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zombie gold standard

November 18, 2013

Truthout: “Rand Paul’s Zombie-nomics Versus Janet Yellen” by Greg Palast:

Will Sen. Rand Paul, misunderstanding the voices of the undead, block the appointment of Janet Yellen to head the Federal Reserve Board? No joke.

with reference to Milton Friedman, explains

An Idiot’s Guide to Gold-Buggery
The Pauls have told us horror stories of the German hyper-inflation of the early 1920s, when you had to schlep a wheelbarrow full of currency to buy a loaf of bread. The cure Paul père hawks, is a return to the gold standard, raising zombie economic theories from the grave, here Friedman buried them.

That hyper-inflation leading to the rise of Nazi party – Notice also “gold-buggery” and the connection of zombies to insects.

Is it ironic to call the gold standard a zombie-nomics? I thought zombie economics related to voodoo economics of Reagan trickle-down, and to Alan Greenspan policies (also to social security bankruptcy welfare and quantitative easing and Japan and Italy). Aren’t those inflationary policies the opposite of a return to the gold standard? If so, there’s that zombie again playing both sides of the metaphors.

Meanwhile, assuming Janet Yellen is confirmed, consider the significance for zombie feminism, because afterall, gender politics is the most important thing about financial policy. While we worry what Larry Summers said years ago, has anyone checked if the gold in Fort Knox is still there?

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From → economics, nazi

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