GREENVILLE, N.C. -- Long before he discovered Friedrich Hayek and other free-market economists, Ron Paul got a lesson in sound money from his oldest brother, Bill.
It was the height of World War II, and the Paul boys were laying aside quarters from their Pittsburgh Press routes and pooling pennies earned from pulling dirty milk bottles off the line at the family dairy to buy war bonds. One day, Ronnie suggested what was, in retrospect, a rather Keynesian solution: "Why doesn't the government just PRINT this money?"
"Well," Bill responded, "then the money wouldn't have any value."
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It was the height of World War II, and the Paul boys were laying aside quarters from their Pittsburgh Press routes and pooling pennies earned from pulling dirty milk bottles off the line at the family dairy to buy war bonds. One day, Ronnie suggested what was, in retrospect, a rather Keynesian solution: "Why doesn't the government just PRINT this money?"
"Well," Bill responded, "then the money wouldn't have any value."
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