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Ron Paul has asserted for many years that inflation is a tax that benefits those who get all that freshly printed money first, and harms everyone else. Today, Fed Chairman Ben Bernanke agreed with that assertion, but failed to present a viable plan for saving the collapsing dollar:

The Fed is now in an impossible situation. [...]

Who is in charge of the dollar? The Federal Reserve says it’s the Treasury Department and the Treasury Department says it’s the Federal Reserve. Watch Ron Paul try to get a response from Treasury Secretary Henry Paulson.

Later, Ron Paul recorded the following comments:

by Ron Paul

Oil prices are on the minds of many Americans as gas hits $4 a gallon, and continues to surge. How high can prices go? How can we solve these problems? What, or who, is to blame?
Part of the answer lies in understanding bubbles and monetary inflation, but especially the Federal [...]