Friday, May 7, 2010

Ron Paul on the Greek Riots

Monetary theory is boring to most people, but when the world gets it wrong, as it has, the results make headlines. What we're seeing, says Ron Paul, is the inevitable currency crisis following the financial crisis. The fiat money producers of the world have solved the financial problems with counterfeit money - i.e., with money created out of thin air, as any private counterfeiter would do. Why are so many people surprised that it hasn't worked? The DJIA is down nearly 400 points the last few days. The dollar remains strong, but only against other counterfeited currencies. Against gold, it's dropping sharply.