Ron Paul on the Federal Reserve

[liveonearth]

People get alarmed about Ron Paul's platform because it includes some quite extreme measures, given our current situation. Here he addresses how he would go about changing our money systems, and acknowledges the risk inherent in going against the monetary powers that be, who are much invested in the status quo. This man is not crazy as people imagine him to be-- based on their vision of his methods.

Comments

[gavin6942.livejournal.com]

I don't take issue with any of this, though I must confess it was like 80% over my head.

[liveonearth.livejournal.com]

The Libertarians have been talking about it for a long long time. Our Fed can print more money whenever they need it, which causes inflation for the rest of us who aren't able to print our own paper money. Ending this practice and transition toward a "hard money" economy in which things of real value (gold, silver) are used in exchange would eliminate our government's ability to fund itself this way. Lots would change. I don't know if anyone can really predict what would happen, but there is such a giganitic international financial organization opposed to it that there would be bloodshed should we even get close to making such a change.

[gavin6942.livejournal.com]

Well, I understand that part. That's my #1 complaint about Abraham Lincoln. And then, in the 1970s, we didn't even allow foreign economies to trade THEIR gold for our dollars. So I understand the inflation bit.

I just didn't understand what was being said, because it seemed very abstract.