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Will the US bring back the gold standard?

The likelihood of the US bringing back the gold standard is slim, but no doubt the question will continue to be up for debate under future presidents. This is an updated version of an article first published by the Investing News Network in 2017. Don’t forget to follow us @INN_Resource for real-time news updates!

What if the gold standard was not backed by gold?

Since 1971, under a fiat money standard not backed by gold in any way, economic growth has averaged 2.8% per year. This lower growth rate translates into an economy that is about $8 trillion dollars smaller than it would have been had the gold standard not been abandoned in 1971.

Could number 45 ditch the US Federal Reserve & bring back gold standard?

Speaking on his War Room podcast in December, Steve Bannon, Trump's former chief strategist, said he believes Number 45 could ditch the US Federal Reserve and bring back the gold standard in his second term in office.

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