David Frum has a valuable discussion of monetary history revolving around the 40-years-ago "Nixon shock." In light of Rick Perry's remarks yesterday about Bernanke's "near treason," I add a modest proposal about applying some hard-core free-market monetary policy in Texas first. I also note with amusement that the anonymous "businessman and investor" cited by Bill Kristol the other day on Fed policy has now made his way into a comment by John Podhoretz, who touts the unnamed guy's reputation as "unimpeachable."
UPDATE: Also recommended, Bruce Bartlett on "Nixon's Biggest Gamble..." And I wrote something on it here.
