President Trump has gone on the record saying that he is in favor of reintroducing the gold standard in order to make America great again. The gold standard is a system in which currency values are directly tied to gold, allowing nations that have different currencies to exchange gold with eachother. Coinworld.com reports: Sean Williams of The Motley Fool, a website devoted to investing news and opinions, posed the following question last week: The question was asked based on the fact that Trump told GQ last year that bringing the back the gold standard would be tough, but “wonderful.” Impact on possible return Williams says most economists don’t think that a return to the gold standard, which was abandoned by the U.S. in 1971, would be a positive fiscal move for the United States, as it was the move away from the standard in 1933 that played a large role in getting America out of the Great Depression. Various issues could arise from a return to the gold standard, Williams explains. The value of gold can swing tremendously, which could have drastic impacts on the value of the U.S. dollar. We can forecast gold’s market all we want, but as Williams tells us, [...]
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