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GOP Eyeing Return To Dollar With Fixed Value?

Forty years ago, President Richard Nixon ended the dollar’s tie to gold.

Now, Reuters News has obtained a draft of the Republican party platform that is to be adopted at the Republican National Convention next week.

Reuters reports the following:

The proposal recalls a commission created in 1981 by President Ronald Reagan to consider restoring the convertibility of the dollar into metal. The commission advised against such a move in the end.

“Now, three decades later, as we face the task of cleaning up the wreckage of the current administration’s policies, we propose a similar commission to investigate possible ways to set a fixed value for the dollar,” the platform would say, according to draft language provided to Reuters by a Republican National Committee official who declined to be named.

When asked if these measures were taken in order to earn the support of the delegates awarded to Presidential candidate and Congressman Ron Paul, Rep. co-chair of the platform committee Marsha Blackburn (R-TN) was quoted as saying, ”These were adopted because they are things that Republicans agree on.”

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