Thursday, February 18, 2016

Clueless (?) Gold Hater Calls Cruz Idiotic for One-Time Advocacy of a Dollar Backed by Gold

Phil Swagel, who is a Republican government technocrat (He has worked as  Assistant Secretary of the Treasury for Economic Policy, worked on TARP,  worked at the Federal Reserve, the International Monetary Fund, and the White House Council of Economic Advisors) and once told me he didn't know what a gold swap was, sent out a tweet last night calling Ted Cruz's one-time call for a dollar gold standard idiotic.


This is coming from a guy who didn't know what the Fed's monetary growth policy was during the summer of 2008 just before the financial crisis, when he was Treasury Secretary Hank Paulson's top economic advisor.

Maybe he should be wondering why China and Russia are accumulating so much gold. Maybe they don't have as much confidence in the Federal Reserve as he does.

 -RW

2 comments:

  1. Swagel, has a point about Cruz being an idiot. If Cruz succeeded in backing the dollar with gold it would greatly hamper Cruz's ability to wage war and continue establishing the US global hegemony. This assumes Cruz is sincere about gold.

    IMO, Cruz is another lying Republican (redundant, I know) who likes to blow a little gold smoke up libertarians assess to gain a few votes.

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  2. "IMO, Cruz is another lying Republican (redundant, I know) who likes to blow a little gold smoke up libertarians assess to gain a few votes."

    Bingo! We have a winner.

    ReplyDelete