Wednesday, July 30, 2008

Ron Paul on neo-con economics

The Fed is the government's Great Provider, and what it provides is a tree from which government spenders can pick off the funds they need without bothering to increase the heist taken through the tax collection system.

This method of providing, also known as inflation, appeals to statists of all stripes. For generations the left has used it to help fund welfare programs, combining it with their soak-the-rich tax agenda. But the right has caught on, too. Neo-cons find they can rhapsodize about limited government and lower taxes while using inflation to bolster foreign adventures and a domestic police state.

As Ron Paul writes:
The fiat monetary policy we now follow is the most significant factor contributing to our economic peril, and it is central to the neo-con agenda. As we hear new calls to empower the Federal Reserve Board, we should be aware that underlying all neo-conservative policies is the idea of monetary inflation. Inflation is the technique used to pay for the regulatory-state and the costs of policing the world.

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