Paul, who had a strong grassroots following during the 2008 presidential election, explained on Glenn Beck’s Sept. 30 radio program that perilous times lie ahead due to the Federal Reserve’s loose monetary policy. Host Glenn Beck asked how an Israeli strike against Iran might trigger problems with the American financial system.
“What happens when Israel strikes Iran or Iran has the earth rays and we know that they now have a nuclear weapon, what happens to our financial system at that point?” Beck asked.
The libertarian Paul maintained China would become the world’s financial heavyweight and they were already making preparations to be the world’s top dog.
“I think the Chinese take over,” Paul said. “If there’s a real panic and oil shoots up to a couple of hundred bucks, the Chinese will dump their dollars. Chinese are maneuvering for this. The more we threaten Iran, the stronger the Chinese influence gets because they're using the dollars that they have earned from us and saved, they have a trillion, and they are starting to buy up assets in Iran and build plants and get involved in their energy. So the whole thing is backfiring on us. We’re getting ready to put tougher sanctions on the Iranians and that will make things that much worse. It won't help the dissidents in Iran. It's going to cost us a lot of money, and there will be a bombing and that will be a big, big event. I think it will crash the dollar is what I think it would do.”
And what does the country look like after the dollar crashes? Not good the Texas congressman said.
Via Lew Rockwell :