In his FortBendNow article, “Paul Calls For Hearings On Falling Dollar’s Impact On Oil,” John Pape sustains our cause by reporting that “In the face of $4 per gallon gasoline and predictions the price will rise to $7 by the end of summer, Congressman Ron Paul (R-Lake Jackson) is calling on Congress to explore how the weakened value of the dollar may be contributing to the rise in oil prices.”

To his credit of course, Mr. Paul is nearly a lone congressional voice against the escalating foul play of our day. I agree with Congressman Paul, who according to Pape says that, “Congress should be examining *all* factors contributing to the high cost of oil, and monetary policy is one of the key factors in the run-up in price.” I would hope even to testify at such a hearing, not just regarding monetary policy, but to provide the theoretical background by which we can understand further vital factors, such as so called commodities trading, explicitly because, given that we can perfect monetary policy so that the monetary system itself will not drive up prices or devalue the currency, the vast potential unearned profits of trading for instance have the potential as well to inflict artificial damages even exceeding a captive market’s resilience.

If we’re to have such hearings then, are they merely to inadvertently pick the alternate poison, merely for not even considering it?

What we really need to do today is decide the principles on which we can sustain all the prosperity we are capable of; and the people should be fully educated and involved in that process. A public mandate exists already, not to be cast to a different wolf by default; but to eradicate unearned profit so that decent, respectable work can be rewarded to the extent it deserves.

In the interests of that need, although we do need both to hold these hearings and host the full breadth of relevant issues, we need too to recognize that if we project from the last 100 years the rate at which Congress has progressed toward mastering the breadth of related issues… it may be that the principal reason to hold those hearings is to prove the incompetence and disservice of Congress to follow the original course prescribed by the Declaration of Independence.

But so indeed, let’s get that done as well.

This entry was posted on Wednesday, July 2nd, 2008 at 4:48 pm and is filed under AUSTRIAN SCHOOL, Mathematically Perfected Economy, RON PAUL, UNASSENTED GLOBALISM, events and politics, theory and implementation. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response or trackback from your own site.