Ron Paul: End The Fed, Stop Inflation, Restore Sound Money

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By RonPaul.com on February 1, 2009





In a speech to the Mises Circle in Houston, Ron Paul recounts how the “biggest bubble of all history” was created, inflated, reinflated, and papered over, until it finally burst. He says that there is only a small amount of confidence left in the dollar, and describes the rapidly growing support for the movement to end the Fed. Finally, he expresses his hopes and fears for the future, and explains that building an intellectual consensus among people who can make a real difference is more effective than trying to achieve an electoral majority.

Source: Mises Institute / Mises Circle in Houston
Event: Our Enemy, Inflation
Date: 1/24/2009

Transcript:

Welcome to Houston. For those who’ve come from outside Houston, it’s good to be here. I would like to introduce my wife, my wife Carol’s with me today. She had to show up because she has played hooky a couple of times this summer and so she has to make up for that, but she’s doing well and I’m very pleased with that.

But I am very pleased to come and speak and Lew, he may have given me a topic, but he didn’t announce it, so that means I can say anything I want, right? Well you know, I do have some good news though, and the good news is this, that it is very clear that when governments and government officials act, you know, outside the law, it’s an encouragement for individuals to act outside the law. And if you’re looking for a revolution, believe me, there’s going to be a lot of activity going on. Just think about it. We could start with this little insurance, well-endowed insurance program called Social Security, run honestly and ethically and above board. But lo and behold, they complain when a guy who like Mad ol’ Madoff goes in and does the same thing, you know?

But isn’t it wonderful who’s going to be Secretary of Treasury? You don’t believe in paying taxes, so what the heck? What is going to happen these days? I mean we may truly see some exciting times ahead, but no, he believes in collecting taxes now and he’ll probably be very ruthless in collection of taxes, but obviously it does make a strong point. Continue reading “Ron Paul: End The Fed, Stop Inflation, Restore Sound Money”

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Going Back To The Gold Standard?

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By RonPaul.com on February 1, 2009





Ron Paul is interviewed about “dumping the faith-based Federal Reserve system”. He talks about the history of the gold standard and the dollar, and proposes a transition period where free-market gold currencies could openly compete against the dollar.

Channel: Fox Business
Date: 1/30/2009

Transcript:

Reporter: It’s not too long ago the dollar was as good as gold. In fact, dollar bills were labeled gold certificates, so just imagine if the dollar was as good as gold once again. If confidence is one of the failures of our financial system right now, would a gold standard restore the faith and confidence and allow us to move on? The loudest voice in favor of dumping the faith based Federal Reserve System going back to the gold standard is Congressman Ron Paul; he joins us now by phone tonight. Good to hear you Congressman, thanks for coming in, appreciate it.

Ron Paul: Thank you, good to be with you.

Reporter: So, tell us what the possibility, how would we go about going back to gold standard?

Ron Paul: Well we have some pretty good history to look at; we can look at our own history. We went off the gold standard during the civil war period, and the gold price soared, a couple hundred dollars, from twenty dollars. We lived in a different time then, in the 1970s they passed a Resumption Act and they had a three year period and a lot of part 1870s, and there was a transition. They quit printing greenbacks, they withdrew some greenbacks, they balanced the budget and we weren’t running a welfare-warfare state. And the people, believe it or not, trusted their government and it was a non-event and three years the dollar was as good as gold at twenty dollars an ounce. England, after World War I, tried to do the same thing, but they had too many pounds circulating. They went back to an old price and they didn’t withdraw any pounds so it didn’t work, and now we have a bigger problem. The transition would be pretty tough, not written and talked a lot about this and you’d have to device a system where there would be a transition where maybe you could have a gold standard competing with a paper standard and then obviously gold would win out.

Reporter: Well sure.

Ron Paul: People would eventually go to gold because the paper, we’re getting down to the bottom right now. The last thing before they really rushed to gold is the Treasury bill.

Reporter: And that’s about popped hasn’t it the dues on that?

Ron Paul: Look at what the rates have done just recently so if money quits flowing in there or what if a few foreigners decide to dump some of that stuff then the panic is uncontrollable. Then you’re going to see gold instead of being pressed twenty dollars a day, it might be a hundred dollars or two hundred dollars a day, I believe that is conceivable. Continue reading “Going Back To The Gold Standard?”

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Ron Paul Introduces Tax Free Tips Act

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By RonPaul.com on January 29, 2009





Statement of Congressman Ron Paul
United States House of Representatives

Statement on the Tax Free Tips Act

January 29, 2009

Madame Speaker, I rise to help millions of working Americans by introducing the Tax Free Tips Act. As the title suggests, this legislation makes tips exempt from federal income and payroll taxes. Tips often compose a substantial portion of the earnings of waiters, waitresses, and other service-sector employees. However, unlike regular wages, a service-sector employee usually has no guarantee of, or legal right to, a tip. Instead, the amount of a tip usually depends on how well an employee satisfies a client. Since the amount of taxes one pays increases along with the size of tip, taxing tips punishes workers for doing a superior job!

Many service-sector employers are young people trying to make money to pay for their education, or single parents struggling to provide for their children. Oftentimes, these workers work two jobs in hopes of making a better life for themselves and their families. The Tax Free Tips Act gives these hard-working Americans an immediate pay raise. People may use this pay raise to devote more resources to their children’s, or their own, education, or to save for a home, retirement, or to start their own businesses.

Helping Americans improve themselves by reducing their taxes will make our country stronger. I, therefore, hope all my colleges will join me in cosponsoring the Tax Free Tips Act.

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In Support of Consumers’ Rights

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By RonPaul.com on January 29, 2009





Statement of Congressman Ron Paul
United States House of Representatives

Statement Introducing Legislation Allowing Interstate Shipment of Unpasteurized Milk

January 29, 2009

Madame Speaker, I rise to introduce legislation that allows the shipment and distribution of unpasteurized milk and milk products for human consumption across state lines. This legislation removes an unconstitutional restraint on farmers who wish to sell or otherwise distribute, and people who wish to consume, unpasteurized milk and milk products.

My office has heard from numerous people who would like to obtain unpasteurized milk. Many of these people have done their own research and come to the conclusion that unpasteurized milk is healthier than pasteurized milk. These Americans have the right to consume these products without having the federal government second-guess their judgment about what products best promote health. If there are legitimate concerns about the safety of unpasteurized milk, those concerns should be addressed at the state and local level.

I urge my colleagues to join me in promoting consumers’ rights, the original intent of the Constitution, and federalism by cosponsoring my legislation to allow the interstate shipment of unpasteurized milk and milk products for human consumption.

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Ron Paul on C-SPAN’s Washington Journal

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By RonPaul.com on January 29, 2009





Ron Paul takes caller questions on C-SPAN, covering the financial crisis, the TARP bailout, the stimulus package, the Republican party, and his ongoing efforts to spread the idea of liberty.

Source: Washington Journal
Channel: C-SPAN
Date: 1/29/2009

Transcript:

Reporter: Former presidential candidate and physician, Representative Ron Paul, of Texas’ 14th district and member of the financial service committee, our final guest this morning. Mr. Paul, I was thinking when I was listening to some of Senator Sanders’ answers that there are many areas where your views intersect. Both of you are strong critics of NAFTA, neither of you voted for the TARP program and yet your prescriptions for how to fix the economy couldn’t be more different. What do you think will work with what ails United States right now?

Ron Paul: Nothing’s going to work unless you understand how we got into the problem. A lot of people object to me saying that because they [don't] want to do what we have to do right now. But as a physician I was always taught that you have to know what caused the disease to know how to give the treatment. And if you look at that you’ll find out that it was too much government from my viewpoint, too much spending, too much debt, too much inflation by the Federal Reserve, too much interference in the marketplace, too much price fixing of interest rates, too much propping up of certain industries like housing, and then you get a bubble. You have to understand how a bubble is formed and then you can expect, you know, the collapse of a bubble, which we as Austrian economists have predicted would happen, and it did. So therefore what you want to do is if you know if there’s a lot of pain and suffering and malinvestment and excessive debt, the treatment is you got to get rid of it. That means you have to liquidate the debt and remove all the mistakes, the malinvestment, which politically it means, take more of a hands-off position. And that, of course, nobody can do that. Politicians are trained to do stuff. But government can do things to improve things. They could lower spending, they could lower taxes, they could deregulate, they could regulate the Federal Reserve which we don’t, we could regulate the treasury when they are given $350 billion to spend. So the regulation is directed in a different manner but we’re doing exactly the opposite. We are doing more like we did in the Depression. The Federal Reserve and excessive government caused the boom of the 20s and the depression of the 30s by not allowing the correction, not allowing the treatment. The treatment is the liquidation. There is some pain with that but the pain is a result of the mistakes made previously. The question is only now do you have short-term pain that lasts for a years, or do you keep propping the bad system up and allow this pain and agony to grow and lengthen. And that’s what we’re doing and that’s why we’re in great danger now of taking a very very serious recession and turning it into a depression.

Reporter: What we are seeing in the very short period of time, the second half of the TARP, the second tranche $350 billion. The Senate price tag on the stimulus package $880 billion and news that the treasury secretary is likely to announce a large package which may include the creation of something called a bad bank. What do you see as the outcome of these measures? Where are we going with this? Continue reading “Ron Paul on C-SPAN’s Washington Journal”

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Ron Paul Debates MSNBC’s Panel of Experts

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By RonPaul.com on January 28, 2009





In a seemingly unbridgeable clash of two widely divergent world views, Ron Paul talks with three experts on MSNBC’s Morning Joe, repeating his assertion that we’re on the wrong path and that printing more money will eventually destroy the dollar.

Source: Morning Joe
Channel: MSNBC
Date: 1/27/2009

Transcript:

Host: Educate please this “panel of experts” here. And I say that with quotes around it. About, why this sort of throwing money at the issue bailing, bailing, bailing out, may be potentially reckless and damaging for the future of this nation’s economy.

Ron Paul: Well, in order to understand that, you have to understand how we got into this mess. We got into this mess by spending too much, borrowing too much and inflating too much. Government was too big and we had too many regulations. We had rejected the market economy for decades now. We had rejected the notion of sound money for decades. And we got into a mess this way. So what is the proposal? Spend more money, borrow more money, print more money, regulate more so. So, it makes no sense whatsoever. So we’re going to make the problems much worse. We’re doing exactly what we did in the 1930s. We are determined to take a serious recession and turn it into a depression if we don’t change our ways. When governments spend money, they spend it in a non-productive manner. And every penny the government spends, they have to take it out of a productive source of money. The money has to come from somewhere. Everybody talks about the money that’s going to be spent, and about how many wonderful things will happen, but they never say, where does that $825 billion dollars come from? That’s the question they have to ask and they have to find an answer to that to fully understand why what we’re doing is absolutely wrong.

Expert #1: Alright. Alright

Host: OK. OK.

Expert #1: Congressman, let me ask you. I understand where you’re coming from here, I think, sort of. You know, but the house is already on fire and I think no matter who…

Host: Yeah, I mean look at these headlines.

Expert #1: No matter how the fire begins. The house is on fire. The house is on fire. So let’s take one industry specifically. Let’s take the automotive industry in this country. Are you saying, spend no money on the automobile industry in this country that American automobile manufacturing, let it disappear? Continue reading “Ron Paul Debates MSNBC’s Panel of Experts”

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Did Bin Laden Bring America To Its Knees?

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By RonPaul.com on January 28, 2009





We are handling our economy exactly as terrorist mastermind Osama Bin Laden wanted us to. His plan was to bog us down overseas, bankrupt our country and diminish our morale, says Ron Paul. The Congressman suggests the following solution:

  1. Change our foreign policy so that we can bring our troops home
  2. Get back to where the budget is in order
  3. Abolish the income tax and lower taxes dramatically
  4. Abolish the Federal Reserve

Source: CNN Money
Date: 1/27/2009

Transcript:

Poppy Harlow: A former presidential candidate and a Republican congressman from Texas, Ron Paul, has some serious opinions about the economy and just how it should be handled. He even says we’re doing just what Osama Bin Laden wanted us to do. Let’s bring him in to talk about that. Congressman, thanks for being here, I appreciate it. Well right, let’s just address that off the bat. We are handling our economy like Osama Bin Laden would like us to?

Ron Paul: Yes, he actually said it that he would like to drag us into a war in the Middle East. That he was pleasantly surprised that we did as much as we did after 9/11, because his plan is to bog us down and bankrupt our country and diminish our morale and he’s doing exactly the same thing because we were his ally when he used the same strategy against the Soviets. So, this is not strange, we should easily understand it, and he’s doing a very good job. We are bankrupt and he is participating in it and laughing at us.

Poppy Harlow: You know what, whether you are in favor or not in favor of big government, one thing is certain, this country is bleeding jobs. On Monday, more than 70,000 job cuts announced, more than 200,000 job cuts announced so far this year alone in just the past couple of weeks, and pretty much everyone would argue you’ve got to spend to create jobs, so, there really is a divide there. Are you proposing that we not spend in order to create jobs? Continue reading “Did Bin Laden Bring America To Its Knees?”

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Ron Paul: Crisis not caused by Free Markets

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By RonPaul.com on January 27, 2009





Ron Paul is interviewed on CNN American Morning and explains that “The best regulation is through the free market and to blame the free market for this calamity is an [...] intellectual error that has to be changed.”

Source: CNN American Morning
Date: 1/27/2009

Transcript:

Kirin Chetry: Timothy Geithner has his work cut out for him, certainly more than 70,000 job cuts yesterday alone. Today we’re already talking about companies like Corning announcing layoffs. So what can the president do about the deepening recession? Joining me now from Washington is Republican Congressman and former presidential candidate Ron Paul. Good morning Congressman, great to talk to you this morning. You know, some Libertarians called the first financial bailout the “PATRIOT Act of Finance”. Now we’re looking at a stimulus package that is going to be even bigger by all accounts. And a lot of economists seem to say that a massive spending package is needed to get the economy moving again. You’re against it, explain.

Ron Paul: Well, it’s because it’s the government that is spending. If the people were spending it that would be fine. But the government, they, the government never does anything productive. They have to take money from productive individuals and spend it in a non-productive way, so it’s just digging a bigger hole and a bigger debt and that is our problem. This stimulus package is going to cost each and every American $6,700 of more debt, so how can that be beneficial? If debt was the answer, we would have never had our problem because we’ve been doing, you know, a lot of deficit financing in the past eight years and it got us into the trouble. So all this plan of more government stimulus and more inflation, it’s absolutely the wrong way to go. We’re doing exactly what we did in the 1930s. So we are taking a recession and working very hard at trying to turn it into a depression.

Kirin Chetry: When we’re talking about 7.2% unemployment on the national average, 10% in some states that have been hit hard especially in the manufacturing sector, what is the answer then for so many people who are out of work? Continue reading “Ron Paul: Crisis not caused by Free Markets”

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Ron Paul: Afghanistan Will Be Obama’s War

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By RonPaul.com on January 26, 2009




Source: Campaign for Liberty
Date: 1/25/2009

Transcript:

Thanks for joining us. In the last couple days, the most frequently asked question to me has been, what do I think about Obama and his foreign policy? Is there reason to be optimistic that we’ll have positive changes around the world and especially in the Middle East?

He has spoken out clearly in the campaign what his policy would be in Iraq: he wants to bring the troops home and he wants to get them out of there in 16 months. And he may draw down on those troops, but quite frankly I don’t believe for a minute that he will ever take down and remove that very offensive embassy in Iraq, nor close the military bases. So overall I don’t think the policies would change. I think if the violence escalates, which is a very significant possibility, he would be sending troops in if he had to. Americans are still being killed in Iraq and there’s still a long way to go before there’s real peace in Iraq because the Sunnis are well-armed and they are not happy by being pushed out by the Shiites, so time will tell us about that.

But Obama was very explicit about his foreign policy in Afghanistan. He said we should escalate in Afghanistan; we should have more troops in Afghanistan. And that’s where the battle is, that’s where the battle with the Al-Qaeda is, is in Afghanistan. But when he talks about Afghanistan, he talks about Pakistan as well and it’s very weak. The American missiles sent off by our CIA with drones, ended up killing 22 civilians. So they said there were possibly a few Al-Qaeda suspects there, but some women and children were killed as well.

And believe me, that doesn’t go well on his diplomatic mission to work better with those individuals and our enemies in the Middle East. A matter of fact, that’s the incentive for the Al-Qaeda to develop and grow. And as long as we have that policy over there, we can expect things to get much worse. Just the same, just as well, right now Karzai was very unhappy with the Americans today, and American missiles had killed some Afghans, and he is just holding on by his strings, you know, to the presidency of Afghanistan. And that is likely to come to an end.

So really and truly, policies have not changed there, it’s exactly the same. Escalation of war, Afghanistan will be Obama’s war. But I wish I could say that well, let’s look forward, the attitude has changed, we’re gonna be out of Iraq and we’re gonna wind down in Afghanistan, but we’re in there and we are determined to have a long term presence in the Middle East. There’s a lot of things that drives that policy and we all know about it.

The number one probably is oil, that has a lot to do with it. The neocon philosophy has a lot to do with it, Israel has a lot to do with it, as well as this idea that we have to be over there for our national security reason to fight the Al-Qaeda, but quite frankly, I am convinced, and so many other Americans are, that the reason we have to worry about the Al-Qaeda is because we’re over there. The more we’re over there and the more Muslims we kill, the greater the incentive there will be for Al-Qaeda to try to come and kill us.

We need a significant change in foreign policy. We don’t need more of the same. We need less influence of the neocons. We don’t need a perpetuation of the foreign policy of the neoconservatives, and that policy of course is, a non-interventionist, pro-American, pro-Constitution foreign policy which means we ought to mind our own business, come home and take care of our own business here at home. And besides, financially, that’s what we must do, soon.

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