The great Ron Paul interviewed by Fox Business (hat tip Lew Rockwell Blog)
The untaper says Dr. Paul is a "bad sign" and that the "Fed is really worried about the economy", despite the "deception out there that everything is doing good". But "markets like it".
In view of rising markets, Dr. Paul further asks why does the Fed have "to punish the elderly who save money?"
Asked about what to expect from Bernanke's replacement Janet Yellen, Dr Paul's response "Just prepare for the destruction of the US dollar and crash of the bond market one day" (1:48)
He says that the "bond bubble is already weakening" and that interest rates will go up, the dollar is going to weaken, prices are going up and standard of living is going down.
Dr. Paul also says that the "worse political problem" is the growing "discrepancy between the poor and the middle class"
Asked about housing as beneficiary of Fed Policies, Dr. Paul responds, "as long as the interest rates are artificial I think you are going to get malinvestments misdirected investments and people are going to make mistakes and you don’t when they are until the correction has to come"
It's not all bad news though, Dr. Paul is optimistic over the long term: "I think there is a lot to be optimistic about on the long run, but on the short run I think we are gonna have to go through some tough times"
1 comment:
Regional governance will arise out of the failure of nation investment as well as out of the collapse of the US Dollar and the Rise of the Petro Yuan
Deviant Investor provides the Bill Fleckenstein quote Money-printing cannot solve problems. It doesn’t really give us much gross domestic product growth, as we have seen. It hasn’t really helped on the employment front either, as job growth is meager (of course, it is also hampered by other government policies). What money-printing has accomplished is to push the stock market high enough to cause people to once again become delusional in their expectations” ... and Deviant Investor relates To the extent we rely upon the fantasies of ever-increasing debt, money printing, and credit bubbles, we are vulnerable to financial collapses.
Nation Investment, EFA, is now peaking. Yet out of a soon coming Financial Armageddon, a global credit bust and worldwide financial system breakdown, foretold in Bible Prophecy of Revelation 13:3-4. regional governance will rise as leaders meet in summits to renounce national sovereignty and pool sovereignty regionally, for regional security, stability, security and sustainability.
Zero Hedge reports Canadian Billionaire Investor Ned Goodman in video report relates The dollar is about to be dethroned as the world’s de facto currency. The President and CEO of US $ 9.6 billion Dundee Capital markets sees the end of the US dollar as the world’s reserve currency with the rise of the Petro Yuan, as China is replacing the USD with oil being traded in the Renminbi, that is the RMB, or Yuan, CYB. Dan Collins in Financial Sense writes Rise of the PetroYuan. No more King Dollar.
US Dollar hegemony accelerated when massive money printing took place after 2001. As the U.S. government began buying its own bonds with money it printed to keep interest rates low for the domestic market, it dropped the bond yields of countries like Saudi Arabia and China, reinforcing the petro-dollar as a means of global growth and trade.
Now, history is being written in the East, and the petro-yuan will be a driving factor in the rise of the king of the east, who presented in Bible prophecy, will come with a 200 million man army to the Battle of Armageddon.
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