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.


  • Ron Paul is the “Common Sense Brainiac” America desperately needs!!!

    VOTE OR DIE!!!! RON PAUL 2012

  • bestkeylar

    Ron Paul is the “Common Sense Brainiac” America desperately needs!!!

    VOTE OR DIE!!!! RON PAUL 2012

  • Glad to see somebody got it.

  • thrummer1953

    “The world will give up on the Dollar”.
    That’s the whole idea folks!

  • roygib09

    please ron paul win, you’re our only hope for this country but most likely it wont happen because the media treats him as a joke, and most americans are ignorant enough to believe everything the media says

  • EveryDayVlogger

    Seriously, Ron Paul is the shit… Too bad people are too retarded to vote for him. 🙁

  • Bob

    The problem is in the income tax system or structure. The forms are no longer just a a tax form. But a decleration to the government that you as a tax payer are in debted to them and working for them. That you under contractual agreement will pay your tribute. To them.

    It is a matter of time. Some where before 2013 that the American dollar will be replaced. With a knew currancy. The dollar has served its useful mission and the contract with the US Bank was a 99 year contract. Between the Fed and the Government and bank. Formed in 1913

  • senses2000

    End the FED!! The Constitution ended the Bankers hold on America. Then Andrew Jackson killed them again. Finally Abraham Lincoln fought them off and started printing our own money. Somehow in 1913 they stuck it to us again and the Bankers started to print money for us instead of our own government. Now there is no one to print the interest to pay it back. We are in an infinite debt spiral – which is Un-Constitutional. Ron Paul will end the FED if we elect him. He has been consistent.

  • sunRsaturn

    Not only is western currency worthless, but the degenerated population is as well. Look at the ratio in government. Ron Paul, and the rest a complete degenerate morons. Same with western society.

  • sunRsaturn

    So will most Americans. Food stamps will be the currency soon to keep the conquest of the western empire going.

  • veganath


    Can an economist explain why when the Fed prints money from nothing(guise of credit) that for the proportion that they increase the money pool, why I don’t receive a similar proportional increase in my monetary worth, you know, in the same way that when a publicly list company does a stock split say 2 for 1 which halves the value of the stock, I am compensated for the dilution of value inherent in the increase of supply? PLEASE!!

    I’m not American but I love Ron

    • Bob

      You do, you just don’t realize it in hand right away. It is the so called cost of living adgustment.

  • Beebostomp

    All Ron Paul talks about are the the issues. Every other candidate will talk about ANYTHING but never about issues and solutions.

  • shortfu

    Wanna know why Ron Paul statement that the world will give up on the dollar is so true? Well, because I’ve already given up on the dollar and I’m an American! It is in just due time.

  • shortfu

    Wanna know why Ron Paul statement that the world will give up on the dollar is so true? Well, because I’ve already given up on the dollar and I’m an American!

  • touretul

    most, if not all, of USA financial deficit is due to the war machine that the state feeds. So the state is more and more poor, but the fat cats from the armament industry are fater and fater. that’s why you have also second amendaments right in USA. not to protect you from dictatorial regims, but to by guns, and feed even more the fat cats from armament industry. so the comon people are more poor, and the rich people more rich.

  • BunchesMcGee

    Dr. Ron Paul cured my apathy. His prescription? Truth.

  • DirectionalChange

    Ok, cut the chit chat here lady…Ron Paul gets voted in as our next REAL president…then we re-implement the Glass Steagall Act , go after all banks, banksters, seize all accounts, audit all of them, remove the FED, as well as fanny may and freddy mac scam, get all our trillions back from these banksters and wall street scum, cut 75% of the government from our system. Thats only the first half of the first year ….wake up people…STOP the criminal chaos … vote Ron Paul in 2012

  • ICantDecryptTheCode

    despite the fake appearance that ron paul has millions of fans, he still we be getting last place in the ames straw poll. AGAIN. Give up Paul. This will be your 3rd failed quest for the presidency.

  • Terminxman

    While I disagree with Ron Paul on a few issues, such as how he wants to get rid of income tax, and social security. I honestly have not found a better candidate. Capitalism obviously doesn’t work in the long term, no income tax for the rich will still leave them with all of the money, the income tax cap needs to rise exponentially and share the wealth with the rest of us.

  • King100Joe

    these guys need to be killed. this is easy enough for me. i am having them killed. The rest of you americans will have to pay too. it’s a price you will have to pay now. it’s actually too late for you. it’s time.