The article Roubini: Supporters of a Gold Standard Are ‘Lunatics and Hacks’, Nouriel Roubini explains:
Earlier this week “Dr. Doom” Nouriel Roubini and Currency Wars: The Making of the Next Global Crisis author James Rickards got into a war of words on Twitter over the return of the gold standard. (Read the exchange.)
As Rickards explained last week on The Daily Ticker, he believes a return to the gold standard will do a lot to fixing the current troubles in the global financial system and the U.S. economy.
In the accompanying interview with Aaron Task, Roubini continues to disavow Rickards of his claim.
“That’s total nonsense.” Roubini then goes even further, calling the gold bugs who support a return to the gold standard a, “bunch of lunatics and hacks.”
Roubini says the gold standard would be dangerous. In fact, he claims, the gold standard was a major reason for the Great Depression.
Here is the video: