{"id":13307,"date":"2015-10-12T13:06:30","date_gmt":"2015-10-12T18:06:30","guid":{"rendered":"http:\/\/olduvai.ca\/?p=13307"},"modified":"2015-10-12T13:06:30","modified_gmt":"2015-10-12T18:06:30","slug":"bishop-ben-carson-upsets-washington-post-for-questioning-fiat-money","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=13307","title":{"rendered":"Bishop: Ben Carson Upsets Washington Post for Questioning Fiat Money"},"content":{"rendered":"

Bishop: Ben Carson Upsets Washington Post for Questioning Fiat Money<\/a><\/h3>\n

\"\"<\/h2>\n
Tho Bishop writes:<\/strong><\/em><\/div>\n
\n

Neurosurgeon-turned-Presidential candidate Ben Carson has been under attack this week by our\u00a0PC-enforcers in the media<\/a>. While most of the media scorn has been directed at Carson\u2019s defense of gun ownership following last week\u2019s shooting in Oregon \u2013\u00a0Matt O\u2019Brien of the\u00a0Washington Post\u00a0<\/em>slapped<\/a>\u00a0at Carson for flirting with the gold standard.<\/p>\n

In an article on Friday criticizing Jeb Bush for not condemning the gold standard harshly enough (Bush only offered a timid “I don’t think so” when asked whether the US should make such a move), O\u2019Brien highlighted some surprisingly sound comments Dr. Carson made earlier this week during an interview with NPR. While discussing the nation\u2019s current debt, Carson said:<\/p>\n

“[T]he only reason that we can sustain that kind of debt is because of our artificial ability to print money, to create what we think is wealth, but it is not wealth, because it’s based upon our faith and credit. You know, we decoupled it from the domestic gold standard in 1933, and from the international gold standard in 1971, and since that time, it’s not based on anything. Why would we be continuing to do that?\u201d<\/p><\/blockquote>\n

Because of views like this, O\u2019Brien dismisses Carson as not being a \u201ccandidate of serious policy.\u201d<\/p>\n

Unfortunately for O\u2019Brien, he spends the rest of his column demonstrating that his own views on the gold standard, which he refers to as \u201cthe world\u2019s worst idea today\u201d, should not be taken seriously.<\/p>\n

Along with offering the typical\u00a0flawed-Friedmanite narrative<\/a>\u00a0of how the Federal Reserve\u2019s dedication to preserving the gold standard, O\u2019Brien is concerned about the impact a gold standard has on interest rates.<\/p>\n

Without a hint of irony, O\u2019Brien suggests that interest rates guided by the market simply lack the wisdom of our current PhD Standard:<\/p>\n

…click on the above link to read the rest of the article…<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Bishop: Ben Carson Upsets Washington Post for Questioning Fiat Money Tho Bishop writes: Neurosurgeon-turned-Presidential candidate Ben Carson has been under attack this week by our\u00a0PC-enforcers in the media. While most of the media scorn has been directed at Carson\u2019s defense of gun ownership following last week\u2019s shooting in Oregon \u2013\u00a0Matt O\u2019Brien of the\u00a0Washington Post\u00a0slapped\u00a0at Carson […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[9810,195,303,305,309,1183,9811,7617,8949,538,5228],"class_list":["post-13307","post","type-post","status-publish","format-standard","hentry","category-economics","tag-ben-carson","tag-debt","tag-fed","tag-federal-reserve","tag-fiat-currency","tag-gold-standard","tag-matt-obrien","tag-mises-institute","tag-mises-org","tag-money-printing","tag-washington-post"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13307","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=13307"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13307\/revisions"}],"predecessor-version":[{"id":13308,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/13307\/revisions\/13308"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=13307"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=13307"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=13307"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}