Ron Paul: Obama Will 'Destroy the Dollar'

Newsmax ^ | 2009-07-15 | Jim Meyers

[budwiesest]

If you think of the economy as a life raft, it was dealt a serious blow after the latest 'bubble' (housing) burst, taking with it more than equity but retirement funds and throwing businesses into a tail spin as well.

I don't know about you, but sharing a life raft with 330M others that's less than half inflated is not my idea of good time. So, the Reserve pumps more 'air' into the raft but it comes with strings attached which are designed to embellish government at a cost to the private sector (higher taxes, less money to invest, etc.)

This will result in a lop-sided raft that will eventually flip, tossing a lot of folks without a government pension of some sort, into the water. That's what's wrong with Obamanomics- weighed heavily in favor of the public sector with crushing burdens placed on the private sector (where real jobs and real recovery exists).

Whether it's gold, platinum, or little pieces of paper backed by "the full faith and credit of the United States", if pumped the way Obama wants it, the private sector is taking a hit and getting wet.

[ChrisInAR]

He doesn’t vote against a House resolution to condemn Iran, not because he agrees with what they’re doing, but because he does not believe it is within the Constitutional authority for the Congress to do such things.

Don't let the Ron Paul Haters on FR hear you say that, 'cuz they will refuse to believe it. Constitutional principles mean little to them. As far as they are concerned, his lack of voting to condemn Iran is voting in favor of them becoming a nuclear nation.

[Wolfie]

I was watching “House of Cards” on CNBC. Maybe Paul should watch it if he’s confused about who the “culprits” are. (In short, it’s everybody, at every level...which is nice because then nobody will have to take the blame).

[Nephi]

The greatest Congressman since Henry Clay, IMO.

Ron Paul is exactly the opposite of the Whig, Henry Clay, who Lincoln modeled himself after. Whigs had a simple platform. It essentially amounted to fascism, but it was called the "American System." They advocated using tax dollars to fund "internal improvements." Back then, the money interests selfishly guarded their market access in the US through extremely high tariffs, which the South resented because they either paid high tariffs, or high prices to the North for similar goods. Clay and the Whig party also advocated a central bank, which they openly admitted would be useful to fund the money interests' pet projects by printing the money rather than having to conspicuously tax for them.

[annieokie]

That is exactly where O wants to take us, and I am sure he has a pile of those coins somewhere, or promised some.

[wolfcreek]

IMO, the Fed has always been part of the supranational banking system (since inception). The fact it’s being challenged now may be nothing more than opening the door to it’s TRUE identity. Taking the mask off, if you will.

[bmwcyle]

Ron Paul is right about this only change the word “will” to the word “has”. Ron Paul has no idea about history or foreign policy.

[jodrogera]

Today at 12:41am
I keep trying to tell y'all as I see it , as a economist an option and stock trader. WE the PEOPLE do not have time to wait for elections IN NOVEMBER 2010. THE whole ECONOMY IS going to crash VERY SOON! DO not ask me what month ,day OR year! I am not a market timer! I will tell you this “when the DOW drop total 1000 points, the vix the most volatile it has ever been and the DOW trys to bounce up to previous support levels and does not quite make it and starts to make another 400-500 drop ( commonly called the “ DEAD CAT BOUNCE”) or a small series of drops totaling 1400 points loss this will be the beginning! AS of 8-7-09 CBOE Volatility Index Options - (VIX)
Volume Call Put Total
105,729 40,303 146,032
Open Interest 1,610,400 798,962 2,409,362
Level High Low Close Change
24.95 23.98 24.76 -0.91
BINARYS Derivatives are what is keep the markets up right now.A tremendous amount of puts for OCTOBER& NOVEMBER are all ready are buy to open. I never said auditing will prevent the crash and crisis, but the crisis will not last as long if we will shut down the federal reserve and replace it with a accountable system that is backed by gold . Ask God for help, Jod. NOTE a LETTER from freedom resident; Introduction
The following is just my opinion. It is nothing more than my opinion. I have nothing to substantiate or prove any aspect of my opinion. My opinion is simply the logical conclusion of a law-abiding sixty-year old Christian grandfather who has both an engineering degree and an M.B.A. degree and who has seen both good times and hard times during his life.

The Current Situation:
At the present time every nation in the entire world is facing serious financial and social stress. If only a few nations were involved then it might be possible to contain the upcoming meltdown to a few specific geographical areas. This has been successfully done in the past. However, since the entire world is currently on the edge of the cliff, when the meltdown begins it will impact almost everyone on the face of the earth.
Unless God chooses to intervene, the meltdown is no longer avoidable. Our governments and our financial institutions are no longer in control. However, to keep the system working just a little longer they must maintain the illusion that they have the system under control. But the system is broken and it can't be fixed.
There are two reasons why the system can't be fixed:
It has grown beyond its own capacity to support itself.
It has become so complex that no one can do anything significant to fix it because it is hemorrhaging in too many different places.
The average person in every nation on the face of the earth knows the meltdown is coming. The wealthy people know it. The poor people know it. Nobody wants it to happen. But almost everyone is just patiently waiting for it to begin and at the same time hoping that it doesn't begin too soon.
Nobody knows when the meltdown will actually start. It may begin one-month from now. Or a year from now. Or three-years from now.
But almost everyone knows that at some future date the meltdown will occur.
This widespread knowledge of the impending disaster is the reason that when the disaster begins it will quickly and completely spiral out-of-control in one-hour or less. In my opinion, most people do not seriously believe it could happen this quickly. Most people expect a more gradual meltdown. They may be right because nobody can predict the future, and that includes myself.

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The One-Hour Meltdown
However, my personal opinion is that once the meltdown begins then in less than one-hour it will quickly escalate far beyond anyone's ability to control or manage it on a worldwide basis. The five basic assumptions that cause me to believe in my “one-hour meltdown theory” are as follows:
Banks: The financial institutions around the world can not support bank runs world wide.