Transcript
Ron Paul: Mr. Speaker, the Congress is concerned about the debt, the people are concerned about the debt, the markets are concerned about the debt, the world is concerned about the debt and what we’re doing here today, because we live with a world fiat dollar standard and so the whole world is engulfed in this very serious problem.
I do not understand, though, that if the debt is the problem – and I agree, the debt is the problem – that for us to come here and raise the debt by 2.4 trillion dollars is the solution. That just baffles me. I think it’s a distraction, because when a country gets indebted to the degree that we’re indebted, the country always defaults. This is historic, especially if the country is a significant country. On occasion, a small country will quit sending the checks and they’ll go bankrupt; we’re not going to do that, but we will default because the debt is unsustainable.
This year it is said that we have a debt increase of 1.6 trillion dollars, but that’s not true. If you count what we borrow from the pension funds, the Social Security and highway funds, it’s 2 trillion dollars. But if you include the increase in the entitlement obligation, it’s 5 trillion dollars. So this is a huge, huge problem.
But the argument here is, how do you default. And it is said that if we don’t raise the debt limit, we’re going to default and not send out the checks. I don’t believe that for a minute, somehow or another the checks are going to go out.
But if you really wanted to live within the technicalities of law, there’s a very simple thing you could do. We owe the Federal Reserve 1.6 trillion dollars. Well, that’s not a real debt – they bought those treasury bills with money out of thin air. We could just write that off or quit paying the interest, tide ourselves over and get down to serious business to cut back and live within our means. And that would be a solution. But to increase the national debt will only encourage another type of default, and that’s what we’re going through. We’re engaged in the most difficult and a very bad way of defaulting; and that is through the destruction of the currency. Today we have an inflation rate of 9%, and that is defaulting. So if a government can default and print money, and if they can get a 50% inflation rate over a period of time, they’ve cut that debt in half. That is the goal, that is what’s happening, and that is very, very serious.
Just in these last 3 years in dealing with this crisis, the dollar has been devalued 50% against gold, and gold, of course, is the best measurement of the value of a currency and it’s been that way for thousands of years and it cannot be denied because it’s economic law. So we are defaulting, and when the American people go out and start buying goods and services, like they are now, they’re recognizing it costs a lot of money. So right now, we’re in the early stages of rampant inflation, which means we’re going to be hit with higher prices and higher interest rates. That is going to be a tax. So I see the only solution, and that is to cut spending.
Now the reason we don’t cut spending is one side loves entitlements, and the other side loves war. And even this token attempt of a 100 billion dollars of cuts when we have this huge, huge deficit… But there’s no mention of cutting military spending. I don’t want to cut defense spending. This military spending doesn’t defend us, it makes things worse.
Our problem in this country doesn’t come only from the Congress, it comes from the people! The people still have a strong appetite for big government programs. They’re not willing to cut, they think government can take care of us from cradle to grave, and that we can be the policeman of the world. So someday, we as a country, we as a people, and we as a Congress, will have to say, “What should the role of government be?” The founders had a pretty strong suggestion, they wrote a constitution that said the government should be very limited, and the government should be protecting our liberties and providing national defense and a sound currency. We don’t do any of that. We’ve embarked on a course that was destined to end badly and this is where we are today.
So if we don’t understand this, this default will not be because we don’t send out the checks – we will send out the checks – it will be defaulted on because people will get their money back, or they will get their Social Security checks, and it won’t buy anything.
That is much, much worse than facing the fact that we not raise the debt limit and work our way out of this. That is devastating economically, and it’s devastating politically, because if we just saw a taste of what happens, how the anger is built when you see other countries in Europe now defaulting and can’t pay their bills. So this is more significant than ever, because we provide the reserve currency of the world.
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Only Ron Paul can unlock the GRIDLOCK in this country. And the other Republican dingle berries want to kick Iran while their down Oh’ stop it! please
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Only Ron Paul can unlock the GRIDLOCK in this country. And the other Republican dingle berries want to kick Iran while their down Oh’ stop it! please
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i was going to post “if pro is the opposite of con then what is the opposite of progress?”, but someone beat me to it =’(
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The opposite of progress is congress
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I wont vote at all. I’ll buy a gun and learn how to can veggies.
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Congress,
Please remember to tell your best wishes to the president. Remember, he’s your servant! It’s his job to help you answer the wishes of your employers, the American people.
Now please hold up two fingers (the peace sign) and ask yourself these two questions:
1. What is your best wish for yourself?
2. What is your best wish for the world?
Then make the peace sign often to remind yourself that you have two wishes that must come true.
For your car:
How’s My Driving?
Call 1-800-KISSMYBUMPER
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Congress,
Please remember to tell your best wishes to the president. Remember, he’s your servant! It’s his job to help you answer the wishes of your employers, the American people.
Now please hold up two fingers (the peace sign) and ask yourself these two questions:
1. What is your best wish for yourself?
2. What is your best wish for the world?
Then make the peace sign often to remind yourself that you have two wishes that must come true.
For your car:
How’s My Driving?
Call 1-800-KISSMYBUMPER
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vote him Paul if you think Paul should be president regardless of if he win’s the GOP nomination, taking the ‘lesser of 2 evils’ is what got America into the mess its in.
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Eoor
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ron paul. vote for him. althought 80 percent of the time the one already president gets re-elected.
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Ron Paul’s December 16th money bomb is at 2.3 million (4 million to win).
Donate now, and spread the message!
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“The gentlemans time has expired” wow!! Is Ron Paul the only one who can see what’s going on and how were destroying ourselves!!! Unreal!!
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Kids Page. Services for Tennesseans.
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I’ll vote for Ron Paul, but if he does’nt get to the general election I’m voting for Obama. These other republicans are a joke.
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He is the only republican out there that is honestly the only one that isn’t radical, misinformed and just going against everything Obama says (which can be said to be true because many have been caught saying that getting Obama out of office is their first priority). If he isn’t the candidate for the republicans I’d rather have 4 more years of Obama.
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THESE JACK-OFFS ARE TO BLAME FOR THE ECONOMY, AND NOW THEY
WANT TO FIX IT?
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OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS – OCCUPY CONGRESS
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Please watch: Money as Credit. A Worker’s Paradise.
youtube.com/watch?v=eyhMAxDspsw
It’s the FED’s obligation to keep unemployment low. To keep inflation low. And to support maximum growth. Make them do it! It’s easy enough as can be seen in this video. For the opinion of a reputable economist, Please read the article ‘The wonderful world of negative nominal interest rates’
»crosslinked«
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You say it my man!
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Ron Paul is right!!
We CANNOT handle 4 more years of Obama, bankrupting the entire world too
Vote TRUE Change in 2012!
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Life is a Movie!!!
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There will be 10 Airplane Companies in the United States. United Airlines. American Airlines. Southwest. Jet Blue. Delta. Eastern Airlines. Etc. They should be all government. Parachutes are on board. etc.
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Were goin’ to begin farming. Agriculture. Land development. Pipeline. Infrastructure. Electric cars. Hydrogen buses. Clean energy. Airline companies are government. There’s no more government hiding behind corporate bail-outs.
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80% of things in this world is mind. 20% is the self. Department of Education (school building) is obsolete for example. Back then Parents didn’t go to school. They were home schooled at the farm. No problems whatsoever.
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I also like what Ron Paul says i just feel strongly all around Gary has a better plan, and hes very repressed, i dont beleive i have ever heared Ron menchion Gary at all ,,,And exsposeing GOOD poloticians is what its all about right?
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I also like what Ron Paul says i just feel strongly all around Gary has a better plan, and hes very repressed, i dont beleive i have ever heared Ron menchion Gary at all ,,,And exsposeing GOOD poloticians is what its all about right?
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Every time a bank lends out money, it creates that same, new amount into circulation. But it also wants interest and THAT money it does NOT create. Our money system is an ongoing process of creating more debt than there is money. Therefore, only NEGATIVE INTEREST MONEY can make debt crisis and unemployment go away! Please watch my films youtube.com/watch?v=7kk6fplyLTI on NEGATIVE INTEREST to see how.
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Every time a bank lends out money, it creates that same, new amount into circulation. But it also wants interest and THAT money it does NOT create. Our money system is an ongoing process of creating more debt than there is money. Therefore, only NEGATIVE INTEREST MONEY can make debt crisis and unemployment go away! Please watch my films youtube.com/watch?v=7kk6fplyLTI on NEGATIVE INTEREST to see how.
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Ron Paul the Ultimate Dr. Jekyll and Mr. Hyde !!!
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I THINK THAT WE ARE ON A RUN AWAY TRAIN THAT CAN.T STOP AND THE GOVERMENT KNOWS THIS
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Come to PA Straw Poll this Friday! (http://www.pagop.org/2011/09/presidential-straw-poll-and-fall-dinner/) Young Republican tickets are half price ($50 instead of $100) and Young Republican tables are ($500 instead of $900, a table seats 10 people). Note you must contact Angela Nielsen (anielsen@pagop.org) at phone number 717-234-4901, ext. 131. to order tickets at the YR rate.
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He did an outstanding job in the last debate. If only people knew the truth about what happened in the 2008 election with Sarah Palin
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The problem is Bernanke, I wonder if he photocopies his ass as much the dollar ? lol
Go Ron Paul
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if he doesn’t win in 2012 which he will, i’m all for him starting a Ron Paul nation!!
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GEEZE. I FEAR for this man’s LIFE… God help him, if he starts to do really well…
(Which he may, this time, and I hope he does..) But God help him, and good luck, if he does.
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