The U.S. could avoid a lot of its problems with a return to the gold standard, Rep. Ron Paul told CNBC’s “Closing Bell” on Friday.
“We could avoid some of the horrendous swings in the marketplace with bubbles building and bursting and transfer of wealth from the middle class to the wealth,” Paul said.
(Read More: Why Return to Gold Standard Is Seen By Some as 'Ludicrous'.)
The Texas Republican has long pushed for a return to gold as the basis of money, and now for the first time in 30 years, the Republican platform will call for a gold commission to look into a return to the gold standard.