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.


  • 4evaFranyify

    I’m 14 and I taught myself politics because of Ron Paul. I’m going to tell my parents to vote for him. I’m going to tell my friends to tell their parents. I’m going to grow up to become a true American Politician that defends the rights and liberty of the people through the constitution. Go Ron Paul!

  • msungs

    Ron Paul, just some friendly information…I already gave up. I took 95% of my capital out of the US Dollar, quit my job as a Policeman and left the country. Now I have land in Northern Europe, gold, silver, and francs. The smartest decision was to get out from under the ”Owe”bama regime that is headed by the Federal Reserve as ”Federal” as Federal Express. Ron Paul is America’s only hope but cannot win because the media plays games with him and most Americans are too dumb/ignorant.

  • jeremytones

    americans are too scared to do anything about overthrowing a government

  • mnickles89

    He’s the only one id vote for….

  • SuperAtheist

    the next president is screwed.

  • xxxBradTxxx

    the US dollar is now worth-less than the canadian dollar

  • kalvin6996

    Ron Paul 2012 Restore America! Objective: End the FED, End Tyranny!

  • Razlo5000


  • i8hy6e3

    I hope americans think about the future than the present. the world won’t be changed at all. you are so violent and stupid. learn how to do not kill each other.

  • vsnips

    Ron Paul = truth hero

  • mrdoonbeg

    Do Straw polls have any effect on GOP?

  • NuclearSiege

    138 likes……0 dislikes…… it speaks for itself. Throw a Ron Paul bumper sticker on your car. Get out to the events when they are in your city, and start getting your community talking about this. Family and friends need to wake up and help get this man in office. EVEN if he does not get into office because of the corrupt voting system he will still have the power to educate millions during the debates. We are winning this battle people. Keep it up.

  • bunebuer

    Ron Paul is the spirit of 1776

  • wellingtonian

    Keep your powder dry everyone.

  • lilsm555

    More people need to find out who he is

  • ditendo

    The cost of living is not going up, it is the people who cant spend wisely. This message was approved by Romney who thanks the big banks for their generous donations.

  • JoshuasRevenge

    who’s the idiots who think the cost of living isn’t going up??? you have to be super sheltered or moronic to see that the cost of living isn’t going up.

  • OldSkaterGuy

    We need to break out the guillotine and get some banksters to volunteer to see if the blade is sharp.

    No Really!

  • UKLooney

    Don’t listen to this kook! When has he ever been right?

  • CardinalJunky

    We keep putting off the tough decisions and we ignore the hard truth. We should be fearing for our future, instead of just carrying on. This is on the citizenry too. We must demand more out of our politicians and stop letting them draw our attention on Reps vs Dems, while we get fleeced by them both.