Giovanni Russo Ron Paul, who used to be a politician in the United States and is part of the Libertarian Party, has commented on recent attempts to stop the US dollar from being such an important currency overseas. He thinks that it’s probably going to take longer than some people think for this change to happen.
Ron Paul on the Strength of the US Dollar
Recently, Ron Paul, a former US representative, talked about the US dollar on his webcast named “The Ron Paul Liberty Report”. He discussed how events taking place in China, Russia, Brazil and other countries may be putting the strength of the US dollar at risk.
Paul thinks that the U.S. dollar will not be replaced as the main world currency anytime soon, contradicting some predictions from other people. He even said:
“A lot of people have been talking about this for a long time now and it usually takes far longer than what anyone expected. For example, in 1930 when Federal Reserve started controlling the economy, many thought it might end the use of dollars soon–but here we are almost 100 years later!”
He talked about the different times that the U.S. dollar has gone through, especially when President Richard Nixon abandoned the Bretton Woods system and this meant that the dollar had no support and people thought it was done for.
The US Dollar Headed Downhill
Paul says that owning a national currency as the world’s reserve currency has been good for the U.S., but it also has drawbacks. He says that having a global reserve currency gives us permission to print more money, meddle with markets using sanctions and fight wars we don’t need to fight.
Paul thinks that the US Dollar is going downhill because of something called the Federal Reserve. They can change the money rules of America without needing Congress to say yes or no. Paul even believes that other countries want to get rid of using our dollar as a way to buy and sell things, which is making this whole situation worse.
It seems like something big might be happening with China, Brazil and Russia. They seem to working together against us, which could lead some people to come up with a false reason for why it’s happening. We should really look closely at our money rules so we can work out what is actually going on. Ron Paul has an opinion about it too, but what do you think? Leave your comment in the section below!
