Posted on 01/04/2011 9:49:48 AM PST by Toddsterpatriot
In the new Congress, Ron Paul (R-Texas) will head the House committee that oversees the Federal Reserve. Thanks to the title of his book, we know he wants to end the Fed and paper money. But what will he replace it with? The short answer: metal-based currencies.
I recently participated in a hour-long radio debate on the Progressive Radio Network's Freedom News Hour with two Paul supporters who wanted to take me up on the challenge of being proven wrong in my disagreements with seven of Paul's points about the Fed. I really enjoyed this debate and learned some important things.
Of these, none is more significant than what my debate partners believe Paul would do if he could end the Fed. According to them, Paul isn't ready to go directly back to the gold standard. Instead, he wants to keep the dollar and add three more currencies. Those would be based on gold, silver and copper.
(Excerpt) Read more at dailyfinance.com ...
They can borrow $100 in the Fed Funds market or they can sell the loan.
But I want my 100 now.
The Fed isn’t going away, so the hypotheses concerning alternate currencies are not relevant to anything.
As soon as you prove your original claim.
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