Ron Paul on the Bailout

• Posted Sep 29, 2008 by ■ Kim Ruiz (givemetruth)

  #1

  Thanks for the link...I think he hits the nail on the head when he says that we're focusing on one very narrow aspect of this problem, and that any deal Congress reaches will be a bad deal in the long run. Better...no deal!

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• Posted Sep 29, 2008 by ■ Stephen Dohnberg

  #2

  glad to see people even referencing the Bretton Woods failure and one might also take into consideration the false inflation of the British Pound during the prospective packaging...
  
  
  heck - even Lyndon LaRouche got it right! (*shudder*)...hold me...

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• Posted Oct 1, 2008 by ■ keith hendrickson

  #3

  A lone voice crying against the wind in Congress.
  Take a look at the Glass- Steagle Act that was passed after the 1929 crash for future generations to avoid the disaster that has befallen the financial system in the US today. The act first begain to unravel in 1988 under the Carter adminstration and was finally abolished in 1998 under the Clinton Adminstration. The act essentially prevented Wall Street from getting into the Banking sector and the Banking sector out of risky instruments called derivatives.
  In 1998 there were around $18 trillion in these risky paper instruments, in 2002 approximately $60 trillion, and the present 2008 notional value--- $600 TRILLION.The present crisis is the unwinding of the this huge amount at which they are proposing to throw $700 billion! It's like plugging a 2 foot hole in the dam with your little finger.
  The only thing this will accomplish is causing the demise of the US dollar and deflating the assets of the Amercan people.
  There will be a world wide depression caused by neglect and over indulgence.
  Protect yourself-- Buy gold and/or silver.

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• Posted Oct 1, 2008 by ■ G. Robert M. Miller

  #4

  I think you may be on to something there Mr. Hendrickson...

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