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Author Topic: Ron Paul: Washington’s True Maverick Talks Bailouts...  (Read 1876 times)
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WhiskeyGirl
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« on: October 15, 2008, 09:07:04 AM »

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Ron Paul: Washington’s True Maverick Talks Bailouts, the United States Constitution and Re-Making the US Dollar

By Allison Kugel, Senior Editor - October 15, 2008

Often called the most honest man in Washington, Ron Paul, the unsinkable Congressman from Texas’s fourteenth district, has positioned himself as resident watchdog for the United States Constitution. Ron Paul holds a point of view that, although echoing the wording of our nation’s founding fathers, rings downright alien to the United States government of today.

We are now living in a nation where Federal social and economic programs are our government, where our currency status hinges on the stock market rather than the gold standard and where our current President has taken more liberties with the United States constitution than any other President in our country’s history. Under these circumstances, Ron Paul just doesn’t seem to fit in. Reason being: we’ve grown accustomed to, and quite comfortable with, large Federal government and the act of re-shaping laws for convenience.

Ron Paul is a conservative, but hardly a Republican – not according to the cookie cutter Ronald Reagan playbook, anyway. He fancies himself a Libertarian and a Constitutionalist, yet in 2007, Paul ran for President under the guise of the Republican Party, a move that seemed out of character, but one that brought his agenda to the mainstream media and sealed his status as a cult hero to an overwhelming number of staunch Ron Paul supporters.

(snip)

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PR.com (Allison Kugel): What does this bailout mean for the economy, tax payers, and for the future of the U.S. Dollar?

Ron Paul: Well, for the economy it’s bad news, but this has been building for a long time and this is something that many of us had predicted would come, and now we are seeing it. It’s going to be very bad for the tax payer because taxes won’t go down. They’ll try to raise taxes but they won’t be able to so they will just use the tool of the deficit financing and inflation; that is creation of new money and credit which they are doing in wholesale right now. Which is easily translated into a weaker dollar, although that might not occur immediately and sometimes when the Fed comes up with a new program of injecting tens if not hundreds of billions of dollars into the economy this should send a signal to everybody that its going to be devastating to the dollar. Inflation will become much worse, but you might see a temporary reaction where they say “Oh this might strengthen the market and maybe the economy will heal and the dollar will be stronger.” I think everything we are doing now is very, very detrimental to the dollar which doesn’t mean to me that an alternative currency is immediately the answer. The Europeans and the Japanese all have their problems, and they’re all Fiat currencies, too (currency that is not backed by gold, but where the value is instead enforced by the government). So, just because the dollar is week doesn’t mean that it will be weak in terms of all the other currencies immediately. I think it will be weak in terms of purchasing power. That means prices will go up, I believe, in all currencies, and eventually translate into much higher gold prices.

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PR.com: Barack Obama compared this financial crisis to a house on fire, and that the fire needs to be put out before we can address the problem and the guilty parties involved. Do you think the bailout package effectively puts out the fire?

Ron Paul: No. It’s pouring kerosene on the fire because the problem was created by government meddling, government regulations, government dictating, government inflation, government spending… and that’s all we’re doing. We’re spending more, running up more deficits, printing more money and trying to regulate away the bad effects of all these policies. So, yes it would be good to put out the fire, but you’ve got to know where the fire is coming from and what caused it all. But, what they’re doing is not putting out the fire. They’re just making it worse.

I agree with Ron Paul.  What happened to sound economic principles?

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PR.com: In your book (The Revolution) you mentioned the concept of “legal plunder” and it just seems to apply so perfectly right now. You define legal plunder as “any use of government that enriched one group of people at the expense of another, and which would be illegal if private individuals tried to carry it out themselves.” Do you define this bailout package as legal plunder?

Ron Paul: Oh absolutely, but that’s been around for a long time. I wish I could claim [to be] the originator of that concept. But, that’s something that’s been talked about for years. Bastiat talked about it in the 1850s and he was a Frenchmen worried about the same thing back then. Yes, it is legalized plunder if you and I can’t do it. You can’t steal from your neighbor. We would still go to jail for that. But, if we send the politician to your neighbor with IRS Agents and a bunch of guns they would pretend this was moral, ethical and constitutional, and it’s none of those. So, we’re involved in that, but that’s how we got here because of this assumption that the government has the right to redistribute wealth and regulate and serve special interests. And now they’re doing it wholesale, they’re doing it to try to bail out the people who had benefited for so many years by this system. Now they’re in trouble, and now they want to really get bailed out and dump out all the bad debts on the innocent people. Those many who benefited over the years on Wall Street and in these financial areas now want the average person to buy up all this bad debt. So, we could start off, and I said this on the House floor, it’s an immoral act, it’s an unconstitutional act that makes no economic sense either.


I think it's also those that profited by taking out risky loans, and the taxpayers are going to be ripped off a second time, when the debt these people have taken out is reduced or written off - they get something for nothing.  No common sense (I suffer from this at times to.)

IMHO - Ron Paul makes sense.  Need to stop spending money - no way to pay it back.

read more here -
http://www.pr.com/article/1110
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WhiskeyGirl
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« Reply #1 on: October 15, 2008, 09:11:11 AM »

from the same article -

PR.com: How can we regulate our currency again?

Ron Paul: The market should regulate the currency. The only thing the government should do is make sure there is honesty. If you say you have a currency that is backed by gold and convertible to gold, the government is supposed to guarantee the contract and guarantee the value of the currency. That is a role given to the government by the constitution, but they did exactly the opposite. They destroyed the value of the currency, and they became the counterfeiter. So, Congress’s role is to make sure that we have honest weights and measures, and that if we do have gold and silver coins that we know what those weights are. And if people create instruments that are related to that paper instruments credit that they are held responsible for the contracts that they make. Today our government spends more time breaking contracts than maintaining contracts.

===============

It boils down to honesty.  Treat your neighbor as you would want to be treated.  Don't encourage your neighbor to take out a loan he cannot afford. 

imho - global carpet baggers do not care about me or my neighbor.  Does the government and elected officials?

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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
WhiskeyGirl
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« Reply #2 on: October 15, 2008, 09:17:45 AM »

PR.com: Do you think that either Barack Obama or John McCain has what it takes to get us back into the black, financially?

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Ron Paul: I don’t think they even have a desire to do that, because people now don’t think you should ever balance your budget in times like this. They don’t even pretend to do that. Republicans are sort of like, what Dick Cheney said not too many years ago. He said, “Well, we don’t have to worry about deficits. Ronald Reagan taught us to live with a deficit.” Conservative supply-siders think the deficits don’t matter all that much and liberals never care. So, no, neither one of them has a desire to, nor would they know how to do it, because they both endorse this empire we are operating around the world. It’s the empire that’s bringing us to our knees and if we don’t address that there’s no way we can solve our problems.

Spending money and deficits are a characteristic of the Reagan era.  Anyone worrying about how future generations will pay for all these public works?  The deficit?

Who will bring us to our knees first?  Obama or McCain?

Who will start the country back on the road to recovery?  How long will it take for this person to step forward?  Four years?  Eight years?

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All my posts are just my humble opinions.  Please take with a grain of salt.  Smile

It doesn't do any good to hate anyone,
they'll end up in your family anyway...
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