Once upon a time — September 17th —Reuters published a delightfully preposterous blunderbuss of a blog. It served up a one-sided attack on conservatives. It did so as part of what it calls The Great Debate. Well, a debate has two sides.
Here’s the side Reuters declined to publish.
The very distinguished author of that blog, Prof. Charles Postel, author ofThe Populist Vision, purported to tell his readers why conservatives spin fairy tales (sic) about the gold standard. The good professor manages to defame both conservatives and the gold standard. He, subtly, misrepresents even fairy tales. And he did not deliver the goods.
Prof. Postel begins, auspiciously, with two astute observations. “Today,” he writes, “gold is king of conservative economic thinking.” And: “Financial magnate Steve Forbes has turnedForbesmagazine into a tool of gold advocacy.” Postel then goes off the rails entirely, turning from a blogger into a fabulist.
Alas, Postel fills poor Reuters’ readers’ heads with the most astonishing errors and omissions (contemporary and historical). The conservative position he conjures is a grotesque caricature of reality. He indefensibly impugns the motives of the gold standard’s proponents (my own, presumably, included in his blanket anathema). A few minutes of research would have revealed to him that much of his argument was distorted, exaggerated, or just plain counterfactual.
This writer, a conservative, gladly picks up the gauntlet. (In truth it is more kid glove than gauntlet. Yet honor must be served.)
Debates are two-sided. This is the other side.
This actual conservative insider will reveal the real inside story of why conservatives spin fairy-tales about the gold standard. The real scoop. And the gold standard “fairy tale” is a fascinating subject.
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