Thursday's Supreme Court ruling on President Obama's flagship legislation and Attorney General Eric Holder's vote of contempt are stealing the headlines this week. The 24-hour news stations are devoting all their energies into covering every nuanced angle of each decision, interviewing prominent politicians, and monitoring the public's reaction to these significant changes in Washington D.C. In the shadow of these two monumental decisions, presidential candidate and Congressional Baseball Hall of Fame inductee Ron Paul held a hearing in the Domestic Monetary Policy and Technology subcommittee, chaired by Dr. Paul, entitled: Fractional Reserve Banking and the Federal Reserve: The Economic Consequences of High-Powered Money.
The Federal Reserve system is the culprit. The gun-running scandal that has led to Eric Holder being held in contempt of Congress is a symptom of big, mischievous government - fueled by endless, funny money. Our health care crisis is a result of previous government interventions, including the Fed's monetary manipulation. Murray Rothbard explained the unintended consequences of government intervention, "Our very real medical crisis has been the product of massive government intervention, state and federal, throughout the century; in particular, an artificial boosting of demand coupled with an artificial restriction of supply. The result has been accelerating high prices and deterioration of patient care. And next, socialized medicine could easily bring us to the vaunted medical status of the Soviet Union: everyone has the right to free medical care, but there is, in effect, no medicine and no care."
It's important to understand that failed government policies aren't only the inevitable result of central planning -- they're also ripping us off!