Comments on: Talks with Treasury Secretary Henry Paulson on the Dollar

By: bdg123

bdg123 — Mon, 14 Jul 2008 20:48:29 +0000

It’s nice to see the Treasury employees are as clueless as their leader. China is headed down the shit hole.

By: Sinomania!

Sinomania! — Mon, 14 Jul 2008 18:16:41 +0000

As a former Treasurey employee (1st Clinton administration) I can tell you, the Department of the Treasury belongs and serves Wall Street first. Paulson may be a hack but he is right in the sense that while our financial picture appears dire the USA is still the only game in town. The new Carnegie Endowment report that says China will be number within a generation is probably correct and that only means that the great “rebalancing” of global capital will continue. It doesn’t mean the USA is going into a massive deflation or hyper inflation. The dollar will be one of several important currencies. It may not dominant the world but it is in not going away!

By: Mark W

Mark W — Mon, 14 Jul 2008 13:28:12 +0000

Ron Paul again (unfortunately) proves to be one of the few vocal members of Washington Zoo that understands some of the underlying monetary issues and cares enough to call out those ‘in power’ .

That he was totally marganilzed by the media, and to a large extant, the public, only shows our ignorance as a country. Representative governments aren’t in the business of taking corrective measures that hurt its voting constituents. What kid volunteers to take yucky cough medicine. Same logic applies here. No one wants to fix the knock in the engine till it blows up. I just don’t think we’re really ready for how potentially unsettling our future really can be. Alasa I think its already to late to fix some of the forces already in motion.

By: Richard

Richard — Mon, 14 Jul 2008 13:23:37 +0000

If Ron Pauls philosophy on interest rates became accepted, and implemented, by the FOMC then prepare for one hell of a recession.

Might as well bring back Paul Volcker to let the rates float with the market demands. Don’t worry about prices they all would then come down because the unemployment rate would be 12 percent.

By: tm

tm — Mon, 14 Jul 2008 13:06:26 +0000

Barry, THANK YOU for posting this.
Paulson… “I don’t see a major industrial nation that got better long term fundamentals then we do.”
9 Trillion in debt…
30-40 trillion in coming just social obligations (not counting military, roads, education, etc)
I do not see how we can pay for it.

Dr. Paul, thank you.

By: Notsofastfriend

Notsofastfriend — Mon, 14 Jul 2008 07:06:38 +0000

God I love Ron Paul. He truly gives me hope that somewhere, somehow, someone will wake up the masses before it’s too late. Corruption, greed and dishonest men run this country and they’ll run it into the ground.

By: ssm

ssm — Mon, 14 Jul 2008 05:28:17 +0000

When Paulson says that ‘we are for a strong dollar’ and then talks about foreign currencies, like China’s, he is admitting that what he wants is for the dollar to strengthen through the devaluing of foreign currencies. In other words, if their currency is falling in value faster than ours then our currency is actually strengthening. There’s an idiot born every second.

If the EU were to devalue their currency rapidly, Paulson, Bernanke, and a huge chorus of ‘analysts’ on Wall Street would be singing great praises to the newly strengthened dollar. And it would be pure crap.

If China devalues it’s currency, the same chorus would sing, and the price of all the trinkets at WalMart would go down, but the price of energy would continue it’s death march upward.

The dollar needs to be strengthened, and you do that with US monetary policy, not by asking the other guys to join in on the orgy of printing of fiat money as we have done.

By: Lola

Lola — Mon, 14 Jul 2008 04:48:51 +0000

I was at the mall today. The experience was a nice reminder that the average American is more interested in wearing trendy clothes, fuddling on their cellphone, eating fast food at the food court, and buying flatscreen TV’s as a substitute to paying off a mortgage. These masses are the same ones that make up the bulk of the 0-85th% percentile on all those standardized tests we’ve taken since elementary school. What makes any of you think they are suddenly going to wake up one day and figure out how the banking and monetary system works? Give me a break. They are more interested in the free t-shirt that comes with that “cool” 25% APR credit card.

So long as forms of welfare exist and employment stays above 70-80%, there will be no revolution. Here we are knee-deep in a recession and Walmart is full of the underclass speeding away in their pickup trucks and SUVs. You’d think they’d at least be smart enough to know that slamming on the accelerator uses more of that $4 gas …

We are all trying to co-exist. And since time memoriam, the smart have always figured out how to control the dumb.

If you are smart: own your home — you can always live on rice and beans; spend as little money as possible on a safe and reliable vehicle with the best possible fuel efficiency; take advantage of every legal tax break available; have an estate plan with living trusts and advanced directives; don’t blow your hard earned cash on trendy crap you have been manipulated into buying; and, don’t waste your time getting angry about human nature or politics. There will always be idiots, thieves, and freeloaders. Life is too short to pretend 6 billion people will live in some egalitarian world village trading perfectly valued gold coins. Let’s start with the basics and some more realistic short term goals …

By: Vic

Vic — Mon, 14 Jul 2008 01:51:02 +0000

Ron Paul is the only person in Congress who knows anything about economics. If we had 435 more people like him in Congress we wouldn’t be in this goddamn mess

By: Phil

Phil — Sun, 13 Jul 2008 23:37:51 +0000

regarding the masses…as the wise preacher once said, I spend 90% of my time witnessing to those in the hospital. Most never open their ears to the truth until crises comes.

Well, be of good cheer, it’s almost a full blown crises. Ron Paul for Treasury Secretary.