The "gold standard" vs. the floating currency

[The Doctor]

The following link is from a gold standard-sider. David Frum is the "floating currency", or basket of managed goods-standard bearer.

http://www.lewrockwell.com/murphy/murphy131.html

You can catch the links to Frum's opinions in the first paragraph, and then follow the arguments from Mr. Murphy.

I had updated (in an email) Mr. Frum that gold would be one good commodity to peg the dollar in a world of competing currencies, and his counter is that the Federal Reserve already manages a basket of commodities, so why hold hostage our dollar's value to one volatile commodity such as gold.
I would reply that gold is globally recognized and generally accepted, but ....hey, what do I know? :p

BTW, here's your current floating dollar--
http://www.bloomberg.com/apps/news?pid=20601087&sid=aF8drx..vFdQ&refer=home

Does it matter? What do you think?

[duckman373]

I think instead of investing in gold, platinum and silver, I'll invest in brass, copper, and lead.