July 17th, 2008 - It seemed that
Ron Paul was everywhere today, and that everyone was in agreement with him.
Let’s start with Fed Chairman Bernanke: “Congressman, I couldn’t agree with you more that inflation is a tax, and that inflation is currently too high.”
Fox News reporter Alexis Glick: “If we’re opening the discount window to Fannie, to Freddie, to every broker dealer, and the commercial banks already have access to it, and the printing presses are in overdrive, we’re going to continue to knock the U.S. Dollar down…”
CNBC anchor Larry Kudlow: “Oh, Mr. Paul! I heard [you accusing Fed Chairman Bernanke of being the biggest taxer in the country] this morning and I got so excited sir I just had to have you on! I’m so glad you’re around today. I say almost nightly that inflation is the cruelest tax of all.”
Talk show host Jerry Bowyer: “I think Ron Paul is right on the policy side, where he says that the Fed has been far too loose and they are devaluing our coinage.”
Stock analyst Joe Battipaglia: “Now you’ve got government policy run amok, and the central banker coming in behind to make sure there is no failure, puff up the economy, create more credit and keep the bubbles going. It is a very bad mixture.”
Portfolio Manager Jim Lacamp: “It’s a fiat monetary currency system, and when you have something like that it builds up a bigger and bigger mountain of debt and creates asset bubbles just like Joe said…Fannie Mae and Freddie Mac are poster [children] for why we should not have government involvement in our financial system…These are socialistic enterprises that were allowed to create bad business models because of this implied government backing.”
The only person who disagreed was the guy in the huge green bow tie, the token defender of the Fed. My, my, how things have changed!
Glenn Beck says, “I don’t agree with you on everything, but on finances, I do agree. And you’ve been right on finances. And America is just catching up to you.”
Finally! Catching up, indeed.