Sunday, November 16, 2008

The reality of this "global economic summit"

I know economics bores most people, including me. But I found this five minute clip by Ron Paul to be an easy-to-understand explanation on the meaning / history / future of Bush's G20 economic summit. I hope you watch it. The issues involved (the value and very existence of the US dollar) are far more important to the future of the republic, than anything happening here in Cheshire:
My solution for American economic woes is fairly simple - legalize the U.S. Constitution:

The Congress shall have Power To... coin Money, regulate the Value thereof, and of foreign Coin, and fix the Standards of Weights and Measures.

A well tailored suit costs about $800 today... or one oz. of gold. 100 years ago*, a well tailored suit also cost about one ounce of gold.

We need to return to sound money.

Tim White

* 100 years ago was before the creation of America's current central bank - The Fed.

2 comments:

Anonymous said...

Tim, if you are paying $800 for a suit you obviously have more disposable income than the rest of us

tim white said...

I didn't say I was paying that much. It was an example of how the dollar is devaluing, but gold retains its value because government can't print it.