As part of Antiwar Radio’s week long series on the economic crisis in association with the Campaign for Liberty, Rep. Ron Paul discusses the current financial crisis, payoffs to special interests and arm-twisting in congress to get the next 700 billion dollar bailout through, the role of the war budget in helping to inflate the dollar bubble, the difficulty in getting the media and politicians to understand Austrian monetary theory, how the Fed’s policies send false signals to people in business, leading to bad investments across various markets, necessitating a correction (recession) for prices to reflect reality again, the inflation/heroin junky analogy, the Fed bureaucrats’ inflated belief in themselves, his proposal to re-legalize competing currencies in the free market, the possibility of creating a new Gold Commission [.pdf], and some limited success in teaching congressmen about it.
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