[jmherbener]

Most central banks attempt to hit a target rate of price inflation of around 2 percent. If price inflation is below the target, the central bank accelerates monetary inflation and if price inflation is above the target, the central bank decelerates monetary inflation.

I suggest Joe Salerno’s book, Money Sound and Unsound:

https://mises.org/library/money-sound-and-unsound-1

Although I don’t know the details of Cruz’s proposal for gold in the monetary system, he’s clearly not calling for a return to even the classic gold standard, let alone a genuine gold standard.

http://www.cnn.com/2015/12/22/politics/ted-cruz-gold-standard/index.html?iid=EL