James Grant argues for a return to the gold standard

From today's New York Times:

"Gold is a metal made for monetary service. It is scarce (just 0.004 parts per million in the earth’s crust), pliable and easy on the eye. It has tended to hold its purchasing power over the years and centuries. You don’t consume it, as you do tin or copper. Somewhere, probably, in some coin or ingot, is the gold that adorned Cleopatra."

We will, I believe, return to the gold standard eventually. The process is already underway.

Lincoln