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Overstock.com CEO Patrick Byrne announces support for Rep. Ron Paul's 2012 presidential candidacy

Monday, September 19, 2011 by: Ethan A. Huff, staff writer
Tags: Overstock.com, Ron Paul, health news

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(NaturalNews) In a recent interview on FOX Business, Overstock.com (which was recently rebranded as O.co) founder and CEO Patrick Byrne had a lot to say about the flailing economy, and the fake "recovery" that so many in the business community and in the public naively bought into. And when asked about who he supports in the 2012 presidential election, Byrne vocalized his support for Rep. Ron Paul.

"We're at the edge of a catastrophe," expressed Byrne to David Asman of America's Nightly Scoreboard when asked about the current state of the US economy. "If they're disappointed it means they bought into the lie, the lie that there was a recovery. There was no recovery."

Based on these and other statements he made during the interview, Byrne is obviously well-versed in economic theory, and particularly in the difference between Keynesian economics, the flawed economic system in which the US currently exists with its Federal Reserve bank, and Austrian economics, the system formerly in place in the US before the establishment of a central bank in 1913.

"We just have been re-inflating a bubble, and re-inflating, and re-inflating, and all we got out of it this time is a baggy, and now that's starting to collapse. Everyone should be prepared for something very significant. I think that there's a big correction coming, much bigger than we went through in 2008. Something really bad is coming. Great Depression number two."

These sobering words match not only what we have been reiterating here at NaturalNews for quite some time (http://www.naturalnews.com/032258_economic_c...), but they also reflect the warnings repeatedly given by Rep. Paul of Texas, who is once again running for president in 2012. And what was once considered to be lunacy by the masses is finally being accepted as truth.

"The whole problem is central banking, fractional reserve banking," explained Byrne, inferring that a system of money backed by nothing, as opposed to one backed by something tangible and of value like gold, is a critical flaw in our economic system. "Everything since then is just rearranging deck chairs on the Titanic."

When finally asked, based on his answers, whether or not he supported Rep. Paul's presidential bid, Byrne responded resolutely with, "Oh yeah, absolutely, Ron Paul, no question."

Be sure to watch Byrne's entire interview at:
http://www.youtube.com/watch?v=k6TbAMHAqsM

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