Former Chairman of the Board of Directors of the Federal Reserve Bank of Kansas City
Pro to the question "Should the United States Return to a Gold Standard?"
"A dollar should be defined - as it was prior to 1971 under the postwar Bretton Woods system - as a fixed quantity of gold.
However imperfect a gold standard may be, it remains the best among all alternatives. The empirical data for both the classical gold standard, which I favor - and even the flawed 'gold-exchange' standard, as we had under the Bretton Woods system - are impressive. Economic growth was stronger, unemployment rates lower, the price level more stable, and recessions less frequent and less severe than under the present system.
I realize the Washington establishment goes ballistic at this suggestion. Gold is kryptonite to big-spending politicians. It is to the moochers and looters in government what sunlight and garlic are to vampires. The American people are another story. Nearly half (44%) support a return to a gold standard, according to an October 2011 Rasmussen Report. That support soars to 57% when respondents know it will 'dramatically reduce the powers of bankers and the political class to steer the economy.'...
The political establishment will fight this idea viciously, because gold convertibility strips them of power and places the trump card over monetary policy with the people. If you thought the establishment attacked me over 9-9-9, wait until you see how they react to a classic gold standard. The vampires will be out in full force.
The debate over sound money has moved from whether we need it to how we get there. The pieces are moving in the right direction, and we have an opportunity to make the dollar once again as good as gold."
"We Need a Dollar as Good as Gold," wsj.com, May 13, 2012
Experts Individuals with PhDs or equivalent advanced degrees in fields relevant to the gold standard. Also top-level government officials (such as foreign leaders, US presidents, Founding Fathers, Supreme Court Justices, members of legislative bodies, cabinet members, military leaders, etc.) with positions relevant to the gold standard.
Involvement and Affiliations:
Founder, Cain TV, 2012-present
Host, The Herman Cain Show, Atlanta’s 95.5 FM/750 AM WSB and Cox Media
Republican presidential candidate, 2012
Director, AGCO Corp. 2004-2011
US Senate candidate, 2004
US presidential candidate, 2000
President & CEO, National Restaurant Association, 1996-1999
He is married with two children and four grandchildren
Associate Minister, Antioch Baptist Church North, Atlanta, GA
Recipient of Honorary Doctorate Degrees from Morehouse College, New York City Technical College, Suffolk University, Johnson & Wales University, Creighton University, Purdue University, Tougaloo College, and the University of Nebraska