For all of you silly people who believe that the skyrocketing prices of gold and silver are due to fears of inflation, Paul Krugman comes to the rescue of his Princeton colleague, Ben Bernanke. Why, gold prices are high because Glenn Beck has been lying about hyperinflation so that gold prices will go up and he will get rich! Yeah, the entire thing is a nefarious plot by Beck!

I deal with this latest missive from Krugman on my Krugman-in-Wonderland blog.