Tuesday, November 29, 2011

Ron Paul on returning to the gold standard


 "We know what to do - we did it once after the Civil War period, we went from a paper standard back to the gold standard, and the event wasn't that dramatic. But today the big problem is that both the conservatives and liberals have an big apetite for big government for different reasons, therefore they need the Fed to tie them over and monetize the debt. So if you don't get rid of that appetite it's going to be more difficult, but the transition isn't that difficult. You have to get your house in order; you have to balance the budget, you have to not run up debt, and you have to promise not to print any more money... I would like to have a transition period and just legalize gold money, gold and silver as legal tender, and work our way back... We want to legalize the use of gold and silver as the constitution dictates, rather than punishing the people who try to do that... I am quite convinced that the system we have will not be maintained - that's what these last 4 years was all about, and that's what the turmoil in Europe is all about. The question is are they going to move toward a constitutional form of money. or are we going to go another step further into international money - instead of having an international gold standard based on the market, are we going to go toward a UN, IMF standard where they are going to control with the use of force another fiat standard. I consider that a very, very dangerous move."
Read the rest at Zero Hedge (video too)

Ron Paul Explains His Plan For "Monetary Freedom" And Returning To The Gold Standard

UPDATE:


Why Do Young Voters Love Ron Paul?
(h/t Keven Fathi via email)

It's not because they're potheads. It's because they're sick of America's militaristic misadventures.

7 comments:

Septeus7 said...

The "Crime of 73" wasn't very dramatic? It caused the Long Depression. It is official. The Right Libertarians are nothing but racist NeoConfederates or Neo Nazis.

See the writings of thier hero Murray Rothbard:

http://www.lewrockwell.com/rothbard/ir/Ch75.html

http://www.lewrockwell.com/rothbard/ir/Ch5.html

http://www.lewrockwell.com/rothbard/rothbard31.html

http://socialdemocracy21stcentury.blogspot.com/2011/10/rothbard-on-torture.html

Mises on how fascism saved Europe:

“It cannot be denied that Fascism and similar movements aiming at the establishment of dictatorships are full of the best intentions and that their intervention has, for the moment, saved European civilization. The merit that Fascism has thereby won for itself will live on eternally in history.”

GLH said...

I am amazed that a person with Ron Paul's views can be so popular.

googleheim said...

It all looks so great in hindsight.

The last 4 years are Obama's fault and not Bush's.

Bush blew up the economy because he knew that Obama would win and because the Bush family do not like McCain.

Clinton blew up the economy under the rouse of balancing the budget.


Our MMT Goggles don't lie.

Anonymous said...

Septeus. And Mises continues: "But though its policy has brought salvation for the moment, it is not of the kind which could promise continued success. Fascism was an emergency makeshift. To view it as something more would be a fatal error." Gee wonder why you left that out??

Anonymous said...

Or Septeus, to point out more of your out of context BS, here's more Mises on fascism:

"So much for the domestic policy of Fascism. That its foreign policy, based as it is on the avowed principle of force in international relations, cannot fail to give rise to an endless series of wars that must destroy all of modern civilization requires no further discussion."

Gee, somehow you missed that on the same page. Nice...

Septeus7 said...

"But though its policy has brought salvation for the moment, it is not of the kind which could promise continued success. Fascism was an emergency makeshift. To view it as something more would be a fatal error." Gee wonder why you left that out??

I left it out for purposes of space as this comment format limits response length.

What salvation of any type did the fascist bring to Europe?

How could anyone other than fascist believe such vile nonsense?

The fascist certainly didn't view themselves as makeshift. It is very clear that they thought of a 1000 year reich and fascism is an ontological view of man which is most certainly not something that was makeshift because it remains with us today.

Just look at the fascist "Technocratic" coup in Greece against the people's sovereignty. The only difference between today's fascist and yesteryear's fascist is that the "natural order" they speak is based on class and "free market" processes rather than national and racial identity and you have to be naive to not to notice.

The ontology of fascism shares the authoritarian ideas that the essays by Murray Rothbard express.

Racialism (which Mises also shared), the classism (today's more popular version "I'm just naturally better than you so I get more" tribalism), the glorification of a permanent"natural order" among men, the emphasis on "law and order" by the use of police violence and torture, and the attack on the ideal of any Egalitarianism against the "natural order" and progress itself.

Septeus7 said...

"So much for the domestic policy of Fascism. That its foreign policy, based as it is on the avowed principle of force in international relations, cannot fail to give rise to an endless series of wars that must destroy all of modern civilization requires no further discussion."

I'm sorry but all this quote shows is that von Mises didn't know anything about political economy. The domestic and foreign policy aren't disconnected.

One results from the other. Fascism represents the results of austerity. Austerity cannot be enforced on a free population so a police state is the necessary the economic regime of "Austrian School" liquidation on behalf of the creditor class.

The nature of a police state requires the cannibalization of the factors of production by the diversion of needed resources by the State (see the military build up of Germany)

But this must create political tension as living standards will drop as a result so external threats are scapegoated. First domestic scapegoats such Jews, Roma, Homosexuals, and other minorities. But Fascism cannot sustain itself politically with such minor groups. It must by its economic nature move the "enemies" ever further outward i.e. foreign war.