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Monetary Policy
Ron Paul: I’m Concerned about the Erraticness of the Dollar
171 ResponsesTranscript News Anchor: Are you concerned about this drop that we’ve seen in gold? Ron Paul: I’m concerned about the erraticness of the dollar. The dollar goes up, the dollar goes down, we print a lot of dollar and the dollar gets devalued, that’s really the concern. If people think that the gold price going [...]
Ron Paul: The Great Cyprus Bank Robbery
53 Responsesby Ron Paul The dramatic recent events in Cyprus have highlighted the fundamental weakness in the European banking system and the extreme fragility of fractional reserve banking. Cypriot banks invested heavily in Greek sovereign debt, and last summer’s Greek debt restructuring resulted in losses equivalent to more than 25 percent of Cyprus’ GDP. These banks [...]
Ron Paul: Krugman’s Trillion Dollar Coin is NOT Real Wealth
242 Responsesby Ron Paul Last week President Obama bluntly warned Congress that he will not negotiate when it comes to raising the statutory debt limit. If Republicans attempt to use a debt ceiling vote to win concessions on spending from the White House, Mr. Obama threatens simply to raise the limit by executive order or other [...]
Ron Paul: No More Bailouts! Banks Should Be Allowed to Fail…
207 Responsesby Ron Paul French businessman and economist Jean-Baptiste Say is credited with identifying the fundamental economic principle that aggregate demand for goods in an economy will equal the aggregate supply of goods when markets are permitted to operate. Or in Say’s words, “products are paid for with products.” English classical economist David Ricardo, among others, more fully developed [...]
Ron Paul: Why Governments Hate Gold and Love Fiat Money
195 Responsesby Ron Paul Last year the Chairman of the Federal Reserve told me that gold is not money, a position which central banks, governments, and mainstream economists have claimed is the consensus for decades. But lately there have been some high-profile defections from that consensus. As Forbes recently reported, the president of the Bundesbank (Germany’s [...]
Ron Paul: How the Fed’s “Wise Gurus” Devastate America
179 Responsesby Ron Paul One of the most enduring myths in the United States is that this country has a free market, when in reality, the market is merely the structural shell of formerly free institutions. Government pulls the strings behind the scenes. No better illustration of this can be found than in the Federal Reserve’s [...]
Ron Paul: Restore the Dollar
267 Responsesby Ron Paul We frequently hear the financial press refer to the U.S. dollar as the “world’s reserve currency,” implying that our dollar will always retain its value in an ever shifting world economy. But this is a dangerous and mistaken assumption. Since August 15, 1971, when President Nixon closed the gold window and refused [...]
Ron Paul: Legalize Competing Currencies
112 Responsesby Ron Paul I recently held a hearing in my congressional subcommittee on the subject of competing currencies. This is an issue of enormous importance, but unfortunately few Americans understand how the Federal Reserve and Treasury Department impose a strict monopoly on money in America. This monopoly is maintained using federal counterfeiting laws, which is [...]
