(ed. Far from providing a solution to the immense financial problems that are not shaking world banks, the
Fed's recent .50% rate reduction will not solve the problem one iota.
In fact, the rate reduction will not help do anything but add further downward pressure on the already sinking dollar.
And, if some economist's predictions are correct, it will be the precipitating event to cause a major run on our currency.
Read what Ron Paul, a republican candidate for president, has to say. Remember Paul is the ONLY candidate from either party to stand up for our Republic, our Constitution, our Bill of Right and protest the dastardly unconstitutional and inhumane acts by the bush administration and congress which have created a doomsday scenario for America and all Americans.
Wake up people before we are all standing in long bread lines, soup-kitchens or situations far worse.)
Ron Paul Confronts Fed Chair on Deliberately Destroying the Dollar
Paul Joseph Watson
Ron Paul has slammed Federal Reserve Chairman Ben Bernanke for deliberately depreciating the value of the dollar to artificially bail out Wall Street while poor and middle class people lose their homes and have their living standards lowered.
During a Banking Committee hearing on Capitol Hill today, the Texas Congressman confronted Bernanke and accused the Fed of trying to solve the problem of inflation with more inflation by creating artificially low interest rates that have no effect because of the dollar's weakness.
Paul questioned how it could ever be morally justifiable to deliberately depreciate the dollar and pointed out the fact that the dollar collapse was a deliberate policy on behalf of the Fed.
Bernanke, Treasury Secretary Henry Paulson and Alan Greenspan have all been busy bad-mouthing the dollar over the past few weeks even as major players like China and Saudi Arabia consider dumping US treasuries, a move that would immediately trigger a dollar meltdown.
Ron Paul identifies the true culprits of the planned economic implosion while the establishment media and the yuppies celebrate the hollow "solution" of an interest rate cut that has no substantive benefit and only increases the risk of another depression by sinking the dollar to historic lows and ensuring foreign holders of US debt run for the door at breakneck speed.