Pushing the Envelope Jude Wanniski October 25, 2004

From: Ben.S.Bernanke@***.gov
Subject: Re: Pushing the envelope
To: Jude Wanniski <jwanniski@polyconomics.com >

 

From Ben S. Bernanke, 7:45 am, 10/26/2004

Jude:  I always want to keep an open mind.  Maybe we can set up something in December when things slow down around here.  Ben

Jude Wanniski   <jwanniski@polyconomics.com>                                               
To: Ben.S.Bernanke@* * * * *.GOV              
Subject: Pushing the envelope   10/25/2004 06:39 PM                                
                                                                           
                                                                           
I hope you are engaging Greenspan in a discussion about gold. I'd always had my fingers crossed that he would make a move before he left the Fed that would begin the process of reconstituting the international monetary  system. He's always figured he could do better than gold, which, if it were in effect, would strip the Fed of its considerable powers to screw up the
whole world. If you were to MERELY indicate that you would like to reopen the issue in light of our experience since 1971, you would cause considerable excitement. You would go to the top of the supply-side list to replace Greenspan. Greenspan himself would be impressed.

Jude

PS  Would you be open to a dinner invitation, just the two of us, off the record? No special date in mind, but perhaps before the end of the year. At the moment, by virtue of your intellectual curiousity, you are my candidate for the chairmanship. If you fixed the world's money, you would make the cover of the news magazines and go down in history. But you can't do any of that unless you know all the arguments pro and con. And I repeat my pledge to keep any of our discussions private.