Former U.S. Representative and Presidential candidate Ron Paul blasted the Fed’s money-printing policies in response to the coronavirus pandemic.
In a series of tweets, Paul denounced the Federal Reserve’s money-printing tactics which took the U.S. balance sheet over $6.6 trillion.
The former U.S. Representative of Texas said the Fed’s “fake economy” had burst and claimed even a rally in the stock market would not be able to mask the “damage” already done. Paul also warned against politicians using the coronavirus, which he said has proven to be “less deadly than the seasonal flu,” as an excuse for the fiscally irresponsible behavior.
The Fed's fake economy has burst. The stock market, even if it rises, cannot hide the damage that has been done.
The virus, now known to be less deadly than the seasonal flu, cannot act as a legitimate excuse either.
— Ron Paul (@RonPaul) April 24, 2020
Paul continued, calling the Fed’s policies “un-American” and claimed the central bank’s micromanagement of the economy had “failed.” He argued for a total rebuild of the U.S. economy and its governing body in the image of “American ideas of liberty” and sound money practices.
The un-American ideas of government micromanagement and Fed central planning of the economy have failed, and will continue to fail as long as they're clung to.
The time to rebuild with the American ideas of liberty and sound money has arrived.
— Ron Paul (@RonPaul) April 24, 2020
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