Steve Forbes: Johnny-Come-Lately To Gold

The mummified media, the financial press included, called Rep. Ron Paul a lunatic when he explained again and again that “a return to the gold standard by the United States would help the nation solve a variety of economic, fiscal, and monetary ills,” created when President Richard Nixon abolished the Gold Standard.

“Such a move would help to stabilize the value of the dollar, restore confidence among foreign investors in U.S. government bonds, and discourage reckless federal spending. … With a stable currency, it is ‘much harder’ for governments to borrow excessively. … Without lax Federal Reserve System monetary policies that led to the printing of too much money, the housing bubble would not have been nearly as severe.”

You don’t say?!”

Actually, these are Steve Forbes’ words, not Paul’s. Forbes is currently singing from the Paul hymn-sheet, and it is music to the ear.

Of course, this is not to say one should embrace Paul’s political opponents, just because they’ve arrived at the correct economic conclusion, now that it’s probably too late.

Goldbugs know that gold is a necessary financial hedge in the survival on the road to serfdom.

Watch out! Gold is bad for government health. Remember Executive Order 6102? FDR, idolized by BHO and many a Republican alike—by almost all offshoots of the duopoly, in fact—forbade “the Hoarding of Gold Coin, Gold Bullion and Gold Certificates” at pains of punishment: a fine of “not more than $10,000, or “imprisoned for not more than ten years or both.”