| GBPPR 'Zine |
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| Issue #102 / The Monthly Journal of the American Hacker / October 2012 |
"It means we are weakening the dollar. We are trying to liquidate our debt through inflation. The consequence of what the Fed is doing is a lot more than just CPI. It has to do with malinvestment and people doing the wrong things at the wrong time. Believe me, there is plenty of that. The one thing that [Ben] Bernanke has not achieved and it frustrates him, I can tell - is he gets no economic growth. He doesn't do anything with the unemployment numbers. I think the country should have panicked over what the Fed is saying that we have lost control and the only thing we have left is massively creating new money out of thin air, which has not worked before, and is not going to work this time."
--- September 13, 2012 quote from Congressman Ron Paul (R-TX) on Boomberg Television's "Street Smart" discussing the Federal Reserve causing inflation by creating even more money out of thin air ($40 billion a month now) via "quantitative easing."
(realclearpolitics.com/video/2012/09/13/ron_paul_fed_creating_new_money_out_of_thin_air.html)
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