Saturday afternoon Ron Paul addressed a crowd of about 500 people in front of the Fed building in downtown Houston. They had come together for one of many End the Fed demonstrations throughout the country.
Here’s a partial transcript of Ron Paul’s speech (slightly edited for clarity):
“It is a great event, and I understand that there are a lot of events like this throughout the country. And this should be very significant. We won’t be on the evening news tonight, I’m quite sure of that around the country. But we are on the evening news every single night, every single day, and we’re on the minds of the people every single day because there is a crisis in this country that is as bad as, if not worse than the crisis of the Depression of the ’30s. That’s on endlessly [on TV], and we know who caused it. It was the Federal Reserve that gave us all this trouble.
Concern and interest about monetary policy comes and goes. When things are in the boom phase of a cycle, everybody loves it, and they ignore it and they don’t care because they’re getting a free ride. We’ve had an especially good free ride for decades now, because we’ve had a system that was devised where the dollar could act as if it were gold. This occurred since 1971 and it was absolutely beneficial to us because we were printing the world gold, in essence.
The rest of the world was willing to take our dollars. We knew they were building this huge financial bubble, and we knew it would come to an end, so now, the economic crisis is the top agenda in the whole country. Our job is to make sure the people come to the full realization and understanding of the relationship of who controls the money and why we have the economic crisis. That is what the job is of campaigns and organizations and rallies like this, so I complement you for coming and joining in and understanding this issue.
When the Bretton Woods agreement broke down on August 15th, 1971, it brought about loud cheers in the marketplace. Stock markets soared, Nixon closed the gold window, put on wage and price controls and he raised taxes.
The business community loved it, until a few days later they realized it was a disaster. The 1970s turned out to be terrible… inflation and recession. But it brought about a new economic system. And since that time we’ve been able to spend beyond our means, live beyond our means, print money beyond our means, and all live much better than we really had earned.
On the surface we had an appearance of great wealth. But it was doomed to fail, and that is what the announcement has been in this past year: the failure of the dollar reserve standard that was set up in August of 1971. It has ended.
The only question that is to be answered right now is, what is it going to be replaced with? And believe me, they’re working very hard to devise a new system, and they’re talking about an international fiat currency paper system with the loss of U.S. sovereignty in total. Our goal has to be not only to restore the integrity of our money and our dollar and our Constitution; we have to stop this move towards one world government and a one world currency!
Periodically, the money issue soars to the forefront. It’s there right now today, but there’s a lot of work and lot of danger because if we don’t win, we lose our liberties and we further lose our Constitution. At the time of the Constitutional Convention this was one of the key issues. It was a monetary issue. They had gone through runaway inflation with the Continental Dollar, so that is why the Founders knew and understood that they had to put prohibitions in the Constitution.
They said, no admitting of bills of credit, no paper money, only gold and silver is legal tender, and no authority for a central bank. And of course the hard money people won that argument. The Constitution was written in such a way that we knew that gold and silver were to be legal tender and that there would be no central bank.
But immediately after that the Federalists changed it all, established a National Bank. The big argument between the Jeffersonians and Hamiltonians started right of the bat because throughout all history there has always been a fight over who can control the money. So what we’re facing today is not brand new.
It is the power of government that wants to control the money [so] it can control the people. The freer the country, the more likely it is that you will have a sound currency with no national control of the currency whatsoever.
But, that didn’t last long. Of course we do know that when Jefferson had the chance to deal with the first National Bank, what did Jefferson do? He got rid of the National Bank… only for the Second National Bank to be established. Then along came another hard money man who said he didn’t like the bankers and he didn’t like government power designed and worked around the monetary issue.
So who came along to get rid of the Second National Bank? That was Andrew Jackson, and he got rid of it. But lo and behold, in 1913 the American people were complacent and the Congress was complicit in it went along and said, we have to have a National Bank once again, so the Federal Reserve System was set up. And so we’ve been struggling. We’ve been struggling since 1913. The dollar was linked to gold up until 1971. But the erosion continued, and now we’re seeing the erosion of our prosperity.
What we are now seeing, which is to our benefit, is the writing on the wall, and the end of this system that we have today. They cannot patch it up, they can’t up it back together again. They know it and we know it. The only argument is what is it going to be replaced with?
The other day Bernanke was before the Banking Committee, and I asked him explicitly, because he had just been in Europe, whether he had talked to the other central bankers. Had they any plan whatsoever for an international reserve currency? He said no. But you know, he’s on the side of the law, not the side of the Constitution, and the law is written that he has no obligation to tell us anything of what he does. Monetary policy, any kind of conversations with other central bankers, the law explicitly says that he does not have to reveal anything that he does.
So I pressed him a little bit further and said, does the subject gold ever come up? And he said no, and then he quickly corrected himself, because he really wanted to destroy the concept that might someday move in the direction of having a commodity standard. So he quickly said, oh yeah, it comes up when we talk about selling gold.
But what he’s saying there is very, very important. He he admitted that the central banks do get together, they do talk, and they do dump gold for a very precise reason. They do that to pretend that the dollar is still more valuable than it really is. In the 1960s up until ’71 Nixon and the Republicans and Democrats alike, because the law said the dollar, after Bretton Woods was established in 1944, the dollar was as good as gold at 35 dollars an ounce.
So foreigners started coming in. They knew we had printed all this money, and they started sending the dollars back. And we had given away [a large quantity of] gold at 35 dollars an ounce. We were running out of gold because we had abused the system, and that’s why that had to come to and end.
But in a way they were giving away this gold at this artificially low price to try to prove the dollar was really strong. Well that broke down, and the dollar was devaluated, and we’ve had all the inflation that came.
But they’ve done this now in the last 10 or 15 years I’m convinced, because they do admit it. Central Banks in the West especially have been dumping gold to artificially lower the price of gold, in order to artificially pretend the dollar is of great value.
And they’re still doing it, but they’re running out of time and they’re running out of gold. The gold is getting into the hands of the economic powers who are stronger, and those are the ones who have been working hard, saving money, loaning the money back to us, and are ready to buy up America if we continue to do this.
The Asian banks are buying the gold the Europeans and the Americans and others are dumping gold, so the other nations, including Muslim nations, even before the Banking Committee I did point out to Bernanke that the Iranians had just bought 75 billion dollars worth of gold and put it in reserves.
So, it is a contest, there is no doubt, it is a contest between [fiat] money and hard money, and that is such an important issue. To me the money issue has been key.”
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Dear Ron;
Couldn’t the Gov’t or Fed decouple Gold from the PAPER price on the Comex then when Gold his say 2,500 or 3,000, go to a partial Gold Standard for banking and international commerce? Then with Gold at that price linked to the dollar we could pay down a chunk of our national debt. COMEX paper Silver and Gold is what’s artificially keeping prices too low.
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Hi, I like your website, and I love Dr. Ron Paul. It is a shame that he did not get into office, but then again, it is nothing new, since our mainstream media spits in the face of anyone who tells the truth. Keep up the good work, tell Mr. Paul I love him, and I wrote him in on the ballet on November 4th. God Bless you always Dr. Paul. I love you, and Alex Jones. I am a traditional pre-vatican 2 catholic, so I am against the NWO. Take care. Love Lynn.
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whatch: youtube video, martial law plans revealed. God help us!
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For the past year all I’ve done is surf the new reading alternitive news stories,and watching youtube videos of everything under the sun. I found a link of stories that has a scary ending. I wont get into it, but I will tell you my path. I was listening to George Norrey on coast to coast a.m. radio, and he had a guest that said we were 2 min. and 40 sec. away from the feds declaring marshall law concerning the bail outs. I hear on an other show a audio tape of fed chairman saying the Fed is above all three branches of Govn. Marshall law sounds bad, but I never knew until today what it in tails. Today I read about FEMA coffins, and Georgia guide stones, and box cars with shackles welded into them. It brought me to http://www.assatashakur.org. after viewing all the info then reading a lengthy article on the plans of the NWO for Marshall law. Ending the Fed might kick this whole thing off. check it out, very scary, and mind blowing stuff-luv ya Paul
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Why did the Bretton woods agreement break down in the first place? It would be nice to get a sense of the previous failure to understand any unintended consequences. Thank you!
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http://www.publiceye.org/conspire/flaherty/flaherty6.html
read this. they says that fed is audited by each year… what’s up? i don’t understand it.
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They mention later in the article that the GOA was prevented by law to audit certain information. Information to me that might make a case against the fed.
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Raven,
To answer your first question,Ron Paul’s comment regarding the FOIA lawsuit what right on point that – it was a waste of time, because even congress is not privy to who is getting what money in the bailouts. The only remedy is a congress that is willing to take back their constitutional responsibilities regarding money, through legislation. See http://www.pyrabang.com/view.php?ref=dandan&post_id=7340
To start answering your many other question, I might suggest that you go to http://www.lexrex.com and do a search of ‘paper money’. I did so and came up with 33 articles on the very subject. Here is the link to my search: http://www.pyrabang.com/view.php?ref=dandan&post_id=7344
I hope this helps.
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A little P.S. to my earlier reply –
Raven, that was a dirty little trick in your post, to say,
“Feel free to e-mail me about this (click a commenter’s name to e-mail them).”
and, to quote an old Harley T-Shirt I used to have, “If I have to explain, you wouldn’t understand.”
While it is OK to have your ‘commenter’s name’ be a link to your T-shirt website, I certainly hope that no one wears any of them at a Ron Paul event. While I stand for your 1st amendment rights, I still stand for common decency.
“…it is Religion and Morality alone, which can establish the Principles upon which Freedom can securely stand. The only foundation of a free Constitution is pure virtue, and if this cannot be inspired into our people in a greater measure, than they have it now, they may change their rulers and the forms of Government, but they will not obtain a lasting liberty.” (John Adams, June 21, 1776)
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How is it a trick? last I checked the comments on sites like these always link your name to either your e-mail address or your website, and if it does the website a link to e-mail me is there and easily visible. But sites like this also don’t usually have a way to notify you upon reply because they don’t keep track of your e-mail without registration.
Not sure what would be wrong with wearing most of those shirts at a Ron Paul event since none of them are against his principles if I recall correctly. Of course a supporter shirt in that case would obviously be better. And it’s not a T-shirt site it’s all my pages.
Yet apparently you actually had nothing to say about my comment and were trying it anyway? Or something? Or has your e-mail not reached my inbox yet? (Yahoo! delays it sometimes).
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I don’t know what you’re talking about in the first sentence; nothing I said has anything to do with any of Ron Paul’s comments in specific. As for the links I haven’t checked them out yet but I’m going to guess they’re along the same lines as Zeitgeist: Addendum even so. In my opinion it’s something other people haven’t even thought about, that rice has no value either save that of eating it.
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What’s the point of suing the Federal Reserve? Since they’re the ones that print the money.
Anyway, I still don’t understand why paper money is a problem. Obviously, the Federal Reserve needs to be abolished, because they’re criminals; terrorists. But the alternative, according to Ron Paul, and everyone else who wants an “different-the-current money system,” is silver and gold. Well it obviously can’t be created out of nothing, at least not by humans, at least not yet. But it can be “mined out of nothing”; that is, if you need some, go mine some. And you have to pay the workers who do that anyway. What else has been used for currency in the past? Corn? Rice? Well they certainly had plenty of that around. You have a paper currency, you can print of much of it as you want. I know this affects us internationally, but how does it affect us within ourselves? It affects us now because it’s being controlled by a massive, deceitful conspiracy of the Federal Reserve. Even a 4-year-old knows money as it is is created out of nothing, EVERYONE knows that yet not everyone knows about the criminal activities of the Federal Reserve. Anything can be used as a currency as it will be valued as we value it, if we were to do it that way instead of being told how to run it by the current “system”.
Internationally, printing money poses a problem because internationally, we are considered to have only a certain amount of “money” so that amount is divided by number of dollars (I guess)? But every “advanced” country uses a paper or comparable money system. So international values are placed on these pieces of money rather arbitrarily. Who decides these values? The UN? Not every country participates in the UN, so how would that work? Next you say it’s the bankers – but if the bankers are the ones creating the problem they could just devalue any money they want as much as they want just by saying “This dollar has so much value”. And if that’s what was happening that’s what the complaint would be, rather then complaints about printing too much of it. So let’s say we had paper money, but without a central bank. And we print trillions of it. Then what happens? A 20 oz. Pepsi costs $100? Okay… but then $100 just wouldn’t be considered so much money. Or if whatever currency is being used, $100 trillion pieces of it gets printed tomorrow. then do we suddenly become poorer then Ethiopia? How? Richness or poverty is supposed to be based on property, which is the entire point of these campaigns. Currently, the Federal Reserve has this elaborate scheme to take out property, and that’s what the problem is. But aside from Federal Reserve, what’s wrong with it? Nothing backing it? What backs the gold? What does it mean? Nothing means anything. A paper money system doesn’t make us poor. That doesn’t make any sense. The Federal Reserve’s criminal activities make us “poor”. And yet, the country itself can’t get any more or less poor based on how much money is printed, it can only change the value of the piece of paper. Which means nothing in the first place. When the Fed prints $100 trillion dollars, guess what?… The country still has exactly the same amount of property as it is beforehand, as does the government. How does that increase our so-called debt to other countries? If it lowers the value of the dollar, then it will just take more dollars to pay it with, but that’s okay because the country now has those extra dollars to pay with. And what are we boring from the other countries anyway? Pieces of paper.
Feel free to e-mail me about this (click a commenter’s name to e-mail them).
I am a Ron Paul supporter.
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Actually this was on the news for like 30 seconds in Chicago.
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“I do therefore invite my fellow citizens in every part of the United States, . . . to set apart and observe the last Thursday of November next, as a day of Thanksgiving and Praise to our beneficent Father who dwelleth in the Heavens.” (Abraham Lincoln, October 3, 1863 – Proclamation of Thanksgiving)
“Statesmen, my dear Sir, may plan and speculate for liberty, but it is Religion and Morality alone, which can establish the Principles upon which Freedom can securely stand. The only foundation of a free Constitution is pure virtue, and if this cannot be inspired into our people in a greater measure, than they have it now, they may change their rulers and the forms of Government, but they will not obtain a lasting liberty.” (John Adams, June 21, 1776)
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Wow, thank you Dr. Paul. Thank you for standing up for the truth and for keeping we the people informed and stirring our hearts to create change. God bless you!
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Impressive! I am grateful that we have at least one person in the government fighting for our rights. Thank you so much.
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Wouldn’t it be nice if the media in rural America would publish the real goings on in the rest of America. And the World for that matter. Some of us are so isolated we have a hard time getting at the news let alone the truth in any comprehensible way.
Thank You Ron Paul! We need you in Hometown America.
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Please Dr. Paul NEVER stop fighting for us! We need more voices out there like you. Please continue to facilitate the national support of other like-minded candidates.
Thank you.
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Ron Paul , thank you sir for telling the truth.
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I am sorry to admit that I missed the rally here in Baltimore. I am proud of all of you who stood up to make others notice who really has the power (money). If our once great nation is brought to ruin, it will be on purpose. Only an informed citizenry can save it. A friend sent me a great article on the history of the FED. http://www.pyrabang.com/view.php?ref=dandan&post_id=33
In God We Trust,
Dan
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