By: Ron Paul
This speech was given by Congressman Ron Paul on April 25, 2006 before the House of Representatives. It reveals a level of economic understanding that I believe very few politicians have today. Within his lengthy speech Congressman Paul covers every detail of our current economic situation. He explains the history behind his belief in a "commodity" currency (gold standard or an equivalent thereof)and the resulting economic stability. He explains the negative effects and instability that result from an alternative "fiat" currency, which is the precise position we are currently entangled in. And he explains the necessary changes that need to be made to correct the problems. He uses a very painful, yet truthful, analogy to convey his point.
"The best analogy to our affinity for government spending, borrowing, and inflating is that of a drug addict who knows if he doesn’t quit he’ll die; yet he can’t quit because of the heavy price required to overcome the dependency. The right choice is very difficult, but remaining addicted to drugs guarantees the death of the patient, while our addiction to deficit spending, debt, and inflation guarantees the collapse of our economy."
I believe that Congressman Paul is a wise and honest man, he understands where we are headed and where we should be headed. He should be a very strong candidate for future presidential runnings.
