re: #355 wrenchwench

Ending the Fed and/or giving control of the money supply to Congress would be a disaster.

You really don’t know Ron Paul very well, I’m afraid. If you would, you’d see there’s more to politics than the partisan circus. Libertarians don’t think the state or congress should control money. The current financial crisis is a vindication of their theory that state intervention tends to become abusive, also when the state is only supposed to “manage” money in a fairly minimal way (which is why they get hysteric about seemingly small state interventions and warn for a “slippery slope”. They’ve been vindicated time and again).

Newsflash (for you): not all state spending is financed through taxation or even borrowing. A lot of it is financed through the printing press, and more precisely, through the artificially big growth (or artificially small shrinking) of the monetary base. As a result, savings are being debased, investment bubbles and busts emerge (internet, real estate), while smart investors profit.