Gold Bugs Creep Into Republican Campaign
NEW YORK (TheStreet) -- If you want an example of just how insane the Republican primary race has become, you need look no further than the rallying cry that went up as Ron Paul addressed his followers in Nevada Tuesday night: "End the Fed! End the Fed!" Catchphrases of the Federal Reserve-hating, gold-standard-return-advocating extremists, such as "fiat money," are growing commonplace on the campaign trail.
That's right. Gold bugs, the lunatic fringe of investing and economics, have crept into national politics. What's next? Flat-earth advocates? Area 51 conspiracy theorists?
Sure, Mitt Romney, who doesn't subscribe to any of that stuff, is looking stronger than ever after his Florida triumph. We all know, unless we're on his bandwagon, that Ron Paul hasn't an iceberg's chance in hell of winning the G.O.P. nomination. But Newt Gingrich is still in the race, and, as I'll be describing in a moment, he's almost as much of a dedicated gold-standard guy as Paul. Both Gingrich and Paul are pledging to remain in the race until the convention, and Paul may very well continue through November with a third-party bid.
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