{"id":18423,"date":"2016-03-02T20:55:26","date_gmt":"2016-03-03T01:55:26","guid":{"rendered":"http:\/\/olduvai.ca\/?p=18423"},"modified":"2016-03-02T20:55:26","modified_gmt":"2016-03-03T01:55:26","slug":"onward-to-a-golden-age-the-washington-posts-matt-obrien-attacks-ted-cruz-for-supporting-the-gold-standard","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=18423","title":{"rendered":"Onward to a Golden Age: The Washington Post’s Matt O’Brien Attacks Ted Cruz for Supporting the Gold Standard"},"content":{"rendered":"
\n
\n

ONWARD TO A GOLDEN AGE: THE WASHINGTON POST\u2019S MATT O\u2019BRIEN ATTACKS TED CRUZ FOR SUPPORTING THE GOLD STANDARD<\/a><\/h3>\n<\/div>\n<\/header>\n
\n
\n
\n
\n

Matt O\u2019Brien \u2014 the anti-gold standard columnist ofThe Washington Post<\/em>\u00a0\u2014 at last has struck back at Ted Cruz for his advocacy for a \u201crules-based monetary supply, ideally tied to gold.\u201d\u00a0O\u2019Brien\u2019s reactionary blast was fully expected and somewhat overdue.<\/p>\n

As I wrote in\u00a0my\u00a0Forbes.com<\/em>\u00a0column<\/a>\u00a0last November 1:<\/p>\n

We know that Sen. Cruz struck gold from the reaction [to his call for the gold standard]. Immediately the Empire \u2014 which is to say the left \u2014 struck back. Soon the Sith Lords at the\u00a0New York Times<\/em>\u00a0and\u00a0Washington Post<\/em>\u00a0\u2014 hello Paul Krugman, hello Matt O\u2019Brien! \u2014 will launch their TIE fighters against Jedi Master Cruz as his X-Wing nears the Death Star, which Cruz has called a \u201cStar Chamber,\u201d the Fed.<\/p><\/blockquote>\n

On February 23rd, O\u2019Brien published a\u00a0WaPo<\/em>\u00a0column: \u201cThis might be Ted Cruz\u2019s worst idea<\/a>.\u201d Therein, with characteristic wit and \u00e9lan, he attacks Cruz for gold standard advocacy:<\/p>\n

Now, it usually only afflicts people wearing bowties\u2026<\/p><\/blockquote>\n

This characterization of gold standard proponents (hello Larry Parks!) is delightful. Full disclosure: I myself only wear a bow tie when wearing black tie. That said, point well taken! Alas, though, O\u2019Brien, an often bright (and sometimes even brilliant<\/a>)\u00a0analyst is an obsessive anti-gold standard denier which occludes his usual good judgment.<\/p>\n

O\u2019Brien\u2019s column\u2019s first indictment of the gold standard is founded on the volatility of the price of gold.\u00a0Of course<\/em>\u00a0gold, as a demonetized commodity, is volatile. This is completely irrelevant, and even antithetical, to how gold (or, to be more precise, the dollar) behaved, and would behave, under the classical gold standard.<\/p>\n

 <\/p>\n

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

ONWARD TO A GOLDEN AGE: THE WASHINGTON POST\u2019S MATT O\u2019BRIEN ATTACKS TED CRUZ FOR SUPPORTING THE GOLD STANDARD Matt O\u2019Brien \u2014 the anti-gold standard columnist ofThe Washington Post\u00a0\u2014 at last has struck back at Ted Cruz for his advocacy for a \u201crules-based monetary supply, ideally tied to gold.\u201d\u00a0O\u2019Brien\u2019s reactionary blast was fully expected and somewhat […]<\/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":[7380,951,309,374,1183,12726,536,12164,5228],"class_list":["post-18423","post","type-post","status-publish","format-standard","hentry","category-economics","tag-cobden-centre","tag-currency","tag-fiat-currency","tag-gold","tag-gold-standard","tag-matt-obrine","tag-money","tag-ted-cruz","tag-washington-post"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18423","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=18423"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18423\/revisions"}],"predecessor-version":[{"id":18424,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/18423\/revisions\/18424"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=18423"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=18423"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=18423"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}