When it comes to the Fed, military spending, bailouts, and upholding the constitution, Ron Paul stands alone, and he is about to make Bernanke miserable.
Please consider The Fed? Ron Paul’s Not a Fan
On Thursday, House Republican leaders announced that Representative Ron Paul of Texas, the outspoken Republican libertarian who ran for president in 2008, will become the chairman of the subcommittee that oversees the Fed. His position on the central bank is captured in the title of his 2009 book, “End the Fed”. Here’s some of what he wrote:See the article for more select quotes regarding The Bailouts, The Beginning of the End, and Fed Chairman He Has Known
The Gold Standard
“Whenever I talk of a gold standard, there are always people ready to accuse me of having some obsession or fixation. Fetish is a word thrown around. In fact, I’m only observing reality: the idea of sound money in most of human history has been bound up with gold money.”
A Full-Time Counterfeiting Operation
On Mr. Bernanke: “There is something fishy about the head of the world’s most powerful government bureaucracy, one that is involved in a full-time counterfeiting operation to sustain monopolistic financial cartels, and the world’s most powerful central planner, who sets the price of money worldwide, proclaiming the glories of capitalism.”
New Money Out of Thin Air
“Only the Federal Reserve can inflate the currency, creating new money and credit out of thin air, in secrecy, without oversight or supervision. Inflation facilitates deficits, needless wars and excessive welfare spending.”
Low Interest Rates
“Artificially low interest rates are achieved by inflating the money supply, and they penalize the thrifty and cheat those who save. They promote consumption and borrowing over savings and investing. Manipulating interest rates is an immoral act. It’s economically destructive.”
The Obama Legacy
“For the same reason a disease cannot be cured by more of the germ that caused it, the inflation and debt accumulation of the Obama years will not inflate our way out of it. This depression will likely last and last.”
Submitted by Jim Alex
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