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  • Roubini: Gold Standard Fans Are ‘Lunatics and Hacks’

    12/04/2011 8:33:58 PM PST · by Comparative Advantage · 102 replies
    Moneynews ^ | 28 Nov 2011 | Forrest Jones
    Those making public calls for a return to the gold standard are a bunch of lunatics and hacks who are doing nothing but calling for a repeat of the Great Depression, says New York University Nouriel Roubini. Loose monetary policies have done little to lower unemployment rates and have many saying the U.S. should return to the gold standard, which pegs the value of the dollar to gold. Supporters say a gold standard, abandoned in the 20th Century, would force the government to live within its means and end inflationary pressures that come with expansive monetary policy. "That's total nonsense."...