Dollar not a reserve currency of the world anymore – hyperinflation predicted
With speculations mounting of a pending third bid for US President, Congressman Ron Paul exposed the fact that mounting U.S financial troubles would soon force the nation to a terrible decision. During an interview, Mr. Paul said that he thinks one important signal of the upcoming crisis is the rapid increase in prices. “If there is a flight from the currency we may witness the demolition of the dollar very soon.” Paul warns. The closing stage of money comes quickly, as seen in case of countries like Zimbabwe and Weimar Germany in the 1920s.
In accordance with Paul’s theory, the cause for the rapidly growing price level is none other than the U.S. government’s own fiscal strategy. When he was questioned about relative salary inflation and current restrictions on collective bargaining for the state workforce in Wisconsin, Paul’s response was that when salaries are unnaturally elevated, it distorts markets, so they just blow them up further, and the actual salary decreases. Thus, the salary increases, however it buys less.
Congressman Paul offers an easy remedy to hyperinflation by advising the Central Bank to stop printing excessive money. Any person worried about elevated prices can appreciate such a shrewd financial strategy. Extensive gossip about Ron Paul’s application as a Presidential candidate in 2012 has been rumored. When enquired by The Costa Report about the rumor, Paul commented that if the people are interested to learn about the government’s financial arrangement, he would not hesitate to contribute to the discussion.
Texas resident Ron Paul, two-time applicant for the leadership of the U.S., enjoys a nationwide status as the leading advocate for market autonomy in political affairs. In Washington he is the chief narrator for reduced government regulation, lower taxes, a liberated market, and transition to a sound fiscal policy based on hard-backed money. He is well respected amongst his contemporaries in Congress and makes up for his steady pre-voting testimony within the House of Representatives. Under no circumstances does he vote for legislation except when the projected measure is specifically authorized by the Constitution. According to William Simon, former Treasury Secretary, Dr. Paul is the exception to the so-called Gang of 535 on Capitol Hill.