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A paper monetary standard means there are no restraints on the printing press or on federal deficits. In 1971, M3 was $776 billion; today it stands at $8.9 trillion, an 1100% increase. Our national debt in 1971 was $408 billion; today it stands at $6.8 trillion, a 1600% increase. Since that time, our dollar has lost almost 80% of its purchasing power. Common sense tells us that this process is not sustainable and something has to give. So far, no one in Washington seems interested.
Ron Paul
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Having federal officials, whether judges, bureaucrats, or congressmen, impose a new definition of marriage on the people is an act of social engineering profoundly hostile to liberty.
Ron Paul
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Because federal hate crime laws criminalize thoughts, they are incompatible with a free society.
Ron Paul
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Our federal government, which was intended to operate as a very limited constitutional republic, has instead become a virtually socialist leviathan that redistributes trillions of dollars. We can hardly be surprised when countless special interests fight for the money. The only true solution to the campaign money problem is a return to a proper constitutional government that does not control the economy. Big government and big campaign money go hand-in-hand.
Ron Paul
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Question:
If you could pick one cause that has gotten us here, what'd you say it is?
Ron Paul:
Easy money. The Federal Reserve artificially lowering interest rates, deceiving the people, the investors, the savers, into believing that there's a lot of savings out there, and that we should invest more, build more houses, more cars. It's the malinvestment, which is every bit as dangerous, from the inflation of the money supply, as is the high prices that usually come.
Ron Paul
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The federal government has no right to treat all Americans as criminals by spying on their relationship with their doctors, employers, or bankers.
Ron Paul
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The Civil Rights Act of 1964 gave the federal government unprecedented power over the hiring, employee relations, and customer service practices of every business in the country. The result was a massive violation of the rights of private property and contract, which are the bedrocks of free society. The federal government has no legitimate authority to infringe on the rights of private property owners to use their property as they please and to form (or not form) contracts with terms mutually agreeable to all parties.
The Civil Rights Act of 1964 not only violated the Constitution and reduced individual liberty; it also failed to achieve its stated goals of promoting racial harmony and a color-blind society.
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I would like to believe that if we had a freer society, it would take care of blacks and whites and everybody equally because we're all individuals. To me, that is so important. But if we had equal justice under the law, I think it would be a big improvement. If we had probably a repeal of most of the federal laws on drugs and the unfairness on how blacks are treated with these drugs laws, it would be a tremendous improvement.
Ron Paul
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Because most minority-owned construction firms are small companies, Davis-Bacon keeps minority-owned firms from competing for Federal construction contracts. The resulting disparities in employment create a demand for affirmative action, another ill-suited and ill-advised Big Government program. The racist effects of Davis-Bacon are no mere coincidence. In fact, many original supporters of Davis-Bacon, such as Representative Clayton Allgood, bragged about supporting Davis-Bacon as a means of keeping cheap colored labor out of the construction industry.
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I don't even like big government in Washington, let alone having super government over our federal government, such as a North American Union, or the United Nations, or any of these organizations. It just means more government and more attack on individual sovereignty, which is the real issue.
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From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
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When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans. Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.
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In the free society envisioned by the founders, schools are held accountable to parents, not federal bureaucrats.
Ron Paul
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Nothing good can come from the Federal Reserve. It is the biggest taxer of them all. Diluting the value of the dollar by increasing its supply is a vicious, sinister tax on the poor and middle class.
Ron Paul
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Income taxes are responsible for the transformation of the Federal government from one of limited powers into a vast leviathan whose tentacles reach into almost every aspect of American life.
Ron Paul
Quote of the day
In England, the profession of the law is that which seems to hold out the strongest attraction to talent, from the circumstance, that in it ability, coupled with exertion, even though unaided by patronage, cannot fail of obtaining reward.
Charles Babbage
Ron Paul
Creative Commons
Born:
August 20, 1935
(age 89)
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