Here’s the dirty little secret. It was the GOP which killed sound money. And its replacement, the Fed’s bad money, is at the root of all statist evil—- from imperialist wars abroad to suffocation of free markets, personal liberty and individual responsibility at home.
Surely, no Fed has been as far off the deep-end as the mindless money printers in charge of the Eccles Building today. The world’s ablaze with rising goods and services inflation, as we learned again Wednesday morning from the 5.4% rise in the September CPI, and also the ongoing financial asset bubbles the likes of which put the Dutch Tulip Bulb mania to shame.