Russia Backs Return to Gold Standard to Solve Financial Crisis

http://www.telegraph.co.uk/finance/financetopics/g20-summit/5072484/Russia-backs-return-to-Gold-Standard-to-solve-financial-crisis.html

Genius. Having money backed by something of actual value, what a concept! Notice in the article how it says that the gold standard failed only when countries spent beyond their means. Perhaps that would be a good limiter on government spending. Now it does say that Russia backs a gold standard for the in global currency, which I am not for, but the notion of bringing back the gold standard is appealing.