by Stefan Wieler
It is our mission to rebut any mainstream article that spreads misinformation about gold and/or shows a gross misunderstanding of monetary history. In Matt O’Brien’s “Wonkblog” in the Washington Post on February 23, 2016, titled “This might be Ted Cruz’s worst idea“, he does both. The ‘worst idea’ in this case refers to the Texas Senator’s view that it would be to the benefit of the US economy to return to a gold standard. One of O’Brien’s main arguments against the gold standard, aside from his claim that apparently nobody on the “University of Chicago’s ideologically diverse expert panel” thinks it a good idea, is that he believes goods and services priced in gold are more volatile than goods priced in US dollars and, behold, sometimes prices can even decline substantially.