Peak Oil is You
Donate Bitcoins ;-) or Paypal :-)
Page added on June 12, 2011
Ron Paul: inflation will hit 50 percent
Texas congressman Ron Paul on Friday predicted that inflation will hit 50 percent in the next couple of years, thanks to the massive debt the country has accumulated.
Paul, who spoke to admirers and Republican activists at a Manchester house party, said the inflation will act like default.
Social Security checks will still be cut and interest payments will still be made, but the inflated dollars will allow the government to repay borrowed dollars with devalued money, Paul said.
“They cannot pay the debt,” he said. “I don’t think that means you shouldn’t try and work things out, but with the size of this debt it never gets paid.”
The national debt is about $14.3 trillion.
Paul spoke to about 150 people at the home of Ovide and Bettie Lamontagne, who are hosting receptions for candidates in the Republican presidential primary.
The Texas physician is the sixth candidate to appear at their Young Street home.
Paul ranked second, with 9 percent of support, in the latest CNN/WMUR New Hampshire Primary Poll, which was conducted in mid-May. He was a distant second to former Massachusetts Gov. Mitt Romney but ahead of popular names such as Rudy Giuliani, Sarah Palin and Newt Gingrich.
In remarks to the crowd, Paul praised the pro-liberty leanings of New Hampshire and joked that his slogan is on New Hampshire license plates.
As a candidate four years ago, Paul was shut out of some Republican primary debates, but he said his credibility has grown since then, in part because of numerous television appearances over the last three years.
He told a reporter that former New Mexico Gov. Gary Johnson should be allowed into Monday’s debate, which is sponsored by the New Hampshire Union Leader, CNN and WMUR.
“He should be there. He’s been a governor for two terms,” Paul said.
Paul touched on many of his popular topics, but with some softening signs. The Federal Reserve should be abolished – eventually, he said.
He voted against the Republican’s Path to Prosperity, but he doesn’t attack it because Congressman Paul Ryan has gotten clobbered for it, he said.
And although he’s called Dr. No, Paul is really an optimist, he said.
In addressing one question, Paul said the country’s soldiers face rules of engagement because they have gotten bogged down doing social work and police duties.
“If you go to war, you fight a war,” Paul said.
John Kroehler, the commander of the Bedford VFW, asked Paul the question. He said he liked Paul’s answer, and U.S. troops should no longer be in Afghanistan and Iraq.
“Our obligation,” Kroehler said, “is to protect the country, not be the world’s policeman.”
8 Comments on "Ron Paul: inflation will hit 50 percent"
PrestonSturges on Sun, 12th Jun 2011 11:01 pm
OK, so why hasn’t inflation hit %50 in the countries that have bigger debt than us?
Ron Paul’s “gold bug” theories have been around since the 1930s. Of course, on a long enough time line you can name any rate of inflation.
It’s not really clear how we would survive with zero capital creation, or how the economy would function where a few people can literally own all the wealth of the nation in the form of a few ingot of shiny metal. But if the value of every thing is equal to the very finite total amount of gold, that would probably make your house worth a golden thimble. Hows that for inflation?
Bloomer on Mon, 13th Jun 2011 12:43 am
High unemployment, huge debt loads a depressed economy, I forcast deflation as it will takes years to unwind the enormus amount of debt floating around. Japan like economics. A devalued dollar will simply mean people will purchase less goods.Their incomes aren’t rising.
Dusko on Mon, 13th Jun 2011 12:53 am
Where’s the inflation. The only reason prices are rising is because of the money pumped into the bailout bubble.
I also think serious deflation is coming. Are the banksters really going to let people keep their homes and have their debts wiped out without a single payment?
Indentured servitude would be threatened under devaluation or inflation so I don’t think it will happen. Deflation on the other hand means more money in the pockets of the elites and they can buy up real assets for next to nothing.
Hold your money and wait to buy the S&P below 400. And gold below 600-700.
George Washington on Mon, 13th Jun 2011 2:10 am
Constitutionally, legislatively, and morally, Ron Paul has no equal. His 22 year voting record speaks for itself.
Mr. Paul has not survived in politics for 22 years and maintain the ethics and morality he has by being anything other than stellar.
If You refute the above comment, then I please invite You to listen to him speak about key issues. It is amazing how well he comes across because he doesn’t have to remember lies like other politicians. He understands what is happening in the world and knows how to apply the basic principles of liberty to achieve the real change that America so desperately deserves.
American to American we are all on the same team. So I present Mr. Ron Paul as my Candidate for 2011 and invite anybody to meaningfully and respectfully debate why he is not the best for American and its people in 2012.
Ron Paul = A real change, not for special interest, but for America’s Interests!
Thank You for Your time
Ron Paul 2012
PrestonSturges on Mon, 13th Jun 2011 7:39 am
Meh.
RP is a favorite of militia pinheads and successionists, including folks who seem to spend too much time fantasizing about some sort of race war where they get to bag lots of brown people. His web site had to clamp down on all the “FEMA camp” crap maybe two years ago. That sort of tarnishes his reputation for honesty and deep thought.
NadePaulKuciGravMcKi on Mon, 13th Jun 2011 10:18 am
#WMURDebate
for those about to rock
.. WE SALUTE YOU ..
#WMURDebate
Makati1 on Mon, 13th Jun 2011 10:26 am
Actually, I have read similar projections on several other sites by different economists. They projected 14% this year, 25%+ next year, and 50% in 2013…IF QE3 happens. So far this year we are over 10% in real inflation (US lies are for the stupid sheeple) and could well surpass 14% before the end of the year. What do you buy? Gas? Food? Energy? Have you bought copper pipe lately? Deflation is happening only in homes and commercial properties, nothing that is bought everyday.
Makati1 on Mon, 13th Jun 2011 10:35 am
BTW: Preston…the FEMA camps are real.
They have been built to house ‘disaster refugees’ but are in reality, detainment camps for protesters and rioters.
http://www.associatedcontent.com/article/1528820/are_fema_concentration_camps_real.html
http://www.libertythink.com/modules.php?name=News&file=article&sid=1062
http://poleshiftsurvival.blogspot.com/2007/10/fema-containment-camps.html
Just because ‘news’ does not come thru the approved corporate media, does not make it fiction. Real news always comes in the back door in Police States like the US.