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Ron Paul is on the floor blasting more debt, more appropriations, more spending, more credit in the market. That is what caused the problem. Ron Paul is right. There I said it.
--
Michelle Malkin, October 3, 2008

 

Ron Paul

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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 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.

 

Ron Paul

 

Paul is not an anti-capitalist... Paul opposes the separation of Church and State... Ron Paul loathes black people... he is a hate-spewing presidential candidate aligned with some of the most blatant, odious racists on the planet... In Paul's fuzzy logic, all immigrants are here to suck the country dry of its welfare, education and emergency healthcare systems. If it was up to Paul, those systems would be voided for not only undocumented, but for documented immigrants as well... he is a candidate that hates immigrants.

 

Ron Paul

 

...on most issues, I share Ron Paul's views. I believe in the Constitution, I believe in small government. Ron Paul is perfectly pro-life. Now, I disagree with Ron Paul on his foreign policy, I think it's too simplistic. But, he's a lot closer to what traditionally conservatives have believed.

 

Ron Paul

 

His opposition to what he considers unconstitutional spending even earned the grudging respect of GOP leaders. When Newt Gingrich cracked the whip on party members to support a messy budget compromise, he excused Paul from the duty to support the budget, and the "Ron Paul exemption" entered the congressional vocabulary. What did it take for other members to earn this privilege to buck the party? A voting record that opposed all unnecessary federal spending, even in their home district. No one else has been granted the exemption.

 

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.

 

Ron Paul