Wednesday, January 30, 2008

Ron Paul And The Fight To Save The U.S. Dollar

More than any other presidential candidate, Ron Paul stresses the need for the U.S. to save the dollar. Inflation is running rampant and the Fed, along with much of the government, doesn’t seem to care. The emergency meeting of the Fed to lower rates last week, along with the $150 billion economic stimulus package which passed the House in a landslide, are the latest examples of that. Today the Fed is expected to announce yet another rate cut. When will it stop, and when it does stop, what will the state of the U.S. dollar be?

According to Ron Paul’s campaign website, “Today, the federal government burdens us with one of the most dangerous taxes it can impose—the inflation tax. When the federal government finds that it cannot afford its out-of-control spending, and is unwilling to directly tax the public, it resorts simply to creating the money out of thin air.

Inflating the money supply is the easiest form of financing the government. The Federal Reserve, an unelected and unaccountable private organization, pumps more dollars into the economy whenever it chooses. Because the public is forced to accept these bills, the Fed essentially gets away with legally counterfeiting. We cannot possibly expect the government to control spending when it has a blank checkbook.”

Watching the government--and the Fed in particular--during the last month, it seems Ron Paul is right on in his assessment of how things are being run. In my opinion, it is a shame that his ideas have not gained more traction among U.S. voters. Ron Paul only won 3 percent of the vote in Florida's Republican primary last night, and really hasn’t shown well in any of the primaries. Until the citizens of this country stand up to the monetary decisions being made by their government nothing will change.

Sadly, right now what these officials see is the majority of U.S. citizens demanding further rate cuts and the further devaluation of the dollar. It makes sense, though, as America is the land of debtors; the more debt people have (in U.S. dollars), the more they cheer the dollar's decline. For the minority of Americans who are savers rather than spenders, they unfortunately have been and probably will continue to be forgotten and out of luck.

Unless by some miracle Americans get their act together and see that their futures, along with the futures of their children, are at stake here, the dollar will continue its monumental slide. For the savers out there, here are a few pieces of advice:

1) Start paying attention to the monetary positions of your politicians

2) Help make others aware of the issue

3) Get out of dollar holdings. For more info on potential ideas check out our article: Decline of the Dollar Spurs Diversification


Anonymous said...

As far as the dollar, no other candidate has any plans to deal with what is really going on.

Anonymous said...

Thank you for this great post...I wish more people actually understood our monetary policy...if people started to understand I think there might be a revolution.

brettrix said...

Ron Paul if nothing else, has made me lots of money. When i first started following him in July, i bought some gold at $680 per oz - now it is over $900!!!
i have already liquidated some of it and sent it to his campaign... too bad i can only give $2300!

Anonymous said...

It is criminal that the only candidate with a real knowledge of the economy is snubbed by the main stream media. The other candidates snickered during the debates when Ron Paul talked about the dangerous economic situation we were all in and about to face. First there were eleven, now there are four. Let's see them ignore him now. He may not win, I hope he does, but he sure has changed how all of the candidates talk, even the Democrats. How many times did you hear the words constitution, freedom, peace or non-intervention before Ron Paul stood up and spoke? The freedom movement has just begun.

Anonymous said...

Great article but I have to point out that Paul has been doing a lot better than you point out. Grabbing second in Nevada, most likely first in Louisiana if they would count all the votes and is expected to do very well in Maine. Keep in mind that while Paul only did 3.2% of the vote in Flordia that was still over 60,000 people who voted for him. Pretty good for someone who didn't really try to win Florida and of course doesn't have a chance according to the MSM. Slow and steady but Paul will be in this till the end and the people have given him the money to do so. Ron Paul 2008!