Ron Paul

Ron Paul Speaks Out Against the Bailout

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Agreement on Bailout

Guard your wallet, negotiators in Congress have reached an agreement:

Congressional leaders and the Bush administration agreed Sunday on the main elements of a $700 billion bailout for the financial industry, paving the way for swift enactment of the largest government intervention in markets since the Great Depression.

Negotiators sought to iron out the final shape of the legislation and it still had to be reviewed by House Republicans, whose fierce opposition to a federal rescue nearly torpedoed an emerging bipartisan pact late in the week. Officials in both parties said they hoped for a House vote Monday.

You can read more about the proposal here.

From the Desk of Ron Paul: My Answer to the President

Dear Friends:

The financial meltdown the economists of the Austrian School predicted has arrived.

We are in this crisis because of an excess of artificially created credit at the hands of the Federal Reserve System. The solution being proposed? More artificial credit by the Federal Reserve. No liquidation of bad debt and malinvestment is to be allowed. By doing more of the same, we will only continue and intensify the distortions in our economy - all the capital misallocation, all the malinvestment - and prevent the market’s attempt to re-establish rational pricing of houses and other assets.

Last night the president addressed the nation about the financial crisis. There is no point in going through his remarks line by line, since I’d only be repeating what I’ve been saying over and over - not just for the past several days, but for years and even decades.

Still, at least a few observations are necessary.

Ron Paul Discusses Recent Bailouts with Beck & Blitzer

Dr. Paul and his dire warnings have been ignored and/or ridiculed for years, but the media is finally paying attention. Pulling no punches, Congressman Ron Paul lays out the truth for Glenn Beck and Wolf Blitzer- how we got to this point, and some simple, though politically incorrect, solutions. Most disturbing is the realization that the bailouts have been orchestrated without express permission from Congress, the only governing body with the Constitutional authority to allocate money. Will this financial crisis cause America to finally wake up?  Are we truly prepared for the consequences we face for being asleep at the wheel? It’s easy to point fingers at our elected leaders, who appointed the culprits responsible for this disaster; but the fault and the fall-out will ultimately be owned by the voters who put those politicians in office in the first place.

Gas Prices, Market Crash, and the Future

Recently, I was in a discussion about a good friend of mine who serves in the Alabama legislature. In the conversation, I mentioned this individual and said you can count on that person to do what is right. They are the kind of people we need in the legislature. The other person with whom I was conversing would call themselves a conservative Republican, but immediately they began to discuss legislators and members of Congress. That individuals sole criterion for quality of an elected representative is the amount of money that elected representative brings back to their home area.

For generations, politicians have held onto office by boasting of money brought back into the district. Particularly distressing is that so-called conservative Republicans go to Congress with a vengeance to fight the leviathan of big government, but are soon lured into voting for unconstitutional spending because some of that money comes back to the district. Hence, we vote our way into the treasury and buy votes to re-elect us.

Our representatives have spent our huge federal revenues, have spent deeply into the Social Security Trust Fund, and then have borrowed to the gills to finance spending. The vast majority of funds spent are not authorized by the US Constitution. The vast borrowing sprees by our Federal Government have now reached foreign banks as a great portion of our national debt is held by international investors. Shockingly, lenders in Red China hold billions and billions of loans to the US Government. Congressman Ron Paul warned that Red China could wage economic warfare simply by dumping their vast holdings in US dollars.

BJ Lawson: The ‘next Ron Paul’

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Half a Trillion Bailout… At Least

A series of bailouts by the federal government will cost American tax-payers about a half-trillion dollars according to Neil Cavuto, probably more according to Congress Ron Paul.  Dr. Paul believes that DC’s actions further compound the problem and that the best course of action by the federal government should have been no course of action.

Ron Paul Interviewed on CSPAN (part 1)

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Ron Paul Interviewed on CSPAN (part 2)

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Ron Paul Interviewed on CSPAN (part 3)

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