Silver Is Poised To Rise In The Long Run, But The Short-term Situation Is Complicated

By: Przemyslaw Radomski
Perhaps you may have heard mentions recently of the Austrian School of Economics versus the Keynesian branch. Maybe you saw televised interviews with Congressman Ron Paul (R-Texas.) He is the Congressman who has been trying for decades to pass a bill that would give Congress the power to audit the Federal Reserve Bank. What was once a ridiculed, marginal proposal recently passed the House and will soon be considered by the Senate.

Congressman Paul blames the country's economic woes on a long-dead economist by the name of John Maynard Keynes, whose present-day adherents, he says, are the ones bringing the country's economy to the cliff's edge.

Keynesian economics gained dominance after World War II and it was President Richard Nixon who proclaimed in 1971: "We are all Keynesians now." It was about the same time that Nixon "temporarily" severed the link between the dollar and gold, thus laying the framework for the currency's debasement. Congressman Paul is an adherent of the Austrian school of Economics.
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