Rand Paul may not be impressing pollsters, but Republicans would be making a massive mistake to write him off so early. The Kentucky senator stands apart from the rest of the primary field in one crucial way: He actually understands the complicated dynamics of monetary policy. And judging from what we’re starting to see happen around the world, this will be an invaluable skill set in 2016.
Indeed, by this time next year, the world could very well be in the midst of a major financial panic.
Look at China, where the People’s Bank of China recently announced they’re dropping the renminbi’s dollar link. To make the dollar peg work, China effectively imported America’s monetary policy, constantly weakening their currency. As global demand for Chinese exports dried up over the last few years, China is trying to bolster domestic demand, which it’s doing by strengthening the renminbi.