Ron Paul and Central Banking

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I have to disagree with some libertarians I respect on the issue of whether Ron Paul is stressing central bank inflation too much and whether this topic, however relevant, is good strategy. Tom Woods mentioned this as a polite criticism, and other libertarians of varying degrees of sympathy to Paul have made similar points. I mean my defense of Paul on this as no attack on any of them, of course.

It is possible to come off as a kook on the topic of central banking, and many people who stress it do come off that way.

But this is a crucial issue. I don’t know about other people, but I see libertarian electoral campaigns, no matter the party, as primarily educational opportunities. In the long term, Americans need to learn about the fraud of central banking. Until they do, our peace and liberty are not only in peril, but will be nearly impossible to restore in any significant sense.

I say this as someone who’s not really personally much of a goldbug (though I do love owning the stuff) or financial guru. I’ve always been a libertarian primarily because I think aggression is wrong and a disastrous way of organizing society. But about five years ago, I finally started looking into all this Federal Reserve stuff my friends were ranting about, and I’ve come to see it as an issue of fundamental importance. There are others, and I’d like to see Paul have an opportunity to speak on them, as well. But if his main focus is war and foreign policy, with central banking, excessive taxing and spending, and civil liberties and the rule of law all getting a fair hearing too — as was the case in the debate the other night — I really have nothing big to complain about, or even to critique. Ron Paul did a great job summing up the major case against the Fed in about fifteen seconds. Maybe it’s not yet time for Americans to fully grasp the evils of central banking, but until they do, we have little hope for the huge political changes we want to see, especially on the national and international level. If Ron Paul made some people out there google inflation or want to learn more about inflation, war and regressive taxes, then this was a grand success. Think of the intellectual revolution he might have sparked in some minds out there.

11:28 pm on May 5, 2007
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