Karl Denninger explains one reason why:
From Ron Paul’s July 2012 Campaign finance disclosure:
Cash on hand: $2,497,183.28
Debt: $0.00From Gary Johnson’s July 2012 Campaign finance disclosure:
Cash on hand: $14,264.95
Debt: $296,201.47It really is this simple folks. Ron Paul does not believe in fractional reserve lending nor does he borrow against nothing (and since both campaigns are incorporated, there is no “there” there when it comes to campaign “assets” nor can either individual be personally attached to cover obligations) — that is, he walks the talk and has ZERO campaign debt.
Gary Johnson, on the other hand, specifically and personally rejected, to my face, “One Dollar of Capital” (the repudiation of lending against nothing) in February when I was in his guest suite in Orlando, in front of a bunch of other Libertarians and campaign workers. His statement was that getting rid of the ability to create credit out of thin air would “harm the economy.”
Irrespective of what he may now tell you in sound bites in an attempt to try to seduce you to vote for him he has borrowed against hot air to the tune of 20:1 when compared against his cash balance in his own campaign, which means that by his own actions he doesn’t believe in sound money and sound banking — his own campaign is a financial bubble!
Some have noted the irony that I, supposedly one of the Internet’s leading libertarians, does not support or belong to the Libertarian Party. Some have used this to claim I am not a libertarian. I, on the other hand, have always insisted that a number of the Libertarian Party’s policies are expressly anti-libertarian.
I think their choice of a standard bearer in the 2012 election tends to lend support to my perspective on the matter. So, who am I supporting this year? Ron Paul if he runs third party. Otherwise, no one. I don’t vote for evil, no matter what letter appears in front of its name. To quote Mr. Denninger: “I will not be complicit in the furtherance of destruction of our nation’s freedom.”