💥💥Ron Paul: 'Empires end' when markets take control
In his April 9th Liberty Report broadcast, free-market advocate and former Congressman Ron Paul warned that the escalation of tariff tensions between the United States and China is symptomatic of deeper economic and geopolitical problems that could lead to prolonged global instability.
Paul referred to the current situation as a 'double war': one economic, involving tariffs and monetary policy, and the other geopolitical, with broader military implications. 'There is a double war underway. There is an economic war with tariffs involved. There is also this hot war in which we are participating and funding almost everything,' Paul said.
The United States recently increased tariffs on Chinese imports to 145%, prompting China to respond with tariffs of 125% that begin this weekend. Paul criticized the measure as economically harmful, attributing it to both the political stance and a lack of understanding of market principles. 'It's bad economics, but I consider it bad diplomacy,' he said.
Throughout the broadcast, Paul emphasized the role of the Federal Reserve in contributing to market distortions through interest rate manipulation and inflationary policies. 'You can have a Fed ruining the economy, playing with interest rates, causing weakness here and there, but eventually the markets take over and go out of control, and there is nothing the government can do,' he stated. He also noted the growing acceptance among the American public of protectionist policies, influenced by what he described as a resurgence of economic nationalism. 'It seems there is some chauvinism here because they have established the narrative that we are being scammed,' noted Paul's co-host, Daniel McAdams, Executive Director of the Ron Paul Institute for Peace and Prosperity, referring to China and other trading nations.
