Price of Oil vs. Dollars, Euros, and Gold
Posted in Conservatism -It's Not Just for the Right Wing, Gold, Liberty! It's not just for John Stewart Mill, Ron Paul, Uncategorized on April 16th, 2008 by adminThis is a bit telling isn’t it? If Nixon hadn’t floated the dollar or if we had returned to some pseudo-gold standard, the price of oil would be about $15/barrel right now. Currently, it is at $115/barrel. I remember a conversation with someone who identified herself as a libertartian about Ron Paul’s monetary platform. She said that one of the things that she found crazy was the idea of a return to the gold standard. For the record, Paul never advocated a return to the gold standard, but he did advocate lifting the capital gains taxes on gold, which would allow people to trade it freely and force the dollar to compete. Instead, the Looney Toons characters on Capital Hill have a complete monopoly over currency, which is hardly a backdrop for a sound monetary policy. So while Paul’s policy on gold may be a little remote, it’s hardly crazy.
My theory on why we haven’t fixed an obviously broken monetary policy? It’s because all the politicians who know shit from Shinola (Shinola was a shoe polish) run on a platform of fixing it. Sure, we want it fixed, but we don’t know shit either. Everything sounds crazy to us. If it takes longer than 15 seconds to explain to the public, politicians are better off just doing it.
