Ron Paul on Texas Straight Talk: U.S. Government Debt Is Becoming Worthless

August 16th, 2011

FAKE NEWS for the Zionist agenda

Ron Paul
Aug 16, 2011

Politicians did not get much time to pat themselves on the back for supposedly rescuing the economy with the debt limit deal last week. The ink was barely dry when Standard Poor’s downgraded the US debt ratings anyway, roiling world financial markets. Anyone who has taken an honest look at the government’s fiscal situation, taken into account how Washington works and the direction it is going would have a very difficult time arguing with SP’s decision, although a strong case can be made that this was too incremental a downgrade and that it took far too long for SP to admit the obvious.

Nonetheless, the administration nitpicked over a $2 trillion “mistake”. SP rejoined with the fact that $2 trillion here or there hardly makes a difference in the time frame under discussion. That, if nothing else, should tell you the magnitude of the problem. $2 trillion has become a drop in the bucket.

SP cited Congress’s inability to act like grownups and make necessary, meaningful cuts, which is true. I must take issue however, with their suggestion that tax increases are part of the answer. Taking capital out of the private sector, where it can create real value in the form of new jobs and products, and instead giving it to Washington to waste and squander is not the solution. Tax increases may seem penny-wise to some, but in reality they would be very pound-foolish. The government currently takes in $2.2 trillion in taxes per year, which is far too much already. It spends $3.7 trillion, which is ridiculous and criminal. The problem is runaway government spending, not the American people having too much money.

A d v e r t i s e m e n t

And yet we can’t even have a serious discussion about bringing our troops home and ending our expensive occupations around the world – things the president used to claim to favor!

Even without this downgrade, major investors are waking up to what lies down the road for the United States in fiscal terms. China is showing more signs of losing its taste for our debt. Others are following suit. What we are about to see is the end of the dollar as the reserve currency of the world. When that happens, we will no longer be in a position to have pretend debates about things we probably should spend a little bit less on – we will be forced to implement serious spending cuts as our sources of credit dry up. Of course, we can try to postpone the day of reckoning by printing more money but the resulting “inflation tax” will be far worse than a reduction in government benefits.

Hyperinflation devastates the middle class. After Weimar Germany hyper-inflated their currency in the 1920s, an entire life savings couldn’t buy a postage stamp. The bank wouldn’t even send customers a check for all the money they had saved their whole lives. It wasn’t worth the paper it was printed on or the stamp to send it. This is what is meant when it is said that the middle class gets wiped out. The pieces for this to happen here are all falling into place, and have been since 1971. The only way to avoid that sort of chaos now is for Congress to immediately reduce federal spending and take the Constitution seriously again. The welfare/warfare state will end either way, but winding it down responsibly is a far better way to do it.

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6 Responses to “Ron Paul on Texas Straight Talk: U.S. Government Debt Is Becoming Worthless”

have has anyone noticed? that there’s looting going on right in front of our eyes by these polticians and corpartions . no jobs dollar declining wars all around and these corparations are posting how much profit they made . they know that this country is doomed thats they are making all they can . fly fly away in there private jets . while the rest of us get stuck in a 3rd world country .thats what america is headed . please people listen and pay attention to what going on around us and inform others . god bless us all .except these crooked polticians and the nwo.
He is EXACTLY richt, the welfare state has to end. In US/ UK/ EU the welfare state has to end and it will. There are 3 scenario’s left.
1. Ron Paul wins in US and in EU also rational people come to power, all ends well.
2. we will be living in a nazi/ communist state for at least 40 years, it will be terrible, you will be put down, be arrested, you can not develop your talents, build business or be honest in general, in the most extrem cases you will be put in a goulag or destruction camp.
3. WW III, this is also a bad end but it will be quick and already after about 7 years we can build a better world.

I put my money on 3.
The end is near.
- Come 2012 I think the Mayans may be right. It appears our unelected government is creating more problems than it’s fixing.
  
  A coup d’etat started in 2008 with the presidential election.
  
  Obama is the acting president. He disappeared for 2 weeks after his election win only to reappear looking exhausted sitting next to John McCain, with a bad poker face, for a press photo shoot. Obama was turned into a puppet for the Pentagon.
  
  Osama Bin Laden appears to be a code created by the New World Order. The NWO consists of some of the richest people in the world with the goal of overthrowing the US government, some from inside our own government. They are also trying to collapse our currency and appear to be behind all of the “buy gold” hype, not to mention tens of thousands of money making opportunities online and late night infomercials. They’re positioned to make billions by destroying our economy.
  
  The attacks on 9/11 appear to be attacks on capitalism and part of the plan to an all out overthrow of our system of government. The people that make up the New World Order are media moguls, CEO’s and many others elitists. The coup d’etat is also the reason why the CEOs who ran in the last midterm didn’t get elected and why the republicans are taking over.
  
  You will not read about this in the media. Most of the media now has been forced to cooperate or have been paid to cooperate.
  
  Here’s what Osama, Obama, Biden, Bin Laden, the FBI’s Most Wanted Terrorists, and Sarah Palin had to do with the last election and the military’s overthrow of our government. Search ElectNoMoreSpys.blogspot
rapidly, US dollar Debt is not welcome in any other nations.
I LOVE that line: “The welfare/warfare state will end either way, but winding it down responsibly is a far better way to do it.”

CLASSIC, and SO TRUE!!!