MSN Money recently published an article asking the question: Will Ron Paul-onomics beat Obama?
The author argues that the “libertarian Republican’s call to ‘end the Fed’ and return to the gold standard* is catching on in the GOP — and it could shape the political year.”
*Not exactly, but close enough for the present discussion.
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[blockquote>There are also technical problems that ruined the legacy of the gold standard and deepened the Great Depression -- many of which current Fed chairman Ben Bernanke has studied (.pdf file).
Gee, I was totally an advocate of a gold standard but Ben sure has set me straight. Thankfully, due to his wonderful guidance of the money supply the last few years, we have nothing more to worry about.
The difficulties he talks about are easily solved with two things. Competing currencies and repudiation. Easy peasy.
Not really. Trying to remove statism in the United States is like trying to get the Middle East to renounce Islam. It would require a huge world view shift for most people – like for instance understanding that liberties aren’t privileges granted by the state and that there exist opportunity costs to social programs which undermine the very justifications that people have for these programs. At the core of this lies money and banking and its hardcore proponents in both academia and the highest offices are unlikely to give up their rein on power.
I hope so but know not
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