“In many ways, the worst outcome would be some watered down, pseudo-gold standard under the management of the Fed. If the crisis then persisted, which it would, the easy-money advocates would blame everything on the ‘gold standard’ tying the hands of ‘our saviour, the central bank’. This is also a problem for a Romney-win in general, which is unlikely to bring the pro-market changes America needs although his policies will be branded ‘free market’ by the statist media. If Obama remains in office, at least nobody will call his program ‘capitalism’.”
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