Ron Paul: The Dollar Is Next

Ron Paul released a video update on the Stimulus Package. He says that the Keynesian and socialistic mentality behind the package will run the economy further into the ground and might eventually destroy the dollar.

Source: Campaign for Liberty
Date: 2/7/2009

Key points:

  • The “stimulus” package is a pure spending package and it looks like the package will be passed
  • 3 Republican Senators have agreed to vote with the Democrats (Sens. Susan Collins and Olympia Snowe, both of Maine, and Sen. Arlen Specter of Pennsylvania)
  • In the House, all Republicans voted against the package, but it was too little to late; they are “born again budget conservatives”
  • We need more spending, but it has to be done by market forces, not the government
  • Artificially low interest rates and inflation caused malinvestment
  • The stimulus package is more of the same, and it exacerbates the problem and runs the economy into the ground
  • There is now a dollar bubble and there will be a dollar collapse once foreigners stop buying our debt
  • Government intervention, socialism paper money, and dependency on the government brought us to our knees
  • There is hope as many people are looking into this matter; we must do our very best to move this country into the right direction

Read CNN’s article on the video.