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| Joined: | Mon Nov 21st, 2005 |
| Location: | California USA |
| Posts: | 6399 |
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DC: There is much talk about the Chinese deliberately keeping their currency cheap in order to undercut U.S. and European manufacturers. And we are increasingly hearing discussions about layering on more tariffs aimed at the Chinese. We assume you are anti-tariff, so do you do anything at all about “unfair” competition or just let the global marketplace sort things out over time?
RP: The United States does not have the authority to tell China, or any other country, what to do with their currencies. The values of currencies should be set by the market. Instead of worrying about the speck in China’s eye, I would focus on the beam in our eye by reducing the national debt, restoring a market in currency by repealing the legal tender laws and ending the continued debasement of the American currency.
Note: Ron Paul advocates gold as currency and not a 'gold standard' dreamed up by greedy monopoly capitalists. See the part where 'restoring a market in currency by repealing the legal tender laws' is advocated. How can the laws change constitutionally when Ron Paul is president?