Gary North
Lew Rockwell
Politics makes strange bedfellows. In the person of Ben Bernanke, three streams of American politics have come together: Progressivism, Populism, and Populism’s replacement, right-wing crackpot monetary theory.
There is a third front: Chicago School economics, sometimes called monetarism. It is anti-gold standard, but it is represented by Bernanke only by default, not in theory. Chicago School economists, in their terror of deflation and their pragmatism, remained silent or grudgingly supportive when the Federal Reserve doubled the monetary base in October of 2008. They committed intellectual suicide. They accepted in fact what in theory monetarism denies: Federal Reserve tinkering with the monetary base. This was no 3% to 5% increase per annum.
THE WAR ON GOLD
For well over a century, there has been a war on gold in the United States. This war has been comprehensive: ideas, politics, and finance. I have written a book on this, The Gold Wars. You can download it for free here.
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