Harvard Alum And Economics Expert Iris Mack Endorses Ron Paul For President 2012

By Robin Pugh-Perry, Mhs

Texas Congressman and 2012 presidential hopeful Ron Paul has spent much of his political life speaking out on the adverse effects of the Federal Reserve on the US economy.

In 2002 he correctly predicted the housing collapse that predicated the 2007/2008 bailouts. He talks about things like the existing malinvestment in the derivatives market, fractional reserve banking, and a prolonged recession/depression which is due, in part, to the Fed setting interest rates far too low for far too long. Paul says that our currency has been devalued by the Fed because of its seemingly endless printing of money out of thin air to pay for wars, bailouts, and other programs. All of this “corporate welfare”, as described by Paul, is saddled onto the backs of the ever shrinking middle class. He states that the extent to which our currency has been devalued is due in large part to the fact that our paper money, or fiat currency, is no longer backed by gold.

President Nixon did away with the gold standard back in 1971.

After many years of coalition building within the Congress, Paul, who became the Chairman of the House Domestic Monetary Policies Subcommittee in 2010, was able to force the Federal Reserve into an audit for the first time since its inception in 1913.

The results of the audit, which became available during last summer’s 2011 debt ceiling crisis, was kept deep in the background by the corporate sponsored media – and for good reason. Neither the Congress nor President Obama wanted the public to know that between 2008 and 2010, the Federal Reserve had doled out more than the $700 billion originally promised by TARP. Instead, during those two years, the Federal Reserve provided $16 trillion in additional corporate welfare to banks and other corporate interests, both foreign and domestic. This action further expanded the national debt.

Paul says that deficit spending like this, as practiced by the Obama administration as well as prior administrations on both sides of the aisle, doesn’t work. To put it simply, Paul says that if spending money is the problem, spending more money cannot be the solution.

Just as he predicted the 2008 collapse of the housing market, Ron Paul has been predicting a forthcoming global economic collapse for a while now. As usual, few in Washington, DC are listening.

But Quantitative Analyst and Financial Engineer Iris Mack is.

Per Economic Policy Journal, Dr. Iris Mack has not only heard Ron Paul, but she is endorsing him for POTUS in 2012. Mack says that Ron Paul is the only presidential candidate who understands the current dire straits that the economy is in and the only one with a coherent plan to fix things. She also says that Ron Paul is the only non-elitist candidate and the only candidate that would put the country back on the road to liberty.

 

 

 

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