On July 9th, Congressman Ron Paul warned the House of Representatives that a major economic calamity was immanent. Two months later, and we now see it unfolding, a financial crisis that will likely go down in history as the collapse of the post-Bretton Woods monetary system. Dr. Paul, nicknamed "Dr. No" by his congressional colleagues for his proclivity to vote No against anything not specifically mandated by the Constitution, has long been a critic of the "fiat money" of the Federal Reserve.
Here are a few of his exchanges with fed chairman Ben Bernanke:
February 19 2007
November 9 2007
February 27 2008
April 2 2008
July 16 2008
and most recently...
September 25 2008
Update, Sept 29
Ron Paul wasn't the only "Dr. No" in congress today, as he was joined by 227 others in voting down the Wall St. bailout bill. Here are a few...
And finally, Ron Paul
Update, Oct. 3
As it turns out, the nixing was only temporary. The bill, dubbed the Emergency Economic Stabilization Act of 2008 (H.R. 1424) - described by some as the consummation of corporate socialism - was passed by the Senate late Wednesday, and by the House on Friday.
For his part, John McCain lamented the initial failure, but given his aspirations, today he has something to look forward to...