Carolina QuotesA paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $776 billion; today it stands at $8.9 trillion, an 1100% increase. Our national debt in 1971 was $408 billion; today it stands at $6.8 trillion, a 1600% increase. Since that time, our dollar has lost almost 80% of its purchasing power. Common sense tells us that this process is not sustainable and something has to give. So far, no one in Washington seems interested.
Ron Paul Connected to the Carolinas
Source
Paper Money and Tyranny, September 5, 2003
- work
- 2001-2005
- year
- 2001
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“A paper monetary standard means there are no restraints on t…” Ron Paul. Carolina Quotes, record CQ-984CD07E67. https://carolinaquotes.com/quote/984cd07e67
More from Ron Paul
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Truth is treason in the empire of lies.
Let me see if I get this right. We need to borrow $10 billion from China, and then we give it to Musharraf, who is a military dictator, who overthrew an elected government. And then we go to war, we lose all these lives promoting democracy in Iraq. I mean, what's going on here?