Ron Paul on Understanding Power: the Federal Reserve, Finance, Money, and the Economy

1988 – More Ron Paul:

Paul believes the size of the federal government must be decreased substantially. In order to restrict the federal government to what he believes are its Constitutionally authorized functions, he regularly votes against almost all proposals for new government spending, initiatives, or taxes, in many cases making him in a minority of members of the house by doing so. For example, on January 22, 2007, Paul was the lone member out of 415 voting to oppose a House measure to create a National Archives exhibit on slavery and Reconstruction, seeing this as an unauthorized use of taxpayer money.

Paul advocates substantially reducing the government’s role in individual lives and in the functions of foreign and domestic states; he says Republicans have lost their commitment to limited government and have become the party of big government. His 2012 “Plan to Restore America” would eliminate five Cabinet-level departments: Energy, HUD, Commerce, Interior, and Education. He has called for elimination of other federal agencies such as the U.S. Department of Health and Human Services, and the Internal Revenue Service, calling them “unnecessary bureaucracies”. Paul would severely reduce the role of the Central Intelligence Agency; reducing its functions to intelligence-gathering. He would eliminate operations like overthrowing foreign governments and assassinations. He says this activity is kept secret even from Congress and “leads to trouble”. He also commented, “We have every right in the world to know something about intelligence gathering, but we have to have intelligent people interpreting this information.”

Paul calls for the elimination of the Federal Emergency Management Agency (FEMA), which is tasked with coordinating preparedness and relief for natural disasters. He regards the argument for FEMA as “symptomatic of a blind belief in big government’s ability to do anything and everything for anyone and everyone…. When people are starving, injured and dying they need speed and efficiency, yet FEMA comes along with forms and policies and rubber stamps.” He complains that FEMA is a mismanaged and nearly-bankrupt bureaucracy, open to corruption. He also argues that the socialized insurance concept which underlies FEMA is deeply flawed, encouraging risk-taking — such as building beachfront homes in hurricane-prone coastal areas — that would be too expensive to consider if the sole source of disaster insurance were private-sector insurance purchased in the free market. In his view, disaster response management should be coordinated at the state and local level, without any federal involvement, and should be entirely voluntary and based on charitable goodwill. As Hurricane Irene bore down on the country’s coast in August 2011, Paul said, “I live on the Gulf Coast. We put up with hurricanes all the time…. In 1900, before FEMA, the local people rebuilt the city, built a seawall, and they survived without FEMA….”

In a speech on June 25, 2003, criticizing giving Prime Minister of the United Kingdom Tony Blair a Congressional Gold Medal of Honor, Paul said, “These medals generally have been proposed to recognize a life of service and leadership, and not for political reasons—as evidenced by the overwhelming bipartisan support for awarding President Reagan, a Republican, a gold medal. These awards normally go to deserving individuals, which is why I have many times offered to contribute $100 of my own money, to be matched by other members, to finance these medals.” Texas Monthly awarded him the “Bum Steer” award for voting against a congressional honor for cartoonist Charles Schulz, but also noted, “When he was criticized for voting against the [Parks] medal, he chided his colleagues by challenging them to personally contribute $100 to mint the medal. No one did. At the time, Paul observed, ‘It’s easier to be generous with other people’s money.'” In February 2009, he joined with Democratic congressman Harry Mitchell of Arizona to call for an end to automatic Congressional pay increases, through a proposed amendment to the economic stimulus package.


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32 Replies to “Ron Paul on Understanding Power: the Federal Reserve, Finance, Money, and the Economy”

  1. If every American had watched this footage leading up to Ron Paul's 2016 run for president, he would have won by a landslide. HOWEVER, don't be fooled, between the corrupt congress and the wealthy internationalists, I don't think a president of Ron Paul's vision would get very far….they'd just have him take a nice cruise through Dallas to set things right.

  2. I love Ron Paul and think he is one of the smartest politicians out there, but saying this bubble will pop for almost 30 years means he does not have a full grasp on the powerful and self correcting nature of the system. I do believe it will all fall down, but not without outside forces such as natural disasters and global influence.

  3. First I have to mention that:  The president is the punching bag for monetary policy even though he did not directly affect monetary policy.  The Federal Reserve is rarely mentioned on television as being the mastermind of the economy but nevertheless it is the second punching bag. That is to say another institution we can vent our anger when things go economically wrong. The real Culprits are the hidden owners of certain insider private commercial banks who have control of the Federal Reserve and the presidency. 

    The FEDERAL RESERVE was not created so that it profits.  RATHER it was created so that a select few private insider commercial banks become extremely profitable as the result of their ties to the FEDERAL RESERVE, and its ability to subsidize FRACTIONAL RESERVE LENDING.  These commercial banks control the Federal Reserve and its policies.  The FED, for example, carry out policies that causes little banks to fail.  These failed banks are taken over by the big insider banks furthering the consolidation of the nation's monetary reserve. 

    The manner in which banks create money ex niholo (out of thin air) is by the use of a scheme called fractional reserve lending.  When you rent a DVD movie, you are explicitly told not to copy and distribute the movie.  Why is that illegal?  Because if you copy and distribute the movie, the movie creators would loose profit as a result of the EFFECT of the counterfeiting. A long time ago it was decided that a deposit to a bank is legally a loan to the bank. Since case law (though English, but USA courts have followed almost similarly) established in 1811 (Carr vs Carr, in case you were wondering) that the money you put in your bank account no longer legally belongs to you – instead, you are lending it to the bank, which in turn is paying interest on the loan. Money is a fungible item, and it is not treated as a bailment when you deposit your money in the bank.

    This means that if you have $100k and deposit it in a bank, the bank can loan the $100k to someone else.  What happens, though, is that the person that borrows the money soon uses it to buy something, a house, perhaps and the seller of the house takes that money and most likely deposits it in a bank, perhaps the same bank or a different bank.  What happens is that the bank that just received that $100k will loan that money out again, and the inflationary cycle continues.  The Money supply expands.  In this situation there are two conflicting titles to the money 1)the person that deposits it and 2) the person that borrows it.  This is precisely why the FEDERAL RESERVE was created, so that this conflict can be reduced to a government/public subsidy. Further problem is that as the money supply expands, but only the principle exist in the money supply.  In order for every borrower to pay back the debt, they need to depend on more credit to provide the interest payments. If the credit stops the economy goes into a recession-depression, and the money supply shrinks. This is officially called the BUSINESS CYCLE. The money supply created by private banks is over 95% of the money in the economy.  Just take the M0 money supply and subtract from the M2 or M3. 

    NOW there are two conflicting ideas about where income tax revenues goes.  The most elaborate, indepth research is the Grace Commission Report:
    "100% of what is collected is absorbed solely by interest on the Federal Debt … all individual income tax revenues are gone before one nickel is spent on the services taxpayers expect from government."
    -Grace Commission report submitted to President Ronald Reagan – January 15, 1984

    Then, there are reports from the government that show a pie chart of what the income tax revenues is used for:  38% goes to HUMAN RESOURCES;  30% goes to CURRENT MILITARY,  18% goes to PAST MILITARY;  8% goes to GENERAL GOVERNMENT;  and 6% goes to PHYSICAL RESOURCES.

    I really honestly do not know which is true, but what i do know is that the NATIONAL DEBT is fraudulent, because the treasury makes bonds which are purchased by private commercial banks using money from the selling of old bonds, and the multiplicity effect of  the fractional reserve scheme. This scheme is inflationary on both ends, the expansion of credit and the introduction of new money into the system.  If you are going to have an inflationary system why not for the public good, for public programs?

  4. “I hope we shall crush in its birth the aristocracy of our monied corporations which dare already to challenge our government to a trial by strength, and bid defiance to the laws of our country.”
    – Thomas Jefferson 

  5. Prophesy is fulfilled:

    Psalm 118:22
    The stone which the builders refused is become the head stone of the corner.

  6. Find the answer in the short film “Mankinder (Occupying Chairlifts)”! A guy working in the white house calls on an underachieving old college buddy, to solve the economy from it’s debt and unemployment troubles. A couple brief conversations with the reluctant skibum corrects the course of humanity’s future. A simple rule tweak on inheritance ends up changing the direction and purpose of modern human life! Watch “Mankinder (Occupying Chairlifts)” on youtube

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    The history demonstrates the respect.
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  10. Anti-Whites say there should be no White Countries✓
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  11. That is the plan of cultural Marxism. Flood white countries with 3rd world immigrants to cause collapse. Plan B after the Soviet Union collapsed.

  12. The Money Masters – the Rothschild mafia controls the Fed and the national Central Banks
    Check out this info video on YouTube. It will clarify a lot!!

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  14. Dr. Paul makes the Federal Reserve to sound just like the Illuminati. This video should raise questions in everybody's head.

  15. They won't win in the endgame. They may succeed in taking over the world for a short time, but they will not be able to control the masses and if a major disaster strikes such as a super volcano or emp wave from the sun, all of their fancy gadgets will be knocked out. They may have some saved away underground, but the playing field would be much more level for a war for independence.

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  18. its worse then you think, watch a vid ''what in the world are they spraying' (full version) all resorces will be controlled, add in the chip program ,were in trouble, I think Ron Paul was our last chance. hope its not too late.
    peace from Scotland

  19. nepotismo espiritual também é crime, tem que manda desce a parentada toda, é lógico po, entrei na policia federal ontem e falei pro segurança em voz alta" nepotismo espiritual é crime, o certo é manda desce tudo".

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