RON PAUL: INTEREST RATES Could RISE Like They Did in the 70s!
Paper money never lasts. Ben Bernanke even acknowledged that. The Fed is holding over 4 Trillion dollars. Where is the inflation? Have the costs of military equipment gone down? People argue there is no inflation. What about stocks? What would a dollar bubble burst look like?
No one knows exactly, but generally speaking, |
…the purchasing power of the dollar will go down, and the cost of living will go up.
When this happens you will see a break in the interest rates.
Now, they are essentially minus, and they can’t stay there,
and probably the Fed will never raise interest rates.
But if people reject the taking of the dollars,
in order for the dollar to survive,
they have to raise interest rates.
This bubble has been built because there has been an artificially held down interest rate, so no one knows what is a good investment or a bad investment, as everything is distorted without the interest rate signals.
I think the economy will get very weak, I think interest rates will be going up, and unfortunately, our government will resort to more militarism and a command society. That would be very, very bad.
The benefits could be that we wake up. It’s an opportunity for us to present the case for peace and prosperity. One thing we need to do is dispel the myth that wars are good for the economy. They are devastating to an economy. We got out of the depression after World War II.
The dollar is the reserve currency, yet no one knows what it’s true value is. The best measurement throughout history for the value of a currency is its relationship to gold. Even though gold may seem to be in the doldrums right now, eventually this will break out, and when they lose confidence in paper, which they always do, then hard assets will serve the interests of the consumers. Just hanging onto paper dollars will not protect us.
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