November 15, 2008
Ron Paul on the little G20 get-together today, the end of the dollar standard, and the chance of an international central bank
What's coming, he thinks, is the end of the dollar standard, and the beginning of an international central bank.
One-world currency?
Meanwhile, nothing has surprised me more than the massive rally in the US dollar these past few weeks. Which of course has taken the price of gold and oil down with it. But as Ron Paul says, "eventually that will have to collapse".
When?
And anyone want to get on record with a prediction about what comes out of today? My guess is a nice photo-op, and some talk about coordinating regulations of the financial system. That's it. This is not Bretton-Woods II. It's just a meeting.
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Remember the good old days, when all that monetary policy stuff that Ron Paul was talking about in the debate sounded like crazy talk? Remember when he seemed to be too out in left field to be a serious presidential candidate? Remember when people thought Rudy Giuliani was a serious contender to be president?
The irony is that now Ron Paul is regularly on CNBC, CNN, FoxNews, FoxBusiness, etc. while Giuliani is usually relegated to old clips on Comedy Central.
To all the MSM clowns who followed their orders and marginalized his candidacy, I say "Don't forget to apologize to your grandchildren."
Too bad Ron Paul wasn't a woman, or a minority, or some other feel-good/high-ratings story. Then, his campaign would have been "historic" and no one would have wanted to say anything bad.
I hope a new Ron Paul will emerge in 2012. Maybe Mark Sanford, Gary Johnson or BJ Lawson. Maybe someone from the business community will emerge.
And sorry, Keith. I watched Ron Paul. I gave a lot of money to Ron Paul. And Senator Obama, he's no Ron Paul.
As much as I would love to see the first black president be a stunning success, it looks like the country is still basically going to be run by Goldman Sachs (Corzine), AIPAC (Emmanuel), and the old power structure (Clinton).
Obama is helluva a lot smarter than Bush. But his job, just like Bush's, was just to get elected. Running for president is becoming more of a casting call for an acting job. In this case, your job is to *act* like your running the show while you're really just a puppet for the elites.
Excellent commentary by "chslaxcoach". I agree 100%.
And great clip on Ron Paul.
Many people vehemently oppose a one-world currency; but then clamor for a gold standard.
99% they don't know what they are talking about, just parroting Alex Jones or some such figure.
A gold-standard is one world currency. Ron Paul says you don't need global government for that; no but you do need treaties like Bretton Woods. Why?
YOU DON'T CARRY GOLD AROUND IN YOUR POCKET!
You use paper, or an electronic fraction of gold. Who prints the paper? If it will be national governments, you have to agree how many units of the national money equal gold: e.g. Bretton Woods itself!
And here's the punch line: you can inflate on a Gold Standard merely by changing the standard! E.g. instead of 1000 dollars = 1 ounce of gold, the government says that 2000 dollars = one ounce of gold. And this has been done many many times in the past!
Which is why our forebearers simply stripped the pretense of a gold standard in the 70s. Why bother with the charade?
The Chinese and the EU simply want to take that devaluing power away from national governments; they should eliminate it all together in my opinion.
I don't get the ones pushing for the reinstatement of the gold standard. The only reason to promote this system is if you own a whack of the yellow stuff. Anyone with a brain knows that it's not a gold standard that creates monetary stability.
Anyone who actually thinks about it for more than a couple of seconds will know that gold as a standard does not stop the printing presses and the devaluation of money.
For a gold standard to work, all participants need to respect their pegs. And any student of history will know that there have been cheaters. The UK, abusing its power during the early 1900s, screwed up the system by printing more pounds than it was entitled to.
The baton was stansfered to the US after WWII. Why anyone would believe the US would not take advantage of its position in a gold standrard system is beyond naive. This Consumer Society of theirs is all about throwing around their overvalued dollar!
And all our current troubles are about naivete. There are just too many people out there who believe in free lunches, who think they are God's gift to the world and deserve their Western lifestyle, who think that the institution of harsh punishments deters criminal and/or criminal activity.
For a system to work, you need cynical minds constantly on the lookout for individuals/entities with conflicting interests.
And in our current system, just try getting ahead if you are cynical!
chslaxcoach ....Darn good post.
When the world went Global with labor markets and the World went Global with money supply ,did people think that it wouldn't result in one world currently or a need for the Global Countries to now meet and agree on their actions ,as in one Country can now affect the other Country ? Now America has to do what is in the best interest of the big
Global Market player Countries ,never mind what might be good for America as a entity itself .
Did the Corporate World and the Government think about what they were creating by Big Business going Global ? Not only did the outsourcing of jobs and manufacturing place America at risk,but allowing money supplies and investments to mix with other big players World wide created a nee to solve the problem in Union with other Countries . I don't know about you but I don't want to based what is good for America on what is good for every other Country .
We are no longer America ,as a separate entity ,but we are the World . Because the globalism expansion was in most part designed to benefit big business ,rather than the different Countries ,it can't turn out good .
Will globalism bring the whole World together ,under the same common laws and protections ?I think not and that's why it shouldn't have been done to begin with .
World trade is a good thing . The World mixing labor markets and money supplies is a bad thing .
Wall Street wanted access to the World money supply ,(just so they could make money of course ),but didn't want any regulations on how that money supply was placed ,which created a royal bubble .
Is the monopoly of cheap foreign goods in a Country represent anything but something that will destroy all competition and American manufacturing that cannot compete ,based on our wages and employment laws ?
Does taking a the Worlds money supply for investment cause that money supply in America to be a over-supply that ends up creating nothing but fake bubbles ?
No rules of the game ,no thought as to what mixing world supply in terms of labor and money -supply would create . This is what happens with unregulated Big Business greed is being the sole policy making machine .
At least if America decided to go Global ,they should of considered what this would do to the American way of life . Big business bought us off by cheap crap from slave labor countries while they slowly took away our jobs and than they gave us fake debt money because we didn't have real income or jobs to buy homes or products .What a scam ,and a perfect example of what big business will do if they are driving the ship without regulations .Union demands in part caused the problem ,but bought off Politicians created the problem of the problem not being solved correctly . One extreme to the other in power plays .
Don't know if the Jennie can be put back in the bottle again ,but its clear that we cannot continue to function as long as we deny what happen and the POWER Brokers try to solve the problem in a manner that sticks the finger at Main Street .
RP would have made a great prez - love him. I too am hoping a RP type in 2012.
G-20 is a photo op, nothing more - may cause a brief rally in the market - hard to tell given how erractic it is.
Two words after watching RP hint about the inevitable decline/collapse of the dollar: Hold gold.
chslaxcoach. Fantastic commentary. And yes, I remember. I wrote in Ron Paul as my choice for President this year. Obama is about to inherit a shitstorm, so maybe Ron Paul not winning was a blessing in disguise.
"Don't forget to apologize to your grandchildren."
MSM can do no wrong. Just ask em.
Someday...if we still have a 'civilization' of sorts that cares about written history...they will look back at the 2008 election and say, "Why the hell wasn't this man voted as president of the United States?"
...crickets chirping...
If you like what Ron Paul has to say, you need to start thinking about changing the Republican Party back into a fiscally conservative organization. It really is the logical next step. Obama and Karl Marx are the future of the Democratic Party - the majority of American voters have seen to that. The hope lies with a return to true free market fiscal conservatism the way Ron Paul describes it. Join the Campaign for Liberty. He always knew he wasn't going to win. The hard work begins now. If I sound like a cheerleader, it's because i've found a political philosophy worthy of my loyalty. If the Communist Manifesto reads like the American Dream to you, then join the Democratic Party. If Ron Paul inspires you and you still believe that life is what you make of it (and government shouldn't get in your way) start changing the Republican Party.
Gee Keith...
ya think...NWO...?? Huh...whuda thunk?
You ever get the feeling keith that things really are not as they seem...
You should.
You should also read my posts on HP back in 05 about the amero...about the NAU...and a one world government...(911 aside of course)
Back then I think you said somethinjg like, "HP we have a troll".
Yeah ...right keith.
Nice to see you may be stepping away from the kool aid.
There isn't enough gold in the world to serve as a medium of exchange for the huge volume commercial transactions. All you troglodytes who want to abolish the Fed should read "A Nation of Counterfeiters" by Stephen Mihm.
http://preview.tinyurl.com/58vgfw
Nixon closed the gold window in '71 because he had to. LBJ had already inflated away the dollar's value with his war in Vietnam, and DeGaulle had the French turning in their dollars for gold to the extent that Fort Knox would have been depleted to zero before long.
Ron Paul is unrealistic about wanting to reestablish a gold sstandard, but he is right in saying the Chinese and other dollar holders will need to go easy to prevent a run on the dollar. Politicians have a saying about elections: You can't beat somebody with nobody. If the dollar is going to surrender its role as a reserve currency, there has to be a new reserve currency, and there are no candidates. As much as the rest of the world resents us, they distrust one another even more.
If the dollar is going to surrender its role as a reserve currency, there has to be a new reserve currency, and there are no candidates. As much as the rest of the world resents us, they distrust one another even more.
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And as the European Union's economy sinks to ever lower levels, frustrations will explode and negatively impact the Euro.
America has too much debt so its number one goal is to deflate it.
There are 2 ways to do this. Let the US dollar drop and try to make the rest of the world pay or create huge inflation. Of course option one is more palatable to Americans but as their debt is owned by foreigners it is limited.
I don't think the currency drop strategy is quite feasible because there is no other strong reserve currency out there. So America will suffer through an inflationary bout. There will be a little bit of deflation at first until enough companies across all industries are forced to liquidate and capacity quickly disappears. But as government keeps on sending checks to everyone and his uncle, inflation will soar.
The writing is on the wall. Prepare.
The multi trillion dollar question is whether or not America will be able to devalue the debt faster than it keeps on adding to it!
Nixon closed the gold window in '71 because he had to. LBJ had already inflated away the dollar's value with his war in Vietnam, and DeGaulle had the French turning in their dollars for gold to the extent that Fort Knox would have been depleted to zero before long.
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De Gaulle always wanted France to be the superpower (remember all those wars against England)and hated the fact the America enjoyed this new position.
He knew exactly what was going on. He knew that Americans would benefit from an overvalued dollar and would be living like kings as long as they enjoyed this reserve currency position. It's free money and De Gaulle resented this.
In the final analysis, history has shown that all superpowers mismanage their bounty and America is no exception to the rule.
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