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HANGZHOU, CHINA - AUGUST 23: (CHINA OUT) An employee shows a golden panda ingot at a gold store on August 23, 2011 in Hangzhou, Zhejiang Province of China. Gold advanced to an all-time high above $1,910 as investors sought to protect their wealth against financial turmoil amid speculation that the global economy is slowing. (Photo by ChinaFotoPress/Getty Images)
HANGZHOU, CHINA - AUGUST 23: (CHINA OUT) An employee shows a golden panda ingot at a gold store on August 23, 2011 in Hangzhou, Zhejiang Province of China. Gold advanced to an all-time high above $1,910 as investors sought to protect their wealth against financial turmoil amid speculation that the global economy is slowing. (Photo by ChinaFotoPress/Getty Images)
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Tom’s Opinion: The Gold Standard — Still A Bad Idea

As my good friend Mike McCormick says, “I like a currency that’s backed by the US Navy.”

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