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Ron Paul: "It's Going to Get Much, Much Worse"
Submitted by Adam Taggart of Peak Prosperity blog,
Dr. Ron Paul has long been a leading voice for limited constitutional government, low taxes, free markets, sound money, civil liberty, and non-interventionist foreign policies.
His last term in the U.S. House of Representatives ended earlier this year, so we caught up with the former Congressman to get his latest perspective on how successfully our national leadership is dealing with America’s economic challenges.
In Dr. Paul’s assessment, Washington is too committed to deficit spending and the debt-based economy – both operationally and philosophically – to expect it to embrace a more fiscally-responsible model without a forcing crisis (which he believes is coming):
[T]hey believe it like a religion that spending is good no matter what the spending is on. And that the deficits don't matter; deficits are not a burden. And even though we have this national debt and we have a foreign debt, they don't consider that so bad, as long as people will spend money. And if the people won't spend any money, the government has this moral obligation to do it.
I don't expect anything else because they are reflecting what I consider “prevailing attitudes.” And the prevailing attitudes for the last 50 or 60 years, especially since the 1930s, has been spending and deficits and printing money is the way to go.
But where I am encouraged is outside of Washington. You get a better perspective from people like you who talk about this and get people to look at their investments. I think this is beneficial, because a lot of people are realizing this whole system is deeply flawed, and they are looking elsewhere. And that is why I talk a lot about free markets, and property rights, and Austrian economics, and getting rid of the Fed. All these things are now up for grabs. A lot of people, especially the young people, are looking at this. So, for this reason, I am a bit encouraged by what might come out of this.
But I think we are going to go through the ringer. I think it's going to get much, much worse. It is bad enough already, but there is no way that we can step back.
The one thing I am convinced of, after having spent so much time in Washington, is that this will not be a gradual recovery from this disaster that we have. We are not going to elect enough people and have enough courage to vote the right way; there is too much demagoguing and too much misunderstanding. The people would revolt, but the collapse will come. It is going to hit the dollar, and then we are going to have our opportunity.
So, the more people who are protected intellectually as well as financially, the better off we will be in rebuilding what we will need to do in the near future.
Dr Paul continues to be vocal about the destructive role the Federal Reserve’s loose and interventionist monetary policies are having in enabling the mal-investment in the system:
What if the Fed could not buy government debt? What a different world it would be. Everybody said this would be a disastrous to the economy but what if people accommodated with this?
What if there was a dependency on saving? What if we did have a market rate of interest? And what if that resulted in less bubbles? All of a sudden the world would be a different place.
But no...The only thing they can even do is spend more and more money. That is the only tool they have.
So, for that reason, I am not shocked at the numbers. I guess I am more surprised that the whole thing holds together so long. Because when you look at this, and you look at the foreign debt, and the national debt it is so outrageous, and there is still confidence in the dollar, the world – they do not have a good currency, so the best they can come up with is the dollar, but even the dollar is less popular than it used to be. It is being held a lot less now as reserve currency, but we can still buy oil, and we can still buy our stuff from China, and they take our currency.
But what amazes me is that it holds together. So I think monetizing debt and spending and deficit is going to get much, much worse until the world rejects the dollar. And there will be a rejection here at home, and prices will soar, and eventually interest rates will break loose and they will start rising.
He continues to view precious metals as prudent to hold in advance of this currency crisis. But in the long run, he sees civil agitation for smaller government as our best strategy:
I don't think the euro is going to replace the dollar. And that certainly looks like it is the case. You are not going to go to yen, and you are not going to go to special drawing rights…
No, when people become frightened, they look for things of real value, and I don't think they can repeal the laws of economics that says that for 6,000 years metals have been beneficial. They will go to monetary metals, gold and silver, and they will buy other things, such as buying property. But no matter what we have, whether we have our gold coins or we have our property, if we have an authoritarian government, that is our greatest threat.
So, I would like to think that there is no perfect protection, other than shrinking the size and scope and power of government, so that we can be left alone and take care of ourselves.
Click the play button below to listen to Chris' interview with Dr. Ron Paul (19m:37s):
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Don't worry if you got the thumbs down from other commenters. They're all grumpy because TylerDurden told them they'd have the best orgasm ever if they rubbed a gold-bar on their cocks and it's not working. Worse than a pack of hens on the monthly bleeding.
How much does trolling pay? I've always been curious. It must be a side gig for you because you're way too bad at it to earn a decent paycheck.
Oh, and your mom says it's time for bed.
!!
"and put down the bong"
http://lassiegethelp.blogspot.com/2008/05/chickens-dont-menstruate.html
Hens don't menstruate. You've learned something today...at least you've got that.
Looks like "AnActualMoron" got a new ID on ZH. Now he's double trouble on here...
It's the same old bullshit that has been going on for centuries, the only new twist is that we're at the carrying capacity of the planet. Historically speaking, the key to a successful revolution is for the middle class to get the lower class to fight the upper class. The elite know this, as their schools don't get dumbed down. Thus, their buying the complacency of the lower class, with SNAP and the like, while steadily eroding the power of the middle class through "free trade" farces, excessive taxation, stagnant wages, and economic wealth transferring bubbles.
He's right and right about now the shit is indeed hitting the fan. We have a choice as Americans to rise up en masse to shout "No more"! Or we can just keep watching the teevee.
As gold is about to make a new yearly low priced in USD.
BTFD
Maybe gold will go up like when the SHTF in Japan. Oh..... wait.... nevermind, thats actually not happening.
I can write like this so that no one will understand what I'm writing or I can write like thissss.jkj faolkpoujghpiueb akjkjduy02ioj[oia8 sifj;oaiuf and no one will understand what I'm writing.
faolkpoujghpiueb...
Man, if you had just switched 2 letters around you would've caused an international incident...careful with that jibberish.
What are you willing to die for? Think about it. Why did your grandfathers go to war? (Don't give me that b***shit about they were stupid or a global conspiracy either.)
What are you willing to die for?
God, Family, Friends (in that order) and perhaps country, though the last in the list is increasingly becoming hazy.
The times, culture and society are *very* different. Those values upon which this nation was built are rapidly slipping away.
Accurate American history is no longer taught. Most kids come out of K-12 ashamed of the history of the country, however imperfect it may have been. Most have no clue the struggle undertaken over generations to make the U.S. a great nation.
An increasingly large percentage of the country would rather have that which is needed for survival given to them instead of earning it. They continually elect politicians who meet those desires.
Those who do apply themselves, make smart choices in their fields of study, work hard and become wealthy are demonized and taxed to such an extent that they seek places outside of the U.S. to protect and preserve that wealth. When they follow the established rules in the gamed system, they are further demonized for not coughing up more AND for wanting to protect what they have poured many many years into building.
The concept of intact families is now a joke, passed over by society for no marriage, gay marriage, easy divorce and abortion.
I could go on but it just saddens me.
An increasingly large percentage of the country would rather have that which is needed for survival given to them instead of earning it.
___________________
Man, it nearly looks as if this extract reads of 'americans'.
'Americans' prefering to be given by their government what they need to survive rather than earn it.
Looks like the history of the US.
Even 'american' icon John Wayne, agreed:
“I don’t feel we did wrong in taking this great country away from them. Our so-called stealing of this country from them was just a matter of survival. There were great numbers of people who needed new land, and the Indians were selfishly trying to keep it for themselves.”
Green with envy, aren't you?
John Wayne wouldn't be one of those pantywaist "Free Tibet" fuckers either.
Johnny got Chinese citizenism.
Where would my mind be if I wasn't able to digest pure thinking like this every once in a while? It gets really difficult to read the news some days when it is packed full of Orwellian doublespeak. Thank God there are still some clear minds out there to put fourth nutritious thoughts that we can chew on
What an outcry by 'american' Dr.Ron Paul. Two fingers close to tell it as he fells it: the State, while it served so much 'americans' in their stealing spree, might now be used to steal from the 'american' middle class. Better to destroy that tool before it happens.
Paul cant face the fact the 'american' world is a global world.
Gold, silver had no benefitial story to tell. The world was not global until 'americanism' kicked in and strive to achieve globality.
Several societies ran in parallel and when one collapsed, one could turn to others.
'Americans' are going to buy property? Oh my, my, my, does it mean that the environment matters? What about the productive economy?
Worse of all, when 'americans' start to turn to buy property, they will see that most of it is already owned by 'americans'. The good old days when Indians, mesmerized by the 'american' project, would relinquish their property to support the project, is gone.
Today, the world is already owned by 'americans'. The only space left is to define new areas of property to be owned so that 'americans' can monetize them.
Welcome to an 'american' world, it is a cosy place to live in, you'll see. And you've got 'americans' like Dr.Paul and his paultard followers.
What a prophet, what a prophecy.
'Americans' have put the world on the path of depletion of resources. Overwhelmed by their hubris, they felt the urge of painting their incredible theft streak as the success of mankind overwhelming the environment.
The question is not whether the situation will get worse or not, but how, in this 'american' world, the situation could not get worse.
Servants to the 'american' middle class are currently busy with managing the descent to a world depleted in resources. Their performances must be assessed accordingly.
For example, Abenomics should not be assessed by pushing the expectation of a recovery, but whether it helps Japan to fare better during the unavoidable descent to a depleted of resources world.
Doesn't take much of a prophet to prophesy the unavoidable descent to a resource depleted world. And there is a big difference between the few thousand psychopaths who have put the world on the path of resource depletion and those who you call 'americans', who never had any say in that matter. But assuming for a moment that you could be right - what would you propose we do about it? Until now you just whined about what you see, but did nothing to show a way to the better. So don't tell us, what you will do, when we all have died and you are finally grown up - show something worthwile. Now!
Dr. Paul has played a vital role in exposing the problems with our central government and he has educated many Americans about how and why America was headed for tyranny. But Dr. Paul's time has come and gone. He has served us well. Now, we need names. We need leaders who have the courage to name the names of the criminals who are destroying our country. We don't need Alex Jones to tell us about the “globalist boogie men”; we need the names and the faces of these traitors so that Americans will know the truth and wake up. And the only person courageous enough to reveal who the crooks are is Brother Nathanael.
http://www.realjewnews.com/?p=825
Ron PAul, the man who just doesn't get what the Reagan revolution was all about.
Too late now; its all in and its global. This train will only get derailed when its thrown off its tracks.
By human effort, 'cos God seems not to care too much about what humans do, having been universally misused for centuries as "god who wills war"!
In 2008 McCain born in Panama was question on his ability to be president. Obama, McCaskel put a bill in the senate to clear this up.. Paul suporters took over congress on audit FED the Rowe and Democrats (neo-con violence proveaors) spun this into some sort of propaganda isue. DNC/RNC Abortion gay rights totally irevelant... 2008 WAS BIG WIN FOR THE DNC/RNC.. The problem is congress had 384 audit the FED sponsors. Criminal Senate did not bring it to the floor. Now Zero Hedge readers have to listen to Mike Rogers (10b security contract) who won by 111 votes... on the four main First Admendment press ignorance corp. Meet the press after Boston ran 2 comercials for drones contractors... So here we have it Constitution project wants Clinton, Bush and Obama procusiuted for war crimes... Ron Paul and Dennis kucinich are wackos. TARP levers mistakes, a guy who's came up through American Expess (remember monthy corporate expense account tool) and credit card processor now oversees 70 T in taxpayer backed derratives. AND NET EFFECT MAINSTREAM (LAME STREAM) DO NOT CARE ABOUT FREE MARKETS.. Quite the contrary they have stolen the most valuable asset of a FIAT trust.. It seems to me that just a repeat of Treaty of Versaills unfortuantly our economy is is the Weimar target and we all know what those policies issued.... Repeatable patern in history..
SORRY ABOUT RANT. I am an opotismist we are in an information reveloution and the violent monoplist have to understand the world is expecting rule of law.. Not rule of mandate..... Follow the money.. the rest is BS.
first get in line, second throw away your drinks, third come to think of it, throw away any personel cosmetics, pen knife,file, nail clippers, hair spray, fourth take off you shoes and empty your pockets, fifth let us fondle your child, your grandmother, your wife. have a nice day.
thats called freedom.
bye-bye USD