Wasted Space: Watch Fed Nominee Stephen Moore Get Surprised by His Own Support of the Gold Standard

The gold standard, the monetary system in which paper currency is backed by a shiny metal, was effectively abandoned in the United States in 1933, and officially dropped in 1971. Though markets featuring such a standard were known to be more volatile and more likely to suffer inflation, some conservative politicians and economists have flirted with the idea in recent years.

Wasted Space: Watch Fed Nominee Stephen Moore Get Surprised by His Own Support of the Gold Standard Stephen_moore.w700.h700

Among their ranks: Ted Cruz, Rand Paul, and Stephen Moore, who is one of President Trump’s nominees for the Federal Reserve’s Board of Governors. But in an appearance on CNN on Thursday, Moore, an economist at the Heritage Foundation, quite confidently told host Erin Burnett that he had never supported a return to the gold standard. Then Burnett played the tape.

Quote :: Stephen Moore: "I don't really think I've said anything much about the gold – I'm not in favor of a gold standard."

Erin Burnett then plays three clips of Stephen Moore saying he supports a gold standard. pic.twitter.com/az4bm0zmoa
— andrew kaczynski (@KFILE) April 11, 2019

http://nymag.com/intelligencer/2019/04/trump-fed-nominee-surprised-by-own-support-of-gold-standard.html

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Wasted Space: Watch Fed Nominee Stephen Moore Get Surprised by His Own Support of the Gold Standard

Wasted Space: Watch Fed Nominee Stephen Moore Get Surprised by His Own Support of the Gold Standard

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