Detailed text transcripts for TV channel - MSNBC - 20120824:21:48:00
"a basket of commodities." and nothing gets the ratings up like a basket of commodities, but we do need to explain this for a second because it's very important. a gold standard means it's dollars backed by gold. but problems with the gold standard are legion, but our currency would fluctuate with the global price of gold as opposed to the needs of our economy. south africa finds a new gold mine, currency's all different. pegging the dollar to a basket of commodities works the same way. the currency fluctuates along gold, soybeans, oil, whatever else we choose to put in the basket. and like wi...