Monday, April 20, 2015

The Prophetic Ron Paul

-Lew Rockwell
It is always unwise to disagree with Ron Paul on the economy, the warfare state, the welfare state, or civil liberties. He is so right thanks to a first-class mind and vast and deep reading, applied in theory and history. He is also a prophet. Decades ago, he warned, for example, of the “plunge-protection team” at the Treasury and Fed, and that it would intervene to buy stocks and bonds to keep Wall Street happy. Ron was demonized as a conspiracy theorist. Today, it is conventional wisdom that the central bank, guided by the Treasury, does this. Ron is right as well about the deleterious effects.