Maybe it's a sign that subprime has put the sound-money people in the ascendancy, at least for now.
I don't think Ron Paul actually advocates a return to the gold standard per se, but instead wants better control of monetary inflation and waste of public money. A recession will probably achieve that, at the cost of many bankruptcies and much unemployment.
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That was a surprising interview. Usually, Kudlow attacks people with Ron Paul's beliefs.
ReplyDeleteI wonder how chaotic a transition from fiat currency would be.
Maybe it's a sign that subprime has put the sound-money people in the ascendancy, at least for now.
ReplyDeleteI don't think Ron Paul actually advocates a return to the gold standard per se, but instead wants better control of monetary inflation and waste of public money. A recession will probably achieve that, at the cost of many bankruptcies and much unemployment.