World Economy. RON PAUL on the Current Crisis. Sep 18.
Sep. 18, 2008. Ron Paul explains how misguided policies and actions by the Federal Reserve and the government led to the current financial crisis. Many who agree with me on a lot of other issues, do not understand my enthusiasm for gold and sound money or why I spend so much time studying and talking about monetary policy. Its true that I talk about money differently than most, but the fact is sound money offers many benefits. For example peace. Can sound money really bring about peace? Actually, it plays a big part in peaceful international relationships. Money based on commodities, rather than paper, is not subject to government manipulation, and is a key component to free and honest trade. History shows that if countries engage in trade with each other, their governments tend to find ways to get along for the same reason you do not kill your customers at your place of business, even if they occasionally annoy you. If someone outright cheats you, however, you may engage in war by taking them to court, for example, and the relationship will sour. Governments and central banks with unfettered power to manipulate currency also have the ability to cheat their creditors. One way they do this is to simply create enough currency to pay off debts. This devalues the currency and cheats the recipient out of what they are owed. It would not be fair if you watered down your product the way our government waters down its currency, so it is not hard to understand, in these simplified …
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Quick and easy way to purchase silver: silversnowball.com Jim Rogers discusses commodities, the debt crisis in the UK, and how Obama and his economic team will lead America into another financial crisis
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fucking sick of america . the one guy in congress who has common sense and they call him a crack. dont give in to a global economy its only the beginning.
THE WHOLE WORLD works produces what they can Bu have to sell all their goods for the paper money I print at will WHO IS THE MASTER? the real MAD financial state of this world the Reason ALL countries owe so much to so few this is Not demogracy plutogracy or fuckogracy just stubidogracy out of a MADHOUSE stuffed down ppl’s throat as Free enterprise u work produce i print Billions who is the idiot WAKE UP RON PAUL IS REAL he is honest he Makes sense or let me print money n u produce its a JOKE
2: in the useless paper money fed prints same time fed is loaning the us gov paper money based on FA us gov pays back in gold its a sick joke n if ppl are too stubid to understand this then GL to the fed n its directors can u produce so much wealth n sell it all in paper money fed prints at will? out of thin air? the daylight robery of all times like i print money n u Have to sell all u produce in the money i print at will ARE PPL 2 STUBID TO UNDERSTAND THE MORE U WORK THE RICHER THEY BECOME
capitalism is : countries work produce n sell ALL they produce in the current international currency the $US few induviduals have through deceprion intimitration bribery n murder have got the “right” to print money at will without control from No one E I the US produces so much they sell it all in $ u think u r rich? u work hard make a million so what? they can print few more billions trillions even can u imagine this? i can print paper money based on FA that U have to sell all u produce
So what? – these are inseparably connected.
capitalism is dead, and has been for around 100 years. Blaming today’s situation on capitalism shows a lack of understand of just what kind of market we have. With massive government regulations and manipulation of credit and money by the fed, we have something more relating to a managed economy.
The second point I’d like to make is this, greed runs our every act as humans. What is it that you do in your life that you feel you will not have a net benefit from?feeling good included?
You right Ron.
Our tax money pays the government,
The government bail them out,
They fuck us up ,
What a trade, God bless us.
Just because something affects society doesn’t classify it as a “social issue.” Every issue affects society, so by that logic every issue is a “social issue” and why even put “social” in there, just call them “issues.”
lol fuck semantics anyways.
Capitalism may be greed based, but that’s because we’re greedy by nature, civilized or not. Also, calling people idiots for not bowing to your beliefs does nothing to convince anybody.
If you think the economic system doesn’t effect society you haven’t been paying very close attention to the situation in ‘merica. If it is not an inherently social (as in opposite of anti-social) system why base a society around it?
Not only has this failing economic system acquired the status as the society’s modus operandi it is practically the unquestionable philosophy. The point is that Ron Paul wants a state based on freedom for corporations… read between the lines you idiots.
Capitalism is an economic system, not a social system.
Ron Paul, you have some good points but you still don’t get that capitalism is not a social system that works. It is a greed based system, which is in direct opposition to civilized society! It is unfortunate that it is going to take so much debt and so chaos before people are going to accept that capitalism is dead.
Ron Paul: How can CAPITALISTS base so much manufacture in a communist country and expect that economic system not to effect us? They are forcing socialism, or worse.
I am currently hiring hard workers
That will receive a well paying job
Anyone can join.
Then check out my channel and see for
yourself.
Together we can over come this economical crisis.
US make world economical crises. Only way to save countries Economy is to buy Euro and sell all the US Dollar reserve in Central Bank.
Chemical weapon(illegal White Phosphorus) make by US and used by Israel doing War crime and Genocide. This is how power talks and how US and Israel dominated the whole world economical crises and exercise Chemical weapon in Gaza like the new Hitler of world named US + Israel Govt. Only way to defend humanity is to weaken US and Israeli economy.
“where these countries can never pay us back. Now the fed has done the same thing to the U.S., yet bails the rich corporations out after supposedly mismanagement.”
America has borrowed nearly everything it “owns” from foreigners. America invented a worthless paper dollar, propagated it throughout the world as the reserve currency, and then borrowed out its ass so it could feel fucking “wealthy”.
Game over.
Globalfirm on myspace
To Americans:
The Federal Reserve says “foreign currency is legal tender in the US”. Trade in every dollar you own! The US government lowered interest rates in Bank accounts to 0%. Yet they make prices skyrocket with inflation. There is no obligation as an American citizen to play this game. Use foreign currency on US soil! America produces no money suitable for our uses.
Jesse Ventura and/or Ron Paul – 2012
Anyone who listens…
Listens to Ron Paul.
Shall we call him Buddha Paul?
It’s really strange that we’ve had economic hitmen go all over the world and indebt every country possible to us, where these countries can never pay us back. Now the fed has done the same thing to the U.S., yet bails the rich corporations out after supposedly mismanagement. I was just wondering how ISRAEL is doing economically during all this strife. Can anyone tell me? I’m curious…
Too bad nobody listened to this dude. Now we gonna pay dearly.
Alphadux, Ron Paul is very logical and his supporters see his logic. What lunatic followers? People vote for him because HE advocates the orginal intent of the Constitution. He wants to get rid of the unconstitutional like the Federal Reserve Act and the income tax. He wants to stop spending money overseas.
Ron Paul is incredible
Ron Paul 12′!!!!
Re-establish the Constitution. Get out of Debt. Get out of War. Get out of the UN. Abolish the Fed. Bring back the Green-Back. Vote for Chuck Baldwin. Thank-you Ron Paul.
@takerdust
Just get a bow tie and you’ll be good to go.
All these countries are DEMOCRATIC. Letting people vote and they ALWAYS vote for WELFARE SOCIALISM.
Thats the flaw with democracy. It always cuts it’s own throat.
Solution = Ban people that receive any government welfare from voting. It breaks the corrupt cycle.
Our system today looks and acts nothing like capitalism. This all started cause Marx couldnt tell the difference from capitalism and mercantilism. What was the point in Adam Smith making all those distinctions, and then being called the father of capitalism, if people ignore him and say everything that he said was wrong about mercantilism is capitalism? Marx made this mistake yet he made hair splitting distinctions between other systems watch?v=SYdJflb5ycA
U still havent pointed out any holes.Little history lesson 4 u. In the time of A Smith the system was mercantilism.Theory was a combination of big business & government combined to maximise production(like fascism or corporatism)Smith complained and said a profit & loss system would be better.A system of competition where the entrepreneur that best served the public would succeed,Those that didnt would fail & release their resources.This system allowed US to become 50% of world GDP v=SYdJflb5ycA
@NicosMind – You keep ragging on big gov. As if it were opposed to big business. It is big business damit, and we may not like it, but we voted it in place. As George Carlin pointed out, its the one we deserve. It is your precious capitalism at work. Power is EVERYTHING. It is convenient to flag wave, when all is well, but now you want to deny the underbelly of your great system. It stinks and it is failing. The “holes” I am pointing out are all around you. Get a grip…own it.
(contin) Community Reinvestment Act, Equal Credit Opportunity Act, ACORN making business impossible for bankers unless they lent out billions, G Bush getting the FHA to remove downpayments, Pro-Ownership tax code, Sarbanes-Oxley, The Greenspan Put(bailing out all the top dogs) and media telling everyone what a great “investment” houses were. All government. Nothing to do with capitalism!!
(Continue) What caused the crisis was, Fannie, Freddie, Ginnie & Federal Housing Administration(FHA)buying up mortgages with government guarantees(Government Sponsored Entities GSEs)The Federal reserve supplying cheap credit, the fuel for the fire in the form of record low interest rates, Rating agencies given government cartel and honouring that by approving everything they said, Department of Housing & Urban Development,
Right heres the only thing im gonna say thats gonna come close to “character assassination”. Are you crazy? Seriously if you read my comments i only deal with what you said, not who you are!
Your comments remind me of this watch?v=5o4qyKM0hWM which sounds just like you.
And what holes have you pointed out? The right REG was there it was just ignored. Everything that was done was illegal or with gov guarantees! (continued)
@NicosMind – okay, if you peruse thru my comments you won’t find any character assasination coming from my comments. You don’t know anything about me, or my background, so don’t pretend to. Your assumption based on Mr. Arthur Laffer’s theory is less than 50 years old. Again, I don’t respect this theory. It says if you tax too far, you destroy productivity. BF deal. What a bright spark! How awe inspiring!
The premise upon which this is built is what is broken. You want to bring back a economic model that never existed and convince us that gov. intervention via taxation and yes, regulation is the problem. I quite simply pointed out how full of holes those ideas are. Your precious free market ideas will soon be rotting bones in the hillside of history. Stay tuned for the collapse.
@NicosMind Amen, the little guys always get the shaft when regulations are passed because we don’t have armies of compliance officers and corporate lawyers. It’s funny because with the price of gas during the peak you’d think someone would find a way to free us of foreign oil. But for a small business like mines the cost of EPA regulation was insane and the cost we’d have to pass on the consumer would have been as well. (assuming they had the money to purchase it in the first place).
@pjamesbda No, I’m sure he lives in reality, you’re the one living in a text book as the mainstream economic wizards are nothing but academics. Yeah remove regulation, all it does is put the little guys out of business while the fat cats you seem to hate so much get to continue on because they can afford to comply. You know nothing of that because you’re all talk.
@pjamesbda Seriously what the fuck does this video have to do with reality yet again? My first comment mentioned the Laffer curve and you came off with regulations, I pass on information and proof about the Laffer curve and regulations and both your comments have nothing to do with my replies.
Read David Osterfeld’s Marxism, Method and Merchantism to learn the difference between capitalism and merchantism/corporatism. Seriously your points arent applicable so why hit reply?
@pjamesbda So why is the Laffer curve ridiculous? Your answer has nothing to do with the Laffer curve, business or reality! Do you have any idea why Americans once had the highest wages in the world, produced the highest quality goods in the world at the cheapest prices, and why theyve lost two out of that three(highest quality & cheapest prices)??
Higher tax means business has less to invest, and less to pay their workers. This pushes wages down and costs up, also slows business growth!
@NicosMind – ok mindfart…I’ve ingored this ridiculous Laffer curve crap because it would force me to make a similar one: that is, what if we reduced wages, demanded higher productivity and increased the cost of goods… how does this give a man incentive to work harder? Well, if you are a proponent of this Laffer curve, you would have to conclude IT DOESN’T. Right? Well, WTF it works both ways doesn’t it? Imagine that.
This is a CLASS WAR! Not a F’in game to increase the GDP for fat aristocrats. So as I said, fine, come down on the side of managment if you wish, but it proves one of two things; you are one, or you are the dupe of one. BTW I will watch your suggested videos, but be sure you see this one:
watch?v=AISu9ho1FfA&playnext_from=TL&videos=MUipfjjkQyM
Heres some proof off the Laffer curve. When Clinton came to power in 07 he dropped Capital gains tax to 20% and George Bush dropped the tax to 14% and in both cases the government revenue went up. In the 80′s when it was increased to 28% the revenue went DOWN!
watch?v=491_5WxfcgI
Now think of all the jobs that would be destroyed by an increase in tax. We need to produce our way out of recession, not tax or spend!!
@pjamesbda I can tell you know nothing and are speaking from a complete lack of experience and knowledge. First of all i mentioned the Laffer curve and nothing to do about regulation.
You need to read Meltdown by Tom Woods. The crisis happened cause of government guarantees not lack of regulation. Plus all the regulation nowadays is designed to keep out competition and let the corporations have a free for all in the markets. watch?v=74HXUV98848
@NicosMind – yeh, got it. Remove regulation, and taxation, get rid of any governement oversight. Man, hows that worked out for us? Last time I checked John Q got butt f’d for it. You must live in an Economics 101 textbook. Get real.
@pjamesbda Havent you heard of the laffer curve? Its the lowering of taxes that creates more government revenue
Wait a minute…if taxing isn’t at least a part of the short term solution, tell us how we can expect failing GDP to cover these short falls. Duh…its all very good to criticise efforts to make peole who profit on a consistent basis from the suffering of the economy as a whole actually pay to sustain it.
Fine…let these fat F’rs off the hook and the class disparity will deepen until he finds himself on a spit over a fire. You guys better wise up or they will storm the bastille again.
‘It’s very very unfortunate what they’ve done to the UK’ I want to cry
((
ha I wish I had Rogers charisma
Pretty old! I saw this first back in Nov/Dec 2009. However Jim Roger predicted the short selling in the Euro almost to the hour and the sovereign debt issues are still very current.
When was the original broadcast date for this video?