This page has been archived and commenting is disabled.

Ron Paul: "Central Bankers Are Intellectually Bankrupt"

Tyler Durden's picture


Likely glowing from his glorious victory (h/t Trish Regan) over Krugman in Bloomberg's recent Paul vs Paul debate, Rep. Ron Paul destroys the central-planning arrogance of Bernanke and his ilk in an Op-Ed released by the FT today.

Control of the world’s economy has been placed in the hands of a banking cartel, which holds great danger for all of us. True prosperity requires sound money, increased productivity, and increased savings and investment. The world is awash in US dollars, and a currency crisis involving the world’s reserve currency would be an unprecedented catastrophe. No amount of monetary expansion can solve our current financial problems, but it can make those problems much worse.

Our Central Bankers Are Intellectually Bankrupt

by Ron Paul

The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers.


Why? Central bankers neglect the fact that interest rates are prices. Manipulating those prices through credit expansion or contraction has real and deleterious effects on the economy. Yet while socialism and centralised economic planning have largely been rejected by free-market economists, the myth persists that central banks are a necessary component of market economies.


These economists understand that having wages or commodity prices established by government fiat would cause shortages, misallocations of capital and hardship. Yet they accept at face value the notion that central banks must determine not only the supply of one particular commodity – money – but also the cost of that commodity via the setting of interest rates.


Printing unlimited amounts of money does not lead to unlimited prosperity. This is readily apparent from observing the Fed’s monetary policy over the past two decades. It has pumped trillions of dollars into the economy, providing money to banks with the hope that this new money will spur lending and, in turn, consumption. These interventions are intended to raise stock prices, lower borrowing costs for companies and individuals, and maintain high housing prices.


But like their predecessors in the 1930s, today’s Fed governors behave as if the height of the credit bubble is the status quo to which we need to return. This confuses money with wealth, and reflects the idea that prosperity stems from high asset prices and large amounts of money and credit.


The push for easy money is not new. Central banking was supposed to have ended the types of periodic financial crises the US experienced throughout the 19th century. Yet US financial panics have only got worse since the centralisation of monetary policy via the creation of the Fed in 1913. The Depression in the 1930s; the haemorrhaging of gold reserves during the 1960s; the stagflation of the 1970s; the dotcom bubble of the early 2000s; and the current recession all have their root in the Fed’s loose monetary policy.


Each of these crises began with an inflationary monetary policy that led to bubbles, and the solution to the busts that inevitably followed has always been to reflate the bubble.


This only sows the seeds for the next crisis. Lowering interest rates in an attempt to forestall a recession in the aftermath of the dotcom bubble required massive credit creation that led to the housing bubble, the collapse of which we still have not recovered from today. Failing to learn the lesson of the bursting of both the dotcom bubble and the housing bubble, the Fed has pumped trillions of dollars into the economy and has promised to leave interest rates at zero through to at least 2014. This will only ensure that the next crisis will be even more destructive than the current one.


Not content with its failed attempts to prop up the US economy, the Fed has set its sights on bailing out Europe, too. Through currency swaps, it has committed to offering potentially hundreds of billions of US dollars to the European Central Bank and we cannot rule out the possibility of direct intervention.


The Fed’s response to the crisis suggests that it believes the current crisis is a problem of liquidity. In fact it is a problem of poorly allocated investments caused by improper pricing of money and credit, pricing which is distorted by the Fed’s inflationary actions.


The Fed has made banks and corporations dependent on cheap money. Instead of looking for opportunities to invest in real products that will serve the needs of consumers, Wall Street awaits the minutes of each Federal Open Market Committee meeting with bated breath, hoping that QE3 and QE4 are just around the corner. It is no wonder that long-term investment and business planning are stagnant.


We live in a world that seems to have abandoned the concept of savings and investment as the source of real wealth and economic growth. Financial markets clamour for more cheap money creation on the part of central banks. Hopes of further quantitative easing from the Fed, the Bank of England, or the Bank of Japan – or further longer-term refinancing operations from the ECB – buoy markets, while decisions not to intervene can cause stocks to plummet. Policy makers focus on spurring consumption, while ignoring production. The so-called capitalists have forgotten that capital cannot be created by government fiat.


Control of the world’s economy has been placed in the hands of a banking cartel, which holds great danger for all of us. True prosperity requires sound money, increased productivity, and increased savings and investment. The world is awash in US dollars, and a currency crisis involving the world’s reserve currency would be an unprecedented catastrophe. No amount of monetary expansion can solve our current financial problems, but it can make those problems much worse.


- advertisements -

Comment viewing options

Select your preferred way to display the comments and click "Save settings" to activate your changes.
Thu, 05/03/2012 - 15:02 | 2394832 Temporalist
Temporalist's picture


Thu, 05/03/2012 - 14:14 | 2394667 Kastorsky
Kastorsky's picture

I gues every one who votes this question down is happy that Ron Paul will not run for president?

Thu, 05/03/2012 - 14:43 | 2394771 earnyermoney
earnyermoney's picture

If he ran as an Independent he would be censored by the media on the orders of Republican dons because he has "no chance" to win. By participating as a Republican he gets his message to the people.

Thu, 05/03/2012 - 15:02 | 2394841 jonan
jonan's picture

i think he ran simply to get his message out, not to actually win...seems like people are finally getting the message judging by the results he's been getting...

Thu, 05/03/2012 - 15:31 | 2394915 pacu44
pacu44's picture

Really.... I mean, he is winning the GOP nomination... Delegate votes at the convention mean more than your vote at some primary... Do you not know how this works?


Catch up, Ron Paul is Winning ;)

Thu, 05/03/2012 - 13:56 | 2394556 buzzsaw99
buzzsaw99's picture

The fed's only barometer for success is how many billionaires they can mint with stolen money.

Thu, 05/03/2012 - 14:00 | 2394578 fuu
fuu's picture

I really should get around to finishing up that Ron Paul song.

Thu, 05/03/2012 - 14:25 | 2394584 Dr. Engali
Dr. Engali's picture

Romney can get the nomination but I am still writing in Ron Paul... By the next bubble has already been inflated, that's the bond bubble.

Thu, 05/03/2012 - 14:07 | 2394627 Smokey1
Smokey1's picture

Ron Paul sucks.

Thu, 05/03/2012 - 14:13 | 2394662 resurger
resurger's picture

I spot a sheep lol

Thu, 05/03/2012 - 15:29 | 2394891 akak
akak's picture

Says the kneejerk chickenhawk warmonger and hypocritical, big-government-loving oldguard Republican.

Go smoke a neocon's pole, Smokey.

Thu, 05/03/2012 - 15:31 | 2394918 moondog
moondog's picture

Don't hate Smokey1, he's one of the folks who have trouble breathing (mouth breather) and have no capacity for higher thought.

If mainstream media (I'm guessing Fox for this rube) doesn't say it, well hells bells it can't be true!

His fat ass will make alot of Soylent green though. See, we all have a purpose.

Thu, 05/03/2012 - 14:08 | 2394631 Seize Mars
Seize Mars's picture

The only candidate who has any idea what the hell he's talking about.


Thu, 05/03/2012 - 14:08 | 2394636 stateside
stateside's picture

Ron's son Rand will carry the torch once Ron retire's.  Same beliefs, better at communicating the ideas.  Beat his democratic opponent handily in the Kentucky senate race by telling people social security needs reformed.  The democrat kept saying how grandma and grandpap will go hungry as a result of Rand's extremist views.  The result....Rand wins by 20 points. 


Rand Paul 2016.


Thu, 05/03/2012 - 14:22 | 2394692 AnAnonymous
AnAnonymous's picture

The Paul dynasty will bear the standard.

In the US, we need more dynastic things.

Signed: a US citizen

Thu, 05/03/2012 - 14:38 | 2394753 WTFx10
WTFx10's picture


Thu, 05/03/2012 - 15:25 | 2394903 moondog
moondog's picture

Hi Chi-Com propaganda bot.

My daily greeting to you:

01100011 01101000 01101001 01101110 01100101 01110011 01100101 00100000 01101000 01100001 01110110 01100101 00100000 01101100 01101001 01110100 01110100 01101100 01100101 00100000 01110000 01100101 01101110 01101001 01110011

Thu, 05/03/2012 - 14:25 | 2394709 battle axe
battle axe's picture

stateside: You are exactly right, this will be the setup for Rand for 2016....

Thu, 05/03/2012 - 14:34 | 2394737 Temporalist
Temporalist's picture

As a Ron Paul supporter I will not blindly place allegiance with someone just because they are his offspring.  Rand has very little time being in congress and I've not liked everything I've seen or heard from him.  He is not his father (and almost every Ron Paul supporter doesn't agree with everything RP says but prefer his intellecutal honesty, consistency, civil rights advocacy, constitutionality and accurate predictions of events over the "lesser of two evil" candidates).

Thu, 05/03/2012 - 14:40 | 2394761 Ben Burnyankme
Ben Burnyankme's picture

I with Jefferson. 

The leviathan is too big.  Way out of scale.  No one person can represent 700,000 people in a Congressional district.  No benefits for being a member of this bastardization of what once was a great republic.  I vote for the S Word instead of betting on one man or many to fix this corrupt monster.

Thu, 05/03/2012 - 14:10 | 2394644 hankwil74
hankwil74's picture

The only question is how big the bubble has to get before the burst becomes thermonuclear.  The housing/credit bubble was one hell of a big bubble, and while it brought down Lehman and some others, the big banks just got richer.  How much bigger can the bubble get, and can a bubble ever get big enough to bring down the entire worldwide banking system?  Or will gov't intervention always prevail?

Thu, 05/03/2012 - 14:36 | 2394749 WTFx10
WTFx10's picture

the us government made the big banks richer . theres a difference

Thu, 05/03/2012 - 14:10 | 2394648 PhattyBuoy
PhattyBuoy's picture

Perpetual "bubble-blowing" schemes can only end in one place - planetary disaster.

Thu, 05/03/2012 - 14:10 | 2394650 Westcoastliberal
Westcoastliberal's picture

Unless a miracle happens at the GOP convention and Ron Paul comes out the nominee, perhaps he'll decide to run as an independent.  I think he would get the swing voters, many Repubs and Dems like me who bought into the Hope & Change crap Obama spewed and were sorely disappointed.  For the record, Obama started losing me when he gave up the Public Option before negotiations even began; when he hired Geithner & Summers, and the capper was when he signed NDAA after he said he wouldn't.

The "looking forward not backward" crap about not prosecuting Bush/Cheney for war crimes got me riled too.

I don't agree with RP on everything he says, but I like that he sticks by his convictions and he would try to return us to the Constitution.

Thu, 05/03/2012 - 14:36 | 2394744 Temporalist
Temporalist's picture

Don't forget that he campaigned against "fat cats" and now is just another pudgy pussy redistrubuting the milk to his feral friends.

Thu, 05/03/2012 - 14:37 | 2394747 earnyermoney
earnyermoney's picture

It'll be a miracle alright. I'll be casting a vote for RP in North Carolina's primary on Tuesday. Also writing in his name on the ballot in November. If he were to win in November, the fascists running the country would put a cap in his head as he takes the Oath of Office.

Thu, 05/03/2012 - 15:02 | 2394839 NotApplicable
NotApplicable's picture

They won't kill him. That would only strengthen the liberty movement, as there's no way it would be allowed to stand.

If he were to manage to get elected, TPTB will simply break absolutely everything and dare him to face the crowds demanding that he save them. Market crashes, terrorist attacks, collapsing governments around the world, you name it, they'll do it, all to prove their intervention is not only desired, but needed.

It's all about sustainaibility. They've destroyed most of the system already, while what's left is barely propped up. It's all going to collapse no matter what, so might as well blame it on the only one who would've prevented it in the first place.


Thu, 05/03/2012 - 15:06 | 2394851 Temporalist
Temporalist's picture

The kleptocrats think just like the Joker and Ron Paul is The Batman:

Thu, 05/03/2012 - 14:12 | 2394652 riphowardkatz
riphowardkatz's picture

no they aren't brusca said so

Thu, 05/03/2012 - 14:11 | 2394653 blindman
blindman's picture

Central Banking -- Swindler's List
"...The Federal Reserve is not owned by the people of America. American money, marked "Federal Reserve Note," is rife with occultic symbols and meanings unknown to most Americans. The Federal Reserve prints American currency, lends it to the American government and charges interest, which is paid for by Americans giving up large portions of their earnings in the form of "income tax." But Americans are not alone ...

Here's a list of the Rothschild-owned central banks of the world:
List of countries by external debt
From Wikipedia, the free encyclopedia
notice afghanistan, in us dollars, owes 92 per capita. how do they do it?
they fought off everyone for only $92 per person? anyway..let's move on.
May 02 (6) We Can Defeat the NWO if we Just (stop) Complying with it...
.." Max Igan : Fight The New World Order with Global Non Compliance , Non Compliance and civil disobedience are the key to defeating the New World Order and shutting it down and defeating its plans , it's time to cut the head of the snake namely the financial system , the revolution is not coming the revolution is NOW , The money system is the head of the snake. Cut the head off the snake and the rest of it will whither and die." ..

The Gary Null Show – 04/26/12
April 26, 2012 | Filed under: Gary Null Show, Remarkable Minds and tagged with: Conversations with Remarkable Minds, economy, Gary Null, John Perkins
Why the world financial markets imploded – looking at the future
"For many years, John Perkins was an economic hit man (EHM), a job he held to convince developing nations to accept enormous loans for infrastructure development and to guarantee that development projects were contracted to US corporations such as Halliburton and Bechtel." ...
The Gary Null Show – 04/25/12
April 25, 2012 | Filed under: Gary Null Show, Remarkable Minds and tagged with: Conversations with Remarkable Minds, economy, Meditation, national debt, neuroplasticity, neuroscience, Richard Davidson, Simon Johnson, White House Burning

The national debt and deficit conundrum and why it matters to us
"Professor Simon Johnson is the Ronald A Kurtz Professor of Entrepreneurship at MIT’s Sloan School of Management, where he specializes in financial and economic crises. He is member of the Congressional Budget Office’s Panel of Economic Advisors and the FDIC Systemic Resolution Advisory Committee and President of the Association for Comparative Economic Studies. From 2007 to August 2008, Prof. Johnson served as the chief economist of the IMF and the director of its research department where he focused on formulating innovative responses to the global financial crisis.
Along with his co-author James Kwak at the University of Connecticut, he hosts the influential website which keeps up on the current economic crisis. Their most recent book – “White House Burning: The Founding Fathers, Our National Debt and Why It Matters to You” comes on the heels of their acclaimed book Thirteen Bankers – considered by many economists as the most concise book on the financial meltdown. The new details the history of our national debt and deficit, which is being regarded by many commentators as perhaps the key topic during the upcoming presidential election." ..

Thu, 05/03/2012 - 14:15 | 2394672 MarsInScorpio
MarsInScorpio's picture

Ron Paul is talking WAY over the heads of the US electorate - that's why he's not winning the race.


I never cease to be amazed that intelligent people fail to recognize that being 30 points to the right of the median IQ score makes them as weird as those who are 30 points to the left. Just as the IQ 70 individual has problems associating with the rest of society, so too does the IQ 130 person. Those on the high-end right don't get it that those to the left of them don't get them!


It's not a level playing field. We are not all created equal. Intellect is a real cultural barrier, and the Ron Paul people fail to bring their points down to an intellectual level that those at the 90 - 110 level can understand.


I know some of you are turning up your nose about my suggestion that Ron Paul "dumb down" his message. Well, tough - come off your high-horse and deal with the reality that if the person listening to you doesn't understand what you are saying, then there is no communication taking place. You are just babbling to your version of elites, and failing to motivate the bulk of the electorate.


When the elitists supporting Ron Paul wake up to this reality, then MAYBE he will be able to change things in America. But until they do, all they are really doing to giving themselves a self-congratulatory pat of the back, reinforcing to themselves their intellectual, and moral, superiority - and not making a bit of difference in the course America takes.


Thu, 05/03/2012 - 14:26 | 2394714 AnAnonymous
AnAnonymous's picture

How true.

And remember, Ben Bernanke (through SAT score association) is around 160 IQ.

Consider the pain he has toendure to deliver some obvious points to himself to the 130IQ crowd, let alone the 100 IQ crowd, and he drops the ball for the rest.

Thu, 05/03/2012 - 15:38 | 2394923 akak
akak's picture

You should know that your logically tortured, cryptic and subhuman Chinese Citizenism mentality, combined with your obvious autism, combined with your obvious low IQ, combined with your limited skills in Engrish, result in you consistently spewing nothing but nonsensical streams of polluted gibberish --- but your collectivist ramblings and bigoted diatribes nevertheless make for positively hilarious reading.

You, dear dishwashing comrade, are my absolute favorite ZeroHedge troll.

Thu, 05/03/2012 - 15:49 | 2394965 TheFourthStooge-ing
TheFourthStooge-ing's picture

akak said:

You, dear dishwashing comrade, are my absolute favorite ZeroHedge troll.

The comedy of Chinese citizenism has not known the limit.


Thu, 05/03/2012 - 15:51 | 2394970 AnAnonymous
AnAnonymous's picture

Austistic to what?

Certainly not US citizen nature.

Thu, 05/03/2012 - 16:16 | 2395059 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

Austistic to what?

Certainly not US citizen nature.

Agreeing with you here. You are not being autistic to US citizen nature, but more like hallucinationistic.

You are being autistic to eternal nature of Chinese citizenism.


Thu, 05/03/2012 - 16:27 | 2395091 AnAnonymous
AnAnonymous's picture

You are being autistic to eternal nature of Chinese citizenism.


Thank you, sir, but no, I do taste fantasy. It is simply that even by US citizen standards (and one knows how US citizen standards are low ) your fantasy is poor.

Strictly anchored in reality human beings might exist but I am not one.

Thu, 05/03/2012 - 16:33 | 2395109 akak
akak's picture

Strictly anchored in reality human beings might exist but I am not one.


An honest admission of truth from a Chinese Citizenism citizen?

How can this be?

Has the Hell gone frozen on top of already?


Thu, 05/03/2012 - 16:48 | 2395158 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

Strictly anchored in reality human beings might exist but I am not one.

I agree with this Chinese citizenism post.


Thu, 05/03/2012 - 16:19 | 2395064 akak
akak's picture

Bite the wax tadpole!

Thu, 05/03/2012 - 14:40 | 2394760 WAMO556
WAMO556's picture

What??? I just finished reading your comment - and I must say, I have NO idea what you just said. I think that YOU misunderstand what Ron Paul is saying... the average joe knows what the Doc is saying, I got it, message recieved and yes my IQ is off to the right, but that does not mean that he hit me intellectually. What you fail to understand is that YOU don't care, did you receive the Doc's message or are you stuck in a mobius loop of: the messenger vs the message! Which one is it buster??? You have a Robert Conrad copper top battery on your shoulder asking someone to knock it off... "SLAP", there I just did it. Now YOU get off of your high horse and either support the Doc or go and support MITTENS for all I care.

Thu, 05/03/2012 - 15:13 | 2394872 NotApplicable
NotApplicable's picture

Dr. Paul's message is extremely simple; only in a free society can individuals grow into a community and prosper. Anyone who thinks it's too complicated has never bothered to attend one of his speeches.

Even the so-called complex topics, such as economics, are accessible to his crowds as they are really nothing more than the study of (once again) free people freely making choices to best meet their own needs. One does not need to rattle off a bunch of statistical aggregate numbers in order to point out the absurdity of trying to solve a debt problem with even more debt. Nor are they necessary to understand the counterfeiting actions of the not-Federal, not-Reserve.

Nor are they necessary to understand the duopoly of the warfare-welfare state. Sure there are many people who only want to hear what's in it for them. For Dr. Paul's supporters, it is the freedom from a predatory state. Like I said, nothing too complex at ALL.

Thu, 05/03/2012 - 18:22 | 2395378 MarsInScorpio
MarsInScorpio's picture

NotApplicable, when you go to a Ron Paul speech, you are typically either surrounded by political fanatics who are already into the Libertarian mindset, and therefore Ron Paul is regurgitating the same ideas they already believe, or he is on a university campus speaking to students who are also well above the norm in terms of intelligence and education about the issues. Neither group is your everyday America.


Now go out to the supermarket and talk to the average wage slave who is neither politically indoctrinated to Libertarianism, nor well-read or a regular viewer of the Fox talk shows. See how far you get.


You guys just don't get it - and that is why you won't get the nomination either. In fact, it is so bad out there, that Obama may just get re-elected. The political sophistication of America is beyond pitiful.


But, politely, you guys just don't get it.


Thu, 05/03/2012 - 18:12 | 2395348 MarsInScorpio
MarsInScorpio's picture

WAMO556, If the Average Joe understood what Paul was saying, he would be cleaning up in delegates, would be recognized as leading the pack, and would be getting solicited for VP nominees. That isn't happening.


Ron Paul supporters are like Apple fanatics; they live in their own world where they are superior to everyone else, unable to understand how anyone who isn't drinking their Kool-Aid can possibly be so dumb, ignore anything that contradicts their self-created universe, and are insulting as can be when you talk to them - just as you were to me.


But thanks for demonstrating my point that highly intelligent people often fail to grasp how highly intelligent they are, and that the vast bulk of humanity isn't up there with them. And that frustrates these highly intelligent people to the point of being alienating in their speech, which then drives the less intelligent away - and in fact permanently alienates the less intelligent so that they will never be your allies - just as you were to me, again.


Have a great life, and I'll see you when Romney gets the nomination. Maybe Ron's son Rand can do better.


Thu, 05/03/2012 - 14:48 | 2394788 riphowardkatz
riphowardkatz's picture

how can someone not understand that if they agree to a salary of 50k to be paid in dollars and then there is a doubling and tripling of the number of dollars that their salary will buy considerably less in the future?

You are confusing apathy for misunderstanding. 



Thu, 05/03/2012 - 14:50 | 2394792 Temporalist
Temporalist's picture
Ron Paul is winning against Mitt Romney in delegates


Ron Paul Qualifies for the Convention in Tampa


 Michael Scheuer speaks out about Fox "news"

Support for Dr. Paul by Scheuer and Napolitano on Faux reason for their cancellation/disinterest

Thu, 05/03/2012 - 15:17 | 2394884 CoolBeans
CoolBeans's picture

I am going to venture a guess that many Paul supporters are in a quandry.

They could vote for Paul but if he loses, the votes for Romney are then diluted and the result is O'Bummer could win again.

What to do...what to do...

Thu, 05/03/2012 - 16:29 | 2395094 El
El's picture

No quandry here. I'll vote for Paul regardless of whether he is the nominee. The differences between the two are so marginal that a vote cast for Romney is the same as casting one for Obama and ultimately will get us to the same place. Status quo? No thanks.

Thu, 05/03/2012 - 16:33 | 2395108 JohnKing
JohnKing's picture

Let Obama win.


Rejecting Ron Paul is stupidity that is deserving of punishment. Besides that I don't want a right wing socialist in office parading as a conservative.

Thu, 05/03/2012 - 16:39 | 2395131 css1971
css1971's picture

Romney is Obama.

They've managed to turn politics from the one dimensional farce it has been for years into a zero dimensional farce. You get no choice now.


Thu, 05/03/2012 - 14:59 | 2394827 acetinker
acetinker's picture

Yup.  The people get the government they deserve.  I mean, our current POTUS has a logo.  A MOTHERFUCKING LOGO!  It's a ripoff of Pepsi's logo too boot.  Agree that most of what RP says goes in one ear and out the other of the average Joe/Jane...  but that doesn't change the fact that most of our neighbors are willfully ignorant, blithering idiots!


To paraphrase Carlin:

"When you meet someone new, they are most likely of average intelligence, right?  So consider this; HALF THE POPULATION IS STUPIDER THAN THAT.

Thu, 05/03/2012 - 14:38 | 2394756 JohnKing
JohnKing's picture

Thank you Ron Paul.

Thu, 05/03/2012 - 14:39 | 2394757 jbvtme
jbvtme's picture

Thu, 05/03/2012 - 14:40 | 2394765 q99x2
q99x2's picture


Official military document. Better watch what you say.

Thu, 05/03/2012 - 14:42 | 2394769 Seorse Gorog fr...
Seorse Gorog from that Quantum Entanglement Fund. alright_.-'s picture



Hot off the press documentary about the debt-based banking system and monetary reform...


Get in!...

Thu, 05/03/2012 - 14:46 | 2394779 Shizzmoney
Shizzmoney's picture

Ron Paul *totally* didn't call this meme from the international banking community: "if you regulate us, we'll lend less".

"Who are Central Bankers?", Alex Trebek.  I'll take "Social Extortion" for $800.

Thu, 05/03/2012 - 14:49 | 2394789 skepticCarl
skepticCarl's picture

What is really sad is that Ron Paul is the only semi-recognizable political figure out there carrying the message of responsible fiscal/monetaryl policy and non-interventionist foreign policy.  That message should have such a widespread following that any would-be leader could run with it.

Thu, 05/03/2012 - 15:02 | 2394836 suckerfishzilla
suckerfishzilla's picture

Stealing everything that isn't nailed down isn't intellectual bankruptcy.  It's criminal.

Thu, 05/03/2012 - 15:04 | 2394845 jonan
jonan's picture

cheers to all the RP supporters, like myself, who supported him before he was cool!

Thu, 05/03/2012 - 15:06 | 2394848 CoolBeans
CoolBeans's picture

The "Moral" side of the spread sheet isn't looking too good either.

I think the only thing that will change the current course is a big, fat RESET.  It will hurt.

Thu, 05/03/2012 - 15:12 | 2394869 loveyajimbo
loveyajimbo's picture

I wonder if Mitt has the sack to offer Ron Paul a BIG position at or before the convention...??  Maybe Treasury?  maybe head of the Fed?  I vote Bill Black for Justice, Grant for Treasury or Fed, Webb for defense, ande Thune for VP...

Thu, 05/03/2012 - 15:22 | 2394894 blindman
blindman's picture

"education is always expensive but usually has little
to do with paying tuition, more to do with paying attention." fortune cookie logic.
i once visited the bakery where they write those statements
that go into the fortune cookies. in america it is in
san francisco in the china town area, whatever they call it.
i had a fortune cookie statement i gave him, the guy, to
consider, hopefully to be printed millions of times and
given as a gift for eating chinese food.
i'm still waiting to see it come back to me.
the guy just laughed at me, but he took the statement.
next door is some famous chinese lute or violin, cigar box
guy who plugs his instrument into an am radio amplifier and
plays his hits as have been heard in movies such as the karate
kid, or something like that. it is all good and close by you can
have your coins flattened into pendants or book markers. near this
you can find many tenant entrepreneurs who never receive their
payments for sales and need to relocate to an area where the rent
doesn't devour their entire operation. sometimes they have sales
and practically give away the stuff they can no longer look at
as these items remind them of a time when they believed there is
some correlation between quality and value in their particular
market. hahahahahhahahahahah.

Thu, 05/03/2012 - 15:34 | 2394925 wisefool
wisefool's picture

snarc: Ron Paul is the worst best chance we got because he does not reveal the real truth openly. Bloomberg is the only channel I can get now cause the IRS says I should not be able to afford cable TV or a cell phone. Pendantic debate with him, kruggermeister, and Trish Regan last night. link misdirected to UFC.

truth: There is no need to tax income (slavery) unless you are doing something wrong and you need company.

Thu, 05/03/2012 - 15:50 | 2394963 proLiberty
proLiberty's picture

When I started in IT in the early 1970's at a university teaching hospital, the head of my unit was a physician who had previously been the head of the Pathology Department at the medical school.  He told me a physician's axiom: "Obstruction begets infection".    He meant that a physician observes than when some part of the body is built to drain, like the sinus or ears, when that drain becomes obstructed, that infection often starts behind the blockage.

Later in life I cane to see this as an excellent management axiom as well: When a function can obstruct outside review of its conduct or finances, it is easy for the people in that operation to assume powers they normally wouldn't take to themselves, and for them to make decisions that would not stand outside scrutiny, or to take action that would normally result in sanction or termination.

This axiom applies in all aspects of the human sphere, whether in personal relationships, in government, charities or corporations.  When people can build an empire and immunize themselves from outside review, critique or control, they often assume and presume powers they should not.

It only invites trouble for us to allow the people running the printing press of our money to do so behind anything else than glass walls, yet we clamor for the opposite, that they are doing us a favor by reporting once in a while, after the fact, and then only opaquely. We must abolish the Fed.  We are giving humans the power to embezzel more wealth than any human can even comprehend.   We invite them to be "independent", and to obstruct their dealings with other "independent" central banks, staffed by people who all went to the same few schools, and who hob-knob at the same few events, vacation at the same few resorts and who read the same few journals.  It is not just the Fed where obstruction has given way to infection.  It is the entire world of fiat money.  Can humanity survive a collapse of the entire world's monetary system?   I fear we may soon find out.


Thu, 05/03/2012 - 15:59 | 2395003 AnAnonymous
AnAnonymous's picture

Can humanity survive a collapse of the entire world's monetary system? I fear we may soon find out.


Of course they can and will.

It has never been about humanity. Only about US citizens and their societies.

Thu, 05/03/2012 - 16:20 | 2395067 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

It has never been about humanity. Only about US citizens and their societies.

Sure, sure, going all the way back to 40,000 BC in the days of Confucius, the first US citizenism citizen.

Made me laugh.


Thu, 05/03/2012 - 16:28 | 2395098 AnAnonymous
AnAnonymous's picture


US citizen in 400 BC?

You certainly meant to associate a historical character to your fantasy chinese citizenism, not the reality of US citizenism...

Else, that is cheap, once again, even by US citizen standards.

Thu, 05/03/2012 - 16:49 | 2395150 akak
akak's picture


You certainly meant to associate a historical character to your fantasy chinese citizenism, not the reality of US citizenism...

Speaking of collectivist and bigoted fantasies, please tell double lucky good story of how mythical "US Citizenism" was responsible for environmental destruction and societal collapse of Easter Island in early 17th century, more than 100 years before july 4, 1776?

Not only before July 4, 1776, but before there had been ANY outside contact between Easter Island inhabitants and anyone else since founding of society there?

I look forward to seeing you spin the yarn of lies into such a beautiful tapestry full of shit and blind prejudice once again.

Thu, 05/03/2012 - 16:58 | 2395184 akak
akak's picture

In reply, only Chinese crickets do I hear.

The denialism and running-awayism of hypocritical Chinese Citizenism trolls is legendary.  One for the ages.

Thu, 05/03/2012 - 16:50 | 2395165 TheFourthStooge-ing
TheFourthStooge-ing's picture

AnAnonymous said:

US citizen in 400 BC?

You certainly meant to associate a historical character to your fantasy chinese citizenism, not the reality of US citizenism...

More eternal mettle of Chinese citizenism denial and offuscation.

Everyone knows that US citizenism was established by Confucius.


Thu, 05/03/2012 - 15:59 | 2395002 worbsid
worbsid's picture

Here's how this works in real life:


Thu, 05/03/2012 - 16:44 | 2395147 Rastamon
Rastamon's picture

once again WRONG PAUL gets it wrong ... this isn't socialism...this is full bown FASCISM that he and his friedmanite peabrains and Reaganite voodoo economists helped to bring about


if libertarians are suffering, it's only because they are reaping what they've sewn.

Thu, 05/03/2012 - 17:15 | 2395237 Moe Howard
Moe Howard's picture

Vote Ron Paul early and often - Chicago Style - Chairman Moe

Thu, 05/03/2012 - 18:10 | 2395342 bankonzhongguo
bankonzhongguo's picture

It just goes to show how the two American political parties are NO different than say the two factions within the Chinese Communist Party.

You can't have a Newt Gingrich without a Nancy Pelosi. 

You can't have a Cheney without a Hilary. 

You can't have an Obama without Bush.

There is NO difference between these hacks and their fake parties.

The fact that the GOP fielded so many "candidates" for the primary reason means their central (illegitimate) purpose was to split the vote, create fake programming and otherwise derail media attention from Ron Paul's message - End the Fed.

The GOP could not afford to have Romney face off against Paul face to face in any national debate.  Epic Fail.

If Obama get another 4 years it's because the GOP WANTED OBAMA to WIN!

Paul is the best candidate, but instead the GOP wants a plastic pirate banker to represent the party during this Depression?  Really?

Paul is in it to the end.

Don't let the lame stream media tell everyone otherwise.



Thu, 05/03/2012 - 18:55 | 2395434 Cyclerider
Cyclerider's picture

Ron Paul is a great man but he writes much better than he speaks.  Apparently he had some problems with the facts in his discussion with Krugman.  Check out the link to historical tax rates.

Thu, 05/03/2012 - 20:00 | 2395515 bunnyswanson
bunnyswanson's picture

Leave it up to Americans to look a gift horse in the mouth.  What you have got here is a man who is risking his life for his country, literally.  Ron Paul, unlike any other politician in politics and at the center of the stage, dares to call the federal reserve financial terrorists, intentionally destroying the economy, stating reasons that make no sense.

Do you understand how profound that is?  You should be on your fucking knees kissing his feet you stupid son of a bitch.

Fri, 05/04/2012 - 03:17 | 2395991 slackrabbit
slackrabbit's picture

+1,000,000 (inflation adjusted - thx Ben)

Fri, 05/04/2012 - 04:18 | 2396036 Monk
Monk's picture

The global economy isn't controlled by central banks but by large, multinational commercial banks. The current crisis began with only a trillion dollars of subprime lending, then coupled with almost a quadrillion dollars in unregulated derivatives. There is no solution for that, including bailouts from governments and central banks.

Those commercial banks were formed and engaged in financial speculation thanks to deregulation. Thus, what we are seeing now is essentially the result of a free market global capitalist system, the system that Paul ironically supports.


Wed, 05/30/2012 - 22:24 | 2478089 monad
monad's picture

Amendment in the works to legalize use of propaganda on Americans.

As if the MSM 2% fact RDA isn't enough...

Wed, 05/30/2012 - 22:25 | 2478098 monad
monad's picture

RON PAUL 2012 !

Do NOT follow this link or you will be banned from the site!