The Gold Standard

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Inflation can be ended when the country gets back to operating under the discipline of a gold standard. Hence, I’ve written a chapter explaining what this is and how it works, but basically, operation under a gold standard would work like this: for Congress to spend more than the government takes in as revenue would lead to an increase in the rate of interest. In this scenario, as the interest rate climbs, the electorate will at some point be fed up with the pain that high interest will incur, and the public will demand that Congress put a stop to it.

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