A Quote by Ron Paul

When monetary policy destroys the currency, it always destroys the middle class.

Ron Paul

Quote Topics

Always Class Currency Destroys Middle Middle Class Monetary Monetary Policy Policy

Quote Author

Ron Paul
American - Politician
Born: August 20, 1935

We're bankrupting our country and we have an empire that we're trying to defend which costs us $1 trillion a year. And the standard of living is going down today. It's going down and the middle class is hurting because of the monetary policy. When you destroy a currency, the middle class gets wiped out.

Ron Paul

Monetary inflation not only raises prices and destroys the value of the currency unit; it also acts as a giant system of expropriation.

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What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.

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