Who pays the price for the U.S. government's lack of fiscal responsibility?
*Texas Straight Talk, by Presidential Candidate Ron Paul, September 23, 2007:
"Yes, the money has to come from somewhere, but we are running out
of sources to tap.
Printing more money is the Fed’s typical answer, but we are on the
verge of runaway inflation. We have printed so many dollars now that we
are at parity with the Canadian dollar for the first time since 1976.
Since the Fed stopped publishing M3, which tracks the total supply of
dollars in the economy, we can’t even be sure how many dollars they are
creating. Reported inflation is around 2%, but the method for
calculating inflation changed in the 1980’s, largely at Mr. Greenspan’s
urging. Private economists using the original method find actual
inflation to be over 10%, which matches more closely the pain consumers
in the real economy feel.
The reality is that this type of manipulation of the markets masks
where resources, or money, ultimately comes from. It comes from the
taxpayer."
*This information is solely a highlight of the opinion of a third-party publication and is incomplete. Please subscribe to this publication for the full and timely opinion of the author and call a Monex Account Representative for any additional up-to-date information. This is not an offer to buy or sell precious metals. Investors should obtain advice based on their own individual circumstances and understand the risk before making any investment decision.
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