@@gustavfourie5099 I am Dutch so I am wondering if it is targeted specifically at the Federal Reserve or if it is relevant for central banking in general as well?
@@Ghosty6464 If your system periodically turns in to a crisis, which can only be solved by having a monopoly on currency and doing immense cash injections to commercial banks, while on the go peoples' savings and property become compromised as the people are being saved from mass homelessness and poverty, it's time to re-evaluate. You're threatened, offered a feeding hand, and you are expected to give back. Convenient.
I miss this guy. They’d make fun of him because he’d ramble, but in actuality he’s speaking insane truth that people collectively don’t want to face. He had the brass balls to dress down the fed chairman like this.
Well they did it AGAIN since we didn't blow up the federal reserve, legally, illegally or otherwise. It's still there. Some rebellion based country this is! CIA psy ops have made people complacent/a bunch of pussies who don't care for future generations
Paul is right, but you are way wrong to think that this will be taught in public schools....everything that government does would prevent this from being in schools.
Bernanke like " I'll be happy to talk about it, lets go to my office Mr. Paul".....Than Bernanke shuts the door and pulls out the Gat, But he aint know Dr. Paul had tha loaded 12 gauge.........
Peter Schiff ran for Connecticut senate in 2010, but unfortunately lost in the primaries since Linda McMahon pretty much bought the election. Linda didn’t even decide to do another debate with the two candidates she was up against (Peter and some retired veteran, I forget his name). She sounded far too much like Mitt Romney, which probably attracted a lot of voters, but indeed Peter was just too principled to win.
I'm actually glad he didn't win. Powers that be would have run the biggest smear on him and his ideas ever, probably setting the concept of liberty back 500 years as the common person jeers and accepts anything they are told if not doing so would get them called a bad word or have their comfort or livelihood disrupted.
One thing that I can always relate to is what Spike Cohen said about Ron Paul, like spike I grew up pretty much a Neocon. Spike Cohen said "I think I was mad at Libertarians like Ron Paul, because it turned out they were always right." Ron Paul has to go down in my opinion as the least swayed, most loyal, and the most likely person to never vote or cave in based upon emotion. Dude was only one of two people who voted against the war in the middle east after 9/11 and even fought about it, and explained exactly what was going to happen, actually predicted the exact scenario before we ever even went over, and the amount of hate for him at the time was universal, however he was right. He was right about about the Fed, he was right about the expansion of government power and the loss of freedom, Ron Paul has pretty much told everyone the outcome of ever decision made by the government before the bill was even voted on. I actually found a video that was circulating on facebook, of "Ron Paul predicting the future" showing him talking in congress and on the news about things before they ever happened, one of the biggest ones was about desert storm, and how in some way it would cause a backlash.
The guy who also wants to legalize heroin, cocaine, meth and prostitution? That thinks states should decide slavery? He has taken libertarianism beliefs to an extreme, without thinking things through.
Here's the thing Ron, you are right. A physical metal standard would be great for the people. As if they dont know that. The goal is to hurt, not help, the people
@@henrygustav7948 well tbh yes he is referring to physical material simply because the concept of currency and what is of value was not very well thought out, hell even today it’s still not perfect but with Crypto and how the market is looking Ron is correct a fractional banking institution would implode if there where no funding for it by private investors, because nobody will care about your paper dollars 💸 even if we switch over completely to crypto currency our paper would always be worth less because it’s a promise that it’s worth value by our centralized government, unlike a dedicated blockchain with proof of stake and a decentralized core, the code is what powers the system just like the code that powers the system for me to relay this message
@@spacecassette2108 Actually it is thought out and understood. Ron Paul is just not going to understand. All money is a debt instrument and all debt instruments have 2 sides an asset side and a liability side. Whether its paper or gold, currency represents debt, its an iou. Anyone can create their own iou/money the trouble is how to get people to accept your currency? You can do me a favor and I could be in debt to you. I could then write on a piece of paper that you did that favor for me and I owe you something similar in value. My debt = your asset. You could then go around and give that piece of paper to someone else so long as anyone who accepts my money trusts me to return that favor and fulfill that promise to repay the favor. It is transferrable debt that will be accepted by people who trust me. Once that piece of paper comes back to me, I fulfill that promise and rip up that piece of paper as I can not owe myself something. The US dollar is accepted in many many places because of the taxes that drive its demand. The US dollar is a debt of the US govt and an asset to those who hold those dollars in the economy. Like my iou, the US dollar is the Govt's liability, it promises that that piece of paper will always be good to use to fulfill tax obligations. Once the Govt's dollars are returned to the US federal govt, US dollars are destroyed as tax liabilities are extinguished. "fractional banking institution would implode if there where no funding for it by private investors" We do not have fractional reserve banking, today all loans create the deposits. Banks create credit money out of thin air when you go in for a loan and sign that agreement, the bank creates an account with a deposit along with an agreement for you to repay that loan. Cryptocurrency is based in speculation and faith, the US dollar has the force of the federal govt behind it with taxes driving the demand for US dollars. What do you think happens when you don't pay your taxes? There is a hierarchy of money that you may not be aware of. Chucky cheese tokens are money, Disney dollars are money, how far that money goes depends on how much people trust that currency, how many people will accept that currency.
@@spacecassette2108 If we were to do what Ron Paul wants to do, that would result in many people dying, result in depressions, loss of jobs. As economist L. Randall Wray sums it here, “if we want our private sector to save, which almost everybody agrees is a good idea, the public sector must run a deficit.” And what happens when the public sector runs a surplus? The US has done so 7 times, and Wray has an answer: “The first 6 of those were followed by our only 6 depressions.” And the 7th was during the Clinton years, which led to a recession in the early 2000s and then a global financial collapse in 2008. medium.com/@johnnybowman/how-modern-monetary-theory-changed-my-mind-d98a67a1556d 1817-1821 debt paid down & budget in surplus (depression began 1819) 1823-1836 debt paid down & budget in surplus (depression began in 1837) 1852-1857 debt paid down & budget in surplus (depression began in 1857) 1867-1873 debt paid down & budget in surplus (depression began in 1873) 1880-1893 debt paid down & budget in surplus (depression began in 1893) 1920-1930 debt paid down and budget in surplus (depression began in 1929 1998-2001 debt paid down and budget in surplus (recession 2001 2008)
I'm sorry but you couldn't be more wrong. And It's not a "natural" lack of value in fiat dollars causing inflation in particular markets and thereby causing currency devaluation in those markets, it's F.I.R.E. economics. It's Wall Street instrument inflation. This is evident in the housing bubble fallout, and now in the medical and pharmaceutical industries, which are also majorly fueled by speculation. The housing bubble crash really would have been a disaster like 1929 if the US Dollar were gold standard. But foreigners who want to destroy our REAL ECONOMY have put out this propaganda about the Fed fiat dollar not being real, and have further perpetuated the absolute myth that US sovereign debt will cause insolvency, when it in fact only balances private surplus against public deficit (money creation). The benefits of fiat SOVEREIGN currency are numerous, but here are just a few. 1. Fiat allows for economic expansions like industrial innovation, international trade, rising birth rates (new people will need money to spend and household expenses go up for new parents). Gold standard money cannot expand any faster than the gold market. This is why Congress took us off the gold standard every time we went to war and needed to fuel the war industry economy. This fueling of economy for war could be done for other industries in times of peace. It's just government spending BELOW CAPACITY, which means money creation with no risk of inflation. 2. Fiat insures budget solvency during money creation (deficit spending). The gold standard and lack of QE is why the INSTRUMENT INFLATION ON WALL STREET in the late 20's led to the Great Depression. The gold standard prevented the government from moving resources through public spending and PUTTING AMERICANS BACK TO WORK. Gold standard makes government debt REAL, thereby crippling Congress and our economy. The transfer of wealth today, takes place in the stock market, by inflating the price of goods via the attached instruments (like the housing bubble). This is no different than how the transfer of wealth took place in the 20's. To blame this WALL STREET INSTRUMENT INFLATION on the fact that the dollar is fiat is sheer lunacy, with no basis in fact and NO LOGIC. If the US Dollar were affixed to gold, WALL ST inflationary practices would have DIRE CONSEQUENCES, as in the GREAT DEPRESSION. 3. Fiat insures Treasury Bond solvency. Affixing the dollar to gold would hold the US Government responsible to FOREIGN INVESTORS FOR GOLD IN THE BOND MARKET. The bond market's purpose is to encourage investment, both foreign and domestic, in our NATION"S INFRASTRUCTURE. The debt is currently nominal, with no risk of insolvency, because the money is fiat and sovereign. 4. As long as our money is sovereign "fiat," foreign gold markets cannot "jerk" our currency around, or FORCE Congress to create more money, or raise taxes. If foreign markets caused the gold prices to go up, and our Dollar was gold standard, the Treasury through the Fed would have to create money and deposit it in the account at the Fed just to cover the new "price" of gold. If the gold went down in foreign markets, the Fed would have to respond with high interest rates on bond offerings. Sounds like FIAT MONEY TO ME, which simply means by decree. But a gold standard "decree" would put our Congress and our central bank at the mercy of the global gold market. That would be really STUPID. Gold or no, Congress has the power to fix the economy through spending and taxing back in some of the currency. If Ron Paul would read an MMT book, he might learn something. The very reason for gold's "high" value is the same as the reason for the housing securities' "high value," that is, SPECULATION. So the "real" value of gold is not actually any more "real" than the value of any metal, or commodity or resource. If the fiat money is used to purchase goods and services, thereby moving real resources, including gold, and employing citizens to do work, it is AFFIXED TO THOSE RESOURCES THROUGH SPENDING and is thereby REAL MONEY. th-cam.com/video/WS9nP-BKa3M/w-d-xo.html
Yeah sure, go ahead and send gold by airplane to California to import goods and services, I'm sure it's much more efficient than dollars which can be sent electronically through the internet in a matter of seconds with confirmation. Dollars are more technologically advanced than gold and silver and are better controlled in this age and environment. Gold and silver are the pre-industrial currencies. I'm not against holding gold and silver, in fact it's a good idea, I'm just pointing out that they do have severe limitations in the internet age.
Ron Paul, like Peter Schiff, is a huckster who wants your REAL DOLLARS invested in HIS SHARES IN THE GOLD FUTURES MARKET. He knows that if the dollar is affixed to gold, it would encourage investment in gold, and cause a nice inflationary bubble for him to milk. Or maybe he's just stupid and innocent. He just said he wants people to put money in a mattress. That sounds pretty crappy for currency movement (aka an economy). So either Ron Paul doesn't understand a thing or three about the fiat dollar, or he does and he wants to sell you gold. I have a suspicion that he's just an idiot, since he loves the economic theory of a NOVELIST whose writing wasn't even very intelligent, so much that he named his son after her. Her fiction named characters as heros who had built their businesses in GOVERNMENT SUBSIDIZED MARKETS. The benefits of fiat SOVEREIGN currency are numerous, but here are just a few. 1. Fiat allows for economic expansions like industrial innovation, international trade, rising birth rates (new people will need money to spend and household expenses go up for new parents). Gold standard money cannot expand any faster than the gold market. This is why Congress took us off the gold standard every time we went to war and needed to fuel the war industry economy. This fueling of economy for war could be done for other industries in times of peace. It's just government spending BELOW CAPACITY, which means no risk of inflation. 2. Fiat insures budget solvency during money creation (deficit spending). The gold standard and lack of QE is why the INSTRUMENT INFLATION ON WALL STREET in the late 20's led to the Great Depression. The gold standard prevented the government from moving resources through public spending and PUTTING AMERICANS BACK TO WORK. Gold standard makes government debt REAL, thereby crippling Congress and our economy. The transfer of wealth today, takes place in the stock market, by inflating the price of goods via the attached instruments (like the housing bubble). This is no different than how the transfer of wealth took place in the 20's. To blame this WALL STREET INSTRUMENT INFLATION on the fact that the dollar is fiat is sheer lunacy, with no basis in fact and NO LOGIC. If the US Dollar were affixed to gold, WALL ST inflationary practices would have DIRE CONSEQUENCES, as in the GREAT DEPRESSION. 3. Fiat insures Treasury Bond solvency. Affixing the dollar to gold would hold the US Government responsible to FOREIGN INVESTORS FOR GOLD IN THE BOND MARKET. The bond market's purpose is to encourage investment, both foreign and domestic, in our NATION"S INFRASTRUCTURE. The debt is currently nominal, with no risk of insolvency, because the money is fiat and sovereign. 4. As long as our money is sovereign "fiat," foreign gold markets cannot "jerk" our currency around, or FORCE Congress to create more money, or raise taxes. If foreign markets caused the gold prices to go up, and our Dollar was gold standard, the Treasury through the Fed would have to create money and deposit it in the account at the Fed just to cover the new "price" of gold. If the gold went down in foreign markets, the Fed would have to respond with high interest rates on bond offerings. Sounds like FIAT MONEY TO ME, which simply means by decree. But a gold standard "decree" would put our Congress and our central bank at the mercy of the global gold market. That would be really STUPID. Gold or no, Congress has the power to fix the economy through spending and taxing back in some of the currency. If Ron Paul would read an MMT book, he might learn something. The very reason for gold's "high" value is the same as the reason for the housing securities' "high value," that is, SPECULATION. So the "real" value of gold is not actually any more "real" than the value of any metal, or commodity or resource. If the fiat money is used to purchase goods and services, thereby moving real resources, including gold, and employing citizens to do work, it is AFFIXED TO THOSE RESOURCES THROUGH SPENDING and is thereby REAL MONEY. th-cam.com/video/5baKgv7Zl5g/w-d-xo.html
Roofchatter holy shit dude. Why do you hate Ron Paul so much? You really think he does this for a couple extra dollars in his pocket? You are siding with international bankers over an old man who served and most likely has the best interest for the country in mind. You must be a troll or something.. or just seriously ill
Thank you ABC for posting this, even though Ron Paul didn't get treated fairly from mainstream media or he would have been president. Please continue posting relevant content like this, hard-hitting journalism that favors the people's well-being, as opposed to catering to the highest bidder or just following orders.
Paul: you don’t get it. This shalom Bernanke is not an American, his a Jewish. Don’t you get it? They are loyal to their religion, not to any countries flag.
If the Fed Chair controls inflation (by printing money or cash restriction) and the President and Congress create taxes or lower the taxes, then it’s clear every year who to vote for. It’s economic not political personalities.
Public debt? It's all corruption between politicians and Bankers. Here's the point: If only the State can print money, how is it the State is indebted in the "product" that only the State can produce? Who are those "private people" who are claiming that debt to the State: do they print money?!
thats if your country remains in a good economy for that long! then sure the value of a particular currency may go up but it can also go down! therefore silver is preferred because it is stable!
It's not a "natural" lack of value in fiat dollars causing inflation in particular markets and thereby causing currency devaluation in those markets, it's F.I.R.E. economics. It's Wall Street instrument inflation. This is evident in the housing bubble fallout, and now in the medical and pharmaceutical industries, which are also majorly fueled by speculation. The housing bubble crash really would have been a disaster like 1929 if the US Dollar were gold standard. But foreigners who want to destroy our REAL ECONOMY have put out this propaganda about the Fed fiat dollar not being real, and have further perpetuated the absolute myth that US sovereign debt will cause insolvency, when it in fact only balances private surplus against public deficit (money creation). The benefits of fiat SOVEREIGN currency are numerous, but here are just a few. 1. Fiat allows for economic expansions like industrial innovation, international trade, rising birth rates (new people will need money to spend and household expenses go up for new parents). Gold standard money cannot expand any faster than the gold market. This is why Congress took us off the gold standard every time we went to war and needed to fuel the war industry economy. This fueling of economy for war could be done for other industries in times of peace. It's just government spending BELOW CAPACITY, which means money creation with no risk of inflation. 2. Fiat insures budget solvency during money creation (deficit spending). The gold standard and lack of QE is why the INSTRUMENT INFLATION ON WALL STREET in the late 20's led to the Great Depression. The gold standard prevented the government from moving resources through public spending and PUTTING AMERICANS BACK TO WORK. Gold standard makes government debt REAL, thereby crippling Congress and our economy. The transfer of wealth today, takes place in the stock market, by inflating the price of goods via the attached instruments (like the housing bubble). This is no different than how the transfer of wealth took place in the 20's. To blame this WALL STREET INSTRUMENT INFLATION on the fact that the dollar is fiat is sheer lunacy, with no basis in fact and NO LOGIC. If the US Dollar were affixed to gold, WALL ST inflationary practices would have DIRE CONSEQUENCES, as in the GREAT DEPRESSION. 3. Fiat insures Treasury Bond solvency. Affixing the dollar to gold would hold the US Government responsible to FOREIGN INVESTORS FOR GOLD IN THE BOND MARKET. The bond market's purpose is to encourage investment, both foreign and domestic, in our NATION"S INFRASTRUCTURE. The debt is currently nominal, with no risk of insolvency, because the money is fiat and sovereign. 4. As long as our money is sovereign "fiat," foreign gold markets cannot "jerk" our currency around, or FORCE Congress to create more money, or raise taxes. If foreign markets caused the gold prices to go up, and our Dollar was gold standard, the Treasury through the Fed would have to create money and deposit it in the account at the Fed just to cover the new "price" of gold. If the gold went down in foreign markets, the Fed would have to respond with high interest rates on bond offerings. Sounds like FIAT MONEY TO ME, which simply means by decree. But a gold standard "decree" would put our Congress and our central bank at the mercy of the global gold market. That would be really STUPID. Gold or no, Congress has the power to fix the economy through spending and taxing back in some of the currency. If Ron Paul would read an MMT book, he might learn something. The very reason for gold's "high" value is the same as the reason for the housing securities' "high value," that is, SPECULATION. So the "real" value of gold is not actually any more "real" than the value of any metal, or commodity or resource. If the fiat money is used to purchase goods and services, thereby moving real resources, including gold, and employing citizens to do work, it is AFFIXED TO THOSE RESOURCES THROUGH SPENDING and is thereby REAL MONEY. th-cam.com/video/WS9nP-BKa3M/w-d-xo.html
Since everything is definitely going down the drain, why isn't anyone in government discussing freezing both rents and wages among other things , to protect the millions of Americans like they were hired to do?
I am now totally convinced that paper and stock investments are less than worthless. I am going to spend the rest of my life investing in precious metals only. I may save in cash temporarily but only to then periodically get bulk coins, plates, et cetera. The only investment that NEVER goes belly up is precious metal. Been that way since literally the beginning of civilization.
That's fine, you'll miss out on enormous returns like Amazon, Apple, Facebook, and Tesla. The entire world doesn't just consist of gold and silver, it consists of many products, goods and services. The problem with gold bugs is they have tunnel vision and believe that world revolves around only gold and silver.
When Ron Paul said we could vote on it, it could have been done. Now in 2020 we have lost the right to vote in honest elections and the will of the people can't even be discussed due to the loss of free speech. Soon nobody will even be able to debate what to do, to regain the ability to vote and have future honest elections or voting power. It's amazing how fast America died and how many people have no idea that the Government is no longer in the hands or control f the people.
Well Said 🎯 What if I told you... WWIII was fought & won... Without 1 single round fired? So many Americans are unaware that WW3 was started & they've already lost...
@@WhoIsDanteFresh The world ended in 2012 when the Federal Reserve refused to be audited and said they would shut down the cornerstones of the entire world if they insisted the audit. Since then all nations have bent to the will of those who control all of our infrastructure in attempt to save the people from the pain and death that will come if they shut it all down. The game is over and our Governments are acting on fear and not logic and will lead us to slaughter as to *caugh *caugh...protect us. The road to ruin is paved by good intentions. Welcome to the end of the road.
@CAl Gond the banks make money artifically inflating assets and as such devalue actual work. If the money they generated was actually used to build more homes rather than give people more money to sustain the housing bubble they'd not be metaphorical parasitic leeches on the economic system they created where they get paid to ensure that wealth creates more wealth.
And today it's even more true, Ron Paul did not miss...... I am going back listening to his videos and everything he said that was going to happen came or it is happening now.
It's all a show people. They allow Ron Paul to do this because it makes us feel like we have a voice in congress. This keeps people from revolting. Rather Paul is for real or he's just taking the Candy, I don't know. But now that he's gone his Rand Paul is trying to take it. I don't fall for it, I like Paul, but I think all he will do is address issues and nothing will get done. He wants to abolish the fed? He can't do that if he won president.
True it really just about pegging it to the value of gold. Like if gold value increases so does the dolor and vis a versa. We could also deflate and then go back on the standard. Good question though
mitzvah golem , Scarcity is a requisite for value. Once off the silly dollar system, products may be priced in troy ounces and grams of gold or silver. It's the "dollar" that is the problem. It leads to legalized fraud and theft. "Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money. " - DWebster
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NICE to see so many coming back to listen to this guy say it as it is or was :)
Currently reading End the Fed by Ron Paul. You're a champion Mr Paul!
I just ordered it! How did you like it?
@@eugenioelverdin5656 top quality. I read it twice haha
@@gustavfourie5099 cool, you made my day!
@@gustavfourie5099 I am Dutch so I am wondering if it is targeted specifically at the Federal Reserve or if it is relevant for central banking in general as well?
@@liverpoolynwa9029 targeted at the Fed but Ron Paul does an amazing job at making it quite universal. It's a must read
Meanwhile in 2020..Gold is near all time highs and Powell's printer goes "Brrrrrr"
$2200oz
In nominal terms, we still have to take out at least 2500 for ath in real terms
@@yankchef4067 precisely
Buying silver instead of putting.my money in in a 401k plan seams smart.God help us all
Go buy gold then lol
This guy is very smart. He should have been the president for USA.
Unfortunately Ben is going to have to settle for Brookings Institution fellow.
he was too old and "not electable" but we have this senile ass in office
I agree… and Bernie should have won in ‘16… but the money changers don’t want guys like this
He got cheated
We aren't smart enough to elect Ron Paul
"Somebody is stealing wealth"....gee, I wonder who that could be Mr Paul.
*rubs hands profusely*
Shalom
@@MrAnsatsuken Okay, anti-semite. Ben Bernanke saved our economy.
the Fed....
@@Ghosty6464 okay bootlicker
@@Ghosty6464 If your system periodically turns in to a crisis, which can only be solved by having a monopoly on currency and doing immense cash injections to commercial banks, while on the go peoples' savings and property become compromised as the people are being saved from mass homelessness and poverty, it's time to re-evaluate.
You're threatened, offered a feeding hand, and you are expected to give back. Convenient.
I miss this guy.
They’d make fun of him because he’d ramble, but in actuality he’s speaking insane truth that people collectively don’t want to face.
He had the brass balls to dress down the fed chairman like this.
I came to see Ron Paul punch The Fed CHair... left seeing a murder.
he's in a state of shock & awe seeing his hero Ron Paul
Ron Paul foresaw what's happening now
Well they did it AGAIN since we didn't blow up the federal reserve, legally, illegally or otherwise.
It's still there. Some rebellion based country this is! CIA psy ops have made people complacent/a bunch of pussies who don't care for future generations
Ludwig von Moses and F.A. Hayek saw it coming
Behold, this is history in the making. Someday in the future this short video will be shown in class
@@nolan13075 wait...
Nolan Evans gold at $2,060 right now. Hyper inflation coming. Fool
@Chess Club Man nobody knows when the bubble will pop. But the writing is on the wall, this is completely unsustainable.
@@nolan13075 ron paul wrong? How is he wrong?
Paul is right, but you are way wrong to think that this will be taught in public schools....everything that government does would prevent this from being in schools.
THANK YOU RON PAUL AN AMERICAN HERO!
Ron is awesome 👏!
Finally someone who can properly define inflation!
Ron Paul was so smart, I wish he was stll in congress
"Depreciating federal reserve notes". Love it.
Bernanke like " I'll be happy to talk about it, lets go to my office Mr. Paul".....Than Bernanke shuts the door and pulls out the Gat, But he aint know Dr. Paul had tha loaded 12 gauge.........
legend. Living real legend. Much love for Ron Paul.
I want Peter Schiff to follow in Ron Paul's footsteps and sit on these commitees to spread the truth and grill the fed hacks.
That would be great, but will people give up their free stuff for freedom? I doubt it, but every day I hope and pray.
Peter Schiff ran for Connecticut senate in 2010, but unfortunately lost in the primaries since Linda McMahon pretty much bought the election. Linda didn’t even decide to do another debate with the two candidates she was up against (Peter and some retired veteran, I forget his name). She sounded far too much like Mitt Romney, which probably attracted a lot of voters, but indeed Peter was just too principled to win.
@@aayushdubey4015 yeah I know, pie in the sky dream
@@aayushdubey4015 When was the last time a capitalist won any seat in CT?
It doesn't only hurt savers. If you are pay check to pay check it still robs value.
Audit, expose and end the Federal Reserve
Ron Paul is a rare kind of politician: he is honest
He was never a politician. He was a statesman.
This exchange changed my economic perspective so many years ago. Thank you Dr. Paul!
This was posted 10 years ago, wow, now look where we are, about 5$ for a gallon of gas now, and Ron Paul saw it coming .
God bless Ron Paul. We need more just like him
Aged like fine wine
It always will.
Ron Paul = the Gandalf of liberty. I miss this man so much.
We could have had this man as President
Yea....... 😔
I agree - #Bernanke2024
I'm actually glad he didn't win. Powers that be would have run the biggest smear on him and his ideas ever, probably setting the concept of liberty back 500 years as the common person jeers and accepts anything they are told if not doing so would get them called a bad word or have their comfort or livelihood disrupted.
@@connor3030 dead 💀
lol the guy on the left 1:17
🤣
Wtf ha
1:17
America, why the fuck did you not listen to this guy???!??
2022 this is relevant as ever with record inflation
One thing that I can always relate to is what Spike Cohen said about Ron Paul, like spike I grew up pretty much a Neocon. Spike Cohen said "I think I was mad at Libertarians like Ron Paul, because it turned out they were always right." Ron Paul has to go down in my opinion as the least swayed, most loyal, and the most likely person to never vote or cave in based upon emotion. Dude was only one of two people who voted against the war in the middle east after 9/11 and even fought about it, and explained exactly what was going to happen, actually predicted the exact scenario before we ever even went over, and the amount of hate for him at the time was universal, however he was right. He was right about about the Fed, he was right about the expansion of government power and the loss of freedom, Ron Paul has pretty much told everyone the outcome of ever decision made by the government before the bill was even voted on.
I actually found a video that was circulating on facebook, of "Ron Paul predicting the future" showing him talking in congress and on the news about things before they ever happened, one of the biggest ones was about desert storm, and how in some way it would cause a backlash.
Lmao, yeah, guy did his homework.
Hate that he's right too, and I voted for him!
Things keep getting worse
The people in that room have no idea they're listening to an absolute legend.
The guy who also wants to legalize heroin, cocaine, meth and prostitution? That thinks states should decide slavery? He has taken libertarianism beliefs to an extreme, without thinking things through.
@@rs72098 lol wut?
Here's the thing Ron, you are right. A physical metal standard would be great for the people. As if they dont know that. The goal is to hurt, not help, the people
Ron Paul is a nutcase. Physical metal standard smh.
The American people of the late 1800s would whole heartedly disagree with a silver or gold standard
@@henrygustav7948 well tbh yes he is referring to physical material simply because the concept of currency and what is of value was not very well thought out, hell even today it’s still not perfect but with Crypto and how the market is looking Ron is correct a fractional banking institution would implode if there where no funding for it by private investors, because nobody will care about your paper dollars 💸 even if we switch over completely to crypto currency our paper would always be worth less because it’s a promise that it’s worth value by our centralized government, unlike a dedicated blockchain with proof of stake and a decentralized core, the code is what powers the system just like the code that powers the system for me to relay this message
@@spacecassette2108 Actually it is thought out and understood. Ron Paul is just not going to understand. All money is a debt instrument and all debt instruments have 2 sides an asset side and a liability side. Whether its paper or gold, currency represents debt, its an iou. Anyone can create their own iou/money the trouble is how to get people to accept your currency? You can do me a favor and I could be in debt to you. I could then write on a piece of paper that you did that favor for me and I owe you something similar in value. My debt = your asset. You could then go around and give that piece of paper to someone else so long as anyone who accepts my money trusts me to return that favor and fulfill that promise to repay the favor. It is transferrable debt that will be accepted by people who trust me. Once that piece of paper comes back to me, I fulfill that promise and rip up that piece of paper as I can not owe myself something.
The US dollar is accepted in many many places because of the taxes that drive its demand. The US dollar is a debt of the US govt and an asset to those who hold those dollars in the economy. Like my iou, the US dollar is the Govt's liability, it promises that that piece of paper will always be good to use to fulfill tax obligations. Once the Govt's dollars are returned to the US federal govt, US dollars are destroyed as tax liabilities are extinguished.
"fractional banking institution would implode if there where no funding for it by private investors"
We do not have fractional reserve banking, today all loans create the deposits. Banks create credit money out of thin air when you go in for a loan and sign that agreement, the bank creates an account with a deposit along with an agreement for you to repay that loan.
Cryptocurrency is based in speculation and faith, the US dollar has the force of the federal govt behind it with taxes driving the demand for US dollars. What do you think happens when you don't pay your taxes? There is a hierarchy of money that you may not be aware of. Chucky cheese tokens are money, Disney dollars are money, how far that money goes depends on how much people trust that currency, how many people will accept that currency.
@@spacecassette2108 If we were to do what Ron Paul wants to do, that would result in many people dying, result in depressions, loss of jobs.
As economist L. Randall Wray sums it here, “if we want our private sector to save, which almost everybody agrees is a good idea, the public sector must run a deficit.” And what happens when the public sector runs a surplus? The US has done so 7 times, and Wray has an answer: “The first 6 of those were followed by our only 6 depressions.” And the 7th was during the Clinton years, which led to a recession in the early 2000s and then a global financial collapse in 2008.
medium.com/@johnnybowman/how-modern-monetary-theory-changed-my-mind-d98a67a1556d
1817-1821 debt paid down & budget in surplus (depression began 1819)
1823-1836 debt paid down & budget in surplus (depression began in 1837)
1852-1857 debt paid down & budget in surplus (depression began in 1857)
1867-1873 debt paid down & budget in surplus (depression began in 1873)
1880-1893 debt paid down & budget in surplus
(depression began in 1893)
1920-1930 debt paid down and budget in surplus
(depression began in 1929
1998-2001 debt paid down and budget in surplus (recession 2001 2008)
Please let's ignore parties now, and rally behind a man like this.
Snowden is casually sitting behind Ron Paul
That isnt Snowden.
@@mysteryman9540 yes it is
Ryan C no it isn’t ??????????????????
@@SurvivingAnotherDay its a hologram
Dan Bartz ???????? U make no sense ?????????
You go Dr!
1:18 ... so weird guy
He was trying to make Ron Paul seem foolish for what he said but nobody entertained his antics.
That was his inner-demon making a showing.
I would have laughed. I thought it was ron paul making a bit of a dry joke
HE TRIED TO WARN US
The love for dr Paul in the comments is a good sign for america
Amazing how ABC News and other corporate lapdogs don’t talk of this real crisis ever
Still relevant 2021
KEEP STACKING THAT SILVER SLV
Are we going to ignore Satoshi Nakamoto at 1:04?
what? who? :D
Bitcoin buy signals kept popping up but we didn't pay attention....fu***k
Ron Paul dares to say that the Emperor isn't wearing any clothes ! The Emperor still laughs.
PRESIDENT PAUL!!!!!
Real Money is Gold and Silver
I'm sorry but you couldn't be more wrong. And It's not a "natural" lack of value in fiat dollars causing inflation in particular markets and thereby causing currency devaluation in those markets, it's F.I.R.E. economics. It's Wall Street instrument inflation. This is evident in the housing bubble fallout, and now in the medical and pharmaceutical industries, which are also majorly fueled by speculation. The housing bubble crash really would have been a disaster like 1929 if the US Dollar were gold standard. But foreigners who want to destroy our REAL ECONOMY have put out this propaganda about the Fed fiat dollar not being real, and have further perpetuated the absolute myth that US sovereign debt will cause insolvency, when it in fact only balances private surplus against public deficit (money creation).
The benefits of fiat SOVEREIGN currency are numerous, but here are just a few.
1. Fiat allows for economic expansions like industrial innovation, international trade, rising birth rates (new people will need money to spend and household expenses go up for new parents). Gold standard money cannot expand any faster than the gold market. This is why Congress took us off the gold standard every time we went to war and needed to fuel the war industry economy. This fueling of economy for war could be done for other industries in times of peace. It's just government spending BELOW CAPACITY, which means money creation with no risk of inflation.
2. Fiat insures budget solvency during money creation (deficit spending). The gold standard and lack of QE is why the INSTRUMENT INFLATION ON WALL STREET in the late 20's led to the Great Depression. The gold standard prevented the government from moving resources through public spending and PUTTING AMERICANS BACK TO WORK. Gold standard makes government debt REAL, thereby crippling Congress and our economy. The transfer of wealth today, takes place in the stock market, by inflating the price of goods via the attached instruments (like the housing bubble). This is no different than how the transfer of wealth took place in the 20's. To blame this WALL STREET INSTRUMENT INFLATION on the fact that the dollar is fiat is sheer lunacy, with no basis in fact and NO LOGIC. If the US Dollar were affixed to gold, WALL ST inflationary practices would have DIRE CONSEQUENCES, as in the GREAT DEPRESSION.
3. Fiat insures Treasury Bond solvency. Affixing the dollar to gold would hold the US Government responsible to FOREIGN INVESTORS FOR GOLD IN THE BOND MARKET. The bond market's purpose is to encourage investment, both foreign and domestic, in our NATION"S INFRASTRUCTURE. The debt is currently nominal, with no risk of insolvency, because the money is fiat and sovereign.
4. As long as our money is sovereign "fiat," foreign gold markets cannot "jerk" our currency around, or FORCE Congress to create more money, or raise taxes. If foreign markets caused the gold prices to go up, and our Dollar was gold standard, the Treasury through the Fed would have to create money and deposit it in the account at the Fed just to cover the new "price" of gold. If the gold went down in foreign markets, the Fed would have to respond with high interest rates on bond offerings.
Sounds like FIAT MONEY TO ME, which simply means by decree. But a gold standard "decree" would put our Congress and our central bank at the mercy of the global gold market. That would be really STUPID.
Gold or no, Congress has the power to fix the economy through spending and taxing back in some of the currency. If Ron Paul would read an MMT book, he might learn something.
The very reason for gold's "high" value is the same as the reason for the housing securities' "high value," that is, SPECULATION. So the "real" value of gold is not actually any more "real" than the value of any metal, or commodity or resource. If the fiat money is used to purchase goods and services, thereby moving real resources, including gold, and employing citizens to do work, it is AFFIXED TO THOSE RESOURCES THROUGH SPENDING and is thereby REAL MONEY.
th-cam.com/video/WS9nP-BKa3M/w-d-xo.html
www.fame.org/six-reasons-why-promoting-the-gold-standard-is-a-mistake
Gold is the money of kings. Silver is the money of the People. Paper money/debt is the money of slaves.
Yeah sure, go ahead and send gold by airplane to California to import goods and services, I'm sure it's much more efficient than dollars which can be sent electronically through the internet in a matter of seconds with confirmation. Dollars are more technologically advanced than gold and silver and are better controlled in this age and environment. Gold and silver are the pre-industrial currencies. I'm not against holding gold and silver, in fact it's a good idea, I'm just pointing out that they do have severe limitations in the internet age.
@@rs72098 BitCoin Crypto also can do receipts for the Gold Silver.. Make the Money be valued with something
Ron Paul is the greatest. Ron Paul 2020!
Ron Paul, like Peter Schiff, is a huckster who wants your REAL DOLLARS invested in HIS SHARES IN THE GOLD FUTURES MARKET. He knows that if the dollar is affixed to gold, it would encourage investment in gold, and cause a nice inflationary bubble for him to milk. Or maybe he's just stupid and innocent. He just said he wants people to put money in a mattress. That sounds pretty crappy for currency movement (aka an economy).
So either Ron Paul doesn't understand a thing or three about the fiat dollar, or he does and he wants to sell you gold. I have a suspicion that he's just an idiot, since he loves the economic theory of a NOVELIST whose writing wasn't even very intelligent, so much that he named his son after her. Her fiction named characters as heros who had built their businesses in GOVERNMENT SUBSIDIZED MARKETS.
The benefits of fiat SOVEREIGN currency are numerous, but here are just a few.
1. Fiat allows for economic expansions like industrial innovation, international trade, rising birth rates (new people will need money to spend and household expenses go up for new parents). Gold standard money cannot expand any faster than the gold market. This is why Congress took us off the gold standard every time we went to war and needed to fuel the war industry economy. This fueling of economy for war could be done for other industries in times of peace. It's just government spending BELOW CAPACITY, which means no risk of inflation.
2. Fiat insures budget solvency during money creation (deficit spending). The gold standard and lack of QE is why the INSTRUMENT INFLATION ON WALL STREET in the late 20's led to the Great Depression. The gold standard prevented the government from moving resources through public spending and PUTTING AMERICANS BACK TO WORK. Gold standard makes government debt REAL, thereby crippling Congress and our economy. The transfer of wealth today, takes place in the stock market, by inflating the price of goods via the attached instruments (like the housing bubble). This is no different than how the transfer of wealth took place in the 20's. To blame this WALL STREET INSTRUMENT INFLATION on the fact that the dollar is fiat is sheer lunacy, with no basis in fact and NO LOGIC. If the US Dollar were affixed to gold, WALL ST inflationary practices would have DIRE CONSEQUENCES, as in the GREAT DEPRESSION.
3. Fiat insures Treasury Bond solvency. Affixing the dollar to gold would hold the US Government responsible to FOREIGN INVESTORS FOR GOLD IN THE BOND MARKET. The bond market's purpose is to encourage investment, both foreign and domestic, in our NATION"S INFRASTRUCTURE. The debt is currently nominal, with no risk of insolvency, because the money is fiat and sovereign.
4. As long as our money is sovereign "fiat," foreign gold markets cannot "jerk" our currency around, or FORCE Congress to create more money, or raise taxes. If foreign markets caused the gold prices to go up, and our Dollar was gold standard, the Treasury through the Fed would have to create money and deposit it in the account at the Fed just to cover the new "price" of gold. If the gold went down in foreign markets, the Fed would have to respond with high interest rates on bond offerings.
Sounds like FIAT MONEY TO ME, which simply means by decree. But a gold standard "decree" would put our Congress and our central bank at the mercy of the global gold market. That would be really STUPID.
Gold or no, Congress has the power to fix the economy through spending and taxing back in some of the currency. If Ron Paul would read an MMT book, he might learn something.
The very reason for gold's "high" value is the same as the reason for the housing securities' "high value," that is, SPECULATION. So the "real" value of gold is not actually any more "real" than the value of any metal, or commodity or resource. If the fiat money is used to purchase goods and services, thereby moving real resources, including gold, and employing citizens to do work, it is AFFIXED TO THOSE RESOURCES THROUGH SPENDING and is thereby REAL MONEY.
th-cam.com/video/5baKgv7Zl5g/w-d-xo.html
Roofchatter holy shit dude. Why do you hate Ron Paul so much? You really think he does this for a couple extra dollars in his pocket? You are siding with international bankers over an old man who served and most likely has the best interest for the country in mind. You must be a troll or something.. or just seriously ill
This is why these evil animals tried to stop Bitcoin.
And look at where we r now.
Thank you ABC for posting this, even though Ron Paul didn't get treated fairly from mainstream media or he would have been president. Please continue posting relevant content like this, hard-hitting journalism that favors the people's well-being, as opposed to catering to the highest bidder or just following orders.
I'm shocked that this is on the ABC News TH-cam channel .....what is going on here ?
7 years old
Yes but still the fact that they keep it up is odd, considering how the mainstream views Paul
@@Psqwall You would be supprised how many of the MSM TH-cam pages have no clear out older stuff.
Wow, this was so bad ass
and Bernanke got Nobel price :D
And hear we are today...
Paul: you don’t get it. This shalom Bernanke is not an American, his a Jewish. Don’t you get it? They are loyal to their religion, not to any countries flag.
Arrest the Fed.
Hee needs your teeth FOR THE FEDERAL RESERVE!
If the Fed Chair controls inflation (by printing money or cash restriction) and the President and Congress create taxes or lower the taxes, then it’s clear every year who to vote for.
It’s economic not political personalities.
this is the Argument Im triiing this preplanned filth state with believe
This man should have been the president.
How did Bernanke keep a straight face through this? Lmao props to him.
Yeah he had to try to educate a complete moron.
Because he couldn't understand what Dr. Paul was saying
Probably secondary psychopathy
@@matrixman8582 He ain't a doctor lmao
@@matrixman8582 Just Mr. Paul
This was a cue BitCoin moment...
You misspelled Tulips
What happened to Ron Paul?
Brandon from Kentucky his legacy is in the hands of his son senator rand Paul.
Running a web page ,,, duh .
He became even more irrelevant
He left the circus.
Get better Dr. Paul
Public debt? It's all corruption between politicians and Bankers. Here's the point: If only the State can print money, how is it the State is indebted in the "product" that only the State can produce? Who are those "private people" who are claiming that debt to the State: do they print money?!
Haha money printer goes brrr
Repeat 2020.
Miss him in Congress
Knew how to call it out
That’s my guy
Are you saying the money makes more interest under the mattress than in the bank?? Yes 👏
thats if your country remains in a good economy for that long!
then sure the value of a particular currency may go up
but it can also go down!
therefore silver is preferred because it is stable!
It's not a "natural" lack of value in fiat dollars causing inflation in particular markets and thereby causing currency devaluation in those markets, it's F.I.R.E. economics. It's Wall Street instrument inflation. This is evident in the housing bubble fallout, and now in the medical and pharmaceutical industries, which are also majorly fueled by speculation. The housing bubble crash really would have been a disaster like 1929 if the US Dollar were gold standard. But foreigners who want to destroy our REAL ECONOMY have put out this propaganda about the Fed fiat dollar not being real, and have further perpetuated the absolute myth that US sovereign debt will cause insolvency, when it in fact only balances private surplus against public deficit (money creation).
The benefits of fiat SOVEREIGN currency are numerous, but here are just a few.
1. Fiat allows for economic expansions like industrial innovation, international trade, rising birth rates (new people will need money to spend and household expenses go up for new parents). Gold standard money cannot expand any faster than the gold market. This is why Congress took us off the gold standard every time we went to war and needed to fuel the war industry economy. This fueling of economy for war could be done for other industries in times of peace. It's just government spending BELOW CAPACITY, which means money creation with no risk of inflation.
2. Fiat insures budget solvency during money creation (deficit spending). The gold standard and lack of QE is why the INSTRUMENT INFLATION ON WALL STREET in the late 20's led to the Great Depression. The gold standard prevented the government from moving resources through public spending and PUTTING AMERICANS BACK TO WORK. Gold standard makes government debt REAL, thereby crippling Congress and our economy. The transfer of wealth today, takes place in the stock market, by inflating the price of goods via the attached instruments (like the housing bubble). This is no different than how the transfer of wealth took place in the 20's. To blame this WALL STREET INSTRUMENT INFLATION on the fact that the dollar is fiat is sheer lunacy, with no basis in fact and NO LOGIC. If the US Dollar were affixed to gold, WALL ST inflationary practices would have DIRE CONSEQUENCES, as in the GREAT DEPRESSION.
3. Fiat insures Treasury Bond solvency. Affixing the dollar to gold would hold the US Government responsible to FOREIGN INVESTORS FOR GOLD IN THE BOND MARKET. The bond market's purpose is to encourage investment, both foreign and domestic, in our NATION"S INFRASTRUCTURE. The debt is currently nominal, with no risk of insolvency, because the money is fiat and sovereign.
4. As long as our money is sovereign "fiat," foreign gold markets cannot "jerk" our currency around, or FORCE Congress to create more money, or raise taxes. If foreign markets caused the gold prices to go up, and our Dollar was gold standard, the Treasury through the Fed would have to create money and deposit it in the account at the Fed just to cover the new "price" of gold. If the gold went down in foreign markets, the Fed would have to respond with high interest rates on bond offerings.
Sounds like FIAT MONEY TO ME, which simply means by decree. But a gold standard "decree" would put our Congress and our central bank at the mercy of the global gold market. That would be really STUPID.
Gold or no, Congress has the power to fix the economy through spending and taxing back in some of the currency. If Ron Paul would read an MMT book, he might learn something.
The very reason for gold's "high" value is the same as the reason for the housing securities' "high value," that is, SPECULATION. So the "real" value of gold is not actually any more "real" than the value of any metal, or commodity or resource. If the fiat money is used to purchase goods and services, thereby moving real resources, including gold, and employing citizens to do work, it is AFFIXED TO THOSE RESOURCES THROUGH SPENDING and is thereby REAL MONEY.
th-cam.com/video/WS9nP-BKa3M/w-d-xo.html
www.fame.org/why-promoting-the-gold-standard-is-a-mistake
www.fame.org/six-reasons-why-promoting-the-gold-standard-is-mistake
Use this link instead
Bitcoin is currently $43400
Ron Paul!
The man kept going on a rant without asking a question.
Since everything is definitely going down the drain, why isn't anyone in government discussing freezing both rents and wages among other things , to protect the millions of Americans like they were hired to do?
Ron Paul = Living Legend
I am now totally convinced that paper and stock investments are less than worthless. I am going to spend the rest of my life investing in precious metals only. I may save in cash temporarily but only to then periodically get bulk coins, plates, et cetera. The only investment that NEVER goes belly up is precious metal. Been that way since literally the beginning of civilization.
Stocks have outperformed gold consistently for the past 30 years.
That's fine, you'll miss out on enormous returns like Amazon, Apple, Facebook, and Tesla. The entire world doesn't just consist of gold and silver, it consists of many products, goods and services. The problem with gold bugs is they have tunnel vision and believe that world revolves around only gold and silver.
@@rs72098 If you are so convinced then go get rich and don't worry about me.
If you don't follow Ron Paul's podcast, you should.
When Ron Paul said we could vote on it, it could have been done. Now in 2020 we have lost the right to vote in honest elections and the will of the people can't even be discussed due to the loss of free speech. Soon nobody will even be able to debate what to do, to regain the ability to vote and have future honest elections or voting power. It's amazing how fast America died and how many people have no idea that the Government is no longer in the hands or control f the people.
Well Said 🎯
What if I told you...
WWIII was fought & won...
Without 1 single round fired?
So many Americans are unaware that WW3 was started & they've already lost...
@@WhoIsDanteFresh I would say you are preaching to the choir and I fully agree with you.
@@WhoIsDanteFresh The world ended in 2012 when the Federal Reserve refused to be audited and said they would shut down the cornerstones of the entire world if they insisted the audit. Since then all nations have bent to the will of those who control all of our infrastructure in attempt to save the people from the pain and death that will come if they shut it all down. The game is over and our Governments are acting on fear and not logic and will lead us to slaughter as to *caugh *caugh...protect us. The road to ruin is paved by good intentions. Welcome to the end of the road.
Nice to see all the statists championing the fed and its lackeys on this thread.
I hope when the rich finally fall they fall as they deserve to be
@CAl Gond the banks make money artifically inflating assets and as such devalue actual work.
If the money they generated was actually used to build more homes rather than give people more money to sustain the housing bubble they'd not be metaphorical parasitic leeches on the economic system they created where they get paid to ensure that wealth creates more wealth.
they will in the incoming global financial crisis
President Paul I like a lot
perhaps if this guy was a better speaker america would have chosen him
The money won’t be gone they will just make more
Brandon from Kentucky that’s the point they just keep printing
and it will continue being worth less and less and less and less.
The purchasing power will be gone
Dr Paul is succinct, reasoned, and correct.
Nope. He’s pretty dumb, lecturing a Fed chair.
What's with the title?
HAHA
What does he mean by "competing currencies"?
Watch money vs currency
ex: $ notes vs silver or golden coins...and people being autorized by law to use whatever currency they want in their transactions
The US dollar is not money. It is one currency. Paul wanted to have gold and silver dollars too. Which would be convertible into physical bullion.
Euros, yen, rubles, yuan...
And today it's even more true, Ron Paul did not miss...... I am going back listening to his videos and everything he said that was going to happen came or it is happening now.
The federal reserve isn't Federal it is privately owned
But if we use real money, how will the fed run the global economy through the world’s reserve currency?
END the FED !!!!
It's all a show people. They allow Ron Paul to do this because it makes us feel like we have a voice in congress. This keeps people from revolting. Rather Paul is for real or he's just taking the Candy, I don't know. But now that he's gone his Rand Paul is trying to take it.
I don't fall for it, I like Paul, but I think all he will do is address issues and nothing will get done. He wants to abolish the fed? He can't do that if he won president.
Thanks Glenn Beck for destroying Ron Paul's presidential campaign.
The best President the US never had.
THE GREAT RON PAUL 🗽
Umm there is not enough physical gold or silver to back every US Dollar since the 1960s...
True it really just about pegging it to the value of gold. Like if gold value increases so does the dolor and vis a versa. We could also deflate and then go back on the standard. Good question though
www.fame.org/six-reasons-why-promoting-the-gold-standard-is-a-mistake
@@henrybowman6929 regardless there is not enough physical rare metals to back up the dollar.
Alot of scams about buying gold also.
mitzvah golem ,
Scarcity is a requisite for value.
Once off the silly dollar system, products may be priced in troy ounces and grams of gold or silver. It's the "dollar" that is the problem. It leads to legalized fraud and theft.
"Of all the contrivances for cheating the laboring classes of mankind, none has been more effective than that which deludes them with paper money. " - DWebster
What he's really making a case for is buying precious metals and real estate...
And get slayed by real estate taxes.
I dont really know the difference. I just know Ron Paul explains his side very well.
Smart man