February 26, 2009
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RELATED TICKERS: BAC
Ron Paul recognizes that we are at the end of an era. The banking system is busted. Only he says this: "Fiat money is not capital."
Capital comes from thrift, not digits. Bernanke and Congress think otherwise.
Bernanke taught economics -- Keynesian economics. Keynesian economics is incarnated in two things: budget deficits and the 1944 Bretton Woods agreement on international money. The second has blown up. The first will bankrupt the government.
It is nice to see a gynecologist teach Austrian economics to a man whose beliefs have blown up in his face in full public view, and will continue to blow up until he is replaced as Chairman.
Dr Faber explains Bernanke Economics
Ron Paul is my President.