Piers Morgan: We’ll begin tonight with our big story in politics, Ron Paul has quite a steep hill to climb on super-Tuesday, he’s got 38 delegates so far, but with ten states voting next week, and 427 delegates at stake, the candidate has high hopes. And Dr. Paul joins me now. Welcome back, Dr. Paul, how are you?
Ron Paul: Thank you, Piers, it’s nice to be with you again.
Piers Morgan: How are you feeling about super-Tuesday, what is your realistic aspiration for the ten states?
Ron Paul: Well, we’re working harder in a few states like Washington and Idaho and Alaska and a couple of others. But, realistically, I don’t have a number, we’re just going to do our very best and, you know, it’s a real challenge because we don’t have bragging rights yet and we’re running against the other Republicans. But what really is encouraging is when they compare my votes against the President, we do better than the rest of them. So that’s one of the arguments the Republicans have used for a long time: “We need somebody to beat Obama”. But the fact that I do better doesn’t seem to interest them too much, which I find interesting.
Chairman: At this time, Mr. Paul is recognized for three minutes; your thorn in the flesh.
Ron Paul: Thank you, Mr. Chairman, and welcome, Chairman Bernanke. You know, I guess over the past 30 or 40 years, I have criticized the Fed on occasion, but the Congress deserves some criticism, too. The Federal Reserve is a creature of the Congress, and if we don’t know what the Fed is doing, we have the authority and we certainly have the authority to pursue a lot more oversight, which I would like to see. So although the Fed is on the receiving end, and I think rightfully so when you look at the record; I mean, the Fed has been around for 99 years, almost a few years before you took it over, and 99%, 98% of the dollar value is gone from the 1913 dollar. So that’s not really a very good record, and I think what we’re witnessing today is the end-stages of a grand experiment, a philosophic experiment on total fiat money. Yes, they’ve been debasing currencies for hundreds, if not thousands, of years, and they always end badly, they always return to market-based money, which is commodity money, gold and silver.
Ron Paul: Thank you, Mr. Chairman. Mr. Bernanke, if you don’t mind, would you tell me whether or not you do your own shopping at the grocery store?
Ben Bernanke: Yes, I do.
Ron Paul: Okay, so you’re aware of the prices. You know, nobody believes this argument about the prices going up by about 2%. The old CPI says prices are going up at 9%, they believe this. The people are really hurting, the middle class are really hurting, because their inflation rate is very much higher than the government tries to tell them, and that’s why they lose trust in government. But this whole idea about prices and the debasement of currency, if you loan me $100 and in 2 years from now I gave you $90 back, you’d be pretty upset. But we pan bad money back, and it’s worth 10% or 15% or 20% less, and nobody seems to be able to do anything about it, and it’s very upsetting. But it’s theft, if I don’t give you your $100 back if you loan me a $100, I’m stealing $10 from you. So somebody is stealing wealth, and this is very upsetting.
Madam Speaker: And being the wise legislature that he is, Dr. Paul elected to stay here, and so he gets to ask his question. Congressman Paul of Texas is recognized. I’ve learned not to say anything negative about Ron Paul.
Ron Paul: Welcome, Madam Secretary. I do want to get your comments about the stir that was caused by the apology over the Quran. And the administration has received a lot of criticism about this, and I think you’ve expressed some point that maybe this doesn’t help your job any by stirring up the resentment. But the whole issue about apology I think is an interesting one from a national level, and I recall what happened after Mac Demurer wrote his memoirs and he was apologetic about what happened and about how he orchestrated the Vietnam War. And a reporter asked him if he should apologize, and he said, “What good is an apology if the policies are wrong. You have to learn something from it and change the policy”. So a lot of emotions come out on this issue of an apology.
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Ronald Reagan and Ron Paul
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Ron Paul in the Air Force
Ron Paul is a proud Air Force veteran. He served as a flight surgeon in the U.S. Air Force from 1963 to 1965 and then in the U.S. Air National Guard from 1965 to 1968. During his military service Ron Paul spent time on the ground in Iran, Pakistan, South Korea, Turkey, Ethiopia and other countries.
Ron Paul has been married to his wife Carol Wells since 1957. They have five children: Ronald, Lori, Rand, Robert, and Joy. Paul's son Rand is the junior senator from the state of Kentucky.
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