NEW YORK ( TheGoldAndOilGuy.com) -- For the first time in over 30 years, talk of a return to the gold standard has become part of mainstream politics in the U.S. It became part of the official Republican policy at the recent Republican convention and the party supports the creation of a new commission to look at reestablishing the link between gold and the U.S. dollar. No doubt that plank was added to soothe supporters of Texas Congressman Ron Paul.However, gold bugs holding gold bullion or even those holding gold ETFs such as the SPDR Gold Shares (GLD) shouldn't hold their breath in anticipation of the gold standard returning. There was a similar commission -- the Gold Commission -- set up in 1981 by President Ronald Reagan. After a lot of "commissioning," the decision was made to go with the status quo of using fiat Federal Reserve dollars.
Gold Standard? Don't Hold Your Breath
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