Ron Paul warns of looming currency crisis

I always knew that this crisis would happen for America sooner or later but former congressman Mr. Paul believes it's going to happen much sooner than people think:

https://orders.cloudsna.com/chain?cid=MKT033949&eid=MKT038327&snaid=&step=start##AST03347

Of course, I'm sure all the sheep will scoff at this because they think the government has it all under control and would never let something like that happen. LOL. After all, they are also naive enough to believe that our economy is soaring so everything must be just hunky dory! 🙄

I'd be much more worried if a warning came from, you know, an economist, and not someone who though getting rid of the central bank was a good idea (you know, the institution that actually has reduced the number of economist busts).

Ron Paul has a very simplistic view of economics and thinks that getting rid of a central bank would help get rid of inflation- but also missing the vital bit that the ideal is actually a small regular amount of inflation, because deflation always causes economic busts (simple reason, when it's more profitable to hold money than invest, people don't invest), and back when the currency did have as much deflation as inflation (i.e. when it was commodity based), we had far more regular economist busts as a matter of course, and that's why not a single country on Earth uses community-based currency any more.

"Some non-economist politician predicts doom in a way that panders to his followers," is not a convincing economic argument.

I'm sure all the sheep will scoff

You're following the word of a guy on economics when you're uninformed on the economics involved. You're the sheep 🙂

So, wake up, sheep! Don't scoff at real economics, educate yourself. Read the works of people like Paul Krugman, an economist who does have a history of being right on economic matters and is pretty good at explaining it in understandable terms.

There are some good youtube videos with krugman and paul as they go head to head, nothing ground breaking but gives some perspective.

Robert Reich has some good youtube videos as well..

That said whenever you watch the person explaining they still want their point of view to be correct and pitch it that way, krugman and reich lean the way of socialism and keynesian policy.

I doubt we will ever get away from the Fed but they have done more to bolster this economy then any presidential policy put forth to date🙂

Originally posted by Star428
I always knew that this crisis would happen for America sooner or later but former congressman Mr. Paul believes it's going to happen much sooner than people think:

https://orders.cloudsna.com/chain?cid=MKT033949&eid=MKT038327&snaid=&step=start##AST03347

Of course, I'm sure all the sheep will scoff at this because they think the government has it all under control and would never let something like that happen. LOL. After all, they are also naive enough to believe that our economy is soaring so everything must be just hunky dory! 🙄

Indeed. it just a matter of time before it happens.the american people are too blind thinking the government is out to take care of us and serve us,not getting it that both parties are corrupt and its actually a one party system designed to look like two so they think they have a choice in who gets elected not having a clue that the fed is an illegal organization.great thread.

Originally posted by snowdragon

I doubt we will ever get away from the Fed but they have done more to bolster this economy then any presidential policy put forth to date🙂

This is true!

Originally posted by Mr Parker
Indeed. it just a matter of time before it happens.the american people are too blind thinking the government is out to take care of us and serve us,

You know, I find this very short-sighted thinking. The government does, in part, what we set it up to do, and there are many tasks that can be done more efficiently, or sometimes *only*, with a big organization to do large tasks... ones that don't result in direct profit but result in the profit of many, like transportation, medicine, and even research.

The government is- or can be- the people's tools to do large tasks and tasks best suited to large scale.

People are too blind in thinking the government is automatically bad, rather than viewing it as a tool that can be used in multiple ways, some bad but many good. If we strip it of the direction and means to help us, of course it will be bad, but if we set it to useful tasks, it will not be.

For me, it's not that it can't happen. It's that no single person has access to the kind of information that would be necessary to make this kind of assessment of not just a currency, but the global economy as a whole.

I also don't think government has much to do with it. The global economy is its own beast, and the shuffling of legislation in Washington has only a moderate affect on it at even the best of times, and far less than that most others.

So I don't put my trust in gov't so much as I mistrust anyone telling me what's going to happen with any degree of certainty.

In related developments, Ron Paul also predicts his son Rand will win the election and cause the currency crisis by following archaic economic principles.

Printing money ontop massive debt. Hmm I wonder what's going to happen. Any person with half a brain can figure this out.

Originally posted by Time Immemorial
Printing money ontop massive debt. Hmm I wonder what's going to happen. Any person with half a brain can figure this out.

Originally posted by red g jacks
sounds like the perfect job for you, then.

"No you" at Walmart.