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Showing posts with label Doomsday scenarios. Show all posts
Showing posts with label Doomsday scenarios. Show all posts

Sunday, January 1, 2012

Doomsday Scenarios from Ron Paul

According to a Reuters News Report, Texas Congressman Ron Paul (R-TX) author of "End the Fed", fears eroding Civil liberties,  a United Nations take over of the U.S. money supply, and violence in the streets following a  Soviet Union-style economic collapse.

Congressman Paul, seen as a loon by some and the People's Champion by others, often warns of a deeply indebted federal government and hollow currency.  He draws parallels between the current situation in the United States and that of the former Soviet Union, whose economy collapsed amid the union's breakup and civil unrest in 1991.

Paul acknowledges that his proposal to avoid that outcome - an immediate, $1 trillion spending cut that would slash the federal budget by more than one-third and eliminate the departments of Education, Energy, Commerce, Interior, and Housing and Urban Development - could have some unpleasant side effects.

Unpleasant side effects?  How about $10 a loaf bread and $25 a galon gasoline, when you can find it - to me that's unpleasant.  

"I'm afraid of violence coming," he recently told a crowd while campaigning in Iowa.  "When you see what the government is preparing for, and the arrests and military law, and the demonstrations in the streets, some people aren't going to be convinced so easily that you don't owe them a living."

What Paul say's does ring true with the recent passing of the NDAA which gives the military unprecedented  ability to hold U.S. citizens as hostile combatants.

Paul also warns that the Federal Reserve was soon to "bail out" the Euro zone, a move that he said ultimately would cause the United States to surrender control of its own currency to the United Nations.  "This monetary crisis is well known by the international bankers. They want the U.N. to come in and solve this problem," he said. "The dollar will probably eventually disintegrate and be taken over. But I don't want the U.N. issuing that currency."

Economists note that Paul's long-standing proposal to return the dollar to a gold standard would force the United States to relinquish control of its currency.  "We would still have monetary policy - it would be set by gold miners in South Africa and Uzbekistan, rather than bureaucrats in Washington," said Michael Feroli, chief U.S. economist with JPMorgan Chase.

JPMorgan? - Oh Yeah, the robber barons....he has a lot of credibility.   

"If you like what OPEC means for oil prices, you'd love what the gold standard would do to financial markets."

You can read the original article here.