I'm hopeless, how do I win over this Mittens supporter?

[Mini-Me]

FDIC......

Hahahahah...I do wonder if a lot of the bailouts occurred to mask the fact that the FDIC is worthless in the face of a systemic meltdown...which is the only way in which banks are even allowed to fail nowadays anyway.

 

[pacelli]

How do I counter this!?

Is your friend capable of voting in the 2012 presidential primary or general?

 

[Brett85]

There was a debate where Romney said that we shouldn't bail out the foreign banks either. So I guess you can tell him that Romney has the same position as Ron on that issue.

 

[Mini-Me]

There was a debate where Romney said that we shouldn't bail out the foreign banks either. So I guess you can tell him that Romney has the same position as Ron on that issue.

Ooh, good catch. Then again, I wouldn't be surprised if Romney has a video for each side of the issue.

 

[libertygrl]

Alright, so on Skype I was speaking to a friend, whom supports Mitt Robney, and he asked me to explain Ron's position on bailing out Europe, and I said that bailing out Europe would have to be done by printing more money that would put an inflation tax on Americans, and that it wasn't a good idea, and he had this to say,

"again, i have no problem with Ron Paul's foreign policy (minus the situation in Europe)
[4:04:32 PM] Alec: As i was saying, if Greece defaults, all of a sudden French banks are failing, and the possibility of France either needing a bailout or defaulting sky-rockets
[4:05:57 PM] Alec: If France fails, its reasonable to think that the Eurozone deteriorates to nothing. But from a domestic standpoint, US banks have a shitload invested in French/other European banks. And as we saw in 2008, it only takes 1 major bank/financial institution to take down the whole system and cause a recession/depression
[4:06:37 PM] Alec: Also, if the Eurozone flat out breaks up and all countries go back to their respective currencies, it is near impossible to predict the effect that has on the global economy"

How do I counter this!?

Maybe send him this:

http://www.docstoc.com/docs/102095500/The-Romney-Book

 

[unknown]

I'm hopeless, how do I win over this Mittens supporter?

This should do it:

 

[LandonCook]

I think this will help: http://www.ronpaulforums.com/showth...arch-Book-From-08-Found&p=4059852#post4059852

 

[centure7]

Me: Hey, do you think Greece should bail out France?
Him: No, that would be crazy.
Me: Exactly. The US is well on track to be the next Greece.
Me: Also, bailouts are very complex financial calculations. Have you or any expert done the math to actually show that the bailout would cost less than letting the Euro zone fail? If the Euro zone fails, the dollar will be one of the alternatives, and that means value will be added to the US dollar, which is a good thing. You're basically gambling with billions of dollars on something you don't know the full effects of.

 

[rpwi]

Soo many different ways to approach this.

You could explain that banks are fundamentally flawed because they practice 'fractional banking' and they deserve to die just like a counterfeiter deserves to be arrested. That should raise some eyebrows on his part at which point you could explain how fractional banking really works (Ron Paul is against it).

You could explain that it is often cheaper to just bailout the depositors (in this case the FDIC) than it is the banks. FDIC insures about 4 trillion in assets...TARP went 7 trillion and way beyond if you count some of the hidden stuff going on. Would have been smarter to let the banks fail, give the insurance money to the depositors and let the financial system start over again...this time unburdened by mal-investment and incompetent investors. Banks and rich people wouldn't like this because their ill-gotten gambling equity would be gone, but this would be the best solution.

Another tact would be to use a more direct gambling analogy. Ask him what happens if you guarantee to cover the losses of a gambler? Does the gambler become wiser and more thrifty or just the opposite? Wouldn't the gambler sell rights to gamble to other gamblers under his name who do the same and cause a huge chain reaction of irresponsible behavior? And then because this was all interconnected and because this is gambling after all it would fail and fail systemically. Do you give more money to the gamblers to keep their habit going...or do you say enough is enough. Stop gambling...liquidate your losses and get real jobs?

 

[Simple]

Mitt Romney said he would have signed NDAA into law. How can one support a candidate that wants the powers of a third world dictator? Indefinite detention of American citizens without trial is a suspension of the 5th Amendment, Habeas Corpus, and Posse Comitatus Act. This might be worth mentioning if the economic debate is stagnating.