“The most important Republican for those of us in the financial world is Ron Paul.” So says John Taylor, chief investment officer of FX Concepts, “the world’s largest currency hedge fund.”

More specifically,

“Although we have heard much from this group about spending cuts, the most important Republican for those of us in the financial world is Ron Paul, who heads the committee that oversees the Fed. His extremely restrictive view of permissible Fed activities will make it extremely unlikely that a QE3 or another innovative program will be in the wings when QE2 expires in June."

Chris Leithner was on 612 ABC Radio last night (Monday the 23rd of August). In case you missed it, the discussion with Steve Austin can be heard here. The interview covers how the "US Empire is broke, and that when people belatedly realise it, rates will rise appreciably, the prices of assets will fall, bankruptcies will rise, etc. Also the simple reality that savings, not consumption, creates wealth."