Republicans consider returning to "Gold Standard"
POSTED: Friday, August 24, 2012 - 5:27pm
UPDATED: Saturday, August 25, 2012 - 2:49pm
The Republican Party is proposing a return to the "Gold Standard" in its platform.
The "Gold Standard" was a unit of economic value that was measured by a certain weight of gold.
The last time the standard was in place was in 1971, until it was broken during the oil crisis under President Nixon.
Financial expert Jay Oliver breaks down the basics and weighs in on the issue.