Ron Paul — the only presidential candidate who years ago foresaw our financial troubles coming due to our bad economic policies — schooled Ben Bernake yet again today during a House Financial Services Committee meeting. In regards to Bernake’s adherence to failed policies Paul warned him that “history is against you”.
This comes at a moment when oil prices are hitting record highs and when the Euro is at an all-time high against the dollar. Oil is predicted to climb much higher over the next few months; currently oil is very close to an all-time inflation adjusted high. Gold is also climbing quickly — and gold would be even higher if not for the artificial suppression of it’s price.
Between the tanking dollar (inflation), the housing meltdown, the credit crunch, and a pointless war in Iraq (that costs well over 400 million dollars per day) our economic outlook is not too bright and the middle class could soon be in danger of disappearing. On top of all that you’ve got Alan Greenspan over in the middle east last week encouraging them to drop the dollar peg. Even government can’t be this incompetent… it’s like it’s all being done on purpose! Hmm, so how long until they bring out the Amero?
Ron Paul appeared on the Fox Business channel to further discuss the dollar, monetary policy, the economy, and the events of the FSC meeting:
Market Traders Cheer Paul’s comments.
Filed under: Economy—US Dollar, Ron Paul | Tagged: amero, Austrian economics, Ben Bernake, bernake, dollar, economics, economy, Federal Reserve, history is against you, House Financial Services Committee, inflation, M3 money supply, money, Ron Paul, stagflation, US Dollar | Leave a Comment »