TIMB0B
3/5/2011, 02:51 PM
This is ONE of many warnings...
"Since the federal government uses inflation -- the creation of new money -- to pay its bills, we can look on it as a tax, a tax we all pay in higher prices. But inflation is an exceedingly unfair and regressive tax. Not all sectors of the economy suffer equally. In fact, some benefit, since inflation results in a transfer of wealth from savers and workers to speculators, bureaucrats, and the special interests favored by government. Inflation also breeds mistrust. Its economic effects are so destructive, because it leads -- as it has in our country -- to rising prices and unemployment. It misdirects the economy and prevents accurate assessment of future business conditions, thus contributing to bankruptcies of cities and corporations, like New York City, Cleveland, and Chrysler.
At first, inflation does 'stimulate' the economy, in the same way a dose of heroin stimulates a drug addict. It feels great for a while, but there is a price to be paid. Eventually, the economic conditions created by inflation lead to social discontent and anger, as classes, races, and regions are set against one another. Everybody grows irritable and uncertain about the future, as they find it harder and harder to make ends meet. Plans become difficult to make, and everyone directs his efforts toward day-to-day survival, rather than the long-term efforts that build an economy and a society."
"Inflation is theft. People who worked hard and saved, the retired, and others on fixed incomes, are robbed, just as surely as if an armed criminal mugged them on the street. The very people who should be rewarded for their effort in caring for themselves are the ones hurt the most."
"The Founding Fathers, after their experience with inflation during the Revolution, said that real money was gold and silver. A dollar was about 1/20th of an ounce of gold. But we have had so much inflation that today's dollar -- which is only a piece of paper backed by nothing -- is worth less than 1/400th of an ounce of gold. To end inflation, we need to stop deficit spending and have a dollar that is tied to a specific commodity, like gold or silver ... Let us pull the plug on the printing presses, stop the destruction of our money and our country through inflation, and encourage the healthy economic growth we need." - Dr. Ron Paul, November 16 1979
'Ron Paul Told Us So' - The Economic Crisis (http://valuefreedom.blogspot.com/2008/05/ron-paul-told-us-so-economics.html#Debasement)
"This page consists of excerpts from a selection of Ron Paul's speeches and columns on economic matters, and a few highlights are bolded below. Throughout his time in Congress (1976-1977, 1979-1985, 1996-present), Dr. Paul tirelessly forewarned of the dire consequences of the Federal Reserve system, fiat currency, deficit spending, corporate statism, and central planning -- consequences that are now besetting the American people.
Dr. Paul primarily attributes the prescience of his work to the scholarship of the 'Austrian School', and he humbly insists that he's 'just the messenger.' While his acknowledgment of intellectual influences is certainly commendable, Dr. Paul himself deserves great credit for his patient, persistent, and often thankless efforts to inform others over the years. This page is intended as a testament to his farsightedness and perseverance, and as a convenient resource for anyone working on projects to advance the cause of liberty and the 'Ron Paul Revolution." - Value Freedom
http://valuefreedom.blogspot.com/2008/05/ron-paul-told-us-so-economics.html#Debasement
"Since the federal government uses inflation -- the creation of new money -- to pay its bills, we can look on it as a tax, a tax we all pay in higher prices. But inflation is an exceedingly unfair and regressive tax. Not all sectors of the economy suffer equally. In fact, some benefit, since inflation results in a transfer of wealth from savers and workers to speculators, bureaucrats, and the special interests favored by government. Inflation also breeds mistrust. Its economic effects are so destructive, because it leads -- as it has in our country -- to rising prices and unemployment. It misdirects the economy and prevents accurate assessment of future business conditions, thus contributing to bankruptcies of cities and corporations, like New York City, Cleveland, and Chrysler.
At first, inflation does 'stimulate' the economy, in the same way a dose of heroin stimulates a drug addict. It feels great for a while, but there is a price to be paid. Eventually, the economic conditions created by inflation lead to social discontent and anger, as classes, races, and regions are set against one another. Everybody grows irritable and uncertain about the future, as they find it harder and harder to make ends meet. Plans become difficult to make, and everyone directs his efforts toward day-to-day survival, rather than the long-term efforts that build an economy and a society."
"Inflation is theft. People who worked hard and saved, the retired, and others on fixed incomes, are robbed, just as surely as if an armed criminal mugged them on the street. The very people who should be rewarded for their effort in caring for themselves are the ones hurt the most."
"The Founding Fathers, after their experience with inflation during the Revolution, said that real money was gold and silver. A dollar was about 1/20th of an ounce of gold. But we have had so much inflation that today's dollar -- which is only a piece of paper backed by nothing -- is worth less than 1/400th of an ounce of gold. To end inflation, we need to stop deficit spending and have a dollar that is tied to a specific commodity, like gold or silver ... Let us pull the plug on the printing presses, stop the destruction of our money and our country through inflation, and encourage the healthy economic growth we need." - Dr. Ron Paul, November 16 1979
'Ron Paul Told Us So' - The Economic Crisis (http://valuefreedom.blogspot.com/2008/05/ron-paul-told-us-so-economics.html#Debasement)
"This page consists of excerpts from a selection of Ron Paul's speeches and columns on economic matters, and a few highlights are bolded below. Throughout his time in Congress (1976-1977, 1979-1985, 1996-present), Dr. Paul tirelessly forewarned of the dire consequences of the Federal Reserve system, fiat currency, deficit spending, corporate statism, and central planning -- consequences that are now besetting the American people.
Dr. Paul primarily attributes the prescience of his work to the scholarship of the 'Austrian School', and he humbly insists that he's 'just the messenger.' While his acknowledgment of intellectual influences is certainly commendable, Dr. Paul himself deserves great credit for his patient, persistent, and often thankless efforts to inform others over the years. This page is intended as a testament to his farsightedness and perseverance, and as a convenient resource for anyone working on projects to advance the cause of liberty and the 'Ron Paul Revolution." - Value Freedom
http://valuefreedom.blogspot.com/2008/05/ron-paul-told-us-so-economics.html#Debasement