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Ron Paul: ...you have to develop the transition, and eventually the next step would be to prohibit the Fed from monetizing debt. This is the real evi… - Ron Paul
" "Ron Paul: ...you have to develop the transition, and eventually the next step would be to prohibit the Fed from monetizing debt. This is the real evil. The politicians spend for war, welfare, and they don't have to do it responsibly.
Question: When you say monetize the debt, you mean they would only be able to spend the cash that they had on hand. They couldn't write any cheques for which they don't have in their account any money? Ron Paul: That's right. And that is the key to it. Because when the Fed comes along, and there's starvation for capital and liquidity, and politicians are spending too much, the Fed can create 20, 30, 50 billion dollars in a day, just like they did trying to bail out this housing bubble crash. So they create money out of thin air endlessly, eventually that has to stop because that drives the value of the dollar down.
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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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Alternative Names:
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
But no, I just don't think with the scientific evidence now -- I think I read an article yesterday on the death penalty, and 68 percent of the time they make mistakes. And it’s so racist, too. I think more than half the people getting the death penalty are poor blacks. This is the one place, the one remnant of racism in our country is in the court system, enforcing the drug laws and enforcing the death penalty. I don’t even know, but I wonder how many of those, how many have been executed? Over 200, I wonder how many were minorities? You know, if you're rich, you usually don't meet the death penalty.
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