Start the tape at 10 minutes for Federal Reserve commentary!
Very interesting comments from the man who should have won the 2012 Republican nomination.
"It is much easier to prevent this problem then it is taking care of it. And once it hits, the most important thing is allowing the correction to occur. Get off this kick that spending will solve our problems, printing will solve our problems and that debt doesn't matter. You have to try to eliminate the mistakes just like an individual who is trying to get back on their feet but all they do is pay debt. They have to liquidate debt one way or another."
"They will not liquidate the debt by paying the people who own Treasury bills; it will be liquidated through inflation. And that is what the Fed is desperately trying to do."
I highly recommend people listen to Ron Paul speak on this issue.
