Ron Paul on U.S. Fed QE: Prepare for the Destruction of the Dollar

TEXAS (Sept 21)  Dr. Ron Paul, a former republican member of U.S. Congress from Texas discussed the Fed decision on Fox Business News segment, After the Bell.

David Asman: What do you think about the Fed’s decision to continue money printing?

Dr Paul: I think it’s a very bad sign I think it means the Fed is really worried.

David Asman: Worried about what?

Dr Paul: About the economy. They are always bragging that things are really well, employment is up. The seed of deception that they put out there is that things are really good. So now they are saying no now it isn’t good and we have to keep inflating. So I think it's a bad sign but the markets liked it.

David Asman: The bond rates have fallen tremendously today 16 basis points (2.69%).

Dr Paul: Yes. But you wait and see the trend will be zig zagging up. The prices are going up and standard of living is going down. The worst political problem we have is the discrepancy between the poor and middle class and the wealthy.

David Asman: What happens now? If it’s Yellin she'll be like Bernanke on steroids. What does that mean for our economy?

Dr Paul: Prepare for the destruction of the dollar and the crash of the bond market one day. The bond bubble is weakening although the interest rates have doubled in the last year.

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