Ron Paul Argues with Some Guy Over the Fed Reserve on CNBC

"Since the Fed has been in existence, the dollar has lost 97% of its value... The Federal Reserve is the creature that destroys value."

Ron Paul on CNBC's Kudlow & Company

 

Dosen't provide a solution
Just states the problem

 

Exactly, Ron Paul should be the next president and the fed.

 

The problem is the Fed and fiat currency backed by wind, the solutions are obvious and simple.

 

Fiat currency is a reality of life, a part of modern economic system of most nations. Dollar is losing value really fast, stock markets are falling, millions of baby boomers of the 60's generation are gonna start retiring soon, and would withdraw billions from their 401k's every month. The economic outlook is bleak. Put on your seat-belts and brace for the crash...





Its gonna be HISTORIC...

 

Fiat currency is simply not sustainable. What we are seeing is modern innovation and creativity in finding ways to extend it's usage.

But at the end of the day, fiat currency erodes productive gains, and is a sort of ponzi scheme. The bill will inevitably come due at some point.

I advise everyone to understand how ponzi schemes work. They are all around you, particularly most government programs are ponzi schemes. By understanding how they work, you can better understand how they fail, and insulate yourself from risk.

 

Buy gold and silver.

 

That's fine unless things get very bad. In which case, you want to hold some coin.

 

It's funny, I just started reading about ponzi schemes a week or two ago after watching an episode of American Greed on CNBC about Cybernet. That business was basically described as turning into a big ponzi scheme.

http://www.cybernetscam.com/

I can see the parallels, both are sort of robbing Peter to pay Paul with nothing but really hope or perhaps illusion backing the money flow.

 

Social Security is a ponzi scheme. many of these government trusts and funds are ponzi schemes.

Which is why the US borders are open, and there is a push for amnesty. Without millions of immigrant workers, paying SS, there is no way the system doesn't crash. It's scheduled to crash in 20 years, and the socialists want to add more entitlements, bureaucracy and socialized health care.

I really don't think they get it...

 

Or they are just more worried about being reelected.

If they can fool the public 'as it is proven time and time again is easy to do' it's smooth sailing for them

 

Good to see you GRIM. I was going to work myself up into a blathering storm of anger, by means of a reply, then decided, f*** 'em

Time's up on the political class.

 

I don't doubt that you are correct as usual, but why 20 years? Did you read that somewhere, or is it your estimation? Many people don't save any money at all. If they end it in 20 years, I wonder if they will give advanced notice or offer any kind of substitute.

 

That's my job!

 

Baby Boomers have started retiring. In 20 years, they will almost all be retired.

The GAO (Government Accountability Office) formerly led by David Walker (Comptroller General of the USA - America' accountant) did a fiscal wake up tour last year before he gave up the fight.

You can get more info here
http://www.gao.gov/special.pubs/longterm/wakeuptour.html

As far as saving, people are going to be S.O.L.

This is your advanced notice.

The substitute will be that people will not be able to retire at 65 and medicare will be cut back substantially.

The jig is up.

 

Gold is down over 10% in a week, largest drop in the price of gold since 1992