Originally posted by JMart:
Rox, this is such an interesting topic. Ron Paul piqued my my attention about this when he ran for president and I was greatly dissapointed by the low level of debate that generally consisted of ad hominem attacks against Dr. Paul. I never heard or read a serious rebuttal to his arguments about the dangerous ways the US is manipulating money through the federal reserve.
Agrguments I heard on this topic just took the form of, "Well, Dr. Paul is way out on the fringe on this issue..." OK, I'll agree that he is, but I'd like to hear someone explain why they think he is wrong instead of just pointing out that he's not winning the latest popularity contest (look up the logical fallacy argumentum ad populum and ask yourself if you would jump off the golden gate bridge just because most politicians think you should).
Please post a link to a good rebuttal about this federal reserve issue if you know of any, I'm seriously interested. Otherwise, I think we in the US should all be paying much closer attention to what people like Ron Paul have been warning us about regarding US monetary policy.
I've had a hard time finding any good rebuttals. The closest I have found is (ironically) from FOX reporter David Asman as he interviewed Dr. Paul in May, 2008. He plays the devil's advocate, but actually lets Paul answer. Since the recent bout of bailouts began I have seen more of Ron Paul in the media than when he was running for president. I guess it's safer to let him speak now that his common sense approach will not be taking him to the White House. In contrast watch the week McCain had as covered by Rachel Maddow. If I don't laugh I will have to cry.
Ron Paul is an economic scholar and has attempted to rescue us from the impending economic crisis. Sadly, we don't want to be saved. Here are some excerpts from The Liberty Dollar Wikipedia page:
"On December 13, 2007, Representative Ron Paul introduced the Free Competition in Currency Act of 2007 in the U.S. House of Representatives, saying:
One particular egregious recent example is that of the Liberty Dollar, in which federal agents seized millions of dollars worth of private currency held by a private mint on behalf of thousands of people across the country .... We stand on the precipice of an unprecedented monetary collapse, and as a result many people have begun to look for alternatives to the dollar .... I believe that the American people should be free to choose the type of currency they prefer to use. The ability of consumers to adopt alternative currencies can help to keep the government and the Federal Reserve honest, as the threat that further inflation will cause more and more people to opt out of using the dollar may restrain the government from debasing the currency.
The bill seeks to legalize the use of currencies — including the Liberty Dollar — that compete with the Federal Reserve's U.S. dollar."
"The Liberty Dollar offices were raided by agents of the Federal Bureau of Investigation (FBI) and the United States Secret Service on November 14, 2007. Bernard von NotHaus, the owner of Liberty Services, sent an email to customers and supporters saying that the FBI took all the gold, silver, and platinum, and almost two tons of Ron Paul Dollars. The FBI also seized computers and files and froze the Liberty Dollar bank accounts. Most of the precious metal seized was not owned by von NotHaus or Liberty Services, it was merely being warehoused by Liberty Services on behalf of its customers. Von NotHaus's email linked to a signup page for a class action lawsuit so that the victims might recover their assets. At the same time, all forms on his website relating to purchases of Liberty Dollars became nonfunctional."