Ron Paul gave a must see interview to Bloomberg TV over the weekend. Paul cuts the crap about the debt ceiling debate, stating that Congress will raise the debt ceiling at the last minute after alot of drama, just like we have been saying for months.
Perhaps even more important was Paul's candid assessment that the US is already in default on its debt by devaluing its currency via inflation.
"The only budget that counts is THIS year. This year, our obligations when you add everything up together- $5 Trillion dollars."
"They want to prevent the default, you know, we dont want to not pay our bills. But we're defaulting constantly! All governments when they get this much debt default. But they don't default by not paying the bills, we'll always pay the bills. The default comes by the devaluation of the currency! So inflation right now is at 6%, and therefore people are losing their purchasing power. So the common person, the average person, the middle class, the poor, and especially people who lose their jobs we're defaulting on them all the time! I don't want to carry on the default on the common person."
Paul's entire interview is somewhat lengthy, but is a definite must watch:
