Congressman schools Fed chairman again during House Financial Services Committee meeting, warns that "history is against you" www.prisonplanet.com Congressman Ron Paul proposed Federal Reserve Chairman Ben Bernanke during a House Financial Services Committee deliberately Today's meeting for a policy of destruction of the dollar and destroy the American middle class. Paul gave Bernanke task on his refusal, the decline of the dollar and the clear link to tackle inflation. "Inflationis the rate of increase in the money supply of credit .... to argue that there is still the currency that really the policy that the following are deliberately humiliate humiliating the value of money - which I think is so destructive .... it only brings more pressure on the central bank to create capital out of thin air in order to stimulate the economy and usually that is just in mal-investment, "said Paul. Paul highlighted the fact that the money was in M3 increased to rate16 per cent and this is the real rate of inflation. "History is against you," Paul told Bernanke, "History is on the side of hard money - if you are at stable prices, you must be the only historic sound money that has lasted more than a few years look - concludes fiat money However, gold is the only thing that as prices stable, he said, noting that despite the rapid rise in oil prices, which had remained unchanged from the price of gold. "I do not see how we can furtherfor ...
No comments:
Post a Comment