Tell them how it is Ron.

This is coming from a guy who thinks we should use real gold for transactions, and the way to get people to do that is to cancel the gold taxes.

Ron Paul often criticizes problems of overabundance of credit created by fractional reserve system in the times of boom, but never addresses the problems of overly tight money supply inherent in the gold standard or 100% reserve system (such as risk of entering a deflationary spiral)

http://en.wikipedia.org/wiki/Deflation_%28economics%29#Deflationary_spiral

Deflationary spiral? Isn't that also called an improvement in the standard of living?

But seriously, that wiki article suggests that the Great Depression was an example of a deflationary spiral... That somehow prices determine supply and demand when the exact opposite is true.

Go back to the drawing board. Start with a little book called "The Law" by Frederick Bastiat.

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