Congressman Ron Paul speaks about monetary policy and yesterday’s testimony of Federal Reserve Chairman Ben Bernanke. There are several other videos on the website as well.
To watch, visit the congressional webpage and click on the top video on the right.
I follow the latest economic news on a somewhat regular basis and all the recent economic data still shows that the US economy is continuing its downwards spiral. The FED keeps on printing more money in an effort to prop up failing financial institutions which by all means should be allowed to fail. The latest debacle is the FED’s bail out of Freddie Mac and Fannie Mae (more details can be found here) Is there no end in sight? Will the FED print more and more money and rescue every financial institution which played with risky subprime mortgages until the US Dollar’s value drops to zero? Maybe not to zero, but looking at the latest exchange rate quote tells me that the dollar is taking a dive south yet again.
So going back to Ron Paul’s video I would have to agree 100% with his assessment that the root of the problem is the current faulty United States monetary system.
Anyways, enough of my rambling. Enjoy the video.
If you want to talk about money & politics and how they intersect feel free to start a thread over here:
I’d recommend the “Politics” or “Finance” category.