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Calamity to come - Ron Paul statement in congress
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<blockquote data-quote="djinwa" data-source="post: 683259" data-attributes="member: 8265"><p>Interesting that you post from Alberta. My sister from there borrowed my Ron Paul book (The Revolution, A Manifesto), and I just got it back. How's Canada doing?</p><p></p><p>This topic came up at work and a young guy said the debt doesn't matter - it will just go away and we'll start over. If the debt didn't matter, I asked why the gov't couldn't give us each a million dollars. He then said if they did, then the money wouldn't be worth as much. Bingo! If money is worth less, you need more of it to buy things, meaning higher prices - price inflation. And thus a dollar in 1913 when the Federal Reserve (central bank) was created, is now worth only 5 cents.</p><p></p><p>So the way the game is played, the central bank creates new money, and the first to get it (banks, gov't bailouts), get to spend it before it hits the general economy and causes higher prices.</p><p></p><p>Found this video yesterday of an interesting debate bringing up some of these points (5 parts)</p><p></p><p><a href="http://www.youtube.com/watch?v=zoK1uWmCXVM" target="_blank">http://www.youtube.com/watch?v=zoK1uWmCXVM</a></p></blockquote><p></p>
[QUOTE="djinwa, post: 683259, member: 8265"] Interesting that you post from Alberta. My sister from there borrowed my Ron Paul book (The Revolution, A Manifesto), and I just got it back. How's Canada doing? This topic came up at work and a young guy said the debt doesn't matter - it will just go away and we'll start over. If the debt didn't matter, I asked why the gov't couldn't give us each a million dollars. He then said if they did, then the money wouldn't be worth as much. Bingo! If money is worth less, you need more of it to buy things, meaning higher prices - price inflation. And thus a dollar in 1913 when the Federal Reserve (central bank) was created, is now worth only 5 cents. So the way the game is played, the central bank creates new money, and the first to get it (banks, gov't bailouts), get to spend it before it hits the general economy and causes higher prices. Found this video yesterday of an interesting debate bringing up some of these points (5 parts) [url=http://www.youtube.com/watch?v=zoK1uWmCXVM]http://www.youtube.com/watch?v=zoK1uWmCXVM[/url] [/QUOTE]
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Calamity to come - Ron Paul statement in congress
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