The journalistic establishment's refusal to engage in an honest and candid discussion of gold's place in the international financial system is ridiculed brilliantly today by The New York Sun, which targets New York Times columnist Paul Krugman particularly.
"Put a piece of specie next to Mr. Krugman and he shrivels up and like Superman on a slab from Krypton," the Sun writes, "It wouldn't surprise us were Mr. Krugman to keep his Nobel 'gold medal' in a lead-lined case, lest he get woozy when he walks past it. He calls for analysis? Analyze this: During Bretton Woods, under which the dollar was fixed at a 35th of an ounce of gold, unemployment averaged 4.7 percent. Since then it has averaged above 6 percent. Is that related to the fiat nature of money?"
The Sun's commentary is headlined "Krugman's Kryptonite" and is posted here:
http://www.nysun.com/editorials/krugmans-kryptonite/88819/
