Ron Paul thinks the next crisis could get gnarly.
Balaji@balajis
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Jul 17, 2024
~1 min read
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Ron Paul thinks the next crisis could get gnarly.
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Dalio and others have voiced similar sentiments. From Ron's recent newsletter:
"The government’s excessive spending and debt is leading to what some economists call “fiscal dominance.” Fiscal dominance occurs when a central bank must prioritize monetizing ever higher levels of government debt, giving Congress de facto control over monetary policy....
The next economic crisis will likely either be caused by or result in a rejection of the dollar’s world reserve currency status. Congress will be forced to make drastic cuts in spending while the Fed will be enabled to monetize the debt. This will result in massive public unrest potentially resulting in violence, the rise of authoritarian movements on the left and right, and increasing authoritarianism..."
ronpaulinstitute.org/will-the-fed-l…
"The government’s excessive spending and debt is leading to what some economists call “fiscal dominance.” Fiscal dominance occurs when a central bank must prioritize monetizing ever higher levels of government debt, giving Congress de facto control over monetary policy....
The next economic crisis will likely either be caused by or result in a rejection of the dollar’s world reserve currency status. Congress will be forced to make drastic cuts in spending while the Fed will be enabled to monetize the debt. This will result in massive public unrest potentially resulting in violence, the rise of authoritarian movements on the left and right, and increasing authoritarianism..."
ronpaulinstitute.org/will-the-fed-l…
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A fair point. But the counterargument is that we actually have seen steadily escalating levels of civil unrest for the last few decades.
See: visualcapitalist.com/mapping-civil-…
x.com/BTC_hat/status…
See: visualcapitalist.com/mapping-civil-…
x.com/BTC_hat/status…
