Thursday, February 26, 2009
Ron Paul schooled Bernanke and Congress this week on some basic economic principles. Here are some of his best quotes:
You can't reinflate the bubble!Watch:
If we think we can patch up a system that has failed, it's not going to work.
We have a total misunderstanding of what credit is, versus capital. Capital can't come from the thin-air creation by a Federal Reserve system, capital has to come from savings. We work hard, produce, live within our means, and what is leftover is called capital. This whole idea that we can 're-capitalize' markets by merely turning on the printing presses and increasing credit is a total fallacy.
The Federal Reserve is the culprit!