The gold standard will stop inflation and stabilise our economy, allowing for savings to increase because first of all, people won't loose their money to inflation, secondly, people will be more likely to save their money if they won't loose some of it to inflation, and third of all, if the money supply remains the same and money becomes more scarce, intrest rates will increase, including those payed to depositors, causing savings to be added to over time. This will cause more investment, more jobs and production, more production means prices will lower and the spending power of our dollars will increase, thus furthering saving even further, and moree jobs means more money being spent on products, it's a cycle, and every result results in 2 or 3 other results, all ofr which will cause our economy to get better, and our money to be more stable.
I definitely think that the United States of America should bring back the gold standard to shore up the dollar. I think that it only makes sense that such a tactic is important to help revive the strength of the dollar. I think that it is a move that will benefit the economy.
We don't need the gold standard. There has been a lot of growth since the gold standard was abandoned. The system is antiquated. There key to growing economies is the right mix of incentives and reinvestments. The gold standard can't make an economy with low GDP function like an economy with high GDP. I don't think China is on the gold standard.
We are headed for a hard road ahead, and if individuals want to invest in precious metals for personal security, that may be a good idea. Thinking the gold standard is a fix for macroeconomic problems is a mistake. The dire issues we face are driven by the continued existence of massive banking institutions, rampant speculation, and a huge divide between the rich and the poor.
I think that once a nation goes off the gold standard to bring it back would end up bringing many problems, I don't believe it's a viable solution for the US to back the dollar with gold in modern economcs, there is not enough political willpower for anything like this to even be considered let alone the dramatic shift in our financial system that would have to occur.