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Ron Paul Liberty Report

U.S. Is "Postponing" The Default By Accelerating The Default

Ron Paul Liberty Report

Ron Paul Liberty Report

News

4.92.3K Ratings

🗓️ 10 December 2021

⏱️ 23 minutes

🧾️ Download transcript

Summary

One strategy of avoiding default is to stop going into debt that you can never manage. Another (very odd) strategy is to keep going into debt and pretend that everything is OK. One strategy of halting rising prices, is to stop printing new dollars out-of-thin-air. Another (very odd) strategy is to keep printing dollars and pretend that everything will be OK. What the U.S. government is doing is very odd. Everything is not OK.

Transcript

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0:00.0

Hello everybody and thank you for tuning in to the Liberty Report.

0:04.5

With us today is Chris Rosini, our co-host, Chris.

0:08.8

Welcome to the program.

0:09.8

Great to be with you, Dr. Paul.

0:11.6

Good.

0:12.6

We're going to solve the problem of the budget.

0:15.0

You know, they're fussing around there and the confusion is bipartisan because they don't

0:20.6

think they should be spending so much money because the people don't like that and yet

0:25.4

all they do is work hard.

0:27.3

How do you do it and try to fool the people?

0:30.1

And that's what they're trying to do.

0:31.8

But ultimately I've argued the case that the two things when you know they're losing control

0:36.9

is prices will go up and the people will rebel and that's what the CPI was telling us today.

0:42.7

Prices are going up and they're worried about that.

0:45.0

And along with this eventually you're going to see rising interest rates and then you're

0:49.0

going to see the unwinding of trillions and trillions of dollars of debt that has been

0:54.2

monetized over the last decade or longer.

0:57.5

I mean that's been the policy.

1:00.0

So this was a big morning today Chris because all of a sudden they said record high price

1:07.2

inflation, record high sits to 70s and the year over year price inflation is almost 7%

1:16.6

and if you really measure it by how the economist John Williams measures this it's well over

1:23.2

10%.

...

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