Ron Paul on Glenn Beck Regarding Bailouts and Monetary Policy

Key points in this interview:

  • Bailouts and continued printing of money means your currency is devalued, prices go up, and you are effectively taxed to fund these bailouts.
  • The Treasury Secretary and Federal Reserve have no powers to spend money according to the Constitution.
  • These actions only delay the inevitable.  The market will eventually correct this.  As someone pointed out on Twitter last night, it’s only a question of how high up the cliff we want to climb before we jump get thrown off.