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Ron Paul: Why Big Government Hates Gold
www.RonPaul.com – 06 Why Big Government Hates Gold by Ron Paul This past week several emerging and ongoing crises took attention away from the ongoing sovereign debt problems in Greece. The bailouts are merely kicking the can down the road and making things worse for taxpaying citizens here and abroad. Greece is unfortunately not unique in its irresponsible spending habits. Greek-style debt explosions are quickly spreading to other nations one by one and yes, the United Stated is one of the dominoes on down the line. Time and again it has been proven that the Keynesian system of big government and fiat paper money are abject failures in the long run. However, the nature of government is to ignore reality when there is an avenue that allows growth in power and control. Thus, most politicians and economists will ignore the long-term damage of Keynesianism in the early stage of a bubble when there is the illusion of prosperity, suggesting that the basic laws of economics have been repealed. In fact, one way to tell that a bubble is about to burst is if economists start talking about how the government and the central banks have repealed the business cycle. The truth is, the laws of economics are constant and real, no matter how inconvenient they might be to politicians and bankers. This reality is setting in and the bills are coming due. In the meantime, countries that have no money have bailed out other countries that have no money except for the phony money created by …
UNITED STATES OF AMERICA, ATTENTION ! RON PAUL SAID THAT ISRAELI PEOPLE MUST DEFEND THEMSELVES AGAINST IRAN .WAKE UP JEWISH PEOPLE! RON PAUL FORGOT THAT JEWISH PEOPLE CREATED CAPITALISM IN AMERICA ! WAKE UP WALL STREET, WAKE UP HOLLYWOOD, WAKE TOP ELITE IN THE USA, WE HAVE SERIOUS FRUIT AND HE SPREADS FRUIT FLIES!
ATTENTION USA WE MUST DEFEND ISRAEL AGAINST FRUIT LIKE RON PAUL.
RON PAUL SHAME ON YOU! DUDE SPEND TIME WITH GRANDCHILDREN, PLAY GOLF, DUDE U HAVE NO ENERGY TO BE US PRESIDENT
@zombiefitnezz I think there was a bad inflation in the 70′s with gas going up and Nixon having to close the gold window because of all the money printing. Also a 1973-74 stock market crash. And Vietnam and Korean wars. So if that was good for the financial sector, then great, but it wasn’t good for the country.
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I believe that this is all part of a plan to destroy the dollar and then we will except a new form of currency called the amero and this will put us with mexico and canada being apart of the north east trade agreement. Read a good book called “how did things get so crazy in america” find it at amazon.com it puts alot of prospective on whats going on.
@zombiefitnezz Your a fucking retard… inflation, due to the printing of currency from nothing, transfers wealth from the middle class to the wealthy. The dollar has lost 96% of its buying power and also gold limits the amount of power politicians can sustain through endless spending. I’m guessing you voted for Obama and you collect welfare checks.
The US is not going back to the gold standard. Move on and stop beating this dead horse. It’s like a kid asking for ice cream after you told him no. STFU already about it. You’re only fear mongering now with your talk of a crashing dollar. The dollar is at the same level it was before the 2007 recession started. Nothing has changed. So long as we have a trade deficit of 3% of GDP, not really worrying about the dollar being too weak. Study some basic economics and get away from Mises.
VOTE *RON PAUL* FOR 1012 PRESIDENT!!!
BTW, politicians hate the gold standard because the gold standard results in deflation and depressions. Look at the business cycle data from 1871 to 1913. 11 recessions in 42 years with some recessions lasting as long as 5 years. Also, read up on the Gilded Age and how it was caused by deflation and the gold standard. Ron Paul’s policies serve to transfer wealth from the middle class to the wealthy. He does not understand deflation or inflation. He’s a fool.
This video is nonsense. From WW II until 1980, we had a very stable financial sector and reduced the national debt each year. Then Reagan came into office with his mantra of tax cuts and deregulation. Since that time we have had a financial crisis every 10 years and exploding deficits. Income tax receipts in 2000 are more than 10% higher than income tax receipts in 2010 yet the economy is 47% larger in 2010. The problem is Republican economic policies of deregulation and irresponsible tax cuts.
@JosephAlibinMuhammad I love macintoshes.
@JosephAlibinMuhammad You have been poor for 44 years? Hmmm. Telling. So you are poor because someone else was greedy and took what was your share? And you think that they should give back the wealth they have acquired because they took it from you by their greed? Do I have that summed up about right?
@SuperGuitarman69 Taxing super rich will not make jobs go away. To keep earning wealth, must keep running businesses even useless like kool aid & soda pop, neither of which I drink. Lie so many believe is if wealthy are given more money they will create more jobs. Why do profits continue at record levels while so many people have been put out of work? They refuse to green retrofit toxic industry despite their bilions, they refuse to create jobs with the wealth. Shame on you for tactic of insult.
@SuperGuitarman69 What type of apples I eat is not relevant to the discussion. Do you realize you said class warfare is made up and then you described an example of class warfare against the poor? You should follow your own advice about thinking before you speak. I have been poor 44 years and know very well warfare against the poor is a daily occurrence. Anyone who says it does not exist is a liar, as you proved yourself to be by saying it does not exist and them giving example of it. Peace out.
@JosephAlibinMuhammad You are biting the wrong apple. Could not be further from the truth. Class warfare is made up. There isn’t any. Wanna discuss the poor? Why do Democrats want the jobs to go away by taxing the real providers? Then villianize Wal-Mart when the policies they support raises inflation to a point where the little money the poor has they can’t afford anything? Then say Wal-Mart is evil? That is the only relief the poor has. Think before you speak my friend. Dont drink KoolAid
@SuperGuitarman69 Indeed, we need to address this entitlement the wealthy seem to think they have over the rest of us. It is time to tax the super wealthy and put the rest of America back to work. They make their super wealth off the labor and consumerism of the rest of us – they pay unfair wages compared to their profits, and they charge exploitative pricing to make all those incredible profits. They are anti-Christian and it is time to stand up to them and their rulership over the rest of us.
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@Loejyrrab In conclusion. I hope you read all of it. Because facts do not lie. You do not understand economics even the basics of economics. May I recommend Economics 101. A great book for the layman. You have been told a perspective of it. It is NOT a Republican perspective. It is a fact perspective. You are a drone. A case study for why we even have Dems in office. After Bush and his housing bubble that he shouldn’t have allowed I’m not sure what Republicans are going to do. Vote Dem? NOPE
@Loejyrrab Us Austrians were screaming about this the year they signed it into law. Clinton never even had to worry about the bubble (dot com ) bursting. He was going to be long gone. He tries to act like he caused a boom? Hardly. Taxes were too high and until we address entitlements we will never be wealthy again. The boom of tech stocks left him with false numbers. Surplus my ASS. Now to Obama. In his 1st year? Keynesian flop. He borrowed and spent 3.8 TRILLION DOLLARS. To save GOV jobs.
@Loejyrrab Clinton. The tax hike was a job killer. The dot com bubble masked it. FACT!!! Bush. Bush enjoyed a huge bubble with the dot com bubble early in his presidency as Clinton did. Then? Frank and Dodd co-opted the housing bill which Bush signed into law. BAD move. Now we had 2 bubbles. Dot com and housing. In 2006 the burst began. To save the banks? BAD MOVE. In came the bailouts. Massive printing of money and up goes the debt. So the +20% GDP was a lie. It was 2 bubbles. p7
@Loejyrrab who balanced the budget. His loss of both the house and senate in the mid terms saved his Presidency. Remember the “the era of big government is over” speech? That was forced upon him by Dick Morris. Who knew he was gone after 1 term if he didn’t race to the middle. Then? The dot com boom. There were millions spent and invested causing a huge influx of new revenue. Not because of government in spite of it. This caused a growth. It offset the tax hike from 35% to the 39% under P6
@Loejyrrab up to an individual to make the determination was it worth it? Well when Russia fell chasing us in the arms race I believe at that time it was a good thing. Bush Sr. he had the gulf war. To save us from 10 a gallon gas. We would have had Saddam running the Straight Of Hormuth. Not good. But the debt? I didn’t like. He allowed to many pet entitlements. Clinton came out with guns firing. But, he no longer contended with Russia and a relatively quite middle east. He also had Newt. P6
@Loejyrrab Carter raised taxes and increased the size of government. He put regulations on business and chased them off shore. Productivity went down. We were not in as much debt because of the tax hikes. But there was no productivity which makes a robust economy. Hence the gas shortages and him losing in a land slide to Reagan. Reagan slashed government, taxes, and waste. He in his second term was in a cold war with Russia. Our military build up was costly. Increased the deficit. So it is P5
@Loejyrrab Debt in (trillions) Ronald Reagan 1st term- 0.66 2nd- 1.04/ Bush Sr. 1term- 1.40 /Clinton 1st term 1.18 2nd term (only republican congress) 0.45 Bush jr. 1st term- 1.73 2nd term 2.63. Ok now lets take a look at the GDP numbers and I will explain economics to you. Lets start from Carter. GDP -3.3 Reagan 1st term- +11.3 2nd term +9.3 Bush Sr. +15.0 Clinton 1st term -0.7 2nd term -9.0 Bush jr 1st term +7.1 2nd term + 20.0. Now those are facts. So now let me explain. How this is. P3
@Loejyrrab I can give you real numbers on both sides of the aisle. But when people talk about the surplus in the Clinton years? As an Austrian, and understanding macro bubbles and the Fed’s involvement my eyes roll back in my head. When Bush was in, the bubble was deflating. But the housing boom was his enjoyment. Which he was against but like any politician he was enjoying the ride of the bubble. Same as Clinton. It burst during Bush’s presidency. Now here in part 3 I’m going to give you stats
@Loejyrrab The Republicans are bad. But the Democratic party has no business even having one elected official. If they could understand fiscal policy. Understand that you cannot print money out of thin air to pay for programs, then maybe. But they do not. They continue to put us in high gear to the collapse of the dollar, and the eventual fall of the country. This is happening. Krugman (idiot) knows this is happening. Yet we continue down the path. Why? They want America to fall. P1