“The state of the dollar probably hasn’t been a first-tier political issue in the United States since, say, the presidential election of 1896,” James Pethokoukis wr ites in a blog at Reuters.com.
“Back then, it manifested as whether or not America would stay on the gold standard or switch to a bimetallic one. (The William Jennings Bryan ‘cross of gold’ speech and all that.)
“The aftershocks of the global financial crisis may now be propelling the dollar back to the political forefront. The greenback’s continuing slide makes it a handy metric that neatly encapsulates America’s current economic troubles and possible long-ter m decline. House Republicans, for instance, have been using the weaker dollar as a weapon in their attacks on the Bernankeled Federal Reser ve,” Mr. Pethokoukis said.
“For more evidence of the dollar ’s retur n to political salience, look no further than the Facebook page of Sarah Palin. The 2008 GOP vice presidential nominee and possible 2012 presidential candidate has shown a knack for identifying hot-button political issues, such as the purported ‘death panels’ she claims to have found in Democratic health care reform plans. In a recent Facebook posting, Palin expressed deep concern over the dollar’s ‘continued viability as an international reserve currency’ in light of huge U.S. budget deficits.”
Greg Pierce can be reached at 202/636-3285 or gpierce@washington times.com.