Bring Back The Gold Standard?

The article focuses on the debate concerning the economic supremacy of gold over paper money in the U.S. Since 1971, when Former U.S. President Richard Nixon blocked international trade activities of gold, its prices have twice reached the $200 mark. On the other hand, the purchasing power is declining at the rate of 7 percent per annum. Thus a commodity will be double in price in 1988. Gold is considered to be non-inflationary while paper money on the other hand is largely affected by inflation.