Recently, Ron Paul, an American economist and former politician, discussed rising tensions between China, Taiwan and the U.S. in an interview. He also spoke about the U.S. economic situation. Paul insists that the U.S. economy’s “collapse will come,” and he further stressed that “debt has to be liquidated.”
‘End the Fed’ Evangelist Ron Paul Says the ‘Real World Cannot Run on Lies’
This was the former candidate 2008 for the presidency in the United States. Ron PaulThe U.S. government seems out of control, according to. Paul’s stance against limited government, Austrian economics and sound money is well-known. The former U.S. Representative from Texas stated that Joe Biden’s administration and current president have diverged from the truth three days ago.
“With each passing day, the Biden Administration drifts further [and] further from reality,” Paul explainedIn a tweet. “Politicians are notorious for practicing deception, but when lying becomes constant, even it starts to lose its ‘effectiveness.’ The truth [and]For those who can speak it, they are a breath of fresh oxygen. The painful economic realities of government spending and Fed inflation are staring every American in the face.” Paul’s critical tweet storm continued:
Yet, we’re repeatedly told not [to] trust our lying eyes — ‘There’s no recession,’ ‘Inflation was 0%,’ [and]These reckless spending laws are then followed up by further government spending. Washington DC is not the real thing. It is impossible for the real world to run on lies.
Sound Money Advocate Insists ‘Debt Has to Be Liquidated’
A few days before these statements, the former congressman talked about Nancy Pelosi’s visit to Taiwan and the tensions between China and Taiwan. David Lin was the Kitco News anchor and producer.
Paul spoke also about the U.S. Economy and shared a similar opinion to Peter Schiff, who discussed the decline of the U.S. Dollar with the Kitco News anchor that same day. During the conversation, Paul criticized the Inflation Reduction Act, and he doesn’t believe the bill will do anything.
“The only way [the federal] debt is going to be liquidated, which is absolutely necessary over a period of time to get the market working again … is by inflation,” Paul told Lin. “The collapse will come … The debt has to be liquidated. My preference would be [for the U.S. government] to quit spending. Budget balance. Don’t accumulate any more debt. But politically, having spent a little bit of time in Washington, it’s not going to happen.” Paul added:
I’m talking about the inevitable collapse of the economy, because we won’t be able to afford it, and that can come quickly. The debt is there, and we’re not going to pay it off in a normal, honorable, moral fashion. We are going to continue until the market wins — There has to be a default, and the default comes from paying off the bills with printed money.
Paul Opines That He Knows the Solution but ‘Politically, Nobody Will Allow It’
Paul is joining a group of analysts and investors who expect doom for the U.S. economic system. Billionaire Investor Bill Ackman believes if the Fed doesn’t continue its aggressive rate hikes, the stock market could crash and catalyze an economic collapse. Rich Dad Poor Dad’s Robert Kiyosaki has warned on many occasions that rising inflation could lead to a ‘Greater Depression.’ The third-richest billionaire in Mexico, Ricardo Salinas Pliego, recently explained that the U.S. could experience severe inflation. Furthermore, people believe that Russia, China, and the BRICS nations are targeting the U.S. dollar’s hegemony as the five nations plan to craft a new international reserve currency.
Paul said he doesn’t know when the economic collapse will happen and remarked “we don’t know what the precipitating event will be.” Although, the former congressman said, “it’s just starting.” “With the middle class and the poor right now, the poor are out on the streets and the middle class can’t pay their bills,” Paul stressed during the interview. The interview concluded with Paul stating that there was a solution, and U.S. officials would need to work in a totally different manner from what they are doing today. Paul also outlined:
Politically, nobody will allow it … What they should do is quit spending money, bring all our troops home, give up on the welfare state, and turn us into a Republic.
What do you think about Ron Paul’s outlook concerning the U.S. economy and how he believes a collapse is inevitable? Comment below to share your thoughts on the subject.
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