Denmark Bank predicts Ron Paul presidency, U.S. depression
Denmark based Saxo Bank predicts Ron Paul presidency in 2008. According to Pravda.Ru, the bank predicts Paul will be the next president and that the U.S. economy will plunge into a depression prior to the election.
Saxo Bank says the U.S. economy will shrink by 25% and the Chinese economy will decrease by 40%. The economic downturn will come about as a result of the housing crash.
Ron Paul has been critical of the Federal Reserve and has blamed the Federal Reserve for causing the real estate bubble and crash. Paul has said that the loose monetary policy of the Fed had artificially inflated real estate prices which lead to the collapse.
Paul supports ‘Sound Money’ and opposes the Federal Reserve’s ‘Inflation Tax’ and says that he wants to prevent a dollar collapse.