Just as the American dollar seems to be sinking to its all-time low, a member of Ronald Reagan’s Gold Commission is offering a five-step path to return our currency to its former gold standard. Lewis Lehrman’s plan includes allowing bank deposits to be redeemed in gold, as well as the minting of a tax-free, legal-tender gold coin. Lehrman will also propose a future international monetary conference in which gold would be designated “as the sole official monetary reserve asset.” Despite Lehrman’s association with the former U.S. Gold Commission, his upcoming plan has no official status.
