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Lyndehouse (December 31, 1969 at 11:59 pm)
List me one fiat currency that stood the test of time. I can show you many civilizations that deteriorated due to the debasement of their currency, starting with Roman denarius losing its silver content.Don't trust Keynes or Bernanke just because your economics teacher taught you it. The Austrian school rules history and we are reaping the fruits of ignoring this.
Lyndehouse (December 31, 1969 at 11:59 pm)
But one of the Fed's main 'manipulation' tools is to lower or raise interest rates to banks---they can only afford to offer 'easy money' to banks because they can print dollars without gold, silver or commodity backing. Totally immoral and destructive.
Moionfire (December 31, 1969 at 11:59 pm)
The problem isn't so much not being on a gold or silver standard, but that the FED manipulates the economy TOO much...
TexasBroski (December 31, 1969 at 11:59 pm)
Why does the government silence this guy? hhhmmm...Maybe its because they dont want him to fix America! Jesus fucking Christ!
RonPaulisInsane (December 31, 1969 at 11:59 pm)
The bailout is trying to inject capital into the banks to prevent them from becoming insolvent. A few percent equity can prevent the whole institution from collapsing.But you are right. I don't think the fed's interest rate cuts are going to do much now.
Lyndehouse (December 31, 1969 at 11:59 pm)
The problem is the only tools at the Fed's disposal are printing more money out of thin air and lowering interest rates---which just adds fuel to the fire. The US is done for my friend unless integrity is created and this is not likely because of greed, pride and the elite desire for secrecy and control.
RonPaulisInsane (December 31, 1969 at 11:59 pm)
Our government did make many mistakes that created this crisis. Destroying the world's economy is not the answer.My site's comment board asks many hard hitting questions about Ron Paul's *never blame the free market* mantra.
Lyndehouse (December 31, 1969 at 11:59 pm)
We need real money (backed by gold, silver or commodities) and the Fed not setting interest rates. I believe the Fed should stay but become much more transparent in their activities. Printing money out of thin air or lowering interest rates (below market levels) turns our dollar into monopoly money and screws the poor most. THE FED NEEDS INTEGRITY NOT SECRETIVE PRIVATE BANKERS MAKING DEALS IN BACKROOMS.
RonPaulisInsane (December 31, 1969 at 11:59 pm)
Lyndehouse, a financial collapse would cause a catastrophic contraction in our money supply that would go far beyond anything we are seeing now.My site's video from Milton Friedman describes how.
Lyndehouse (December 31, 1969 at 11:59 pm)
Actually what we are doing now is insane. These bailouts and stimulus checks will be the base for a decade long depression and will lead to the dissolution of the United States. |
