
Much to my dismay, the Ron Paul blimp appears to be achieving its mission of corrupting economics in the minds of the youth. Its latest victim? USA Today, which is enthralled by my YouTube debates with Ron like a kitten staring at a shiny wristwatch. Sadly, USA Today did not quote my prior blog entry explaining why Ron’s wrong.
Now that Ron’s got everyone believing in carrying gold in their wallet, I’m receiving e-mails like this one:
Mr. Bernanke: I am so disappointed over the Fed dropping interest rates another quarter point. I am retired and have a large portion of my money in CD’s that have been paying me over 5%. Now, because you are responding to pressure from the idiots who got in big trouble with sub-prime mortgage lending, I have to suffer. I am to old to play the stock market anymore and you are hurting me financially. Yours, Mortimer Smith
I felt the same way as this emailer when I saw old Greenspan running things. I swore I’d fix his mess and show emotional indifference toward the fools who bought ugly houses. However, as I’ve learned from my monthly bridge games with the heads of the big banks, you’ve got to bet capital to be secure.
To communicate this message, I’ve decided we need something to supplement our awesome Consumer Information web page, so we’re launching a Ben Bernanke blimp fully equipped with a money press. It will fly all over the nation, especially over highly leveraged housing areas, and print and drop money. This will be a sign to the American people, that capital is something that you have to reach out and grab, not something you greedily hold onto. Besides, just think how dangerous it would be to drop gold from the sky.







mike:
clever
12/12/2007 8:17 PMRoman:
It is so refreshing that so many are waking up to how monetary policy effects our country & our lives. The real issue is that there are pro's & con's to both positions. The Fed allows for quick economic growth since we have a reserve currency status based on fiat. This allows for quick bailout when industry gets in trouble. However this also creates huge bubbles that will burst and allows for complete depletion of the value of the monetary system. All paper money eventually deflates to zero.
The gold standard allows for our money to actually grow in value. Also it is an additional power point for the people since historically citizens can call the government on abuse by handing in their gold/silver certificates for the actual metal. The down fall is that there are no bailouts, the economy only grows as more actual value is created. Also businesses and industries who have lobbied for money would not be able to be subsidized without increased taxation. This would actually be a good means for checks and balance.
I think at the very least we should allow for gold and silver backed money to compete with fiat. This is Ron Paul's position. I support this and I support Ron Paul!
12/14/2007 6:23 PM