By the way, whatever you think of Paul’s monetary views, his statement that wars produce inflation is absolutely right and pretty much irrefutable. At some point, you have to be either pro-dollar or you can be pro-war.
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January 24th, 2008 at 8:03 pm
TGGP
When was the last time you heard of a pro-dollar politician that was not Ron Paul?
January 25th, 2008 at 9:02 am
Howard J. Harrison
Irrefutable is right.
America’s risky post-Hoover experiment with the fiat dollar, which dollar has served post-Roosevelt as the international reserve currency, is unprecedented in history and cannot accurately be labeled a failure yet. Foes of the fiat dollar including Dr. Paul must admit that 75 years of fiat dollarism without a major monetary failure is a pretty impressive run. However, if the fiat-dollar experiment were going to fail at long last, then recent events are exactly the kinds of signs one would expect.
As to being pro-dollar or pro-war, I cannot deny having supported the war back when it started, but as of today you can count me in with Dr. Paul: I’m pro-dollar.
Howard
January 25th, 2008 at 10:28 am
Josh M.
Howard said: “75 years of fiat dollarism without a major monetary failure is a pretty impressive run”
That statement in itself demonstrates the problems with a fiat currency. If 75 years without major failure is praised as being ” an impressive run,” it’s a dumb monetary system. Let me know if it lasts a thousand.
Any monetary system that allows managerial elites to control a money supply, from which they can make more money at will, is a failure in terms of conservative ideals.