Ron Paul on Gold vs. the Dollar

Date: 06/02/2010
Channel: Fox Business

  • Citizen

    A FATHER’S DAY REBUT of Fred’s & Forest’s hyperbole, jingoism, and belligerent nationalism.
    Fallacy Rants:
    RANT # 1: “Cheap “slave labor is destroying American jobs” – Cheaper labor exists ALL over the world, Indonesia, China, Taiwan, Mexico, India, Brazil etc and businesses will always seek both cheaper and smarter labor to cut costs,. America had 8 decades of Union wage extortions compounded by Government tax bracket creep and extreme regulation, turning “Made in America” into a sad distant joke.
    Bottom line… American LABOR has priced itself OUT of the Global Market, James McMurtry said it right, “WE can’t make it here anymore”, because we’ve been duped and cheated by BIG Labor and Big Government.

    RANT #2: “Tariffs will Protect American Jobs” Wrong, the history of tariffs is a litter box of failed political favors handed out to political cronies; regardless workers still get screwed in any tariff deal. Tariffs only ignite trade wars that hammer the American consumer, a lose-lose proposition.
    Bottom line… we can’t make Wal-Mart or Caterpillar stuff cheaper here in American with Minimum Wage rules and Unions keeping wages artificially high. Our government and unions prefer 17%+ unemployment along with and paying 60 weeks of unemployment benefits rather than permitting American workers to complete in the REAL WORLD LABOR market.

    RANT #3 “the shinny yellow rocks are worthless” Gold remains a time tested STANDARD.
    Bottom Line… Dr Paul’s point is that governments hate gold because it holds government accountable, naturally preventing their gutless dilution schemes by printing fiat paper.

    RANT #4: “where’s the inflation?” [Fred’s favorite] The 2008 housing 50%+ INFLATION bubble finally popped and now we’re paying the “Deflation” costs in a long trough where massive ARTIFICIAL wealth is lost, a classic price correction of hyper-inflated housing prices. If and when the economy recovers, it will likely be spurred by another currency BUBBLE sponsored by Fannie, Freddie and the FED, and we’ll experience another round of double digit PLUS inflation.
    Bottom line… The Government uses the FED to repeatedly pump up bubble after bubble with bogus inflated currency which in turn repeatedly hammers the American working family with tragic wealth losses and chronic bouts of unemployment.

    RANT #5: “the USD is great” [Forest] This is a classic blind faith rant of his that really drives home the point that Fred and Forest are simply big Gov and FED cheerleaders… “Ignore the man behind the curtain”, yea that guy who’s manipulating your lives with ruthless disregard for your family and your children’s children. Even Robert Gibbs aka “Baghdad Bob” is stumbling for words to cover the ever widening gulf of lies and cover ups.
    Bottom line… The USD is a doomed currency that is headed for the proverbial “crackup boom” [LV Mises] and even the gates of hell will not prevail against the collapse.
    FINALLY, the Brothers Dim have collectively never made a cogent argument backed by facts.