There is a new conspiracy theory that is being pushed around the intellectual world that says libertarians and conservatives are pushing gold as a way to bring down the dollar. They claim that we, in an effort to politically damage Obama, are demeaning the value of our dollar to achieve some kind of success in political discourse.
From Market Rap:
Obama’s win, the economic collapse and the Democrats’ supermajority have altogether empowered that libertarian side of the Republicans, whose message is that this country’s economic policy will soon bankrupt the country. The chorus is getting louder and sharper, and is even being accepted by liberal financial professionals.
Conservative politics is now pushing gold like no other and depending on a dropping dollar to prove they are right. The political passion involves millions of Americans who may continue to put their money where there mouth is, into gold and out of dollars.
So here is my analysis of this situation: Instead of addressing the troubling issue of our declining dollar, which has been happening steadily for years, the left blames the libertarians for buying gold and driving up its value.
Gold is a commodity whose has never gone down to zero in known history. However, fiat currencies like the U.S. Dollar have collapsed again and again throughout history and destroyed countries.
So it is wrong to suggest that we should be back on the gold standard to save the U.S. economy? This is no conspiracy by the “right.” This is just reality.Published in