Ron Paul In Sunday NY Times Magazine

A longish article will be published this Sunday (July 22) in the New York Times Magazine, about Ron Paul. Here is an excerpt:

In 1968, Paul settled in southern Texas, where he had been stationed. He
recalls that he was for a while the only obstetrician - "a very delightful
part of medicine," he says - in Brazoria County. He was already immersed in
reading the economics books that would change his life. Americans know the
"Austrian school," if at all, from the work of Friedrich Hayek and Ludwig
von Mises, two economists who fled the Nazis in the 1930s and whose
free-market doctrines helped inspire the conservative movement in the 1950s.
The laws of economics don't admit exceptions, say the Austrians. You cannot
fake out markets, no matter how surreptitiously you expand the money supply.
Spend more than you earn, and you are on the road to inflation and tyranny.

Such views are not always Republican orthodoxy. Paul is a harsh critic of
the Federal Reserve, both for its policies and its unaccountability. "We
first bonded," recalls Barney Frank, the Massachusetts Democrat, "because we
were both conspicuous nonworshipers at the Temple of the Fed and of the High
Priest Greenspan." In recent weeks, Paul's airport reading has been a book
called "Financial Armageddon." He is obsessed with sound money, which he
considers - along with the related phenomena of credit excess, bubbles and
uncollateralized assets of all kinds - a "sleeper issue." The United States
ought to link its currency to gold or silver again, Paul says. He puts his
money where his mouth is. According to Federal Election Commission
documents, most of his investments are in gold and silver and are worth
between $1.5 and $3.5 million. It's a modest sum by the standards of major
presidential candidates but impressive for someone who put five children
through college on a doctor's (and later a congressman's) earnings.
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Here is the closing paragraph:

But what is "Ron's message"? Whatever the campaign purports to be about, the
main thing it has done thus far is to serve as a clearinghouse for voters
who feel unrepresented by mainstream Republicans and Democrats. The
antigovernment activists of the right and the antiwar activists of the left
have many differences, maybe irreconcilable ones. But they have a lot of
common beliefs too, and their numbers - and anger - are of a considerable
magnitude. Ron Paul will not be the next president of the United States. But
his candidacy gives us a good hint about the country the next president is
going to have to knit back together.
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