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Ron Paul has asserted for many years that inflation is a tax that benefits those who get all that freshly printed money first, and harms everyone else. Today, Fed Chairman Ben Bernanke agreed with that assertion, but failed to present a viable plan for saving the collapsing dollar:

The Fed is now in an impossible situation. [...]

Who is in charge of the dollar? The Federal Reserve says it’s the Treasury Department and the Treasury Department says it’s the Federal Reserve. Watch Ron Paul try to get a response from Treasury Secretary Henry Paulson.

Later, Ron Paul recorded the following comments:

Congressman Ron Paul comments on the Federal Reserve’s decision to maintain interest rates and raises concerns about inflation on June 25, 2008.

by Ron Paul

Oil prices are on the minds of many Americans as gas hits $4 a gallon, and continues to surge. How high can prices go? How can we solve these problems? What, or who, is to blame?
Part of the answer lies in understanding bubbles and monetary inflation, but especially the Federal [...]

Ron Paul questioned former Chairman of the Federal Reserve, Paul Volcker, at a Joint Economic Committee (JEC) hearing ominously titled “Wall Street to Main Street: Is the Credit Crisis Over and What Can the Federal Government Do to Prevent Unnecessary Systemic Risk in the Future?”
Ron Paul expressed his disapproval of reserve requirements going down to [...]

In response to Ben Bernanke’s speech on why the Fed is the solution to (and not the cause of) our financial problems, Ron Paul was interviewed by David Asman on the Fox Business Channel:

Memorable quotes:
“One time it was gold [that backed our currency], then it was silver, then it was treasury bills, then it [...]