Republican Jim Carlin, a candidate for U.S. Senate, says major changes are needed in U.S. monetary policy.
Carlin says the federal government’s budget should be balanced and the U.S. should return to the gold standard. From 1879 to 1933, the U.S. used the gold standard, which tied the supply of currency to the amount of gold held by the federal government.
Critics say the gold standard prevents governments and central banks from lowering interest rates during an economic crisis. Supporters, including Carlin, say it would stabilize the value of U.S. currency and promote savings.
Carlin is running against U.S. Rep. Ashley Hinson in the GOP primary for U.S. Senate.
