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.
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.
The Federal Reserve increasingly is attracting scrutiny across the board. Now add to that a roller coaster of a thriller, using a miracle of a rare device, shining a light into the operations of the Fed.
House Speaker John Boehner’s proposed lawsuit against Barack Obama is causing a great deal of chatter in Washington. Political stunt, as Obama has called it? Or, maybe, checkmate, Obama?
Prof. Krugman’s prestige, and the immense influence provided him by the New York Times, gives his opinions enormous political weight. What he writes has impact in liberal, and Democratic, quarters. Yet he by no means is infallible.
Princeton, according to Bloomberg News, acknowledged Krugman’s departure with an extraordinarily tepid comment by a spokesperson. “He’s been a valued member of our faculty and we appreciate his 14 years at Princeton.”
The indefensibly grandiose overreach of Obama and the Democrats may well allow the GOP to parlay an oppositional strategy into a Senate majority in November. Yet both the GOP's Regular and Insurgent factions appear to be stuck, exclusively, in Reverse. The electorate desires more than that.
This near-perfect volume appears with almost preternaturally perfect timing around the centenary of the beginning of World War I and, with that, the end of the classical gold standard.
We citizens sense that we are being lied to by those in authority. We can’t quite put our finger on it. We are right, though.
The devil, of course, is in the details. What rule should prevail? There is an almost superstitious truculence on the part of world monetary elites to consider the restoration of the gold standard.
H.L. Mencken, in 1918, observed that “the whole aim of practical politics is to keep the populace alarmed (and hence clamorous to be led to safety) by an endless series of hobgoblins, most of them imaginary.”
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