CNBC Kudlow & Company - Gold Standard vs Fiat Currency

Ron Paul on CNBC's Kudlow & Company 3-20-2008 7pm est discusses why we should abolish the federal reserve
NetRunnersays...

I'm not so sure about the gold standard per se, but I agree with most everything else he says, including the manipulation of currency to stabilize the growth in wealth for the rich, while screwing (he says "tax") the middle class.

I'd think if you just set hard floors and ceilings on the total number of dollars in circulation, you could prevent long-term inflation, while still retaining some of the market control we have now.

Then we just need to get rid of the bastards who use the control for evil purposes, and we're in business.

Crosswordssays...

From my perspective the current problem is being caused by a complete lack of regulation. Sure the Fed adjusts rates etc etc, but the market itself invests money in speculations, that are made of speculations that are made off other speculations. Its almost like a financial game of musical chairs, there's the illusion there's enough room for everyone but in the end only one person walks away with the actual money and everyone else is stuck with the debt.

I think the war has a lot to do with the actual decline of the dollar, the government has borrowed so much freaking money to fund it, I'm surprised we aren't passing around Chinese notes instead of dollar bills.

This is what trickle down economics looks like in practice, the rich are well taken care of, and everyone else is more or less screwed. The rich don't let money trickle down, that's how they got rich in the first place.

Trancecoachsays...

Little known fact that, back in 2000, one of the leaders of an oil rich nation saw the decline in the dollar and decided to trade his nation's oil in Euros instead of the (petro) dollar. The nation? Iraq. The leader? Saddam Hussein.

I guess there's little wonder how he suddenly "reappeared' on the radar after 9/11.

And somehow the U.S. mainstream media "failed" to report this.

How shocking.

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