Ever since the GOP included the “Return to the Gold Standard” plan on its platform, an onslaught of arguments about the plausibility and benefits of such a move has followed in tow.
InvestorPlace Editor Jeff Reeves, for one, laid out the case for the gold standard, before then tackling the flaws in each reason one-by-one in his article “7 LOGICAL Reasons a Return to the Gold Standard is the Worst Idea Ever.”
Now NerdWallet, a site aiming to provide clear, unbiased, personalized and complete financial resources, agreed with his conclusion about the U.S.’s rocky relationship with the gold standard:
“Like getting back together with your ex, you think they’ve changed for the better, but you’ve just come up with new ways to arrive at the same problem. It seems that the U.S. is having a ‘third time’s the charm’ mentality, but hopefully we’ll realize there are other fish in the sea.”
To understand some of the possible problems, though, you have to understand all the effects — and this infographic by NerdWallet sums them up nicely: