Ron Paul, Peter Schiff, Glenn Beck on Freedom Watch

This Wednesday, Ron Paul joined Peter Schiff, Glenn Beck, Lew Rockwell, Shepard Smith, and David Boaz on Judge Andrew Napolitano’s online show “Freedom Watch” in a refreshing discussion about the latest economic and political developments.

Part 1:
Part 2:
Part 3:
Part 4:
Part 5:
Part 6:
(Ron Paul appears in Part 6)

Channel: Fox News Strategy Room (online only)
Show: Freedom Watch
Host: Judge Andrew Napolitano
Date: 3/25/2009

Transcript of Ron Paul’s appearance:

Judge Napolitano: Congressman Ron Paul, Republican from Texas, the greatest defender of the Constitution in the Congress today joins us. Congressman Paul with our good friend Peter Schiff, welcome back to Freedom Watch.

Ron Paul: Thank you. It’s good to be with you again.

Judge Napolitano: Were you as scandalized as I and Peter and many of our colleagues when Secretary Geithner yesterday before the House Financial Services Committee was unable to tell Congresswoman Bachmann where in the Constitution the Treasury Department looks for authority to justify the things it’s been doing lately?

Ron Paul: Well, probably not as much as you have because I’ve heard it so many times because over the years I’ve asked those questions.

But quite frankly, I thought he’d come up with a little bit better answer because sometimes he’ll say, “Oh, it’s on the area where it tells the Congress that they have the right to issue coinage.”

You know, they’ll come up with all these crazy ideas. But he came up with nothing, so that was …

Judge Napolitano: He didn’t mention the Necessary and Proper Clause.

Ron Paul: Yeah, nothing.

Judge Napolitano: Or the Interstate Commerce Clause. It is as if he took an oath to uphold, protect, and defend a document that he has never read.

Ron Paul: Or what Congress says it means if the Congress says that means it’s the Constitution or whether the President says so, that means it’s the Constitution.

They have very little respect or understanding about what the Constitution is all about.

Judge Napolitano: Mrs. Pelosi apparently indicated this morning, according to your colleague John Shaddeg from Arizona on my radio show, “Brian and the Judge,” that she is of the belief that the powers that the Secretary of the Treasury asked for yesterday and the President again asked for last night, which would let Treasury examine the books and wind down any corporation, whether it’s the recipient of federal largesse, whether it’s publicly traded, whether it’s privately held, an S-corporation, any corporation in the country that they think might be in trouble and could cause systemic problems, and that legislation is so important that there will be no committee hearing about it in the House and just an hour debate about it in the House floor. Are we seeing mob justice in the House of Representatives?

Ron Paul: Well, you know, we’ve been moving in that direction and they would call it very necessary and proper to do this and they’ve been moving this way for so long that to them it doesn’t mean very much to do this. I mean they’re socializing the country and, you know, like Rahm Emanuel said, “Don’t let one of these emergencies go to waste,” and it looks like they’re making good use of it from their viewpoint.

But what they’re trying to do in this bailout and patching together a new world currencies, none of it is going to work. We’re going to have chaos and the more of the economic chaos we have, the greater the threat to our liberties we’ll have, and to me that’s the answer.

You know, we protect liberties. Even if we’re a very, very poor nation for a little while, if we have freedom and sound money, I think we’d get back to work so quickly and recover, but that’s not what they’re interested in.

But hopefully the American people will wake up.

Judge Napolitano: I was telling Peter Schiff that my comments here on Fox and elsewhere about fidelity to the Constitution, which used to be met with skepticism or this is just a scholar’s academic interest are now being met with significant numbers of emails of people who are saying, “Finally this makes sense. I finally understand it.”

But in my view, the Bush administration utterly trashed the Constitution in the name of security. Utterly ran rampant over our fundamental civil liberties and the Obama administration is trashing the Constitution and running rampant over our free market liberties in the name of security.

Ron Paul: Yeah, economic security.

Judge Napolitano: Any way to stop this?

Ron Paul: Not until enough people are so outraged that they demand that they stop, or it will end when there’s a calamity because economic laws are very powerful. We didn’t have to fight the Soviets and there was no military takeover of their government, but the old Soviet system collapsed because they couldn’t finance it.

So there may be some good things on the horizon because we cannot continue to finance this. We will have to give up on our world empire and we’re going to have to give up on this wild spending because it will destroy the dollar and we should prepare for and teach as many people to understand this is possible and understand why freedom works and that we don’t have to sacrifice any of the good American principles and that we can find so many of our answers in the Constitution. They’re sitting here waiting to be used.

Peter Schiff: Are you going to have an opportunity to question Ben Bernanke again soon?

Ron Paul: No, but I think Geithner is supposed to be before Financial Services tomorrow.

Peter Schiff: Because you have got to remember to try to keep your questions very short and pointed so you can have a chance to rebut them when they ignore what you’re going to ask.

Ron Paul: Well, there’s two arguments on that and I get a lot of criticisms for not doing that, but over the years I have found when I do that, asked a short question and expect an answer, it’s very hard to keep them short sometimes. He gets more time than I do and I get a total of five minutes and that’s it. It’s a judgment call and I just think that when they get four of my five or three minutes out of my five, that doesn’t work very well.

Judge Napolitano: Will you make the argument not that the Treasury Secretary shouldn’t have the power to bust up any corporation that he wants, but the Congress doesn’t have the moral or the Constitutional ability to give them that power because they don’t have it to give away.

Ron Paul: You know, in Congress, casual conversation today on the House floor with other members, they were agreeing with me a hundred percent with that.

Why are we doing this? And they weren’t just Republicans, there were some Democrats and they say, “we shouldn’t be doing this.” And I do have some Democrats on my bill to have transparency of the Feds, audit the Fed.

So I think our sentiments are growing, but not in leadership yet. But I think the people outside of this city are waking up and eventually if there’s enough Americans awake and sending messages here, the American Congress will wake up as well.

Judge Napolitano: Congressman Paul, thanks very much. We will see you next Wednesday on Freedom Watch and I’ll see you Friday night in St. Louis. Thanks for your time.

Ron Paul: Wonderful. Thank you.