Mike Maloney & Ron Paul : We Don't Have Free Markets Or Capitalism

We don't have free markets, and we haven't had since 1913. You can not have free markets if you don't have free market money.







"We don't have free markets, and we haven't had since 1913. You can not have free markets if you don't have free market money.

The currency is 50% of every transaction there is in society, and if you hjave a small group of men at the central bank having a meeting each month (in the United States it's the FOMC) deciding how much currency there is going to be in the system, and what the cost of that currency is (the interest rate) - that's a manipulated market by definition.

There is no transaction in society that is not manipulated. When people say that the free markets are failing - we do not have free markets. When people say that capitalism isn't working - we don't have capitalism, we've got cronyism. We've got special favors being granted by Congress to the people that lobby them. It skews the economy, and creates all of these artificial bubbles that end up popping, and everybody loves living in a bubble - so they just want the Fed to create the next one."

- Mike Maloney, Indian Wells 2014