Here’s a video of Ron Paul at the latest Financial Services Hearing, July 10, 2008, talking to Henry Paulson. Wow. You’d never get this information so quick ten years ago. Take advantage of it! Now is the time to learn more about the US economy and about what’s really going on. More people should listen to Ron Paul and read up on these issues.
If you’re not very familiar with Ron Paul (R-Texas), you’ll quickly see - if you already know something about the economy - that he tells it like it is. He’s smart. Those other old white guys in the background there - they look like they’re trying to tolerate him. They look like they’re afraid of him. In this hearing, he’s once again trying to warn/ educate/ admonish against problems such as artificially low interest rates - the banks being allowed to borrow at two percent when real inflation is really at ten percent.
“It comes back to the basic problem that we think we can compensate for lack of savings by creating money out of thin air.”
According to the IMF, the US economy hasn’t been doing this badly since the Depression. Then Paul is rightly amazed at the fact that the US government doesn’t even acknowledge that it’s in a recession.
I think Ron Paul is really a civic hero, someone like David Suzuki. Here’s someone who’s really working to help us all out. Here’s someone who’s digging, trying to find the truth about the way the economy is really working. What’s really going on. Five years from now, if the greenback has totally collapsed and the fiat system is broke, or whatever other atrocities might befall the US lower classes, etc, etc., we won’t be able to say that no one was trying to help out. Where were the signs? What was going on? Just listen to Ron Paul.
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2 Comments to “Ron Paul on Monetary Policy: Who’s In Charge of the Dollar?”
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Ron Paul is getting too good at talking about what is realy going on. Somebody in congress better start listening to him. He is the only one making any sense of the reality of the economic meltdown we are facing.
I agree. I was only just introduced to Ron Paul this past primary season (and through some great word-of-mouth by Canadian friends who were visiting in the south). I’m amazed at how much of this info crosses over with what people like Jim Rogers and Peter Schiff and James Turk have been saying for a while now. Makes me start to think there are really “two Americas” when it comes to the economy. Those that know this openly, and those that don’t, or just deny it/muddy it up to keep the public confused. But I’m not an economist, so anyone please feel free to step in and correct me.