Ron Paul LAST YEAR: Monetary Inflation is the Problem

December 5, 2006:

“Politicians often manage to fool voters and the media, but they rarely fool the financial markets over time. …”

“This decline in the value of the dollar is simple to explain. The dollar loses value as the direct result of the Federal Reserve and U.S. Treasury increasing the money supply. Inflation, as the late Milton Friedman explained, is always a monetary phenomenon. The federal government consistently wants to spend more than it can tax and borrow, so Congress turns to the Fed for help in covering the difference. The result is more dollars, both real and electronic – which means the value of every existing dollar goes down.”

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