Return to Gold Standard Gains Currency Among Conservatives in 2012 Race
Washington, D.C.—Today, American Principles in Action praised Speaker Newt Gingrich after he proposed to form a presidential commission to examine gold-backed monetary reform. A Gold Commission, similar to what existed under President Ronald Reagan, would “look at the whole concept of how do we get back to hard money,” the Speaker said at a forum sponsored by the U.S. Global Leadership Coalition in Columbia, South Carolina.
The issue has gained attention with the rise of the Tea Party movement and calls for fiscal sanity. Polling recently conducted by Kellyanne Conway showed that a return to gold was popular among likely primary voters in the critical early states. American Principles in Action has rallied support for the gold standard through its "Gold Standard 2012" initiative and during the summer sponsored a bus tour of Iowa that hosted several presidential candidates.
“A presidential commission to make recommendations on securing the value of the dollar and enabling the use of gold as money can lay the foundation for a reversal of the wealth disparity that has plagued the U.S. economy under paper money,” said American Principles in Action Chairman Sean Fieler said. “Speaker Gingrich should be commended for his commitment to starting real monetary reform. American Principles in Action hopes the other candidates will follow suit.”
“As a young Congressman in the 1970’s and 1980’s, Newt Gingrich was an important ally of Jack Kemp in the supply-side revolution that brought the world back from stagflation under Ronald Reagan,” said Jeffrey Bell, policy director of American Principles in Action and head of its Gold Standard 2012 initiative. “The next president will have an opportunity to complete that revolution by means of an urgently needed return to a dollar backed by gold. Speaker Gingrich’s commitment today to convene a new Gold Commission is an important first step in achieving this historic reform.”
The Gold Standard 2012 Project is an initiative of American Principles in Action, which works to advance reform efforts that promote the gold standard.