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Ron Paul: We Face a 15-Year Depression

Von: Michael Ejercito (mejercit@hotmail.com) [Profil]
Datum: 23.03.2009 17:59
Message-ID: <753a0f48-7442-432d-bb27-5ae1d25e3a03@k19g2000prh.googlegroups.com>
Newsgroup: talk.politics.misc alt.politics.economics alt.current-events

Ron Paul: We Face a 15-Year Depression
Posted by Lew Rockwell at March 23, 2009 10:29 AM

Reports the Financial Times:

Pension trustees and insurance company portfolio managers look
away now. Your increased commitment to government bond holdings in
recent times is about to blow up spectacularly.

At least, that is the view of Ron Paul, the US congressman who ran
against John McCain in last year’s Republican Party presidential

His is a minority view. Yields on government bonds worldwide have
been falling fast over the past few months and in the UK, the
commencement of “quantitative easing” this month sent bond prices
But the credibility of both western governments and their
currencies is waning, and has been ever since the gold standard was
abandoned in 1971, says Mr Paul. And that means even “safe”
investments are far from safe, he claims.

“People will start to abandon the dollar as current and past
economic policies create a steep rise in interest rates,” Mr Paul

“If you are in Treasuries, you will need to be watchful and nimble
to time your escape.”

Unfortunately, cashing out will not protect the value of
investments, he insists, because “fiat” currencies will all decline
over the coming years as measures to try to haul the world economy out
of recession fail. “The current stimulus measures are making things a
lot worse,” says Mr Paul.

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