YouTube of Ron Paul on Blitzer

[Copernicus]

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Abolition of the Fed, Austrian economics, return to gold standard - disasterous

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Could someone explain why this is disasterous? Talk to me like I'm 10. I recently saw this video on Fiat Empire with Ron Paul, so I'll like to get another point of view.

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Copernicus is under the impression that the government is smart enough to micromanage the economy <font color="red"> dont put words in my mouth </font> and angelic enough to print money without using that power for the purposes that any regular counterfeiter uses that power for. <font color="red"> hyperbole </font>

The rest of us realize that the free market, not governments, produced money in the first place, and that market based moneys have always worked perfectly well until governments interfere and monopolize them. <font color="red">examples? counter examples? </font> Then you get lovely effects like inflation, <font color="red">hyperinflation is government induced, moderate inflation is cyclical and inevitable </font> the business cycle (cyclic booms and depressions), <font color="red"> the govt is responsible for the business cycle???? youre as absurd as Ron Paul on that one </font> and ultimately hyper-inflation, collapse of the medium of exchange, and a return to a barter economy. <font color="red">must be great to have a crystal ball, does it tell you what your river card is going to be also? </font> Yay worthless money!

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There has never really been a long-lasting free market, so I'm not sure how this claim can hold water.

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