“A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.” – Ron Paul
Pete Schroeder has an article over at “The Hill” today titled “Paul Returns To DC To Assail Bernanke“. It’s a short article, noting that Paul took the time to get back to DC to grill funny-money Bernanke.
At one point he held up an ounce of silver and explained to Ben that the silver ounce bought 4 gallons of gas in 2006, but would buy 11 gallons today. Hard assets and sound money don’t face the type of inflation that fiat currencies do. Or, rather, sound currencies don’t systematically pilfer the savings of the poor and working class for the advantage of the banking elites.
Now, you may argue, “hey, you can always convert your dollars into assets if you’re worried about currency valuations.” I agree – except that to do so is to face a secondary taxation on your stored wealth. So, you either get taxed by the slow bleed, or by paying the “get out of our scam” fee. Yeah, that’s fair.
By fighting for sound money, Ron Paul is fighting for you. Not sure you could say that of any other presidential candidate. (Well, I actually am sure of what you could say, but don’t want to put words in everybody’s mouth.)