Ron Paul: Rick Perry Is “Politically Astute” on Federal Reserve and Secession




Transcript

Larry Kudlow: For an exclusive interview, Texas Republican Congressman Ron Paul, who by the way, is not only a presidential hopeful, but finished a very close second in the recent Iowa straw poll. Congressman Paul, as always Sir, welcome back to the program. I want to get your take on what Governor Rick Perry said today. “Almost treacherous or treasonous” regarding Ben Bernanke. What’s your thoughts, Sir?

Ron Paul: Those are pretty strong words. But you know, the founders felt pretty strongly about counterfeiting. I wouldn’t call it treasonous but I would call what our Federal Reserve does morally equivalent to counterfeiting because they create money out of thin air and they give us our problems.

In 1792, when they had the first Coinage Act, they thought so strongly about this issue, they invoked a death penalty for people who were counterfeiters. So, they never liked this idea of counterfeiting. And they did not believe we had the right to emit bills of credit. So, I like this issue. To me, the fascinating thing is that the Governor comes into the race, he gets a lot of attention. And on the first day out, they ask him about the Federal Reserve. This hasn’t been done, maybe ever. So, I would say monetary policy…

Larry Kudlow: So, monetary policy is front and center in this presidential race, which is probably where it ought to have been. Now, you, Sir, have always been a strong opponent of devaluation and money printing. Is Governor Rick Perry onto something here?

Ron Paul: I think, politically, he’s pretty astute. He came out for secession too when he had a Tea Party candidate running against him. So, no, he’s pretty good. But I have no idea what his monetary policy issues are, what is real principles are. But I do know that the fact that he came out and didn’t say: “Hey, lay off the Fed. The Fed’s my friend.” Which means it’s a turning on this whole issue of monetary policy. And you’re right. I was motivated in the 1970s because the handwriting was written on the wall for me forty years ago. We just sort of celebrated that date forty years ago when the Bretton Woods ended. So, that was a signal to me that the dollar was doomed.

Just look now: it used to be 1/35th of an ounce of gold, now it’s almost 1/1800th of an ounce of gold. So, we have a very weak currency and, Larry, I agree with you wholeheartedly. You need a strong currency. This whole idea that a weak currency is healthy for the economy – you need a strong currency but you need to invite capital. If you’re not going to allow the press to mess up the deal with capital and pretend they can get capital out of a printing press, you got to get our capital back home. Which means you’ve got to get rid of these taxes on capital. And then I think we could thrive again. But we’re not on the verge of doing it.

But I think we’re going in the right direction because we are talking about reducing capital gains taxes and taxes on corporations. Texas has done better because we’ve never had an income tax on our corporations. They’re all for individuals and I think that’s very, very good.

Larry Kudlow: And, Congressman, let me just ask you. Another one of your opponents in the presidential sweepstakes is Governor Mitt Romney. Now, I’m not taking sides here. I just want to note, when I interviewed Governor Romney back in April, I asked him specifically about Federal Reserve policies, about QE2, and I asked him about dollar depreciation. I played the clip earlier, I’m sorry you missed it. But Mr. Romney, Governor Romney, defended Ben Bernanke. What’s your comment on that?

Ron Paul: Well, that would tell you where he’s coming from as a very establishment economic position. And, therefore, he wouldn’t be arguing the case for hard money, or sound money, or a strong currency. But that view may change, who knows. I think the country is changing. And they’re putting more emphasis on monetary policy. And eventually they’re going to come around to believing a strong currency is the most important. But I don’t know. I’ve never discussed it with Mr. Romney about his monetary policies.

Larry Kudlow: All right, Congressman Ron Paul. We appreciate you…

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94 Comments:

  1. You are Not Republicans but a old grandpa in trouble!! You are Out and just a mess!

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  2. .... Mr. Obama has done lots of things he promised, including: getting health care reform that prevents people from losing their health care if they have pre-existing conditions; repealing "don't ask don't tell" to allow Gay people to serve openly in the military; withdrawing troops from Iraq; preventing a collapse of the auto industry; preventing a recession from becoming a Depression; bank reform and credit card reform, etc. He has a bad Congress to work with, but has done things.

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  3. idk but I know that barack obama promised to create new jobs and he hasn't done anything he promised.

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  4. idk but I know that barack obama promised to create new jobs and he hasn't done anything he promised.

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  5. ... What's Ron Paul's plan to create jobs?

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  6. ... What's Ron Paul's plan to create jobs?

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  7. Key word,Ron Paul meet up groups
    Groups 683 Members 86,263 Interested 37,975 Cities 456 Countries 12

    This seems to be the only way to beat the media run campaign of the other candidates.All the other candidates simply have micro meet up groups, compared to RP,
    Let's take it to the streets, and knock back these minions of corporations,oil companies,,defense contractors,world traders !!

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  8. Key word,Ron Paul meet up groups
    Groups 683 Members 86,263 Interested 37,975 Cities 456 Countries 12

    This seems to be the only way to beat the media run campaign of the other candidates.All the other candidates simply have micro meet up groups, compared to RP,
    Let's take it to the streets, and knock back these minions of corporations,oil companies,,defense contractors,world traders !!

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  9. When our Money’s no longer tied to Gold,
    When the Printing Press runs free;
    When The Fed and the Wall Street Bankers
    Confiscate our Treasury;
    Give them just what the Doctor ordered;
    RON PAUL AND LIBERTY!

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  10. you are right never voted in my 27 years of living but im for sure voting for him

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  11. you are right never voted in my 27 years of living but im for sure voting for him

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  12. you are right never voted in my 27 years of living but im for sure voting for him

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  13. he is making a Big Wave on the Net But nobody is falling for slick talking politicians no more The young people like myself are waking up

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  14. f**k off u same like another Presidential candidates if u win u `ll froget all ur promise exzctly like wat obama did ,

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  15. Thanks to liberal policy the world economy is crashing. We must do two things to stop the meltdown NOW!!! Firstly, we need to raise all payroll taxes 10% for one year. We also need to stop (right now) wasteful handout programs like medicare, social security, unemployment,, etc. and lower the minimum wage to $2/hr so we can compete with China. I will work with Perry, Ryan and my other republican colleagues and take immediate action on these proposals. God bless the GOP!

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  16. We don't need Ken doll (Romney) or Ken doll Texas edition (Perry). We need
    Ron Paul for President 2012!

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  17. Perry? What a clown....That guy has a lot of trash in his closet.

    To me Perry will try to Imitate Ron Paul.

    Ron Paul is the Huge Cock in the ass for the banking cartel..Yes ! You Right ! The Ones that robbed over 95% of our dollar.

    So there you have it average American. Comprende now?? Do you understand? Hope so. Ron Paul 2012.

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  18. ron paul for president.

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  19. The only place Rick Perry is going is to jail & all the Federal traitors with him.

    Go Ron Paul :-)

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  20. If he gets elected, will there be assistance to the poor? Anyone knows the answer? Thank you.

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