Wednesday, 26 December 2007

One week until Ron Paul's first test

The race for the American presidency is about to heat up, with the first Presidential primary elections and caucuses in Iowa and New Hampshire early next month.

Texan congressman Ron Paul seems to be the most interesting of the candidates vying for the nomination for either the Republican or Democratic parties in the United States.

Paul is in favour of a much smaller government, lower taxes, open free markets, and sensible monetary policies. His basic test when deciding whether to vote for or against legislation in congress is whether it is "expressly authorised by the Constitution".

His supporters say the "mainstream media" have been doing everything they can to block coverage about Ron Paul. However the Texan has created quite a buzz online, consistently rating highly in a range of internet polls, and is one of the most searched for '08 candidates for either party.

Paul notes that the United States is a whopping $9 trillion (!?!) in debt, thanks to out-of-control spending by successive administrations... and points out that America's independence (along with other countries) is increasingly at risk because they are relying on the likes of China's Central banks to finance their spending.

Paul is a strong opponent of what's called "fractional-reserve banking", which is basically the flawed theory which allows central banks like the US Federal Reserve to increase the money supply at will by "creating money out of thin air", essentially making every dollar already in circulation worth less.

Trading banks are able to follow a similar practice, lending out "money" which amounts to just a fraction of what they have taken in as deposits. Critics describe this common modern-day practice by banks as a "swindle" and "no better than counterfeiters."

He is certainly an "out there" candidate for the Republicans (some party members aren't happy about him being on their ballot, given how often he differs from the official party line), but it will be interesting to see what level of support Paul receives over the next few weeks, with a third party run also a possibility...

* Official website: Ron Paul 2008 - Hope for America
* Ron Paul's followers aim to stun the pundits
* Ron Paul's support in Iowa: Why to take the Button Poll seriously
* AHN: Ron Paul Keeps Possibility Of Running As Third-Party, Libertarian Open

Posted in |