Dominant Social Theme: Central banks are good and Ron Paul doesn't know what he's talking about.
Free-Market Analysis: Recently, the National Review Online responded to libertarian Congressman Ron Paul's criticism of central banking. Why anyone would want to defend central banks is beyond us, but Ponnuru, a leading young conservative thinker has taken on the task.
The US is the world's dominant superpower, and the US central banking system is part of how the US as an entity has afforded its current dominance. Since 1971, the world has been on a dollar gold standard, reinforced by the determination of Saudi Sheiks to sell oil for nothing but dollars.
Of course, one could hardly blame the Sheiks. Muammar Gaddafi announced that he wanted to place Africa on a quasi-gold standard and not more than a year later he was dead along with most of his family and his regime deposed.