Daria Novak Campaigns for the Gold Standard in Congressional Race

Photo credit: Bullion Vault via Flickr (CC BY-ND 2.0)
Photo credit: Bullion Vault via Flickr (CC BY-ND 2.0)

Daria Novak is crusading for the gold standard in her race for Congress in eastern Connecticut. Now, Novak recently has received the endorsement of George Gilder, the living author most quoted by President Reagan and the author of many influential books such as the million seller Wealth and Poverty — the “bible” of Reaganomics — and the new Amazon best-seller The Scandal of Money: Why Wall Street Recovers But The Economy Never Does. In a public statement Gilder declares:

Daria Novak’s endorsement of gold shows she understands one of the core problems facing the American economy: the Federal Reserve’s monopoly money is corrupting Wall Street, gelding Silicon Valley, and killing Main Street. I urge her election.

Novak, on her website (as, reportedly, in her stump speech) states:

Prosperity: Restore the American Dream

The classical gold standard is Constitutional money and it made America great. The late, great Jack Kemp introduced perfect legislation for restoring the gold standard, co-sponsored by Newt Gingrich, with the Gold Standard Act of 1984. If elected my first official act will be reintroducing that legislation substantively word for word, and then crusading on that as key to getting job creation, economic security, and upward mobility back at a sizzling rate.

Novak is in distinguished company. The gold standard is re-emerging as an attractive formula for restoring the American Dream of equitable prosperity. Both the GOP’s presumptive presidential nominee, Donald Trump, and his closest rival, Sen. Ted Cruz, publicly praised the gold standard in the context of the presidential primary:

Donald Trump:

In a GQ video interview, the billionaire said he would support … the gold standard.

“Bringing back the gold standard would be very hard to do, but boy, would it be wonderful,” the billionaire continued. [“We’d have a standard on which to base our money.”]

Ted Cruz, to Rick Santelli, on CNBC:

I think the Fed should get out of the business of trying to juice our economy, and simply be focused on sound money and monetary stability, ideally tied to gold.

In a New York precinct, as previously reported, George Phillips, campaigning for the Republican nomination for Congress in mid-state New York, recently featured the gold standard as part of his economic platform.  As reported by Binghamtonhomepage.com, Phillips stated in a high profile speech:

I think Fed policy is at the heart of inequality. Wall Street, the wealthiest have gotten wealthier because of this soft money policy. They’re getting returns on these bonds and doing massive investments. Main Street is struggling.  We can’t get this economy going. The Fed has tried to do too much. We need to return to stable money and gold.

The Connecticut GOP’s federal candidates designating convention is scheduled to occur on Monday, May 9th, to determine the Republican nominees for federal office or to set the stage for a primary election to follow.

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 Project’s Senior Advisor, Economics.