Market Features

Try Jim Cramer's Action Alerts PLUS
CLICK HERE NOW

For Greenspan, Gold Once Glittered

04/29/08 - 06:59 AM EDT

Nat Worden

The Federal Reserve's fiercest critic on Capitol Hill is again tapping into rising angst over inflation, loose monetary policy and the central bank's alleged role in pumping up the housing bubble.

Rep. Ron Paul's controversial views on the U.S. dollar have been largely dismissed as the populist rhetoric of a libertarian outsider during his 2008 presidential run, but his views actually match those once held by the man many blame for the expansion of the credit bubble: former Fed Chairman Alan Greenspan.

In a new book to be released this week, Paul (R., Texas) again takes aim at the central bank -- a familiar target -- and in doing so accuses Greenspan of doublespeak on his views about the dollar. The accusation comes as Greenspan vigorously defends his low interest rate policy in the early years of the housing bubble, which many point to as a root cause of the credit crisis that is currently roiling financial markets.

It also comes at a time when inflation expectations are rising as the Fed on Wednesday is poised to continue lowering interest rates in hopes of stimulating a weakening economy and of reviving shell-shocked credit markets. Meanwhile, the dollar has plunged while government deficits are spiraling and the costs of fuel and food, among other things, are soaring.

Ron Paul: Gold Is the Answer

It's a scenario that Paul has been warning about for years in Congress, though his views have long languished outside the mainstream of American political discourse. That said, Paul enjoyed surprising success for a libertarian outsider in online fund-raising for his failed bid for the 2008 Republican presidential nomination.

His new book, The Revolution: A Manifesto, is aimed at galvanizing his sizable and devoted band of eclectic followers, which has become increasingly vocal on Google's GOOG YouTube and elsewhere on the Web.

Previous «
1 2 3 4 5

Headlines & Perspectives

Market Features

Go To Section Home


04/28/08
Carlyle Co-Founder Defends Private Equity

David Rubenstein suggests that private-equity firms buy back loans made during the boom times.


04/28/08
Clinton Issues Proposal to Relieve Gas Pain

The New York senator's proposal includes relieving taxes for consumers and penalizing price-gougers.


04/28/08
Protesters Greet Carlyle Founder at Conference

Members of the SEIU want the co-founder of the private-equity firm to put pressure on executives at Manor Care.


05/19/08
Cramer on Top Searched Stocks: Yahoo!

Yahoo! is among the most searched stocks on TheStreet.com. Here's what Cramer had to say about the stock recently.


05/17/08
Jim Cramer's Best Blogs

Catch up on his thinking on the hottest topics of the past week.


04/26/08
Coming Week: Make or Break

Investors will have to deal with a Fed meeting and another flood of earnings and economic data.


05/19/08
Top Rocket Stocks: Ensco

Ensco International and Echelon have the potential to move higher in coming days.


04/28/08
Monday's Analysts' Upgrades, Downgrades

See who made what calls.


05/19/08
Telecom Giants See a Savior in Video

The addition of video is helping telecom companies compete against cable and satellite companies.


05/19/08
Contract Expiration Tempers Oil's Rise

The June West Texas Intermediate contract reflects selling pressure ahead of Tuesday's expiration. But stocks in the sector are generally trading higher.


05/19/08
Analysts' Upgrades, Downgrades: Amazon

See who made what calls.


Your Recent Quotes: Quote Up0 | Quote Down0
Dow S&P 500 NASDAQ
Oil*
Gold
10 Yr
0.00%
%
%
%
Data delayed 20 min
Sign up for our FREE newsletters now.

Keep on top of the market and the critical information you need to make more profitable investing decisions.

  • Cramer's Daily Booyah!
  • Before the Bell

Privacy Policy

See All Free Newsletters

Premium Stock Ideas