Fed Money Never Destined For ‘Real Economy’ And The Federal Reserve Is The Main Cause Of The Boom-And-Bust Economy

Fed Money Never Destined For ‘Real Economy’ Just Lining Pockets Of Rich Friends.

http://video.cnbc.com/gallery/?video=3000219936

Ron Paul: “The Federal Reserve Is The Main Cause Of The Boom-And-Bust Economy”

 

In an updated edition of “Texas Straight Talk”, former Texas congressmanRon Paul noted this week that, “The federal reserve is the main cause of the boom-and-bust economy,” and by, “manipulating the money supply and the interest rate, Federal Reserve polices create inflation and thereby erode the value of the currency.”

Ron went on to note that, “Since the Federal Reserve opened its doors one hundred years ago, the dollar has lost over 95 percent of its purchasing power —that’s right, today you need $23.70 to buy what one dollar bought in 1913!”

Ron’s full commentary, published on behalf of The Foundation for Rational Economics & Education, is shown below:

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Federal Reserve Steals From the Poor and Gives to the Rich 
By: Ron Paul

Last Thursday the Senate Banking Committee held hearings on Janet Yellen’s nomination as Federal Reserve Board Chairman. As expected, Ms. Yellen indicated that she would continue the Fed’s “quantitative easing” (QE) polices, despite QE’s failure to improve the economy. Coincidentally, two days before the Yellen hearings, Andrew Huszar, an ex-Fed official, publicly apologized to the American people for his role in QE. Mr. Huszar called QE “the greatest backdoor Wall Street bailout of all time.”

…

http://bullmarketthinking.com/ron-paul-the-federal-reserve-is-the-main-cause-of-the-boom-and-bust-economy/

Timing the Collapse: Ron Paul Says Watch the Petrodollar

“The chaos that one day will ensue from our 35-year experiment with worldwide fiat money will require a return to money of real value. We will know that day is approaching when oil-producing countries demand gold, or its equivalent, for their oil rather than dollars or euros. The sooner the better.” (emphasis mine)

~ Ron Paul, 2006

What Ron Paul is referring to here is the petrodollar system. It’s one of the main pillars that’s been holding up the US dollar’s status as the world’s premier reserve currency since the breakdown of Bretton Woods.

Paul is essentially saying that, if we want to better understand the answer to the elusive question of “When will the fiat US dollar collapse?“, we have to watch the petrodollar system and the factors affecting it.

http://www.internationalman.com/78-global-perspectives/1047-timing-the-collapse-ron-paul-says-watch-the-petrodollar#

A Global War on Savers

http://dailyreckoning.com/a-global-war-on-savers/