Information Landmine

"The Americans keep telling us how successful their system is. Then they remind us not to stray too far from our hotel at night." - An un-named EU trade representative quoted during international trade talks in Denver, Colorado, 1997.

Monday, May 07, 2007

Ron Paul

This is the guy who makes the Republican debates worth watching, for me at least. He's basically a Libertarian who's running with the Republicans on a tax-cutting basis, and his answer to more or less everything (except, apparently, immigration and abortion) is to get rid of government and let the market deal with it. The difference is that he walks the walk on this policy, and understands that things like the military industrial complex also constitute a big intrusion of government into the economy. While I obviously don't agree with everything he says, the guy's been something of a hero of mine since he spoke on the House floor about the Eurodollar theory of the Iraq war. You can read the full speech here, but this pretty much gives you the flavour of it:

"Our whole economic system depends on continuing the current monetary arrangement, which means recycling the dollar is crucial. Currently, we borrow over $700 billion every year from our gracious benefactors, who work hard and take our paper for their goods. Then we borrow all the money we need to secure the empire (DOD budget $450 billion) plus more. The military might we enjoy becomes the 'backing' of our currency. There are no other countries that can challenge our military superiority, and therefore they have little choice but to accept the dollars we declare are today’s 'gold.' This is why countries that challenge the system-- like Iraq, Iran and Venezuela-- become targets of our plans for regime change."


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Blogger David Wozney said...

A "Federal Reserve Note" is not a U.S.A. dollar. In 1973, Public Law 93-110 defined the U.S.A. dollar as consisting of 1/42.2222 fine troy ounces of gold.

07 May, 2007 21:36  

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