Ron Paul: the Housewife’s Choice?

Isaac Chotiner issues a provocation: British coverage of the United States must be really bad if William Hill have been persuaded that Ron Paul is a 12/1 shot to become the next President. This is, I admit, strange. Since Paul had previously been available as a 66/1 chance my suspicion is that, given the likely smallness of the market so far, one mad punter has plonked a couple of grand on Mr Paul, causing Hills to rein in their price in short order. Quite why they should feel the need to do so however, is a mystery. My hunch is that some computer algorithm has gone to work.

On the other hand, trying to outsmart the bookies – and the market – is a mug’s game. Perhaps Hills know something we don’t. Clearly, this must be the work of a shadowy group of foreign currency speculators who  are hedging against President Paul’s determination to revive the dollar by returning to the gold standard.