Ever since I first read Mises and Hazlitt and Rothbard so many years ago, I've known that we faced a huge financial crisis, brought on by the Federal Reserve and the leviathan state, unless we had monetary reform.
The political question was always this: when we had another great depression, or a great inflationary depression, wouldn't it just empower FDR II and a more fully fascist new deal? Wouldn't public opinion demand the omnipotent state?
Echoing Murray, I always answered: not if we do the necessary intellectual ground work. Not if we have taught enough young people about Austrian economics. Then, come the crisis, we can have a new birth of freedom, prosperity, and sound money, and make the crisis much shorter too. Thanks to Roosevelt's central planning and warmongering, we didn't recover from 1929--brought on by Fed monetary manipulation in the 1920s--until well after WWII.
Well, here we are, facing what may be the biggest economic crisis since 1929. But this time there doesn't have to be a Franklin. This time, thanks to the intellectual spadework done by so many great men and women over so many decades, and thanks to an intellectual-statesman, we can save our people, and other peoples, from a nightmare of poverty, war, and the jackboot. Ron Paul.
