Please click on my headline to read the entire article by Ron Paul.
Ludwig von Mises once said: If one rejects laissez faire (An economic doctrine that opposes governmental regulation of, or interference in commerce beyond the minimum necessary for a free enterprise system to operate according to its own economic laws) on account of man's fallibility and moral weakness, one must for the same reason also reject every kind of government action.) Inflation fears are heating up as Fed Chairman Ben Bernanke gave a speech in Boston on Friday, causing further frantic flight into gold by those fearful of the coming "quantitative easing" the Fed is set to deliver in November. Others view gold as a "short term" investment engaged in immediate profit-taking after Bernanke's speech: Gold is more correctly viewed as insurance against bad monetary policy decisions that erode the value of savings. Those bad decisions now keep coming at an even faster clip, and we hear more and more talk of currency wars, especially between the dollar, the Chinese yuan, the Australian dollar, and the Euro. As the economies of the world continue to stagnate or contract, monetary policy decisions become more relevant to people who once thought this topic as arcane.