He serves as an advisor to and editor of the Lehrman Institute's thegoldstandardnow.org and senior advisor to the American Principles Project. Benko founded the Prosperity Caucus gathering of supply-side and free-market economists; served on detail as a deputy general counsel to the President’s Commission on Privatization and on White House agency staff under President Reagan. He holds a B.A. from Amherst College and a J.D. from Boston University Law School and is retired from the bar of the State of New York.
There has been much consternation expressed about President Obamas extralegal actions, especially suspending deportation of certain classes of undocumented aliens. Impeachment legally and politically would be completely unwarranted.
Demonetized (as at present), gold merely is a commodity. The gold standard is a quality standard, not a quantity standard, and is about maintaining the integrity of the currency, not limiting its supply.
The mortal struggle at hand today is not between the right and the left. It is not between Republicans and Democrats. It is not between the Congress and the president. It is between us (currently outsiders to our own government) voters and the Washington Insiders.
The current Executive Action is called by its adversaries amnesty. In fact, it represents a temporary reprieve rather than a pardon, more likely to confound rather than promote a humane resolution. It is highly likely to cause a backlash against durable immigration reform.
The GOP could, of course, stumble. As of now, though, it looks like the 114th Congress is more likely to do right by, rather than wrong to, America.
As noted in my previous column, AEIs James Pethokoukis and National Reviews Ramesh Ponnuru among many others appear to have fallen victim to what I have called the Eichengreen Fallacy. This refers to the demonstrably incorrect proposition that the gold standard caused the Great Depression.
AEIs James Pethokoukis and National Reviews Ramesh Ponnuru among many others appear to have fallen victim to what I have called the Eichengreen Fallacy, the demonstrably incorrect proposition that the gold standard caused the Great Depression.
The national Democratic Party has staked its retention of a Senate majority on a few carefully chosen campaign themes: denouncing Republican oligarchs flooding the election with political ads; deploring the War On Women; and, most emphatically, attacking what they call income inequality.
Janet Yellen gave a widely noted speech recently. The speech presented as a if ghostwritten for her by Quincy Magoo, that beloved cartoon character described by Wikipedia as a wealthy, short-statured retiree who gets into a series of comical situations as a result of his nearsightedness.
When George Gilder, arguably the smartest man in the world, says, as he said to me over dinner recently in Washington, DC, that Peter Thiel is the smartest man in the world pay attention.
Most political eyes now are turned to whether the Republicans will take, or the Democrats hold, a Senate majority. Meanwhile what may be a comparably important election will be conducted, probably next month, mostly out of the public eye.
Jared Bernstein recently called, in the New York Times, for the dethroning of King Dollar, claiming that the reserve currency status of the dollar has cost the United States as many as six million jobs in 2008.
Cheapening the dollar is a bad thing, unequivocally. It does not necessarily follow that making the dollar dearer is a good thing.
Sympathy toward the gold standard is a stand for which other conservative groups are on record, including the Cato Institute, Heritage Foundation, Atlas Economic Research Foundation, and, of course, the American Principles Project.
So lets get down to facts: Stagnant median family income is not the GOPs fault. Its the Fed who done it.
The Tax Revolt has run its course. A Money Revolt is needed.
$1.4 trillion are stranded overseas. Seventy-five Congresspeople, and growing, from both parties, respectfully led by freshman Representative John Delaney (D-Md), are advancing a plan to retrieve that money.
Paul shows signs of being the key transformational figure. If he himself understands the depth of this proposition he well might become unstoppable. Washington, naturally, finds him confounding.
A gold-based international monetary order called out, however, to be mended not ended. Nixon ended it.
The GOP once again appears clueless. But not quite for the reason that liberals suppose.
NEW TIME Today, at 9:30 AM PT: Get the Market Movements in Advance: William's Edge Webinar for December 19th, 2014 | John Ransom
In Other News: New Captain America Will be Black; Racist Liberals Suddenly Become Fans | Michael Schaus