Bernanke on the gold standard douchebaggery:

nytimes.com

“Unfortunately gold standards are far from perfect monetary systems,” he told the class of 30 undergraduates at George Washington University.

Tying the supply of money to the supply of a precious metal limits a government’s ability to address economic problems, Mr. Bernanke explained.

Adopting the gold standard, he said, “means swearing that no matter how bad unemployment gets you are not going to do anything about it.”