EconoMonitor

Ron Paul to Ben Bernanke: ‘People Lose Trust in the Government Because You Lie to Them About Inflation’

Anytime Ron Paul sits across from Ben Bernanke you know sparks will fly. Sure enough, they did: starting 50 seconds into the clip below, Ron Paul, guns blazing, asks the Chairman if he does his own shopping, if he is aware of what true inflation is, and if he knows that Americans don’t trust the government because they are being lied to about inflation. And it only gets better, once Paul starts brandishing a silver coin. The punchline: “The Fed will self-destruct anyway when the money is gone” – amen. And ironically letting the Fed keep on doing what it is doing will achieve that in the fastest possible way. In fact, letting the system cannibalize itself with no further hindrances may be the best option currently available – just go to town.

This post originally appeared at Zero Hedge and is posted with permission.

2 Responses to “Ron Paul to Ben Bernanke: ‘People Lose Trust in the Government Because You Lie to Them About Inflation’”

GuestMarch 1st, 2013 at 4:38 pm

Has Ron Paul looked at the inflation numbers lately? Paul, ZeroHedge, and the rest of the anti-Fed crowd were wrong, they can't admit, and so they look like bigger ninnies every day. We're in a deflationary environment, the financial crisis was largely about liquidity (thus making the Fed's responses appropriate), and austerity and tight monetary policy are extremely inappropriate right now (check out the UK, which is now facing an INCREASING budget deficit despite harsh fiscal measures due to lower economic growth). Contrarian facts are the ultimate test of whether one is an ideologue or not. In this case, it's clear that "Tyler Durden" and Ron Paul are unshakeable ideologues.

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PHåvard Halland is a natural resource economist at the World Bank, where he leads research and policy agendas in the fields of resource-backed infrastructure finance, sovereign wealth fund policy, extractive industries revenue management, and public financial management for the extractive industries sector. Prior to joining the World Bank, he was a delegate and program manager for the International Committee of the Red Cross (ICRC) in the Democratic Republic of the Congo and Colombia. He earned a PhD in economics from the University of Cambridge.