Free Banking on CNBC

Ron Paul on CNBC:

What I find amazing about the clip is that Ron Paul briefly discusses what is essentially a free banking monetary system, and he is taken seriously--this on the leading financial news network in the world. Even as recently has two years ago, the idea that this could happen was a pipe dream.

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Didn't you mean . . .

Didn't you mean to say . . . a "Free Market-based Monetary System"?

Should your criticism of Rep Paul be taken seriously if you don't know the correct terminology?

And I'm not sure that CNBC is the leading financial news network 'in the world'. I believe that distinction belongs to Bloomberg.

Two 1/2 years ago we had this thing called the collapse of the financial market? Remember that? Well there are reasons these things happen. And Austrian Economists have been warning about the folly of fiat money for a century. This isn't the first boom and bust cycle do to The Fed's meddling that we have had.

Anonymous, the author of the

Anonymous, the author of the post was not criticizing Ron Paul, as you'd have understood if you read anything else from this blog. And even if he had been criticizing Ron Paul, his criticism (whatever it might've been) would not be invalidated just by using the wrong term. Which, incidentally, he didn't: "free banking monetary system", or just "free banking" is actually the most common term for describing Paul's preferred monetary system.

To borrow a phrase, I don't hate Ron Paul, I just can't stand his fan club.