Almost as astounding as the fact that the War Street Journal editorial page editor has today suddenly awakened to the dire peril of the Fed fiat money system is its concurrent observation that Barack Obama has latched onto the link that everyone else denies, but that Ron Paul makes explicit at every opportunity – that high oil prices are a direct result of the waves of increasingly worthless money that has emanated from the fed since 2000.
We blogged here that in retrospect it is easy to see a precedent for this effect by examining the events before (Nixon’s closing the gold window) and after the 1973 Oil Crisis (oil prices sharply higher than before the embargo; the US Military’s undignified exit from Vietnam). If Ron could make himself valuable to the Obama campaign, he might be able to wield enough leverage to obviate the worst of Obama’s reflexive socialism, while steeling Obama to reverse his cave-in on FISA, and perhaps actually carry out a withdrawal from Iraq.
We will go on record right here and right now that if such an unlikely pipe dream ever came to pass, we would be mighty tempted to vote Democratic this November. Just imagine – a sound economic policy combined with a principled anti- intervention policy. Could Christmas be coming early this year?
