Pro to the question "Should the United States Return to a Gold Standard?"
"Why is gold good money? Because it possesses all the monetary properties that the market demands: it is divisible, portable, recognizable and, most importantly, scarce - making it a stable store of value. It is all things the market needs good money to be and has been recognized as such throughout history. Gold rose to nearly $1800 an ounce after the Fed's most recent round of quantitative easing because the people know that gold is money when fiat money fails...
Fiat money is not good money because it can be issued without limit and therefore cannot act as a stable store of value. A fiat monetary system gives complete discretion to those who run the printing press, allowing governments to spend money without having to suffer the political consequences of raising taxes. Fiat money benefits those who create it and receive it first, enriching government and its cronies. And the negative effects of fiat money are disguised so that people do not realize that money the Fed creates today is the reason for the busts, rising prices and unemployment, and diminished standard of living tomorrow...
As the fiat money pyramid crumbles, gold retains its luster. Rather than being the barbarous relic Keynesians have tried to lead us to believe it is, gold is, as the Bundesbank president put it, ‘a timeless classic.’ The defamation of gold wrought by central banks and governments is because gold exposes the devaluation of fiat currencies and the flawed policies of government."
"Gold Is Good Money," thedailybell.com, Oct. 2, 2012
Experts Individuals with PhDs, heads of government, members of federal legislative bodies, and individuals with graduate degrees and significant post-graduate involvement in fields relevant to the study of economics [Note: Experts definition varies by site.]
Involvement and Affiliations:
Chairman, Campaign for Liberty
Distinguished Counselor, Ludwig von Mises Institute
Representative, United States House of Representatives, Texas (14th District), 1996-2012
Chairman, The Liberty Caucus of Fellow Congressmen on Capitol Hill
Member, Financial Services Committee
Member, International Relations Committee
Member, Joint Economic Committee
Member, Subcommitte on the Western Hemisphere
Member, Subcommittee on Domestic and International Monetary Policy, Trade, and Technology
Member, Subcommittee on International Organizations, Human Rights, and Oversight
Republican presidential candidate, 2008, 2012
Representative, United States House of Representatives, Texas District 22, 1976-1977, 1979-1985
United States Senate, Republican Candidate, 1984
Member, United States Gold Commission, 1981-1982
Republican Nominee for United States House of Representatives, 1974