Ron Paul: Social Security & Fractional Reserve Banking are Ponzis that Dwarf Madoff

January 2009
M	T	W	T	F	S	S
« Dec		Feb »
	1	2	3	4
5	6	7	8	9	10	11
12	13	14	15	16	17	18
19	20	21	22	23	24	25
26	27	28	29	30	31

By John M.

Big hat to to Tim for finding this YouTube.[1]

—————————-

[1]: "Ron Paul on U.S. Government Ponzi schemes", by Tim Iacono, The Mess that Greenspan Made, January 5, 2009.

This entry is filed under Bailouts, Credit Contraction, Politics. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

surak says:

January 6th, 2009 at 7:29 pm

I only agree with half of what he is saying. Either lack of regulation or the lack of enforcement of the regulations got us into this mess. A good example is the elimination of the Glass/Steagall Act.

I do agree with him that the people of the SEC are not given any teeth and it is not their fault (not unlike most federal regulatory agencies). Everything is ruled by Congress and Congress wants to give the public a false sense of security and spend money on the appearance that laws (regulation is law) are being followed and enforced.

AZSALUKI says:

January 7th, 2009 at 11:26 am

i couldn’t agree with you more. i’ve been wondering for a year why more people hadn’t brought up the repeal of the glass/steagall act???? in my opinion, you can trace this entire mess back to that. it’s no coincidence that when we did away with an act that was a direct result of the depression, we are where we are less than 10 years later!!!

surak says:

January 7th, 2009 at 4:23 pm

Thanks AZSALUKI

Usually I agree with Ron Paul.

Igor says “astounded”

Housing Doom

“He who defends everything defends nothing.” - Frederick the Great

Ron Paul: Social Security & Fractional Reserve Banking are Ponzis that Dwarf Madoff