Ken Ivory, a public figure and former Utah state legislator, posted a series of statements on X (formerly Twitter) in late March 2026 addressing issues related to monetary policy and inflation.
On March 28, 2026, Ivory referenced the gold standard in economic history by sharing a quote: “The gold standard worked because it made every government deficit a direct assault on the nation’s money supply—and markets punished politicians immediately for their fiscal recklessness.”
Later that day, he commented on inflation and its impact on citizens: “‘Inflation is taxation without representation.’ But you don’t have to play this game… if enough people, and enough States, choose to hold the value of their earnings and saving, and transact in real, constitutional money again, it can lessen the demand for currency conjured out”.
On March 29, 2026, Ivory further critiqued current monetary practices with the post: “Translation: It’s the Money Creation, Stupid! Sequel: Stupid Is As Stupid Does…”
Discussions around returning to a gold standard or adopting alternative forms of money periodically arise during periods of concern about inflation or national debt. The United States officially left the gold standard in 1971. Since then, all U.S. currency has been fiat money—legal tender not backed by physical commodities—which allows for greater flexibility in monetary policy but also raises concerns about potential inflation.
