The Ron Paul Experience
The financial crisis has fully exposed the intellectual bankruptcy of the world’s central bankers.
Why? Central bankers neglect the fact that interest rates are prices. Manipulating those prices through credit expansion or contraction has real and deleterious effects on the economy. Yet while socialism and centralised [sic] economic planning have largely been rejected by free-market economists, the myth persists that central banks are a necessary component of market economies.
Snip to the bottom line:
Printing unlimited amounts of money does not lead to unlimited prosperity.
If Paul had earlier come around on a few more issues, the nomination—in my mind—could have been his. But he didn’t.