'chaos About To Be Unleashed' - How Will Thailand Fare?

[awakened]

This speech by Ron Paul, one of the few decent men left in American politics is a wake up call to everyone, no matter what country. Since he says "The world economy and political system will share in the chaos about to be unleashed." I feel it is absolutely appropriate to post it in this Forum.

I also think the global media silence on this is criminal.

'Texas Congressman Ron Paul has warned the House that he is "convinced the time is now upon us that some Big Events are about to occur." that will cause liberty to go "into deep hibernation".

Paul told the House:

"These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed."

"There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it's been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers." Paul continued.

In one of Paul's most memorable speeches to date, the Congressman spoke of rampant authoritarianism having replaced the principles of liberty that the United States was founded upon and warned that current empire building financed through inflation and debt signals a most frightening period in history.

"Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world's populations. Just think how our personal liberties have been trashed here at home in the last decade." Paul urged fellow representatives.

Paul outlined the history of the current economic crisis and alluded to key events such as the inception of the Federal Reserve System, the creation of the Bretton-Woods Monetary System and the creation of a "dollar bubble".

"This bubble is different and bigger for another reason." Paul argued.

"The central banks of the world secretly collude to centrally plan the world economy. I'm convinced that agreements among central banks to "monetize" U.S. debt these past 15 years have existed, although secretly and out of the reach of any oversight of anyone--especially the U.S. Congress that doesn't care, or just flat doesn't understand."

Yesterday, the Congressman also confronted Federal Reserve Chairman Ben Bernanke over what he described as a 35 plus year dollar bubble, telling him "You are probably the biggest taxer in the country", citing the inflationary fiat money system as the most unfair and regressive form of taxation there is.

A stunned Bernanke put up little resistance and simply agreed with Paul, stating "Congressman, I couldn't agree with you more that inflation is a tax, and that inflation is currently too high."

Paul also pointed out that government bail out packages for lenders will inevitably lead to a further increases in the already stratospheric national debt.

Ron Paul's entire speech before the House now follows:

Madam Speaker, I have, for the past 35 years, expressed my grave concern for the future of America . The course we have taken over the past century has threatened our liberties, security and prosperity. In spite of these long-held concerns, I have days--growing more frequent all the time--when I'm convinced the time is now upon us that some Big Events are about to occur. These fast-approaching events will not go unnoticed. They will affect all of us. They will not be limited to just some areas of our country. The world economy and political system will share in the chaos about to be unleashed.

Though the world has long suffered from the senselessness of wars that should have been avoided, my greatest fear is that the course on which we find ourselves will bring even greater conflict and economic suffering to the innocent people of the world--unless we quickly change our ways.

America , with her traditions of free markets and property rights, led the way toward great wealth and progress throughout the world as well as at home. Since we have lost our confidence in the principles of liberty, self reliance, hard work and frugality, and instead took on empire building, financed through inflation and debt, all this has changed. This is indeed frightening and an historic event.

The problem we face is not new in history. Authoritarianism has been around a long time. For centuries, inflation and debt have been used by tyrants to hold power, promote aggression, and provide "bread and circuses" for the people. The notion that a country can afford "guns and butter" with no significant penalty existed even before the 1960s when it became a popular slogan. It was then, though, we were told the Vietnam War and the massive expansion of the welfare state were not problems. The seventies proved that assumption wrong.

Today things are different from even ancient times or the 1970s. There is something to the argument that we are now a global economy. The world has more people and is more integrated due to modern technology, communications, and travel. If modern technology had been used to promote the ideas of liberty, free markets, sound money and trade, it would have ushered in a new golden age--a globalism we could accept.

Instead, the wealth and freedom we now enjoy are shrinking and rest upon a fragile philosophic infrastructure. It is not unlike the levies and bridges in our own country that our system of war and welfare has caused us to ignore.

I'm fearful that my concerns have been legitimate and may even be worse than I first thought. They are now at our doorstep. Time is short for making a course correction before this grand experiment in liberty goes into deep hibernation.

There are reasons to believe this coming crisis is different and bigger than the world has ever experienced. Instead of using globalism in a positive fashion, it's been used to globalize all of the mistakes of the politicians, bureaucrats and central bankers.

Being an unchallenged sole superpower was never accepted by us with a sense of humility and respect. Our arrogance and aggressiveness have been used to promote a world empire backed by the most powerful army of history. This type of globalist intervention creates problems for all citizens of the world and fails to contribute to the well-being of the world's populations. Just think how our personal liberties have been trashed here at home in the last decade.

The financial crisis, still in its early stages, is apparent to everyone: gasoline prices over $4 a gallon; skyrocketing education and medical-care costs; the collapse of the housing bubble; the bursting of the NASDAQ bubble; stock markets plunging; unemployment rising; massive underemployment; excessive government debt; and unmanageable personal debt. Little doubt exists as to whether we'll get stagflation. The question that will soon be asked is: When will the stagflation become an inflationary depression?

There are various reasons that the world economy has been globalized and the problems we face are worldwide. We cannot understand what we're facing without understanding fiat money and the long-developing dollar bubble.

There were several stages. From the inception of the Federal Reserve System in 1913 to 1933, the Central Bank established itself as the official dollar manager. By 1933, Americans could no longer own gold, thus removing restraint on the Federal Reserve to inflate for war and welfare.

By 1945, further restraints were removed by creating the Bretton-Woods Monetary System making the dollar the reserve currency of the world. This system lasted up until 1971. During the period between 1945 and 1971, some restraints on the Fed remained in place. Foreigners, but not Americans, could convert dollars to gold at $35 an ounce. Due to the excessive dollars being created, that system came to an end in 1971.

It's the post Bretton-Woods system that was responsible for globalizing inflation and markets and for generating a gigantic worldwide dollar bubble. That bubble is now bursting, and we're seeing what it's like to suffer the consequences of the many previous economic errors.

Ironically in these past 35 years, we have benefited from this very flawed system. Because the world accepted dollars as if they were gold, we only had to counterfeit more dollars, spend them overseas (indirectly encouraging our jobs to go overseas as well) and enjoy unearned prosperity. Those who took our dollars and gave us goods and services were only too anxious to loan those dollars back to us. This allowed us to export our inflation and delay the consequences we now are starting to see.

But it was never destined to last, and now we have to pay the piper. Our huge foreign debt must be paid or liquidated. Our entitlements are coming due just as the world has become more reluctant to hold dollars. The consequence of that decision is price inflation in this country--and that's what we are witnessing today. Already price inflation overseas is even higher than here at home as a consequence of foreign central banks' willingness to monetize our debt.

Printing dollars over long periods of time may not immediately push prices up--yet in time it always does. Now we're seeing catch-up for past inflating of the monetary supply. As bad as it is today with $4 a gallon gasoline, this is just the beginning. It's a gross distraction to hound away at "drill, drill, drill" as a solution to the dollar crisis and high gasoline prices. Its okay to let the market increase supplies and drill, but that issue is a gross distraction from the sins of deficits and Federal Reserve monetary shenanigans.

This bubble is different and bigger for another reason. The central banks of the world secretly collude to centrally plan the world economy. I'm convinced that agreements among central banks to "monetize" U.S. debt these past 15 years have existed, although secretly and out of the reach of any oversight of anyone--especially the U.S. Congress that doesn't care, or just flat doesn't understand. As this "gift" to us comes to an end, our problems worsen. The central banks and the various governments are very powerful, but eventually the markets overwhelm when the people who get stuck holding the bag (of bad dollars) catch on and spend the dollars into the economy with emotional zeal, thus igniting inflationary fever.

This time--since there are so many dollars and so many countries involved--the Fed has been able to "paper" over every approaching crisis for the past 15 years, especially with Alan Greenspan as Chairman of the Federal Reserve Board, which has allowed the bubble to become history's greatest.

The mistakes made with excessive credit at artificially low rates are huge, and the market is demanding a correction. This involves excessive debt, misdirected investments, over-investments, and all the other problems caused by the government when spending the money they should never have had. Foreign militarism, welfare handouts and $80 trillion entitlement promises are all coming to an end. We don't have the money or the wealth-creating capacity to catch up and care for all the needs that now exist because we rejected the market economy, sound money, self reliance and the principles of liberty.

Since the correction of all this misallocation of resources is necessary and must come, one can look for some good that may come as this "Big Event" unfolds.

There are two choices that people can make. The one choice that is unavailable to us is to limp along with the status quo and prop up the system with more debt, inflation and lies. That won't happen.

One of the two choices, and the one chosen so often by government in the past is that of rejecting the principles of liberty and resorting to even bigger and more authoritarian government. Some argue that giving dictatorial powers to the President, just as we have allowed him to run the American empire, is what we should do. That's the great danger, and in this post-911 atmosphere, too many Americans are seeking safety over freedom. We have already lost too many of our personal liberties already. Real fear of economic collapse could prompt central planners to act to such a degree that the New Deal of the 30's might look like Jefferson 's Declaration of Independence.

The more the government is allowed to do in taking over and running the economy, the deeper the depression gets and the longer it lasts. That was the story of the 30s and the early 40s, and the same mistakes are likely to be made again if we do not wake up.

But the good news is that it need not be so bad if we do the right thing. I saw "Something Big" happening in the past 18 months on the campaign trail. I was encouraged that we are capable of waking up and doing the right thing. I have literally met thousands of high school and college kids who are quite willing to accept the challenge and responsibility of a free society and reject the cradle-to-grave welfare that is promised them by so many do-good politicians.

If more hear the message of liberty, more will join in this effort. The failure of our foreign policy, welfare system, and monetary policies and virtually all government solutions are so readily apparent, it doesn't take that much convincing. But the positive message of how freedom works and why it's possible is what is urgently needed.

One of the best parts of accepting self reliance in a free society is that true personal satisfaction with one's own life can be achieved. This doesn't happen when the government assumes the role of guardian, parent or provider, because it eliminates a sense of pride. But the real problem is the government can't provide the safety and economic security that it claims. The so called good that government claims it can deliver is always achieved at the expense of someone else's freedom. It's a failed system and the young people know it.

Restoring a free society doesn't eliminate the need to get our house in order and to pay for the extravagant spending. But the pain would not be long-lasting if we did the right things, and best of all the empire would have to end for financial reasons. Our wars would stop, the attack on civil liberties would cease, and prosperity would return. The choices are clear: it shouldn't be difficult, but the big event now unfolding gives us a great opportunity to reverse the tide and resume the truly great American Revolution started in 1776. Opportunity knocks in spite of the urgency and the dangers we face.

Let's make "Something Big Is Happening" be the discovery that freedom works and is popular and the big economic and political event we're witnessing is a blessing in disguise."

[Mattchu9999]

Ron Paul, one of the last true citizen statesman.

The ONLY proveably 100% honest candidate out of the ENTIRE list candidates.

Most folks have no clue about him because of the deliberate media censorship and purposeful blackballing of his ideas and ideals.

Ron may have been out last hope to begin to right the wrongs perpitrated upon our country and the world. Sadly, as a testamint to the gulability and stupidity of most Americans they we're lead like the true sheeple they are to winding us up with the two most potentialy damaging candidates out of the entire lot.

Sad it is....but I will be glad to watch it from afar on a beac in a country far far away.

[Gary A]

Yeah right, the sky is falling. I've heard it before and I'll hear it again. Thailand is pretty well isolated from the monetary crisis. Most of the people have no money anyways and the barter system is alive and well. It's only money and those who have no money are affected very little.

[PeaceBlondie]

Does it affect rich Thais with investments in cash, stock, precious metals? Could a worldwide collapse of financial institutions ripple to Thailand (if so, why not?). And with all due respect to its creator, are some versions of the sufficiency economy at odds with modernization and globalization of which Thailand is already a big part? How are you going to send Somchai back to the farm, after he's seen the bright lights of Bangkok, or the industrial estates of Rayong or Lamphun?

[Monroe]

If the United States were to collapse, China and Russia would most likely become the global superpowers and given that they show restraint, life will continue as it has throughout history. But more realistically, the US isn't anywhere near a collapse and will pull out of this rut sooner or later and we'll start getting 50 BHT/USD again =)

There will always be doomsayers, but rarely any who are grounded in reality.

The reason Ron Paul didn't get nominated this year is because his policies were piss-poor and would have caused the United States to collapse. Luckily, 95% of the country knew that and he's little more than a headline on Slashdot, Digg, or some other web-based minutia, where oddly enough, Ron Paul seems to have the largest following.

Heh, the first two posts were nothing more than shameless advertising for Ron Paul.

[geriatrickid]

Ron Paul should stay in Texas and bash minority groups there. I don't think he is an overly truthful person and has alot of explaining to do about those racist newsletters that were sent out under his name in the 1980's and 1990's. He also needs to answer on that issue of taking money from white supremacist groups. Thailand has its own wacko politicos and doesn't need this loser from the USA or his idiotic half baked notions.

This assessment sums him up;

Ron Paul may not be a racist, but he became complicit in a strategy of pandering to racists—and taking "moral responsibility" for that now means more than just uttering the phrase. It means openly grappling with his own past—acknowledging who said what, and why. Otherwise he risks damaging not only his own reputation, but that of the philosophy to which he has committed his life.

Julian Sanchez contributing editor and David Weigel associate editor of reason.

my view is that he is a nutter and that his followers are disenfranchised nutters.

[grantbkk]

Ron Paul, Ralph Nader fill in the blank. If the sky does fall the person who said it will be remembered as a futurist and wise man or woman. If the sky doesn't fall no one will remember it was ever said.

I say a coup is coming to Thailand.

[JOHN2]

Yes the end is nigh.

Does this mean my som-tam will go up in price?

[awakened]

Heh, the first two posts were nothing more than shameless advertising for Ron Paul.

Your 'shameless' interpretation is insulting.

As to the blatant smear of Ron Paul (can't you guys sing a new song? we're all wise to the tactic by now)... Since he is in a position to know and you are a nobody on a message board, I'll take his word over yours any day of the week.

'Heh'

[chavy]

Does this mean my som-tam will go up in price?

More than likely...yes it will.

We're doomed......doomed I tell ya !!

[steveromagnino]

How are you going to send Somchai back to the farm, after he's seen the bright lights of Bangkok, or the industrial estates of Rayong or Lamphun?

Never seen that part of the sufficiency economy - the sufficiency economy is not something that new but rather a focus on long term sustainable development.

As for the drivel from USA, who cares - not only is it debatable as to how much is right, but it also ignores the very real euphoria that Americans will have when you get a new president, allowing the game of musical chairs to continue a bit longer while the US economy continues to be one of the largest markets and yet also one that itself is not particularly adept at many things as has been the case for the last 20 years.

yawn.

There are plenty of other markets in the world, and enough strength in the US economy to plug on as the inevitable shift away from USA continues.

As for the idea of free trade and USA - nice laugh but after seeing the subsidy schemes, non tariff barriers for Kiwi sheep and attempts to block shrimp and catfish while simultaneously leaning on countries like Singapore to allow the sale of chewing gum in the words of Tui 'yeah right'

Cheap US money has one great benefit; cheaper snowboard trips and more family guy.

[sbk]

Not particularly Thailand related depite PB's valiant attempts to do so.

//CLOSED//