Fed's Hoenig says gold standard "legitimate" system
"This Reuters piece was a huge surprise to me when I read it," said Ed Steer of Casey Research.

"It was filed from Kansas City, Missouri yesterday...and bears the incredible headline Fed's Hoenig says gold standard 'legitimate" system'. Thomas Hoenig has a keen grasp of the obvious...but the fact that he said it at all is amazing. A gold standard that forces countries to back their currency reserves with bullion is a 'legitimate' monetary system, though it would not prevent financial crises, Kansas City Federal Reserve President Thomas Hoenig said on Wednesday."

Steer continues, "I'd say this is more than a trial balloon. This story is a must read...and the link is here."