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Question: ...you believe the Fed shouldn't exist... make the case. Ron Paul: First reason is, it's not authorized in the Constitution, it's an illega… - Ron Paul
" "Question: ...you believe the Fed shouldn't exist... make the case.
Ron Paul: First reason is, it's not authorized in the Constitution, it's an illegal institution. The second reason, it's an immoral institution, because we have delivered to a secretive body the privilege of creating money out of thin air; if you or I did it, we'd be called counterfeiters, so why have we legalized counterfeiting? But the economic reasons are overwhelming: the Federal Reserve is the creature that destroys value. This station talks about free market capitalism, and you can't have free market capitalism if you have a secret bank creating money and credit out of thin air. They become the central planners, they decide what interest rates should be, what the supply of money should be...
Question: How does the gold standard solves that?
Ron Paul: It maintains a stable currency and a stable value. If the Fed concentrated more on stable money rather than stable prices... They push up new money in stocks and in commodities and in houses, and then they have to come in to rescue the situation. They create the bubbles, then they come in and rescue it, and they do nothing more than try to do price fixing. Capitalism depends, and capital comes from savings, but there's no savings in this country, so this is all artificial. It creates the misdirection and the malinvestment and all the excessive debt, and it always has to have a correction. Since the Fed has been in existence, the dollar has lost about 97% of its value. You're supposed to encourage savings, but if something loses its value, why save dollars? There's no encouragement whatsoever. [...] Gold is 6000 years old, and it still maintains its purchasing power. Oil prices really are very stable in terms of Gold. [...] Both conservatives and liberals want to enhance big government, and this is a seductive way to tax the middle class.
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About Ron Paul
Ronald Ernest "Ron" Paul (born 20 August 1935) is an American author, activist, physician, and retired politician who served as the U.S. representative for Texas's 22nd congressional district from 1976 to 1977 and again from 1979 to 1985, and then for Texas's 14th congressional district from 1997 to 2013. On three occasions, he sought the presidency of the United States: as the Libertarian Party nominee in 1988 and as a candidate for the Republican Party in 2008 and 2012. A self-described constitutionalist, Paul is a critic of the federal government's fiscal policies, especially the existence of the Federal Reserve and the tax policy, as well as the military–industrial complex, the war on drugs, and the war on terror. He has also been a vocal critic of mass surveillance policies such as the USA PATRIOT Act and the NSA surveillance programs. In 1976, Paul formed the Foundation for Rational Economics and Education (FREE), and in 1985 was named the first chairman of the conservative PAC Citizens for a Sound Economy, both free-market groups focused on limited government. He is the father of Senator Rand Paul.
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Ronald Ernest "Ron" Paul
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Ronald Ernest Paul
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Ronald Paul
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Additional quotes by Ron Paul
America was founded by men who understood that the threat of domestic tyranny is as great as any threat from abroad. If we want to be worthy of their legacy, we must resist the rush toward ever-increasing state control of our society. Otherwise, our own government will become a greater threat to our freedoms than any foreign terrorist.
I think stem cell research is crucial. I think medically it has a great future. I think that the answers aren't in yet. Some people say it's absolutely the answer, and others say it's no good and don't do it. It's not known yet, and I'll tell you what: politicians and bureaucrats and the FDA don't know either, and I don't think that's where it should be determined. It should be determined in the marketplace. In Washington so far we only had two choices, either prohibit it or subsidize it. My position is that we shouldn't do either. It should be in the states to devise the rules and laws on what you can do and can't do. Though I'm very strong pro-life and the worst thing I can conceive of is manufacturing babies to be used for research, but as an obstetrician I've had on quite a few occasions to do a surgery on a woman with a pregnancy in the Fallopian tube. And, the fetus is small, and alive, and the heart is beating, but if you don't operate on him, the fetus dies and the patient dies, because a hemorrhage is a very very critical time for ectopic pregnancy. I don't see any reason why you can't use that fetal tissue for research.
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We've lost the south, that was one of the biggest fallacies. We went in there and we served the interests of one of our enemies over there, the Iranians. We propped up the Shiites, we overthrew the Sunnis, and the British didn't hold, they left. So there's more peace and less killing in southern Iraq, because all of a sudden we've allowed local control to develop more naturally. Warlords and local people are in charge, and they're more allied with Iran. But this is not a catastrophe, that's why we should deal with the Iranians in a more respectful way: if they had more control of the oil they'd want to sell, what they're gonna do with it, drink it? That's why the balance of power and the idea of self-determination should be worked out by them, not by us. As long as we do it, there'd be resentment and that is the source of the hatred towards us.
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