Saturday, April 6, 2013

"Pay no attention to the man behind the curtain!" (And destroy anybody who points to his existence.)

Stockman feels force of Washington fury
It takes a lot for an official who served at the heart of the White House to go beyond the pale in Washington, but a diatribe against all economic policy since 1933 – attacking everyone from Franklin Roosevelt to Milton Friedman – is one way to manage it.
David Stockman, budget director for Ronald Reagan from 1981 to 1985, is the man who will be short of dinner party invitations after becoming the most mainstream figure to argue that all America’s economic problems stem from the welfare state and the end of the gold standard.

4 comments:

WarriorClass III said...

Just shows everyone who thought Ron Paul was a nut was dead wrong. Of course at this point, a gold standard would be counter productive since all the central banks have been hoarding it. Competing currencies would be a much better alternative. Let the central banksters eat their gold!

Anonymous said...

Great post, warriorclass. The establishment media and politicians went crazy demonizing ron paul and calling him a nutjob for saying the same exact things since the late 70s. Why they are going crazy is that it is easy to demonize and outsider like Paul, but to have an insider essentially say the same things brings a ton of credibility to it.

What is funny is a lot of conservatives love to quote from hayek in his Road to Serfdom, but it was originally Hayek's idea to have competing currencies - and the same people who claim to like hayek and quote from his Road to Serfdom book also said Ron Paul was a nut for wanting competing currencies. The irony is too much!

A gold standard could still work, and it will eventually emerge in a powerful nation at some point in the next few decades and become the new reserve currency and replace the dollar.

Anonymous said...

http://www.telegraph.co.uk/finance/economics/9970738/Bitcoin-the-new-gold-but-what-on-earth-is-it.html

Anonymous said...

http://www.ibtimes.com/gold-standard-redux-swiss-parliament-debates-creating-gold-franc-699615