From Congressman Ron Paul, in his weekly ''Texas Straight Talk''
column on his
House of Representatives website, posted on December 14th:
''Because of legal tender laws that force acceptance of the dollar, the Fed has
absolute power over the currency. This absolute power is leading to the
absolute corruption of our currency. The money supply has doubled in the last
year or so, which is extremely dangerous. The banks seem to be hoarding
liquidity now but once these dollars make their way into the economy,
hyperinflation and economic chaos will be a real possibility.
Every time hyperinflation rips through an economy, the middle class gets
completely wiped out. It is very alarming to watch the purchasing power of an
entire life savings reduced to that of a few pennies. Those savings represent
years of real labor, real time, effort and sacrifice exchanged for corruptible
pieces of paper that politicians and bankers can destroy at whim.
Legal tender laws force the people to become subject to this risk for the
benefit of the rulers. Artificial demand for currency allows the authorities to
create arbitrary amounts of it to pay for wasteful projects, like frivolous wars
and an ever-expanding public sector. This saps the private economy of jobs and
purchasing power, yet the temptation proves too great for politicians, time and
time again. Our government is no different. Although our dollar has taken
nearly a century to lose 98% of its purchasing power, the fact that we are all
obliged to participate in this slow burn of the economy on pain of imprisonment
is anathema to the principles of liberty.''
. . . and from Mary Anne and Pamela Aden, editors of The Aden Forecast, writing
in their December issue, released this week:
''Silver has had a great rise this year, gaining 50%. Better yet, it???s gained
119% since its November 08 low (more than gold's 72% gain), an impressive rise
as it approaches its 2008 high. Once this high at $20.78 is surpassed, silver
will have erased all of last year's losses. It practically has already." |
