Ron Paul: The World Will Give Up on the Dollar


News Anchor: Well as the debate heats up over the debt so do the warnings, GOP presidential candidate and Texas Congressman Ron Paul says these harsh words for the White House “In Washington, if you hear about a so called deal, you can be sure the taxes will come, but the cuts never will.” He’s also warning Republicans not to fall for any deals from Democrats, he’s joining us live now via Skype from Texas to explain why. Hello Congressman, good to see you today.

Ron Paul: Hello, good to talk to you again.

News Anchor: Alright, so you’re convinced that regardless of what kind of deal they work out, in the long term you think the spending cuts aren’t going to come, why not?

Ron Paul: Because the problem is too big, I don’t question their good intentions, I think a lot of members of Congress on both sides would like to get this behind them, but the problem is too big, there’s too much momentum, big government is there, nobody wants to cut the military, nobody wants to cut the entitlement. So they make this pretense but I don’t think the cuts will come, they talked about this in 1980s, they said if we raise taxes we’ll do the cuts, but the cuts never came. So and I work on the assumption that only this year’s budget is what counts. If you promise to cut in the next 10 years $4 trillion, I mean why should that reassure the public or why should that reassure the marketplace, it’ just putting things on. We have to decide as a country on whether or not we should be the policeman of the world and whether we can afford this entitlement system, and those are the two questions that they do not ask.

News Anchor: Well, Congressman, that sounds pretty pessimistic that we’re not going to turn this around, that the appetite for big government is insatiable at this point, so what’s the long-term bid of hope, is here any in your view?

Ron Paul: Yeah, I’m very hopeful, I’m very positive on the long run but I think we’re going to go through a bankruptcy first because everything we’ve done so far is just spend more and run up the deficit and print more money, and eventually the world will give up on the dollar and then we’ll go through the ringer through the bankruptcy and every reason in the world we’ll come back to our senses, maybe we’ll just follow the constitution, do only those things that are authorized, have sound money, don’t allow the Fed to print money and have a sensible foreign policy. But they’re not on the verge of this, but the people I talked to around the country, many of them young people are ready for it because they know they’re getting a bad deal, and they can’t afford, they can’t even get a job let alone pay for all this, all the wars and all the entitlements. So the whole process is coming to an end, that’s why I’m predicting in the next week or two or a month or two, they’re not going to come up with a solution that’s going to satisfy hardly anybody.

News Anchor: OK, so Congressman you’re looking past just the idea of possibly defaulting August 2nd or in the neighborhood there as we’ve been warned by the treasury department treasury secretary Geithner, you’re predicting an all out collapse of the U.S. Dollar and bankruptcy for the United States?

Ron Paul: Well yes, I mean we literally declared that already, one time we promised we’d pay in gold for our dollars and we declared we didn’t have that, but now we default all the time because we print money just to pay our bills and the dollar goes down in value. So if somebody pays you $10,000 they owed you a year ago, you’re only getting probably $900 and the government wants to pay their debt with cheap money. So they want inflation, they want devaluation, it’s the only way they can politically liquidate the debt. The other way you liquidate debt is you just stiff everybody and you don’t pay your bills. But we’re going to pay our bills, everybody is going to get paid but the money is not going to have any money.

They’re talking about changing the CPI right now so that they don’t raise the benefits to people under social security and they’re going to say it with a straight face and say “Oh the cost of living isn’t going up,” so there’s all kinds of way governments manipulate and worst manipulation is the depreciation of the currency and I don’t see how they can stop it. Because there’s no serious attempt to cut back, if they did, if everybody was worried as I am, they would get together and cut everybody’s budget 10% and save a lot of money right off the back. But there’s no suggestion, no attempt to do that, no attempt to bring our troops home and no attempt to say, “Maybe we’ve overextended ourselves with the entitle system” and it has nothing to do with what we’ve been authorized to do in the constitution, so this is why it is big, it is significant and what happens here in the next week or two and some type of agreement I project they’ll probably raise the debt limit but they won’t be coming any closer to the solution.

News Anchor: Alright Congressman I want to mention that at another important straw poll last night out of New Hampshire you came out on top again, you have great success in the straw poll arena, how are you feeling about your chances in New Hampshire come primary time?

Ron Paul: Well better all the time, so I was very pleased to hear that and we’re going to keep working very hard in the various states especially the early states, we were glad to hear what happened in New Hampshire.

News Anchor: Alright Congressman, we thank you very much for your time today, we know there’s a lot of work ahead on these very important issues and we wish you the best of luck.

Ron Paul: Thank you very much.


  • labartic

    you think more taxes will result in GE paying more? These mega corporations write the tax code with the government, thats how they get around all the taxes. Its the mid and small businesses who lack the high powered tax attorneys and legal experts to get around all the tax code, hiding their profits overseas, and avoid the taxes completely. So you can say “raise taxes” and they will go up for small and medium businesses, but the GE and EXXON will still pay zero in the end. Lower them all.

  • MandragGanon

    God bless Ron Paul. I’m with you sir!


    GOD bless Ron Paul! Real hope for America.

  • deke76

    No company pays taxes – their customers do. You can load GE up all you want with taxes, but it’s not like it comes out of their pockets. They just pass that cost on to you.

  • purpurpledog8

    So you think grandma should give up her social security payments so General Electric doesn’t have to pay taxes. That, my friend, is warped. One of these days you will realize that you are a slave to the upper 1% just like the rest of us, and maybe then you will come off your high horse. Big business does not create jobs with tax breaks, they gamble it away on the stock market. Grow up.

  • 762foru

    General electric employees are exempt from taxes? Man, I need to get a job there!


    I can’t believe fox can speak respectfully to Dr Paul knowing they are going to screw him over when the debates come. These media people are all fucked up.

    Good Luck Ron Paul! keep buying ammo America

  • purpurpledog8

    Get rid of the wars. Social Security is not an entitlement, we paid that in. Make General Electric and its ilk pay some damn taxes.


      About GE…. How is it that they don’t pay taxes and yet get yearly rebates?
      Isn’t that corporate welfare? Republican talking heads should be ashamed of themselves for squawking about “socialism” when they support it on a regular basis for their corporate donors/owners!

      And I agree with Ron Paul and other sensible folk that are warning that we can’t afford the American empire and the related expensive,failing attempt to democratize the world with the barrel of a gun.

      The last category of people that should have an audience on the subject of foreign policy is the neocons. Ron Paul served his country. Find one neocon that didn’t duck service.

      Will the world give up on the dollar?
      I think they already started to. It has to do with the “petro dollar”. Tying oil to the American dollar.


    Now is the time to get your signs up.

    Talk to you neighbours and friends.

    Invest in a Ron Paul shirt for every day of the week !!

  • yadig2012

    USA! USA!

  • coalnut

    Thank God, Representative Ron Paul will tell us the truth of the matter, unpleasant and unpopular as it is. If the public and Congress won’t even acknowledge the severity of our problems we have no real hope of a solution. What is that saying?,…..Your actions speak so loudly I can’t here what you are saying. Lip service doesn’t solve a thing. We need financial Responsible policies NOW! It will be a bitter pill but if we don’t get serious we are going to commit financial suicide.

  • BikerBry

    Germany did the same thing after WWII and printed money to pay their war debt and devalued it so bad that people were using money to insulate their walls with it. Took a wheelbarrow full of money to buy a loaf of bread. Why don’t people get it?

  • starlitopensky1

    Right on Ron!

  • MrColts420

    Everytime the gov gets the authority to print money, they always abuse the power and inflate the money until it is worthless… From the Romans on, inflation started with coin clipping and mixing lesser metals such as copper in with the silver coins. With the invention of the printing press, this only became easier and more common

    Its the only way the gov can continue to spend without more taxes, for either war or more welfare programs.

  • CoolCoverBro

    It’s funny, they’ll say Mitt Romney is the front-runner, regardless of what is actually happening in the real polls.

  • r3steve1

    Why is Ron Paul supporting the SOCIALIST Balanced Budget Amendment?

  • MrDeathSmiles

    America will fail because they’ll end up electing anyone that isn’t Ron Paul.

    Did anyone see Romney on Hannity this past week? That man is a snake. Such a fake, lying scumbag.

  • iwant2cryTUBE

    Greek style riots coming soon to an American city near you!

  • helltrackrider

    Anarchy is the only way.

  • aussiedon8

    Sometimes the fight for liberty is hard but this time around it is easy, all you have to do is put your vote next to Ron Paul and restore America.