Ron Paul: Bailouts Will ‘Destroy the Dollar’

From: Newsmax

Paul has called for abandoning the Federal Reserve System and returning the nation to a gold and silver standard. He told Newsmax why.

It’s not so much that gold is perfect, it’s that paper is insane. To give politicians and bureaucrats and secret bankers the license to counterfeit money and create money out of thin air is destined to fail, and it has. That’s why we’ve had this financial bubble develop since the linkage to gold has been severed in 1971…

“Now they’re trying desperately to print and spend, but the bubble was overwhelming and the bursting of this bubble is something they can’t contain. It would never happen under a gold standard because there would be no legal right for our central bank to spend money and create money out of thin air. The arrogance of it all is unbelievable.

“If we continue doing what we’re doing now, we will literally destroy the dollar.”

Paul, who is a physician, was critical of Obama’s stated aim of developing a national health care plan. He said: “He has no money. Where is he going to get the money?

“He has no intention of bringing our troops home. He’s talked a little about Iraq, but we’re maintaining a world empire to the tune of a trillion dollars a year. He wants more troops in Afghanistan … You have to save some money someplace.…

Paul was especially popular on college campuses during his most recent presidential campaign. Martella asked: “Did you sort of feel like a rock star when you spoke to college students?”

Paul responded: “No, not really.:..

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