This afternoon on Fox News, host Stuart Varney and the network’s senior judicial analyst Andrew Napolitano had “The Gold Standard Debate.”
Napolitano, an advocate of returning to the gold standard, laid out his case for Varney, though he conceded there is currently a “lack of momentum” for the idea. Varney agreed that the country won’t go back to the gold standard “just like that.”
“That is not going to happen,” Varney said. But he did venture another idea:
“I can see the creeping use of gold as a medium of exchange,” Varney said. “For example, we’re about to see, on the streets of two cities in America, vending machines where you can put your dollars in and get out small amounts of gold.”
Varney must have been alluding to Gold to Go, gold vending machines produced by a German company. The machines are currently installed in Germany, Italy, Spain and the United Arab Emirates. CNBC reported in September that the company plans to issue machines in Florida and Las Vegas soon.
“Would you use one of those machines?” Napolitano asked.
“I certainly would,” Varney replied. “This is the first step towards using gold as a currency.”
Eric Lach is a reporter for TPM. From 2010 to 2011, he was a news writer in charge of the website’s front page. He has previously written for The Daily, NewYorker.com, GlobalPost and other publications. He can be reached at ericl(at)talkingpointsmemo.com