“It will become nonfunctional.”
Libertarian icon Ron Paul believes that the EU is on its last legs, not because of Britain’s exit, but because of years of poor global economic policy driven by corrupt central bankers.
Appearing on CNBC, the former Congressman said that the ‘Brexit’ is merely a symptom of a larger problem which will spell the end for ‘forced globalism’.
“I think [the EU] will become nonfunctional,” Paul said.
“It really is coming to an end. It doesn’t mean tomorrow or the next day, but people are going to be really unhappy. The end is coming, but it isn’t coming because of the breakup,” Paul added.
“I think what everyone is looking at is there was a vote, an important vote and it went differently than expected and it sent shock waves through the markets, but I think the concentration is on the wrong issue,” Paul continued.
“What has been preceding this situation that we have throughout the world and this country as well is artificially low interest rates. It causes people to make mistakes in buying bonds,” Paul explained.
“Catastrophe doesn’t come unless there’s something that precedes it, and what sets the stage is monetary policy, artificially low interest rates, zero interest rates,” Paul urged.
“There’s a lot of instability still out there, and this hasn’t been corrected yet. I don’t think it’s going to correct easily,” he said, adding “We are running out of steam.”
In a nuanced description, Paul explained how globalism per se is not the overriding problem here, but it is a ‘forced globalism’, driven by politicians hell bent on centralizing power, which is now being rejected by the people.
“A libertarian, free market person doesn’t hate globalism, we hate political globalism, and force that comes in and entangling alliances, and when politicians gain control like they have in the European Union.” Paul stated.
“Globalism in a free market means that you have a sound currency that you accept is commodity based, and you have as much free trade as possible, and it’s a globalism that is based on freedom and free markets.” the former congressman added.
“It’s not globalism that is bad, it’s this forced globalism. We’ve been involved in it for years and we’ve done what the founders said not to do, they said don’t get involved in these entangling alliances.” Paul explained.
Paul also added that “freedom cannot be gained from propping up the stock market,” and noted that the failures of some European economies have come about from devaluation of their currencies. “When you destroy a currency, you also destroy the middle class.” Paul stated.
On the opposite side of the political spectrum, uber globalist Henry Kissinger has declared that the answer to the problem of the crumbling European Union, is for MORE entangling alliances to be formed.
Saying that Britain shouldn’t be punished “as an escapee from prison,” Kissinger argued that other countries, particularly the US should see Britain and others as “a potential compatriot”.
“Punishing the UK will not solve the question of how to operate common currency in the absence of a common fiscal policy among countries with disparate economic capacities, or of how to define a union whose ability to achieve common political strategies lags fundamentally behind its economic and administrative capacities.” Kissinger wrote.
“The Brexit vote has unleashed the anxieties of two continents and of all those who rely upon the stability that their union of purpose provides.” Kissinger added, saying that “The needed restoration of faith will not come through recriminations.
Essentially, Kissinger is saying that punishing people for rejecting forced globalism will only result in them turning further away from the concept.
“To inspire the confidence of the world, Europe and America must demonstrate confidence in themselves.” the Bilderberg kingpin declared.