Yesterday, the Congressman also confronted Federal Reserve Chairman Ben Bernanke over what he described as a 35 plus year dollar bubble, telling him “You are probably the biggest taxer in the country”, citing the inflationary fiat money system as the most unfair and regressive form of taxation there is.
A stunned Bernanke put up little resistance and simply agreed with Paul stating, “Congressman, I couldn’t agree with you more that inflation is a tax, and that inflation is currently too high.”
Paul also pointed out that government bail out packages for lenders will inevitably lead to a further increases in the already stratospheric national debt.
Watch Ron Paul once again take Bernanke to school on the economy:
Ron Paul’s entire speech before the House now follows:
Madam Speaker, I have, for the past 35 years, expressed my grave concern for the future of America. The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days–growing more frequent all the time–when I’m convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.