Posts tagged gold standard

Jim Rickards: The Demise Of The U.S. Dollar (And Mutualy Assured Financial Destruction) Video

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Source: http://www.againstcronycapitalism.org

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Jim Rickards: The Demise Of The U.S. Dollar

(And Mutualy Assured Financial Destruction) Video

 

petrodollar752

 

It won’t happen tomorrow but slowly but surely the world is moving from dollars. The petrodollar system which has been key to the world economy over the last 40 years is eroding. More and more country to country deals are being done in currencies other than the dollar. The economic world as we have known it, after Bretton Woods in the Cold War Era, the post Cold War era, and the post 9-11 era is fundamentally shifting.  The dollar is not what it once was. It is no longer “almighty” and one should be prepared.

People have been predicting the death of the dollar for quite a while now, but many falsely believe that because hyperinflation hasn’t taken hold (there’s plenty of inflation though despite what we are told) we must be out of the woods. This would be a foolish assumption.

Since 2008 particularly I have watched the power of the dollar erode steadily. Countries are figuring out how to unwind their dollar positions without causing panic and killing the value of their dollar denominated assets. In order to unload dollar denominated assets and debt there has to be a willing buyer. Moving too quickly is suicide, but many “international actors” think not moving at all is also.

No one wants to get stuck holding the bag of dollars when things go south. But if things go bad (for the dollar) slowly the theory is an orderly less disruptive liquidation can occur. This will take, and has taken years. But it’s happening.

 

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Image credit: http://www.againstcronycapitalism.org


Nick Sorrentino
About Nick Sorrentino

Nick Sorrentino is the co-founder and editor of AgainstCronyCapitalism.org. A political and communications consultant with clients across the political spectrum, he lives just outside of Washington DC where he can keep an eye on Leviathan.

The Economic Crisis On Our Doorstep

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The Economic Crisis On Our Doorstep

 

11-11-2013 9-43-06 PM

 

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Published by Libertarianism.org

About:

Dr. Ron Paul was formerly the U.S. Representative for Texas’s 14th congressional district. He has also been a three-time candidate for President of the United States; as a Libertarian in 1988 and as a Republican in 2008 and 2012.

Paul speaks at a meeting of the Economic Club of Detroit in 1988. He warns of a coming economic crisis, which he claims is the end result of the government’s fiscal and monetary programs.

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Again, Ron Paul had it right and told all willing to listen regarding the upcoming economic crisis.

 

 

Ron Paul: America has already gone over the fiscal cliff

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Source: http://rt.com

Ron Paul: America has already gone over the fiscal cliff

Former Republican presidential candidate, Representative Ron Paul (T.J. Kirkpatrick/Getty Images/AFP)

US President Barack Obama demanded from Congress immediate action to prevent America from falling of a so-called fiscal cliff, but Rep. Ron Paul (R-Texas) says it might be too late to keep the country afloat.

Speaking with Bloomberg Television on Thursday, the lawmaker who ran against Pres. Obama during the last two elections said he expects that America’s financial woes are beyond repair.

“We’re so far gone,” said the congressman, who will retire from the Hill this year after serving 12 terms in the House. “We’re over the cliff. We cannot get enough people in Congress in the next 5 to 10 years who will do the wise things. We have to prepare for having already fallen off the fiscal cliff.”

On the campaign trail leading up to the Nov. 6, 2012 election, Rep. Paul proposed an array of ideas he said would save the country from economic disaster, including returning to a gold standard and abolishing the Federal Reserve, America’s central bank. On his part, Pres. Obama vowed to keep the company in tact if elected to a second term, and Friday told reporters at the White House that he expects Congress to come to his side and do what’s right to prevent what Rep. Paul says is inevitable now.

(more…)

Ron Paul has crazy economic ideas

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Source: http://www.dailypaul.com

By mindwalker55

Show this post to anyone who thinks Ron Paul has crazy economic ideas

Ron Paul’s understanding of the economy is a matter of public record.

In 1983 he predicted the 1987 recession.

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http://www.youtube.com/watch?v=9FmlsK_nJKU&feature=related

 

In 1998 he predicted the 2000 dot com crash.

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http://www.youtube.com/watch?v=4837NXWxpMA

 

In 2001 he predicted the housing bubble crash and what the Fed would do in response.

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http://www.youtube.com/watch?v=KONpt9a6HrI&feature=relmfu

 

And of course he has told us this year Mar. 2012 about the Bond Bubble currently forming.

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http://www.youtube.com/watch?v=Q0c4QgpEpGM

 

In fact he has accurately predicted very single economic down turn in the last 3 decades, with an explanation of why he believes they will happen.

No other politician that I know of has this track record. In fact no member of the Federal Reserve has this track record. And most noteworthy there are very few people in the financial sector with this impressive record of accuracy.

To put our trust in the people that never saw these coming to fix the problems makes no sense, especially since their fix is doing more of what Dr. Paul has identified as the cause.

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[CIM]

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Ron Paul, Paul Krugman face off in economic debate

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Source: http://thehill.com

By Justin Sink

Republican presidential candidate Ron Paul and New York Times columnist Paul Krugman faced off for a televised debated on fiscal policy Monday afternoon in a battle likely to appeal to policy wonks on both sides of the political spectrum.

The two staked out positions that predictably offered sharp contrasts, with Paul emphasizing his belief in “very small government” during the appearance on Bloomberg TV.

“I emphasize personal liberties. I don’t like a managed economy, whether it’s through central economic planning or monetary policy or even Congress doing it. It’s a completely different philosophy that markets are supposed to work, you know, in a natural way,” the Texas congressman said.

Krugman, meanwhile, described Paul as “living in the world that was 150 years ago.”

“History tells us that in fact a completely unmanaged economy is subject to extreme volatility, subject to extreme downturns. I know this legend that some people like that the Great Depression was somehow caused by the government or the Federal Reserve, but that’s not true. The reality is it was a market economy run amok, which happens repeatedly,” the Nobel Prize-winning economist said.

That prompted Paul to one-up Krugman, saying the columnist “wants to go back 1,000 years or 2,000 years just as the Romans and the Greeks and all other countries debased their currency.”

“What did the Romans do to their currency? The Byzantine Empire had a gold standard for a thousand years and they did quite well and they didn’t fight wars. But the Roman empire eventually destroyed their currency. They put in wage and price controls before they diluted the metals. They inflated. They thought wealth could come by fooling the people,” Paul said.

Krugman, offering a wiry smile, quipped that, “I’m not a defender of the economic policies of the Emperor Diocletion, let’s make that clear.”

While the two ideological foes broke little new ground, the conversation nevertheless provided a fairly substantive discussion for mid-afternoon cable news.

Paul also pledged to stay in the Republican presidential race until “all the votes are counted.”

“Just look at this last week. The news is very favorable to us. We could even end up winning Iowa, ironically enough. In Minnesota, we’re doing well, and Maine, Nevada and Missouri. We’re doing very, very well. Some of the states we could very well win or come up very much because the delegate process is completely different than these straw votes. We’re pleased … It’s another month or so until they count all the delegates and we find out where we stand,” Paul said.

The Texas congressman added that his support for presumptive nominee Mitt Romney “depends” on what his platform would end up being.

“If I disagree with every single thing in his platform, it’s going to be tough. If it’s 100 percent opposite on everything I have said on civil liberties, on war issues, on spending cuts, on monetary policy, you know, what can I do?” Paul said. “We have millions of people now supporting our campaign, and millions that haven’t been heard from because they’re independents and Democrats that are unhappy with Obama. To support somebody that might have 100 percent opposite views of mine would be difficult. Hopefully [Romney] sticks to his guns about not raising taxes.”

Ron Paul “The Goal Is Peace! It Isn’t Occupation!”

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Ron Paul “The Goal Is Peace! It Isn’t Occupation!” Town Hall Durham, New Hampshire

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Jay Leno interview with Ron Paul on 12.16.2011

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[CIM Comment:]

Great interview with Jay Leno!

Now more than every we need the Champion of the Constitution!

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New Hampshire Takes Another Look At Ron Paul

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Source: http://www.npr.org

by Jon Greenberg

 

Cheryl Senter/AP Republican presidential candidate Rep. Ron Paul of Texas is surrounded by supporters after speaking at a town hall meeting in Keene, N.H., on Monday.

 

In this presidential cycle, as in the last, there is no question which Republican candidate has the most ardent supporters: Ron Paul, the 76-year-old Texas congressman whose brand of libertarianism often puts him at odds with all of his rivals. But with less than seven weeks to go for the nation’s first primary, there are signs that Paul could surprise people.

Former Massachusetts Gov. Mitt Romney is sitting pretty in New Hampshire, where he has been the front-runner all year, so whoever comes in second in the Granite State isn’t doing too shabbily.

“I could very well see Ron Paul coming in second place,” said longtime pollster Andy Smith, who runs the University of New Hampshire Survey Center.

Smith’s numbers last week show Paul in third with 12 percent, up from just a month ago. Other alternatives to Romney have risen to double digits only to fall back again, but Smith says Paul has some key advantages.

“He’s got more money than other candidates, and he seems to have a more committed young following,” he said. “Those young voters [are] always important on the campaign trail because they essentially will work for free and they’re very enthusiastic about Paul.”

Last week at Keene State College, Paul was clearly finding his campaign’s sweet spot. More than 300 people packed at town hall meeting, many of them students. Paul launched his remarks with his signature call to return the dollar to the gold standard. He then talked of his plan to bring home American troops from across the globe.

“I don’t believe we have the right or the authority to tell other people what to do,” he said. “I believe we should be dealing with our own problems at home and improving our own conditions here.”

Paul’s base of young voters and hard-core libertarians leads some handicappers to pigeonhole him and dismiss his chances — and with some historic justification. In the 2008 New Hampshire primary, he drew less than 8 percent of the vote. But things could be significantly different this time as Paul reaches out into new corners of the electorate.

His next stop after Keene was a house party in the affluent town of Windham on the border with Massachusetts. This was no humble living-room affair. The host hired bartenders to staff not one but two built-in bars. The appetizer table offered rabbit pate.

Four years ago, Steve Airocci, who teaches social studies, voted for Obama and had no interest in Paul. Now, he’s interested. He says he senses the established order has driven the country down to rock bottom.

“There’s nowhere else to go,” he said. “We have to do something drastic. We have to make some significant changes in government and primarily on the financial side.”

Airocci is a registered independent, a fertile group for Paul in the past. This year, though, some registered Republicans are also giving Paul a closer look. Many voters who like Paul say they believe he is the only candidate who truly means what he says.

Former state Republican Party Chairman Fergus Cullen says another reason voters might have good feelings about Paul is the way he has side-stepped the normal campaign rough and tumble.

“He’s unlikely to get attacked by the other opponents because no one sees it in their interest to go after him,” he said. “So they’re going to continue to just hear the positive and not the negative.”

Cullen says events have made Paul’s ideas about foreign entanglements and rethinking government more plausible. But his gut tells him most Republican primary voters are still not ready to go as far as Paul would like.

That’s probably true for the race for first place. But in the race for second, Paul might be the one to watch in the home stretch.

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Speaker Boehner hamstrung Ron Paul on the Financial Services Committee. What does that tell you about Boehner?

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Speaker Boehner hamstrung Ron Paul on the Financial Services Committee. What does that tell you about Boehner?

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Ron Paul Interview On The Neal Boortz Radio Show

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Airing Date Nov.29, 2011

Ron Paul Interview On The Neal Boortz Radio Show

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