NY Sun Editorial: Palin and Paul

The New York Sun? Yes, it's still around, though only on the world wide web. The Sun published it last print edition September 30, 2008. Here are some excerpts from its October 10 editorial:

Those of us who have been waiting for a politician to pick up on the monetary issue are perking up at Governor Palin’s demarche on the dollar. This came last week in a posting on her Facebook page, where she reacted to a report that Gulf oil producers were negotiating with Russia, China, Japan, and France to abandon the use of the dollar in pricing petroleum. She noted the report in the Wall Street Journal that Arab oil officials were denying the story, but reckoned that “even the possibility of such talk weakens the dollar and renews fears about its continued viability as an international reserve currency.” Then she pointed out that “a United Nations official called for a new global reserve currency to replace the dollar and end our ‘privilege’ to run up huge deficits.” Most importantly, she warned about the price of gold, which that day had hit a record in what she called a “response to fears about the weakened dollar.”

Time will tell, but what this suggests is that the former governor of Alaska is ahead of the rest of the undeclared contenders in 2012.  

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Mrs. Palin’s comments suggest she’s savvier than many give her credit for being. No sooner did she issue her warning about the dollar than Reuters found a number of Republicans declaring she was right.

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It is true that the only politician who has been campaigning on this issue, Ron Paul, failed to prosper at the polls. We would argue that had less to do with his monetary policy than other issues, the war among them, on which he has been in error. But maybe he should have been a bidder for that famous lunch with the former Alaska governor. We’re not ready to make endorsements, but Palin and Paul could make a whale of a ticket.

- JP