The economic situation continues to deteriorate this week as past and future bailouts were discussed on Capitol Hill. The debate was over the accountability of already disbursed TARP money, and on whether or not to release remaining funds. Banks that had already been bailed out before are looking for more money to fill the black holes that are their balance sheets, warning that they are simply too big to fail. However, whatever ‘devastating’ consequences these banks are dreaming up and pushing on Capitol Hill regarding their own collapse will be nothing compared to the collapse of our currency if we keep debasing it through these foolish bailouts. It should be that they are too big to bailout. The world will not come to an end without this or that bank. The most troubling thing to me is this rhetoric that only government can save the economy, and must act. This is so counter-productive. FULL ARTICLE
|
|









2 comments ↓
Another great article by Dr. Paul!
For some further reading – and a greater understanding of monetary policy, read Murray Rothbard’s “What Has Government Done to our Money?”
It’s an invaluable resource.
Weakening! with every thing they do, it’s going to get worse. The best thing the government can do is just get out of the way. The economy will continue its crash, but will actually be able to recover.
Leave a Comment