Economist Jude Wanniski passed away yesterday. A very smart man. He was a visionary and had a great knack for explaining things. And he's spent quite a bit of energy lambasting Bush policies, particularily the war in Iraq.
Until I read his book "The Way the World Works" (still haven't finished it) , I'd always wondered what the deal with the gold standard was. He makes the case that it is the most stable of all commodities, as most of all the gold mined is still in existence and the supply cannot change by a great deal in a given period, making its value one of the more constant ones on the planet. In short, ideal as an agreed-upon exchange mechanism.
He will be missed.
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