This page has been archived and commenting is disabled.
Ron Paul Comments On QE2, Says Fed Will Self Destruct, Shocked That Krugman Has "Any Credibility Whatsoever"
There were few surprises in today's commentary by Ron Paul on QE2: the only man in Congress (with Grayson now gone) who is sufficiently intelligent to realize that the primary culprit behind the US economy's boom-bust cycle is the Federal Reserve, continues to press for the termination of Ben Bernanke's public "service" which has resulted in a collapse in American purchasing power in the 100 years since the first Jekyll Island meeting. Yet Paul takes a 'John Lennon' approach to the problem, believing that active intervention may not even be needed, as the Fed ends up cannibalizing itself: "I think the Fed will self-destruct. People will desert the dollar. I think the Chinese are hinting that already. They are not wanting our dollars as much as raw materials. This is a deeply flawed monetary system. Here we have a small group of people who can create $600 billion with the stroke of a pen... I don't know where people are coming from to think that this can work. What really astounds me me is how tolerant the people are, the people in Congress and the financial market, where did this authority come from? Now somebody outside of the government can spend trillions of dollars and not think anything about it. It doesn't work, it's a failure. And next year it will be more. Bernanke is very clear on what he is going to do - he is going to create money until he gets economic growth and there is no evidence to show that just creating money causes economic growth." All logical and expected. Which is why nobody will endorse the Paul stance, it as it means an end to the trillion dollar wealth transfer system from the middle class to the kleptocracy.
Yet the funniest thing is Ron Paul's commentary on that irrelevant, and now completely discredited Fed puppet, Paul Krugman,
Krugman is the exactly the opposite of a free market economist. I would think by now he would have been totally discredited and it's tragic - i pray every night that his views will just disappear because what he wants to do is more of the bad stuff...He is leading the intellectual charge for the total destruction of the dollar. I don't see how he has any credibility whatsoever.
Nobody but the NYT has an answer to that question.
»
- 17404 reads
- Printer-friendly version
- Send to friend
- advertisements -
Brilliant vid. Only 302 views....this needs viralizin' bitchez :-))
I love that man :). Pure platonic of course :P
Love is definitely the word.
He makes the point that both liberals and conservatives argue deficits don't matter. This is what I respect the most about the man - he sees through the partisan bullshit.
"We need to cut the welfare state and the warfare state." - I suspect by the time they realize how true this is, it will be too late.
Ron Paul should have also mentioned how the FRA is most likely unconstitutional.
http://peakcomplexity.blogspot.com/2010/11/plutocracy-now.html
Ron Paul is the only true republican in DC.
So, the rest of them are . . . . ??????
Not that I disagree with you.
So, the rest of them are . . . . ??????
THIEVES
There i fixed it for you! :)
Ron Paul needs to be careful ... or maybe not, depending on who he really works for (they like to play both sides and see what turns up). Executive Order 11110 is what really got Kennedy shot (IMO, they inspired and gave cover to the CIA when the CIA was pissed at Kennedy over the Bay of Pigs disaster ... and the CIA covered their tracks through two hapless dupes.). Odd that no more silver certificates were printed after Kennedy was assassinated.
To my knowledge 11110 has never been repealed and the Treasury could print its own money if it had the guts and was not a captive of the Fed.
QE did not work in Japan and its not going to be any mechanism to help American Citizens.
Having worked with the Fed - a lowly information security officer for a member bank, they (from the security guard and secretary to BB itself) think they are better than everyone else. And of course they are a representation of their shareholders - the banks.
We have seen the banks play around with every destructive financial force and never get hurt. What is going on is merely a consolidation of the domestic US banking industry and a deep plunge to buy up depressed assets with newly printed money.
Years from now this will materialize in your hometown, but in the meantime its free money to invest anywhere except America. The Obama trip to India - 'mo money Ganesha.'
the Fed does not "spend money". The Fed is exchanging one form of government liability (FR notes) for another (UST). The Congress "spends money". While I find Ron Paul to be useful, I am afraid at times he can appear a useful idiot. Given his "platform", he should understand the difference between fiscal and monetary policy.
Monetization of debt is the current monetary policy.
You guys know what I think of Paul Krugman
http://www.krugmaniswrong.com
Common sense. We need more of it rather than the so called genius economists that twist any theory to support the ponzi.
I'm starting to think that it may be insulting to Ponzi to associate his name with the Fed.
Read all the comments. Gawd I love you guys.
Ron Paul is one of our last remaining heroes. Dude has a brain, integrity, and guts. remember Schiff on the POS CNBC telling of the future collapse in 2006? Ridiculed him to death.
So refreshing to read the comments- there may be hope after all. ZH is refuge.
All of us here who are aware of what's going on, why can't a move be started, some organization that can work to get these thieves out of power and put people in who are not performing fallatio on Lloyd, Jamie and Bernanke. Or is it too late, and we need to have the system implode before we can get somewhere?
Ironically, implosion of "the system" is the required movement.
"freedom is a pretty good idea."... ron paul
Companies will attract and expand on a certain level of incompetence. Once a company forms a culture of incompetence, only the incompetent staff will remain, and the competent ones will tire of trying to soar with eagles while surrounded by turkeys, and therefore leave.
This applies to any structure based on ideological "lines in the sand" Company's are cleaning house on productivity issues only adopting programs that mirror the mindset the cultural dynamic. You cannot fix them, since it is other people money. Now the complication the West needs to admit is what do we believe to be true or the validity of any premise based on thin air we call fiat they convey as trust? I trust history that conveys minerals are a safety valve to social stupidity which is continued unabated fact of the educated.
CNBS provides the worst feeds possible. It is all a game to see how many pauses and loads they can do of the data so you are forced to see the peacock 100 times per minute. Not quite subliminal, more like they are trying to burn that logo image into your retinas. Makes me ill personally. Notice how the adds always play seamlessly but when you get to content it is a nightmare?
Krugman an idiot! +1
Ron Paul for president.