In the September 2008 issue of Liberty, Leland Yeager writes, in a note on oil speculators:
Less often emphasized [as a factor for rising oil prices] is weakness of the currency in which oil is priced. Several years of too loose a monetary policy have been eroding the dollar’s purchaisng power and foreign-exchange value, besides causing other disruptions. (I don’t particularly blame Ben Bernanke and his colleagues, though; for, without hindsight, I wouldn’t have known how better to operate the flawed Federal Reserve system.)
I can think of a couple ways to “better operate” the “flawed” Fed: (a) stop creating money; (b) shut down; (c) publicly advocate these positions.