January 19, 2008
Updated March 23, 2008 - (Video added below- "Ron Paul on CNBC's Kudlow & Company 3-20-08 7pm est discusses why we should abolish the federal reserve")
Ron Paul on our governmental monetary policy;
"We look at GDP numbers to reassure ourselves that all is well, yet a growing number of Americans still do not enjoy the higher standard of living that monetary inflation brings to the privileged few. Those few have access to the newly created money first, before its value is diluted.
For example: Before the breakdown of the Bretton Woods system, CEO income was about 30 times the average worker's pay. Today, it's closer to 500 times. It's hard to explain this simply by market forces and increases in productivity. One Wall Street firm last year gave out bonuses totaling $16.5 billion. There's little evidence that this represents free market capitalism."
Ron Paul & Economics - Saving the Economy; Saving America
A lot is being said about the economy these days and for good reason. Even at the last S.C. Fox debate (I believe it was) they were talking about the "Reagan Revolution" and even Mr. Obama is playing up to this. Ron Paul's campaign manager should jump on this and have Ron say every time the Reagan Revolution is mentioned and how great he was and what he did for our economy, something like: Yes, the Reagan Revolution was great, some twenty years ago. We are offering similar, which my supporters have coined the "Ron Paul Revolution" and is available today!
A lot could be said about late president Reagan and congressman Paul. Let's dig in deeper though into what is happening today and how Ron Paul can help us as president with the economy.
Congressman Paul, a fiscal conservative, sits on the Joint Economic Committee. Recently, back in November of 2007, they (members of the Joint Economic Committee) got to question Mr. Bernanke (See video below). Here is how the ABCNews article below, titled, "Paul vs. Bernanke on Value of the Dollar" reported it. "During today's testimony questions from most senators and representatives on the committee had to do with the housing crisis and whether a recession was in the offing. But when Paul squared off with Bernanke, things were a bit different." Right away you see he does not ask the layman questions, "is it going to be ok" or "can we make it" but he will get right into specifics and technical details.
Ron Paul went on further to say; "There's a dollar crisis out there and people's money is being stolen; people who have saved, they're being robbed. I mean, if you have a devaluation of the dollar at 10 percent, people have been robbed at 10 percent. But how can you pursue this policy without addressing the subject that somebody's losing their wealth because of a weaker dollar? And it's going to lead to higher interest rates and a weaker economy."
We are in, what could become, the perfect (not so perfect in terms of our standard of living) storm. High oil prices, a weak U.S. dollar, the housing bubble has burst (meaning a general banking crisis could be on the verge and certainly lending will be curtailed.) and what is now starting to be called a recession. People are careful to use the "R" word, yet it is being used and the stock market is taking a beating. Although inflation figures are up, the general feel of inflation is much worse, for although our pay is slightly up, the value of our USDollar is way down.
Government intervention is generally a bad thing. President Bush just announced today a temporary tax relief package. It will equal to, get this, 1 percent of America's GDP (Gross Domestic Product) which is, well, about $140 billion. Now, do not get me wrong, we need to help families that really need it, but how can our government outlay more, 1% more (which is a lot) of our GDP into _trying_ to keep the bubble full of air, hot or otherwise? Where does this money come so easily from? A printing press (more-or-less)
CNN.com article temp tax relief plan
Johannes Gutenberg invented the printing press in around 1456 in Germany to help spread God's word, so that he could mass produce the Bible and let the common man be freed, of a spiritual nature. This same printing press process (little has changed with the concept of printing since those days) will be used to press green ink on paper, costing not all that much- they will, as all of wish we had the ability to do, simply print that money they are so graciously giving us. Say no thank you. Please do not just treat the symptoms if you can cure the problem (why create more debt?!). So, what would Ron Paul do?
Ron Paul would lower taxes , dramatically, by heavily reducing the size of our government. As he says, "Working Americans like lower taxes. So do I. Lower taxes benefit all of us, creating jobs and allowing us to make more decisions for ourselves about our lives." In addition to less civil servants, he would bring back the 130 "bases" we have around the world (unless absolutely needed AND the host government wants us there), saving us a whooping 1 TRILLION dollars every year, he would not tax "tips" at all, freeing up much more spending power and drastically re-organize or do away with the Federal Reserve- the very people, printing that money as I type this. (Mind you, the Federal Reserve is actually owned by mainly foreign business and individuals, not our government, not you or I- others whom may have different values, ideas or goals than we do.
Read Ron Paul's piece on the Federal Reserve, titled "Monetary Policy is Critically Important": Here
Basically, Dr. Paul's plans would very quickly help our economy without the need to wildly print money, thus creating of course debt and the often un-seen "Inflation Tax." There is much more he would do, such as peg the dollar on a "gold standard" like system, keep us out of a degrading NAFTA plan and their plans to scarp the USD to create the Canadian, Mexican and American joint currency, the AMERO. He would encourage free trade with all countries around the world and would not impose our ideals on them, unless they ask. Who are we to judge them, to dictate how to do things? Ron Paul would truly get to the business of saving us from this potentially perfect storm. Good thing it is an election year, for that may prop up the economy a bit as well, but the seas on the horizon look rough.
As mentioned above, ABCNews wrote a fair piece about Ron Paul's questioning of Mr. Bernanke from a few months ago. It shows Dr. Paul's leadership capabilities, by breaking ranks with the rest of congress and bringing to light the very nature of the problem, not just sweeping it under their very expensive, CEO paid-for carpets. It should be noted, basically no other main stream news outlet carried this story, which is sad, amazingly sad. Read the article here:
Paul vs. Bernanke on Value of the Dollar
There is also a nice video below of this stellar round of questioning from congressman Paul at the end of this webicle(article).
My grandfather used to say he had a money tree in the back yard. Our government *really* does, once again, called a printing press (and the Federal Reserve monetary system) and it is printing us (and lending us) into massive debt with no sight in end with just about any of the presidential candidates, accept Ron Paul. The debt is at about $30,000 per U.S. resident! US Debt Clock k/ Or an incredible figure, ever rising it seems of about $9,193,053,268,365.71 !!!
I look forward to hearing more directly what Ron Paul thinks of president Bush's tax relief plan- yet I guess we can guess what he would say. We heard for instance that yesterday in Nevada, Dr. Paul was calm and stuck to his message of federal spending cuts as one of the first needed steps to a better economy. Not printing more cash
Johannes Gutenberg, the founder of the modern printing press was quoted as saying, "Religious truth is captive in a small number of little manuscripts which guard the common treasures, instead of expanding them. Let us break the seal which binds these holy things; let us give wings to truth that it may fly with the Word, no longer prepared at vast expense, but multitudes everlastingly by a machine which never wearies to every soul which enters life." Ron Paul, the PaulRevolution is offering us Americans a similar freedom- a U.S. government that is run strictly by the constitution, offering truly freedoms and liberties for all.
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"Ron Paul on CNBC's Kudlow & Company 3-20-08 7pm est discusses why we should abolish the federal reserve":
Dr. Paul vs. Mr. Bernanke