Tuesday, July 7, 2015

What Would Ron Paul Tell the Greeks If They Called Him Up?

Finally, someone states that the environment in Greece has to change so that the economy can grow.  


  1. One thing I found interesting is Dr. Paul said he thought a more sound currency would come out of a monetary crash. I could see that and would hope so. I wonder if a totalitarian government,( more than what we have now) could have sound money? Could be. As RW was saying in a post today, the more likely outcome is much more tyranny. Does that necessarily mean fiat currency too?
    I have heard Dr. Paul say he thinks things may get a lot worse before they can get better though. Which I am sure is a very likely outcome.
    Very fun to listen too for sure. Thought provoking to say the least when all the options are talked out and put on the table. The greatest thing to me about it all, is none of us actually knows what is going to/will happen. Not even the tyrants.
    Human Action is a very perculare thing, especially when we not only put government actors in to play, but ourselves.

  2. Napoleon reintroduced gold after every counterfeiting scheme imaginable failed in France, including a bizarre scheme of land backed currency. See:


    This is a classic case of why we have to be careful with "efficient government" arguments disguised as "limited government" or "market reforms," such as reinstating the gold standard as a state monopoly.

    It might be more stable, but that means more loot for the war machine.

    1. 'Fiat Money Inflation in France' is one of the best pamphlets out there. It has the inflation part, of course, but SO much more. It has the arguments for and against, with the clarion calls of the inflationists winning out over calmer heads. It has the druggy aspect, with the populace demanding another "fix" every time they came down from their monetary high. Many of the inflationists turned out to be swindlers as well.

      Most importantly, to me, is how every consequence born from the inflation was so easily blamed upon the business sector. It was greed and callousness by traders and shopkeepers which caused all of the trouble. The politicians, on the other hand, simply had to devalue the currency and put in price controls to be perceived as doing good while really doing untold destruction to that nation - and the people believed all the way to the bottom. Was it ignorance or hope?

      I've read it many times and each time it's fascinating almost beyond belief. And while inflations come and go, it has never been chronicled better than by A. D. White.

    2. Thanks for that book suggestion!

    3. Precisely Brutus, why I'm not optimistic at all about a return to sound money.