October Surprise: "Gold is an electoral jet stream."

Pullquote:  "'The majority of voters across nearly all demographic groups favor the gold standard....'  A majority of African Americans, most of them enthusiastically, support the gold standard.  A majority of Union members... support the gold standard too."

rasmussen_20100426173244_320_240

Image courtesy of RasmussenReports.com

From Forbes.com:

Superpollster Scott Rasmussen has pulled the pin and rolled one of his patented hand grenades under the chair of the Political Class. Rasmussen’s “October Surprise” is contained in a recent poll showing 44% of likely voters favor returning to the gold standard, 28% opposed.  That intensifies.  If the public knew that it would “dramatically reduce the powers of bankers and the political class to steer the economy” support goes up to 57%.   Opposition drops to 19%.

...

And there’s more.  Rasmussen’s results show that 79% of Tea Party voters (and 69% of simply self-described Republicans) would favor such an elitism-constraining gold standard.  ...

Rasmussen's numbers strongly suggest gold is an electoral jet stream. 

...

Whoever digs down into the crosstabs will discover another electorally important fact.  The gold standard, potentially key to energizing caucus and primary voters, is an asset for the general.  This isn’t a desperate primary season expedient which can return to haunt.    Rasmussen:  “The majority of voters across nearly all demographic groups favor the gold standard if it would dramatically reduce the power of central bankers and political leaders over the economy.”  A majority of African Americans, most of them enthusiastically, support the gold standard.  A majority of Union members (including this columnist, a member of the AFL-CIO) support the gold standard too.

Gold splits the Democrats’ base  There are two major elements of the left.  One is made up of elitist, doctrinaire, souls such as Paul Krugman.  These are almost all white males of the privileged class: its patriarchy.  These, the left’snomenklatura, almost all ridicule gold.  They also, not surprisingly, are a minuscule minority…even of the left.

The nomenklatura have the prestigious platforms –- media, academic perches, money, prestige awards.   But they don’t have the votes.  Most of the left is made up of humanitarian populists, such as organized labor and ethnics who comprise the “social democratic” left.  They are far more concerned about jobs, opportunity, and policies of “rising tide” prosperity than with arcane (and dubious) neo-Keynesian dogma. 

These — as the Occupy movement is telling us loudly with its many calls for the gold standard — and as Rasmussen now has quantified in his October Surprise — strongly tend to favor gold.  The ethnic and labor left leadership is more attuned to the mood of their own, pro-gold, rank and file than are the patrician nomenklatura.

Vinaora Nivo SliderVinaora Nivo SliderVinaora Nivo SliderVinaora Nivo Slider

The Most Important Thing Holding Up the US Dollar

by Ron Paul

Today’s economic conditions reflect a fiat monetary system held together by many tricks and luck over the past 40 years. The world has been awash in paper money since removal of the last vestige of the gold standard by Richard Nixon when he buried the Bretton Woods agreement — the gold exchange standard — on August 15, 1971.

Since then we’ve been on a worldwide paper dollar standard. Quite possibly we are seeing the beginning of the end of that system. If so, tough times are ahead for the United States and the world economy.

Yellen’s Missing Jobs

March 31, 2014

The new Federal Reserve chairman, Janet Yellen, gave a policy speech today at Chicago, where, in a startling gesture, she mentioned three working individuals by name — Jermaine Brownlee, Vicki Lira, and Doreen Poole. They lost their jobs the Great Recession and have been struggling ever since. It was a refreshing, even affecting demarche by Mrs. Yellen, who has made a return to full employment a public priority. She underscored her sincerity by telephoning Mr. Brownlee and Ms. Lira and Ms. Poole before delivering her speech.

Read More

 


The Rueffian SynthesisJohn D. Mueller

Publisher's Note: Originally released in June/July of 1991, this detailed report discusses Jacques Rueff's economic theories and applies them to modern economic events.

By John D. Mueller

Who Was Jacques Rueff?

... Trained in science and mathematics at the Ecole Polytechnique, Rueff devoted his first theoretical work to showing that the same scientific method applies to “moral” or “social” sciences like economics as to the physical sciences (Des Sciences Physiques aux Sciences Morales, 1922). In both cases, he pointed out, individual acts can be “indeterminate,” but the pattern of large numbers of individual acts can be predicted as a matter of probability. And so in economics no less than physics, as he later wrote, “A scientific theory is considered correct only if it makes forecasting possible.”

Read More

Excerpts From:


by Lewis E. Lehrman

"Forerunners of man lived upon the planet several million years ago. But the unique, modern, social order of man – civilization – emerged only four to five thousand years ago. Historical and archaeological evidence suggests that the institution of money evolved coterminously with civilization. From the standpoint of the 100,000-year history of Homo sapiens, civilization and money are but young and fragile reeds. Today their very existence is threatened by financial disorder."

Learn More

 

Hostility toward gold has a long pedigree.  19th century depiction of Pliny the Elder courtesy of the Library of Congress Gaius Plinius Secundus, commonly known as Pliny the Elder, in his The Natural History, Book 33, section 3, writes: Would that gold could have been banished for ever from the earth, accursed by...

Passing Pesos

Kathleen Packard  |  Apr 16, 2014
The New York Times’ Jonathan Gilbert reported: “Argentines endured price rises of nearly 30 percent last year, according to an unofficial index published by opposition politicians; the government, which has been accused of manipulating economic data in the past, claims inflation reached only 10.9 percent in 2013. In 2014, inflation...
VIEW BLOGS
Jacques Rueff, a key figure in European economic circles from the 1930s until the 1970s, was, first and foremost, an...
VIEW WORLD NEWS
Mar 29, 2011
Key Monetary Writings
Lewis E. Lehrman

To end the Age of Financial Disorder, Forward to a Modernized Gold Standard

Between 2009 and 2010 we have experienced a major, emerging market equity and economic boom -- but at the very...
VIEW KEY MONETARY WRITINGS
 
Prosperity Through Gold
Please sign me up to receive free, noncommercial, news and analysis.
Name:
Email:
You can easily and safely unsubscribe anytime. Privacy Policy

Kathleen M. Packard, Publisher
Ralph J. Benko, Editor

The Gold Standard Now
Board of Advisors:


Senior Advisors

Sean Fieler, James Grant,
Steve Hanke, John D. Mueller,
Lawrence Parks, Judy Shelton,
Lawrence H. White

Senior European Advisor
Paul Fabra

Advisors
Jeffrey Bell, Ralph J. Benko,
Andresen Blom, Frank Cannon,
Rich Danker, Brian Domitrovic,
Charles Kadlec, Christopher K. Potter,
John Tamny and Frank Trotta

In Memoriam
Professor Jacques Rueff
(1896-1978)

Now Available on Amazon and from The Lehrman Institute

Gold Standard 3-Pack

Three Gold Standard Titles for One Low Price. Only from The Lehrman Institute Store.

Buy from
The Lehrman Institute

Breaking News