Ron Paul: The Fed is panicked and they’ve admitted they’ve lost control
He may be out of the race to be president, after some appalling treatment at the the hands of the higher-ups in the Republican party, but the only sane man to be in Congress in the past 30 years is still out there making waves against the money printers at the Fed.
He’s entire interview is as always well worth a watch if for nothing else to hear just how serious the situation now, is the takeaways are:
- To me, it is so astounding that it does not collapse the markets. [Bernanke] said, ‘We are in very big trouble. We are going to do something unprecedented and we believe it will not hurt the dollar.’
- But the dollar didn’t do so well today and the real value of the dollar is measured against gold, and gold skyrocketed from its very low to its highest. It means we are weakening the dollar. We are trying to liquidate our debt through inflation.
The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time.
- I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time.
- The system is failing, it was doomed to fail and we have to wake up to that fact.
– We like this idea that we can give people anything they want for free, so we can get reelected. Well, all of this is coming to an end.”
– Liquidity should be determined by the market. I don’t think he should raise rates. He should just get out of rigging rates. The system is so biased. It helps the bankers who get free money and then they buy government debt. What about the people who are frightened, they do not like the stock market and they are frugal and want to take care of themselves? What do they get—1% on a CD? That is unfair. It’s bad economics.
So there you have it folks, we can’t every say we weren’t warned can we?
Related posts:
- Krugman admits he lost debate with Ron Paul
- Ron Paul to call the Fed to testify at his next committee hearing
- (Ron) Paul V Paul (Krugman) – Austrian V Keynesian
- Ron Paul: This is the biggest problem the world has ever faced
- Ron Paul introduces the “Free competition in currency Act 2011″
Link to this article: : http://www.goldmadesimplenews.com/interviews/ron-paul-the-fed-is-panicked-and-theyve-admitted-theyve-lost-control-7919/
Posted by Thomas Paterson on Sep 14 2012. Filed under Interviews.
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