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
Check Out Our Best Services for Investors
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Model portfolio
- Stocks trading below $10
- Intraday trade alerts
More than 30 investing pros with skin in the game give you actionable insight and investment ideas.