Thursday, December 2, 2010

Video: Ron Paul on the The Fed's Recent Actions

The recent disclosure of the Fed's activities surprised even Ron Paul.

So long as the Fed has fiat control of the money supply there will only be a negligibly free market.  Inflation and bubbles (that always bust!) are creatures of the Fed, not the free market.  How could inflation and bubbles possibly be the result of free market capitalism?   The Fed has kept the money supply inflating toward special interests and not the broad interests of a free market, hence all the inflation and bubbles. (Note the 7:57 mark)

Somehow, like Congress itself, every time a financial crises comes along the Fed gets to play the innocent bystander, as if it is not itself responsible.




fd