Last December, when I officially declared Ron Paul to be a crackpot as far as I'm concerned, I found a chorus of animated naysayers who defended Mr. Paul on a number of grounds. As I think I'm on slightly more solid ground with regard to my economic savvy, but still not enough to brag, now is perhaps a good time to second guess what we were saying then.
My biggest run-in was with a cat named John Reading, who declared me an idiot and the Fed as counterfeiters.
The IRS is an extortion racket. The FED is a counterfeiting racket. The Selective Service is a slavery racket.
1. Money is not neutral. It's value depends upon its quantity.
2. Deflation does not need to be in check. There is nothing wrong with money growing in value.
3. Savings are encouraged by deflation because the saved money will have greater purchasing power in the future. Saving does not destroy liquidity or lock up cash. The savings are the basis of investing.
4. That I do not discuss something with you does not mean that I do not understand it and am "simplistic". You are running out of logic and turning to insults again.I have already explained the clear and present danger of counterfeiting. It is a form of stealing, as any child knows.
I find you to be both ignorant and insulting, so I will let you have the last word. I'm done. I hope some of your readers will check out Austrian economics.
So are people lining up to ask Ron Paul for advice? Is there anything at all he was correct about with regard to our economic situation? I think he has gone to hide in a corner, and people are breathing a sigh of relief that he's not the GOP's guy. Not that this is any great comfort. But why not pile on Ron Paul?
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