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Re: Monetary Policy and the State of the Economy - Ron Paul
Posted by: freethinkerkeywest
Date: 02/20/2007 05:02AM

Can this man see through the bullshit like no other Congressman?

The dollar today is worth only four cents compared to the dollar in 1913, when the Federal Reserve started.  This has profound consequences for our economy and our political stability.  All paper currencies are vulnerable to collapse, and history is replete with examples of great suffering caused by such collapses, especially to a nation's poor and middle class.  This leads to political turmoil.

Even before a currency collapse occurs, the damage done by a fiat system is significant.  Our monetary system insidiously transfers wealth from the poor and middle class to the privileged rich.  Wages never keep up with the profits of Wall Street and the banks, thus sowing the seeds of class discontent.  When economic trouble hits, free markets and free trade often are blamed, while the harmful effects of a fiat monetary system are ignored. We deceive ourselves that all is well with the economy, and ignore the fundamental flaws that are a source of growing discontent among those who have not shared in the abundance of recent years.


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