If they only make us poor enough, then we’ll all be better off … if they can only make the currency that we work for, earn, save, and buy things with, worth a lot less … then we’ll be better off.
Doesn’t make a lot of sense, does it?
But it’s the kind of logic one would expect from those who believe we can spend our way to prosperity.
That logic bequeathed us a mountain of unpayable debt. The logic of trying to create prosperity by destroying the value of the money will bestow on us a worthless currency.
I spoke with Congressman Ron Paul, chairman of the Domestic Monetary Policy subcommittee shortly after the Fed announced its new initiative, Quantitative Easing IV, last month. In the context of the Fiscal Cliff debate, Dr. Paul pointed out that the Fed’s monetary policies are enablers of congressional profligacy.
Read more at The Campaign For A Sound Dollar. By Charles Goyette.