Ron Paul talks about Fed chairman Ben Bernanke's testimony in front of the House Financial Services Committee yesterday. Our economy faces enormous difficulties and one of the biggest culprits is ...
Ron Paul talks about Fed chairman Ben Bernanke's testimony in front of the House Financial Services Committee yesterday. Our economy faces enormous difficulties and one of the biggest culprits is the inflation tax for which the (privately owned) Federal Reserve is largely responsible.
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Please support HR 1207, The Federal Transparency Act! Our congressmen have the right and responsibility to Audit the federal reserve, like anyone else! It is our USA dollar, our representatives have the right to know! Please contact your local legislator about HR 1207!!! Congress rigorously debates millions of dollars in the senate, yet Bernanke an unelected official puts billions of US dollars at risk, and our own CONGRESSMEN can't even know how the money is spent! We need TRANSPARENCY!!!!
Inflation only becomes a tax after monetary increases begin to contribute to an increase in money-wages. This occurs at levels of output to some extent before full employment and completely after full employment. Read The General Theory of Employment Interest and Money Chapter 21
Wow, someone else who has actually read the General Theory. I didn't know there were others out there. Thats what I always tell these people who bash Keynes, to read the General Theory before talking trash about it. It all makes sense once you've read it.
It becomes a tax as soon as it affects prices, due to sticky wages, as well as the time structure of capital. Likewise, you can't decouple the short from the long run.
Yes to a certain extent it is a tax, but it is distinct from the arbitrary devaluation by the government and is mitigated to the degree that of additional goods are being produced, and the social benefits of a greater level of employment. Arbitrary taxation, by analogy, is as if at a poker table the government deals itself more chips without adding to the pot, where as latter type is as if a player was allowed to buy in for the same amount of chips using less money.
This can't work... the two countries that would share our same currency you speak of the (Amero) don't have the gold, or silver to support their own countries, so what would their Amero's be backed by? The way it is supposed to happen with the Amero, is to erase the borders first by the means of "Free trade agreements" and then all three nations would merge financially (like the EU) and then they survive by leaching off of our wealth and resources.
Doesn't he realize that all these problem came about from deregulating the financial industry in last 8 years? Inflation doesn't sound as bad now as there are less demand for goods, including oil...If we do free market way as Ron Paul insists, we could very well go through the 30s again...when we had free market.
It's obvious that these issues are WAY above your head. You have no clue what you're talking about. Ron Paul doesn't want a free market economy anymore. He's AGAINST the Fed and the Shock Tactics/Capitalism that's been the precedent with the Bush Administration.
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It becomes a tax as soon as it affects prices, due to sticky wages, as well as the time structure of capital. Likewise, you can't decouple the short from the long run.
The way it is supposed to happen with the Amero, is to erase the borders first by the means of "Free trade agreements" and then all three nations would merge financially (like the EU) and then they survive by leaching off of our wealth and resources.