Posted by Tenth Amendment
Congressman Ron Paul Before the U.S. House of Representatives, Committee on Financial Services, Hearing on HR 1098: the Free Competition in Currency Act
I. The Problem
John Maynard Keynes once stated that “There is no subtler, no surer means of overturning the existing basis of society than to debauch the currency. The process engages all the hidden forces of economic law on the side of destruction, and does it in a manner which not one man in a million is able to diagnose.” Such a situation is exactly what faces this country today, as the Federal Reserve seems hell-bent on destroying what little purchasing power remains of the U.S. Dollar.