Ron Paul was right: GOP mulls return to gold standard

The United States’ top GOP lawmakers will go over policy during next week’s Republican National Convention in Tampa, Florida, and among the issues to be discussed is whether a return to the gold standard is worth pursuing for the party.

America has not backed its money on gold since the early 1970s, but GOP presidential hopeful Rep. Ron Paul (R-Texas) has adamantly rallied for a return throughout his tenure in Congress. With the libertarian lawmaker preparing to walk away from his Capitol Hill roll after the upcoming presidential election, the rest of the Republican Party may very well finally be considering his ideas.

Rep. Paul has encouraged his supporters to consider a return to the gold standard since the days of the Reagan administration, and in a proposal released this week that outlines official Republican Party policy this election season, the rest of the GOP may finally be siding with the congressman. According to drafts of party platform policy to be discussed in Tampa and made available to the Financial Times, members of the GOP are calling for the establishment of a commission to examine returning to the gold standard.

Read more: RT.com, 25 August 2012