The next idea-return to the gold standard

Here is an interesting idea courtesy of Alex Singelton wiriting on three line whip.

What we need to do is return to the gold standard.Now many will not know what the gold standard is but is was a time when the value of circulated currency was backed up physically by its weight oin gold in the Bank of England's vaults

When we abandoned it according to Alex

The result was disastrous for price stability and, more recently, our unbacked currency enabled Gordon Brown to create a massive credit bubble and all the resulting economic pain.

So

Returning to the gold standard would not just curb bubbles: it would also protect savers by making inflation minimal

and

the gold standard would encourage long-term investment in the economy.