Friday, September 14, 2012

Ron Paul Responds to Fed Decision to Launch QE3

Ron Paul issued the following statement in response to the Federal Reserve announcement that it will launch a new round of quantitative easing :

No one is surprised by the Fed’s action today to inject even more money into the economy through additional asset purchases. The Fed’s only solution for every problem is to print more money and provide more liquidity. Mr. Bernanke and Fed governors appear not to understand that our current economic malaise resulted directly because of the excessive credit the Fed already pumped into the system.

“For all of its vaunted policy tools, the Fed now finds itself repeating the same basic action over and over in an attempt to prime the economy with more debt and credit. But this latest decision to provide more quantitative easing will only prolong our economic stagnation, corrupt market signals, and encourage even more misallocation and malinvestment of resources. Rather than stimulating a real recovery by focusing on a strong dollar and market interest rates, the Fed’s announcement today shows a disastrous detachment from reality on the part of our central bank. Any further quantitative easing from the Fed, in whatever form, will only make our next economic crash that much more serious.”


  1. When RP makes statements like this my admiration for him, and the ideas he propagates, grows.

    He truly is a light in the darkness and once again shows through clear thinking that there is a difference between good, sound reasons and reasons that sound good.

  2. Dr. Paul consistently speaks truth to power, a GENUINE statesman.