Ron Paul appeared this morning for a 10 minute segment with the morning crew, with some updated thoughts on his long running battle for transparency within the Federal Reserve. The same Fed that Hong Kong's leader, Donald Tsang, says has an excellent chance to cause the next bubble / crisis (then again they've been the root source of just about all of them the past 2 decades).
- The Federal Reserve’s policy of keeping interest rates near zero is fueling a wave of speculative capital that may cause the next global crisis, Hong Kong’s leader said. “I’m scared and leaders should look out,” said Donald Tsang, chief executive of the city, said in Singapore today.
- “Where is the money going -- it’s where the problem’s going to be: Asia,” Tsang said. “You can see asset prices going up, not only in Korea, in Taiwan, in Singapore and in Hong Kong, going up to levels that are incompatible or inconsistent with the economic fundamentals.”
10 minute video - email readers will need to come to website to view
Remember, it's all about transparency in our new era [Aug 26, 2009: Geithner - Auditing the Fed is a Line We Don't Want to Cross] [Aug 25, 2009: Court Orders Federal Reserve to Disclose Emergency Loan Details]
On a related tangent, if you happen to be a Ron Paul fan and by chance live in Pennsylvania, a reader sent me this link to an independent running in the 15th district named named Jake Towne who shares many of the same principles, but takes it even further. He has a novel Open Office proposal which harkens back to the day of true representation. He will do what the citizens of his district want him to do... outrageous. Surely he will be suffocated by the 2 party oligarchy but thought I'd pass it along..