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Posted on 12/11/2008 6:17:52 PM PST by rabscuttle385
U.S. Representative and former presidential candidate Ron Paul tells Newsmax that bailouts of U.S. corporations are “bad morally” — and says current federal economic policies “will literally destroy the dollar.”
He also insists that the use of “counterfeit” paper money instead of a gold-backed currency is “insane,” and declares it is “foolhardy” for Barack Obama to propose national health care under the present economic conditions.
The Texas legislator ran for president as the Libertarian candidate in 1988, and sought the Republican presidential nomination beginning in March 2007. He withdrew this past June and did not endorse GOP candidate John McCain.
(Excerpt) Read more at newsmax.com ...
Destroying the dollar is part of the reason for the bailout. - They want to unify currencies to give the global tyrants more control.
Never known Ron Paul to be wrong on anything regarding economics.
He was part of my dream team cabinet as treasury secretary.
I would have picked Larry Bates for Treasury. He accurately predicted this crash six years ago, to within three months of its actual incipience.
Uh, Ron?? How much more does it need to be destroyed? In the 20s (I believe), we went off the gold standard. In the 60s, we went off the silver standard.
Today, the dollar is worth only what Congress says it is - based on that, I consider the dollar already destroyed!!!
Gold standard for citizens was ended in 1933 and 1971 was the end of all ties of the dollar to gold. I’m not totally sure about silver, but I know we stopped putting it in quarters in 1964... coincidentally I haven’t been able to find any quarters from 1964. Too bad.
Gold standard for citizens was ended in 1933 and 1971 was the end of all ties of the dollar to gold. I’m not totally sure about silver, but I know we stopped putting it in quarters in 1964... coincidentally I haven’t been able to find any quarters from 1964. Too bad.
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In economics we say:
Gresham’s law: Bad money pushes out good money.
With Paulson & his Goldman Sachs arch-manipulating insiders, soon to be rolled over to the Obama version & his collection Goldman Sachs 'advisors' (chosen for him), we might as well be existing in a slightly different version of Putin's financial dictatorship.
If folks here by now are not buying gold and silver, then they need to just shut the **** up when it all goes down.
It is like those flashing signs that cover the whole overpass telling you “YOU ARE ABOUT TO HAVE A BAD WRECK!”
Not much way to avoid it. Just be sure you and the family are buckled in, all items securely stowed, both hands on the wheel, and reduce your speed. You might survive. The average american is screaming along at 80, rifling thru the glovebox for some breathmints while flipping thru the radio looking for that replay of the latest tune, while the kids are bouncing around with the dog and the dvd players in the back seat. It is going to be messy.
Exactly. And they have the nerve to call it ‘junk’ silver lol!
I prefer .999 pure rounds.
Overvalued bad money pushes out undervalued good money.
It seems a lot of people here say they agree with him on economics, but not foreign policy - not sure if this is where you stand. I feel that this is an untenable position because the two cannot be isolated. As Ron Paul regularly points out, large deficit spending overseas has a negative effect on our economy.
Where I differ with Ron Paul is on his unrealistic stance on the Iraq war. Other points of his foreign policy position are on target, and are in fact the only reality based understanding of foreign policy.
If the dollar is so doomed, then how did I just fill up my car’s gas tank for $20? Could it be that Paul is wrong once again.
How much did it cost you to fill up your gas tank ten years ago? Twenty? I'll bet that it was a lot less than $20.
The current U.S. dollar is as doomed as the Continental dollar was after the Revolution.
What will it do to the shrimp industry? ‘Cause we all know he’s an expert on shrimp.
Currently banks are contracting loans and not renewing many of them which is heavily decreasing supply. On the demand side, a lot of companies are selling off their hard assets for liquidity which is causing demand for the dollar to temporarily spike, thus increasing its purchasing power and decreasing prices. The money creation has been at the base level, the bank reserves. Once de-leveraging stops and demand subsides, the fear is banks will begin loaning again, but this time with vastly expanded reserves which will rapidly increase the money supply back to and far beyond what it currently was at the beginning of this crisis.
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