Posted on 11/12/2007 3:11:27 PM PST by republicpictures
Our own view is that Mr. Paul's prescience on the dollar is one of the reasons he's showing what the pundits are calling surprising strength on the hustings. [snip] We have a lot of differences with Mr. Paul, but on monetary matters, we've been covering him since his days, in the early 1980s, as a member of the United States Gold Commission, when he coauthored, with New York's own Lewis Lehrman, a minority report favoring a return to a version of the gold standard. What can be said about Mr. Paul is that he's not only ahead of Mr. Bernanke but also of his fellow Republicans, and he will eat into their standing until they address the question of the soundness of our currency.
(Excerpt) Read more at nysun.com ...
Inflation is dangerous. We had wild inflation in housing. Now we have wild inflation in energy. And there seems to me to be under-the-radar inflation in food prices. Ron Paul is wrong on some big things, but I don’t think his warning about the inflation of the currency is one of them.
Oh my, brace yourself with this posting. I can hear the junkyard dogs trotting this way to post anti-paul pictures and snappy one-liners galore! (grin).
Return to the Gold Standard? Are you kidding? If you think inflation is bad now...imagine what it would be like if you earned $0.03/day as a professional.
Ye gods.
Paul is talking about devaluation of the currency by the Fed, by, in essence, printing too many greenbacks. He’s not alone. The money supply, according to some analysts, has indeed been allowed to grow at an alarming rate.
Whatcha talkn' bout Willard? :)
ML/NJ
The Gold standard (gold backed currency) would remove the Gov't from being able to inflate the money supply.
What you would be able to actually purchase would increase.
So, the issue isn't the amount on your pay check, but what can it actually buy.
Why you neo-con, war-profiteerer you. Put ‘em up...put ‘em up. :-)
bump
Inflation is the hidden tax that will destroy America quicker than ‘jihadists’. Invest in wheelbarrows.
This editorial is insane. I consider myself a Ron Paul guy, but the gold standard crap is something I have to overlook in order to support him.
profiteer I wish
The rate of currency in Europe and elsewhere being pumped into those economies is higher than in the US though. That’s why I think the Euros sharp climb is more speculative than anything else.
I want to be concerned about the obvious efforts to devalue the dollar, but I haven’t yet been convinced it’s a bad thing.
“The Gold standard (gold backed currency) would remove the Gov’t from being able to inflate the money supply. What you would be able to actually purchase would increase.”
And how do you deal with a growing population? As the population grows with the money supply held constant, then the amount of money goes down on average. A ‘dollar’ might buy more but you’ll, on average, have fewer ‘dollars’.
The “weak dollar” is about the only thing which can save us at this point. Our strength is our EXPORTS, and those are kicking ass right now because of the low dollar.
Drive to a gas pump near you.
Read post number 18.
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