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Penny Unwise, Dollar Insane by Ron Paul
Penny Unwise, Dollar Insane by Ron Paul
Recently by Ron Paul: The Supreme Court and Obamacare
Statement to the Subcommittee on Domestic Monetary Policy Hearing on "The Future of Money: Coin Production," April 17, 2012.
There is an old German saying that goes, "whoever does not respect the penny is not worthy of the dollar." It expresses the sense that those who neglect or ignore the small things cannot be trusted with larger things, and fittingly describes the problems facing both the dollar and our nation today. For nearly a century monetary policy has been delegated to the Federal Reserve System. Congress has ignored the importance of monetary policy and relegated monetary oversight to the sidelines, considering it less important than such matters as welfare spending, warfare spending, and who to tax and how much they should be taxed. While Congress has dithered, the Federal Reserve has destroyed the value of the dollar, so much so that the metal value of our already much-debased token coinage now exceeds its face value…Read more>>
