Steve G.

Ron Paul on Fed/AIG

In Libertarian on September 18, 2008 at 1:25 am

Rep. Ron Paul appeared on Fox News’s “Your World With Neil Cavuto” Wednesday to discuss the ongoing financial crisis and the Federal Reserve loan to AIG. Paul said in part, “Unless you recognize the problem and say it’s an unsound monetary system, you’re going to see the destruction of the dollar. Won’t people get wondering about going to something of real value? What happened to gold today? Finally, people think, ‘Hey, maybe this system is unsound.’ … Where did they get this $85 billion? Did it come out of your pocket or my pocket? No. Did it come from an appropriation? No. It’s just the Federal Reserve over there guaranteeing credits, expanding, and that is destructive to the dollar. This is very, very destructive to the dollar. When you destroy the dollar you’re going to destroy homes for a lot of people and medical care for everybody else because you’re going to see skyrocketing inflation.”

  1. The media dismissed Ron Paul as a loon because he was warning us about this two years ago. The media will hype the “sane” and things will get worse.

  2. Marlene Affeld…

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