22 November 2010 (Daily Paul)
The Federal Reserve Account Unit of Debt (aka the Federal Reserve Note fiat “dollar”) will tank. Let me repeat that. It WILL tank. The only question is: How fast, how catastrophically, and how much will it hurt?
If it continues its slow slide into oblivion, we will all be hurt, a little at a time, though the least able to afford it will be hurt the most. That’s what’s been happening for decades. In the history of fiat currencies, paper money ALWAYS disintegrates. If the decline accelerates (think Weimar Republic), the residue could be catastrophic, and tyranny will rush in through the window of opportunity.
If Dr Paul and the rest of the hard money advocates get our way, we will put the brakes on the Federal Reserve scam, restabilize the currency, and then we will be facing a mild to severe recession as misspent resources are reallocated into more rational and productive enterprises. Little people will get hurt while the dinosaurs thrash about in their death throes.
If we do nothing, then we face even greater danger (think of the immediate heirs to the Weimar Republic.)
That’s our challenge. We must try to sell immediate and certain economic discomfort as the only means to avoid greater and inevitable trauma. Promoting certain discomfort is an almost impossible political sell, but the only alternative to imminent discomfort is disaster, and the likeliest alternative to political correction is an orgy of violence not seen on this continent since the War Against the States.
I try to be optimistic and advocate for political salvation, but I’m also stocking up on gold, silver, canned goods, clean water, high test hootch, toilet paper, and ammunition.