What can I say? The guy is right. He’s right almost all of the time, and on this point he is especially right.
It’s not just Greenspan, suddenly it’s respectable to come out against the Federal Reserve. The attached article is a case in point.
The consumer is feeling renewed stress. Gas prices are up. Food prices are up. But incomes are stagnant or down generally.
“The problem is the fiat world should end as well then.” – Rick Santelli
Noam Scheiber writing for the New Republic tells us that ” the gold standard is nuts– and perfect for today’s GOP.” ” Mr Scheiber confesses to ” knowing…only… a little” about monetary policy. Just as well to start with this caveat, but why start hurling accusations about a subject on which you are completely ignorant?
Keynesians loathe gold. They loathe it because it ties their hands. They want to be Masters of the Universe. The universe however has other plans as it has shown time after time after time. Ever notice that the econometricians NEVER seem to get things right?