What Would It Take for a Return to the Gold Standard?
What would it take for a return to the gold standard? Brien Lundin
Kitco News: Aug 18, 2021
It’s been 50 years since Richard Nixon decoupled gold from its price fix to the U.S. dollar, and now, monetary regimes need a return to a gold anchor more than ever in order to restore stability and credibility, said Brien Lundin, executive editor of the Gold Newsletter and host of the New Orleans Investment Conference.
Speaking to Michelle Makori, editor-in-chief of Kitco News, Lundin made the case that the U.S. dollar has, since the end of the Gold Standard in 1971, lost 85% of its value relative to the consumer price index, which he said may even be understating inflation, and that another dollar peg to gold may be what’s needed to prevent further devaluation.
0:00 – Biggest consequences of ending the Gold Standard
4:30 – Will U.S. dollar lose reserve currency status?
6:30 – Drivers of gold and silver prices today
8:30 – Inflation outlook
10:37 – A return to the Gold Standard?
14:47 – Central bank gold purchases
16:03 – Cryptocurrencies as hedge against fiat money
18:00 – Long-term outlook for gold