Kudlow: Greenspan Saying Gold is the Only Real Currency

Former Federal Reserve Chairman Alan Greenspan (public domain photo via IMF)
Former Federal Reserve Chairman Alan Greenspan (public domain photo via IMF)

Larry Kudlow mentions that Alan Greenspan is touting something like a gold standard:

As for rules and the Fed, there are a bunch of proposals out there: There’s the inflation-fighting Taylor rule, which seemed to work in the 1980s and ‘’0s. There’s a gold-commodity-King Dollar price rule (which I favor) that also worked in the ‘80s and ‘90s. There’s the new-monetarist nominal-GDP-growth rule, although the trouble here is that velocity keeps falling and money GDP has gone nowhere. Alan Greenspan (!) is actually telling people that gold is the only true currency.

He gives Yellen props for keeping inflation low and says conservatives should focus on tax and regulatory reform to jump start the economy.

Ralph Benko, internationally published weekly columnist, co-author of The 21st Century Gold Standard, lead co-editor of the Gerald Malsbary translation from Latin to English of Copernicus’s Essay on Money, is American Principles in Action’s Senior Advisor, Economics.