Judge Napolitano: Washington constitutional icon Ron Paul understands the danger of government better than almost anybody else in Washington. He says the election on November 2nd – just about 3 weeks from now – is so crucial to the future of our republic. Congressman Ron Paul joins us now, Dr. Paul, it’s a pleasure, welcome. You have said…
Ron Paul: Thank you very much.
Judge Napolitano: That we may very well be on the verge of a revolution, do you mean this in a good way or a bad way? Are horrible things about to happen or terrific things about to happen in the relationship between the government to individuals.
Ron Paul: Well I think the revolution is inevitable, I think we’re in the early stages. I think it can be very good and I work on the assumption that we can keep it good, but I do not believe the revolution will go without a lot of turmoil. Because I’m expecting more financial trouble, a dollar breakdown and a lot of bills that won’t get paid, the checks are going to bounce. But on the positive side, the Tea Party Movement and what’s going on in the universities with the young people, the interest in Austrian economics, the interest in curtailing the power of the Fed, this is all very encouraging, and because of our traditions I believe we can come out of this doing quite well. We just have to admit the fallacies of the system that we have. We have to admit the Keynesianism and socialism and welfarism and inflationism doesn’t work. And once we do that, our solution is going to be relatively easy.
Judge Napolitano: Aren’t we sort of caught in a box? I mean even if the Republicans take over the House and the Republicans including perhaps your son Rand, take over the Senate. For example, the financial regulatory bill, the so called Dodd-Frank Bill that everybody abbreviates by calling it FinReg, that’s essentially managed and essentially paid for by the Fed, by the Federal Reserve. So a Republican Congress couldn’t even defund that if it wanted to, right?
Ron Paul: I think that’s irrelevant at this point because we’re not going to reverse it systematically, we’re going to reverse it and replace what we have in a dramatic event. You are well aware of what’s going with nullification.
Judge Napolitano: Right.
Ron Paul: They have a law in California dealing with marijuana. Well, they’ve essentially nullified that, and it’s going to continue, so there are going to be a lot of laws like this, and if the checks bounce, the states are going to assume responsibility for themselves just as individuals will and things will work out. But we need eventually though to have people in Washington that will restore and believe in these values of limited government and balanced budgets, honest money and all these things that made America great.
But no, I don’t think Congress is going to change right after this election and we’re going to have a few more Republicans and all of a sudden these laws are going to be reversed, no. But the momentum then I think will go back in our direction, at least that’s what I’m hoping for and that’s what I’m working for.
Judge Napolitano: Alright, you said that we may be on the verge of a Soviet style collapse. Now when the Soviet Union collapsed, basically the countries it had subsumed before, during and after World War 2, broke away and became separate and independent countries. Some of them with tremendously free markets that became the engine of great prosperity. Do you think that some of the states of the United States of America might very well say to Washington “It’s your problem, stay out, we don’t want to have anything to do with you, we’ll survive on our own.”
Ron Paul: We’re going to have a lot of that, and that should get better, and that’s what we really have to work on. But what I’m referring to is the giving up of our empire. The Soviets literally gave up their empire, and we will, for financial reasons, we won’t be allowed to have a presence in the Middle East, we won’t be allowed to… we won’t be capable of paying for the troops in Japan and Germany and doing all these things. And that to me will be good. We will draw back, take care of ourselves, take care of our borders, take care of producing wealth here, bring the jobs back, get taxes down low and balanced budgets and that will be good.
So yes, it will be reversed but I do not foresee that the states will become independent, but more independent than they are now, they will have to give their dependence on the Federal Government and they will, because the Federal Government will be proven totally inept, they will have ruined our system, they will have ruined the welfare system. Unfortunately they will have ruined the corporate welfare system as well as the foreign welfare system, and we should plan on that and see this as a good thing and a good opportunity for us to do something simplistic, like, why don’t we obey the Constitution? And that will solve…
Judge Napolitano: Keep defending that Constitution and sound money, Congressman Paul, thanks very much for joining us.