Texas Straight Talk

A weekly column

Too Big to Fail?

In the midst of highly unpopular bailouts of Wall Street, many justifications have been given about why Washington feels the need to act.  Some claim that capitalism and the free market are to blame, but we have not had capitalism.  If you compare our financial capital to our aggregate debt, this would be obvious.  In the same way, we have not had a truly free market.  The monetary manipulations of the Federal Reserve, a complex tax code, the many “oversight” agencies and their mountains of regulations show that we are far removed from a free market economy.

Another unsatisfying argument is that certain entities have to be bailed out because of their economic importance.   Supposedly, some entities can be so big, so important, that no matter what they do, citizens must perpetually sustain them. 

Even limited government has a basic duty to defend against force and fraud.  Some argue that force is somehow permissible just because the entity engaging in it is "economically significant."  But one could use this reasoning to prop up slavery.  It could be deemed unfortunate but economically beneficial, and indeed these arguments have been used historically to deprive people of their liberty.  But slavery should never be tolerated regardless of any economic benefit, just as systemic fraud should not be tolerated.  Some banks on Wall Street should fail.  Fannie and Freddie should fail.  They are perpetrating fraud against the people.  Yet, government insists on rewarding behavior which should instead be investigated, prosecuted, and punished.

There has been much evidence of fraud at Fannie and Freddie, but when one man, Franklin Raines, defrauded the organization out of millions of dollars through illegal accounting tricks, and ends up agreeing to pay back just a fraction, one could argue that it was well worth it to him.  Fannie went on to only get more deeply involved in subprime mortgages after this investigation.  Several organizations are suffering right now precisely because the free market is trying to work and punish mismanagement, if only the government would get out of the way and let it.  Perhaps banks are not lending to each other because they know that complicated accounting standards, created in part to defend against confiscatory tax policy, enables false fiscal pictures to be presented, which erodes trust.  But this is not a time for the government to step in with more burdensome and complicated regulations, or more foolish liquidity injections.  This is a time for some banks to fail, and remaining banks to deal honestly and transparently once again.  More regulations will only result in more lies.

Just as economies that turned away from slave labor had a transition period, our economy would transition as well, but in the end, if we turned to honest, sound money and a truly free market, we would end up with a more just society, founded on truthfulness and decency, not subject to the violence of force or the whims of fraudulent institutions.  Unfortunately, it seems we are headed into a new era of slavery, however, where all taxpayers will be forced to render to the Fed and big banking interests the bulk of the fruits of their labor, possibly through higher taxes but definitely through the eroding force of inflation.

 

Feel free to leave your comment ONCE.  Comments are moderated and may take several hours to appear.

Posted by Ron Paul (10-20-2008, 01:27 PM) filed under Monetary Policy

Comments

Comment by Dave
October 20, 2008 02:04 PM
Please help take the money back from these mortgage and banker CEO's and put them in jail along with Paulson, Bernanke et al where they belong for doing this to us.
Comment by Wanda Tolar
October 20, 2008 02:06 PM
Thank you again Dr. Paul for showing them the error of their ways....if only they would listen!

I applaude your efforts.

God Bless you and yours!
Comment by Ronald Muller
October 20, 2008 02:11 PM
I agree with you 100%
I also think that stupidity alone could not have done the amount of damage to our economy as these crooks have.
This whole debacle was planned for many many years!!!
r m
Comment by Stas Sakalou
October 20, 2008 02:20 PM
This is true and very sad to hear. But for me, as a person choice is relatively tough. However I understand some categories of people like farmers in Bangladesh or American soldiers in IRAQ have much tougher choices then I do. So I do not complain.

As being a working person, I need to keep my money somewhere. I need basic checking account to run my daily expenses. I need something that I can put my savings to buy a house when I save enough and some account that I can consider as 401K.

FDIC insures 100K deposits, and I have less. So I do not care for checking and savings. But I care for 401K. Inflation risk is high; stocks are too volatile to invest; bonds are not secure.

I am just afraid that in long time perspective 401K savings become worthless because of government intention in case of any crisis print more cash. I do not have nerve to keep money in stocks.

Point is that when currency is not connected to any hard asset as gold, any plans for saving for retirement become a gamble for how currency will stay over time.

Last bail-out just sent another warning that chances in this gamble might be not good for those who hold cash.
Comment by Alfred
October 20, 2008 02:22 PM
There has never been a better time in our history to sponsor a bill to eliminate the Federal Reserve or at least make it government agency. There has never been a better time to support a flat tax or consumption tax. There has never been a better time to abandon fiat and replace it with sound money. It looks like those alleged enemies of ours in Islamic Countries have it right when it comes to money. They have gold backed currency. And when gold is not available it backs its money with hard assets like oil. Perhaps our failed money system is not a matter of a failed mortgage system or other crushing debt. It is the perception that U.S. Currency is about lose the little perceived value it has left worldwide. It is the perception of the average American that we are not the clients of our government but that fiat makers are the client. We have lost confidence in those who are suppose to protect our personal finances making us powerless to protect ourselves. We have been sold down the river.
Comment by Pam C
October 20, 2008 02:25 PM
If it weren't for Jesus & refreshing (as an angel) Ron Paul, the insanity of the governing of God's AMerica would be hopeless.
Yes! GODSPEED RON PAUL'S PLUS HIS SUPPORTERS! THANK YOU!!
Comment by Henrietta Simon
October 20, 2008 02:26 PM
Thank You Dr. Paul for being there for the American People,Your the only honest voice for the people.
Comment by Fred Mitchell, DO
October 20, 2008 02:28 PM
Ronald Muller has it exactly right: "This whole debacle was planned for many years!" (I would have said decades.) Few Americans are willing to face the fact that there are (and have been) evil people in this world who want to conquer and destroy our nation. Pres. Bush recently referred to them as "Our partners abroad" on a Fox News broadcast. Could he have meant the Rothschild bankers? For a partial list of names, check out the August Review website. These are the people who chose our President's Cabinet!
Comment by Adam
October 20, 2008 02:31 PM
Every week you make sense, Dr. Paul. You are what this country needs right now.
Comment by Michael Robinson
October 20, 2008 02:31 PM
Dr. Ron Paul, I would first like to thank you for being the first person I have seen take a major stand against the corruption within our government. This kind of thing is exactly a shining example of what is wrong with our government. I truly wish that you would change your stance on running as an Independent. I understand why you won't though, as a lot of people do not truly understand that a vote is not wasted unless it is on someone they do not truly believe in what they stand for. However, please realize the Republican party HAS strayed from its path of original ideals. It has became as corrupt as everything else you see happening before you. Our only hope is to find someone with enough brass to stand up and take this over and return us to our former glory. Maybe you are just biding your time. Maybe you do plan on running Independent in 2012(I hope). Either way it goes, you have truly made me proud to be an American and have reminded me why I have the rights I do. I have never become so involved in understanding politics until you decided to take this stand. Thank you for opening my eyes and please continue to open the eyes of others. So I thank you Congressman Ron Paul. Thank you for making me absolutely proud of our history of being free and continue to remind us of why we are free and what it is to be truly free.
I hope everyone is with me when I say Vote for Independent Ron Paul for 2012!
Comment by Robert Gately
October 20, 2008 02:32 PM
Dr Paul,
Please, please consider becoming the Next Secretary of the Treasury...I and many others firmly believe that you are the only one that understands the state of our fiscal nation and can correct the rot that has infected it.

With faith, hope and no more charity to banks and stockbrokers.

Sincerely,

Robert W. Gately
Comment by David Durbin
October 20, 2008 02:34 PM
Dr. Paul,

You can do more good for America as the Speaker of the House than you could have done as President.

All spending originates in the House and "He who has the gold rules".

All we voters need to do is deliver to you a cleaned out House this coming Nov.4th for you to rule over.
Comment by Tom
October 20, 2008 02:40 PM
We need a third party now more than ever. Please consider running as an independent now so that we can get something started for the next election.
Comment by molly cruz
October 20, 2008 02:44 PM
Ron Paul is like the little guy in the "Cincinatti Inquirer" cartoons of old in the New Yorker; his consistent right on powers of observation resonate while the rest of his part flounders in ignorance and yes, superstition, which replaces the intellectual paucity of most of its adherents. Wrong part? Seems like he's always preaching to the Choir of Democrats who would like to have supported him but for his nefarious associates. I hope he can play a role in Obama's administration, Barrack would be a fool to ignore his obvious, relentless superiority of judgement.
Comment by Chapin
October 20, 2008 02:46 PM
Keep up the good work Ron. I agree with you as well. Why bail someone out who couldn't do their job? I could possibly see if they re-enstated someone else to take over, but why let it continue? Its sad what their doing to their country and how obvious their being about it.

Sadist the this country was made to help people get the opportunity to succeed and bring greatness to the world. Now, the big guys will keep that which we reap or come take half of it.

God Bless you and yours. Keep working hard.
Comment by Dan Ogletree
October 20, 2008 02:48 PM
Should we consider Bob Barr Novemember the 4th? Are his policies close enough to Ron Paul?
Comment by Michael Black, P.E.
October 20, 2008 03:02 PM
Dr. Paul:
I have been a "McCain Republican" since John McCain was slimed by George Bush. However, neither McCain or Obama have a clue that us citizens lack trust of our big institutions.

We were mugged and nothing is being done to punish the muggers. We live in a Country where a black guy spends 5 years for possessing 1 oz. of crack and a CEO gets a slab on the wrist for stealing billions.
Comment by Mark Ferguson
October 20, 2008 03:03 PM
Thank you, Dr. Paul, for another reason we should be voting out the weaklings in Congress and the Senate who voted for the Bailout. All US Representatives are up for re-election and the ones who voted for the Bailout, among others who consistently vote against the Constitution should be thrown out.

http://www.ThrowThemOut.com
Comment by May Lattanzio
October 20, 2008 03:06 PM
NO ONE understands the economy like Rep. Ron Paul.

As a supporter/contributor to him and his campaign, I am very angry that the Republican part didn't have the guts or the foresight to make him their choice for President.

He would have honored our country.

God bless Ron Paul.
We are so fortunate to have him anywhere in our government.

http://maylattanzio.blogspot.com/
Comment by David Ben-Ariel
October 20, 2008 03:06 PM
What good is knowledge if it's not put to use? WE THE PEOPLE ought to demand the dismantling of the fascist IRS and Federal Reserve or we'll have learned nothing and can expect only worse things to come.
Comment by John Mahler
October 20, 2008 03:09 PM
Tribute slavery is still slavery. Since the first day of the IRS, no person in the United States can claim personal sovereignty. It is most ironic in the wake of the civil rights legislation of 1968 and later. This generation of tribute slaves pays 5 times the taxation our founding fathers paid King George. It was taxation which drove them to the Declaration of Independance. Why do we lie here supinely upon our backs?
Comment by George
October 20, 2008 03:10 PM
The people behind all this mess are the same people who have never allowed anyone to stand in their way.
Lincoln, Garfield, McFadden, McDonald, John Jacob Astor, Benjamin Guggenheim, Isador Strauss, John F Kennedy, Robert F Kennedy were all silenced by these same corrupt criminals who operate and orchestrate what we call the Federal Reserve System.

We must eliminate the Federal Reserve System, arrest Bernanke, Paulson, and the BUsh Administration along with the Senate and the House. Then burn down the buildings, and start over.

Anything less, is a waste of time and all the corruption will continue.
Comment by sarcasmo
October 20, 2008 03:14 PM
Wow. Good thing the government went after e-gold & the Liberty Dollar so hysterically. You see, 100% backed is somehow "bad," but highly leveraged is "good," and all citizen-units are automatically money laundering suspects. I'm also inspired by the excellent job the news media did, while the clueful shouted facts at them, ignoring the credit default criminality. Yes, obviously outsized salaries on Wall Street weren't a problem, but anything remotely related to internet gambling WAS a problem. Don't you feel safer now??
JMR
Comment by Ryan
October 20, 2008 03:20 PM
In the last 8 years we have seen the biggest growth in the Federal Government, both in percentage and in dollars, and look where it's got us! Get the government out of the way and let the people of America have their money to use as they see fit, only then will the economy be able to have a real 'stimuls' and bring prosperity back to our Nation!
Comment by Lewis
October 20, 2008 03:26 PM
I wrote Ron Paul in this morning, from what I saw on the ballet he is the only one God approves of.
Lewis
Comment by Wes
October 20, 2008 03:29 PM
Our country is facing a liquidity trap which is only going to make the recession all the more severe. Expect more helicopter money, more corruption and rampant inflation. I pray for your well being Dr. Paul. You are what our country needs. Thank you.
Comment by Boyd
October 20, 2008 03:36 PM
It was on the news yesterday that the FBI was not manned well enough to conduct a proper investigation of this fraud. It looks like the CEO's of these company's will walk.
Comment by Dan
October 20, 2008 04:03 PM
Dr. Paul:

I agree with your analogy that is why it is important to get your bill H.R. 5427 - To Provide that no tax or fee may be imposed on certain coins and bullion passed. By providing ordinary citizens the ability to opt out from this fraudulent system by buying gold unencumbered, the ordinary citizen can save and provide for his/her family in an honest and moral manner. I find it disconcerting that we are not allowed to utilize constitutional money to conduct business. Am I missing something?

Maybe this bill should be attached to the upcoming stimulus package being promoted by Congress.

God’s Speed.
Comment by Pat
October 20, 2008 04:04 PM
Dr. Paul, you're preaching to the choir!

I told my representatives not to vote for the bailout, and they ignored me. I'll campaign/contribute to their opponent's election, next time around. That is of little comfort, somehow.

In a couple of weeks, we'll get to choose between two more "American Idol"-vetted candidates whose most compelling political attribute is that they aren't the people who preceded them. Yes, that IS what we've devolved into!

I wish you were still in the race, sir, but I'm kind of pleased that a good man like you won't be charged with picking up the pieces of the mess that's about to ensue. It's getting stormy outside...
Comment by Ed
October 20, 2008 04:15 PM
The slavery analogy really put things in perspective. Mr. Paul is the lone voice of reason at a Mad Hatter tea party. If we only had more like him and less mad hatters...
Comment by riaz
October 20, 2008 04:21 PM
Islam has all the systems to run the world. In time falsehood destroys itself. Become muslims and enjoy the serenity in patience.
Comment by mark
October 20, 2008 04:25 PM
Now, with the nationalization of the banks, the interest on your mortgage and thee fees on our checking account with the nationalized bank is now a FEDERAL TAX!

Just wait till the shorts get into the nationalized bank stocks, and further bankrupt the country.
Comment by Larryo
October 20, 2008 04:30 PM
Congressman Paul -

While I have great respect for your honesty and unparalleled - at least in these times - integrity, the time has long passed for laissez faire. In any event, it was always a cover for predatory capitalists to do what most benefited their bottom lines - it was, as an example, a prime bulwark against the anti-child labor movement in the 1920's and 1930's. I am surprised you fail to acknowledge that - had government not intervened in the economy, we would still have had child labor in the factories, right up until the time the factories and the jobs in them were shipped overseas because the US government was too busy deregulating and globalizing to stop it.

The problem is not government intervention in the economy - the problem is that the government has been bought by the vested interests and the people have been disempowered and gulled by a traitorous corporate media.

This is no longer the largely rural, decentralized agrarian society that Jefferson idealized, and it won't be again. The task now is to prevent it from becoming the first post-industrial banana republic.
Comment by Roland
October 20, 2008 04:42 PM
Congressman Paul will continue to fight for us no matter what. Thank you Congressman for all you do for America!
Comment by Kay
October 20, 2008 05:09 PM
You are, of course, right on all points. I worked in the mortgage industry -- not in management -- and saw the way that ordinary people were sucked into their snake charming spiel. "Refinance and get cash back in your pocket." and "Don't take out an auto loan -- just use your home's equity." Now the home is mortgaged to the hilt and it's worth bupkas in the market. And the people who perpetrated the fraud just got bailed out by Congress and Joe the Plumber is losing his home.
Comment by Neal Ames
October 20, 2008 05:10 PM
Congressman Paul,

Although yours was the only presidential campaign I contributed to, this election, I am still a Democrat. I believe there is need for government oversight in many situations. (Highway Patrol on the Freeway). In the financial, and other big money areas, the government in proscribing business decisions and allowing Crooked CEO's to cheat and steal, instead of allowing them to make their own business decisions and reap their deserved rewards (failure, in this case) but bust them for cheating and stealing.
Comment by joe
October 20, 2008 05:16 PM
Another Economic Stimulus package from yet more fiat currency.

The cruelest tax of all is coming and it's coming big time. That tax is called INFLATION.
Comment by vlastic
October 20, 2008 05:19 PM
The budget should be balanced, the Treasury should be refilled, public debt should be reduced, the arrogance of officialdom should be tempered and controlled, and the assistance to foreign lands should be curtailed lest Rome become bankrupt. People must again learn to work, instead of living on public assistance. -- Cicero , 55 BC


And Rome fell
Comment by Jared Jobbins
October 20, 2008 07:10 PM
Thank you, Dr. Paul. You and my representative, Marsha Blackburn of Tennessee, are patriots. Please, do not end your fight. Remember, in the beginning, only 10% of the American population supported the American Revolution. 10% is enough. Vote Libertarian! Unlock the federal campaign funds with only 5% of the vote in any given state. That doesn't sound like "throwing away your vote" to me…
Comment by Harold
October 20, 2008 07:20 PM
I'm sorry, but capitalism suffers the problem of all ideologies, it needs an antecedant to have any meaning.
Ecomomics only makes sense like everything else, in relation to something, like people or not robing people.
We trusted that this was a corporation and that all boats would rise with the rising tide. We gave our lives, thinking we were part of something, but without, say, 30 percent voting rights in the corporations that we made rich, who just didn't turn out to be fair. The head cheating the body. We let the government miseducate us. Who could know. We were born into it. I don't suppose you want to see that. It takes a different mind set. One looking at the facts. Paying beads for Manhattan and fiat dollars for honest work is fraud. I know no one here may get or realize how extensive was the fraud and that the Dems are only asking for fairness, a hand up not just a hand out. Like the airways sold to the highest bidder, the richest of the rich and we get back junk programming with excuses in return. Wasn't the airways what we died for? There should be channels for education in starting and succeeding in business. GED online and TV for no adult left behind and to tutor the young. It doesn't have to be government. In fact it's in the way.
Retooling for when we aren't needed anymore due to technological advances. If we put education on the TV, what wil happen to all the professors. Machines are replacing the already cheap labor in China. We divided the labor for more efficiency and the lawyers wrote us out instead of serving each other, manipulating us beyond understanding even with a doctorate, unless it's in indoctrination.
Maybe they didn't see it before and no ones to blame, but now it's plain for all to see as predicted and it is truly a time for change. Not to socialism, but to being our brothers keeper. Watching each other's back not stabbing each other in it. That's the new world order, top down, bottom up leadership.
Totalitarianism, aristocracy and theocracy all lead to the fallacy of the exluded middle. The sides of a coin are only the outer faces of the middle. The sides of a coin are the surfaces of the middle. We payed them to serve us as we serve them. Lawyers can talk your shirt off, but what they present only sounds good. Isn't that fraud also?
I don't think you would be here if you understood the full scoe of that and I really want to talk about truth, as knowing the truth will set you free.
Reality is about relationships. The planet is one planet and you wouldn't let the heartlan die to save the head, expecially a head without a sane brain. We sharpen each other. It's the law.
I guess it takes quite a mind to follow this, but to think properly you need to understand words and language, and until now few knew how it worked. Wittgenstein noted that truth is all truths. That means left is true sometimes and right it true for someone else at another time, so everything is true in the mind, in some why as all in the mind, in analogies anyway. It's true as metaphors.
Everything relates to everything else and word 'a' gets it's meaning from word 'b' and vice versa. Words, then, can actually mean the opposite of how we traditioanly use them, traditions of men. Most words have a negative and a postive meaning plus several others. A word may have a myriad of meanings. That's why the literal understanding of the Bible brings death, while the meanings in each situation brings life.
Ideologies are sensible only in relationships and properly applied. It's not situational ethics, it's just that cases change laws also. Love varies widely, by the situation. What's loving in one situation is hateful in another. You can't be hypnotized, if you know what truth is. Being told that we don't know what truth is, is a step in the direction of deception. The question, "What is truth?' cannot be answered without knowing what you want to know about it and that can only be implied by the situation and your intention. That's the nature of truth. You can't have consciousness, except consciousness of something, at least a feeling or something. Truth is truth about what? Or what about truth? How do you apply it? Apply it to what? I think that you will have many more illustrations in the Obama Biden plan at barackobama.com.
I'm not about a candidate, just the truth about truth. Really, anything you think about is ultimately probably easier to handle, if you think of it as a math formula. You need two variable, a + b to solve for c and then you can eventually figure anything out. The subconscious has usually already solved it so you only have to listen to your intuition and question those intuitive thoughts that are always coming out to see if they are intuition or our own dumb thought habits we where taught or due to inexperience.
Oprah credited her intuition for everything, Einstein did for his theories as did almost everyone who is a name. Unfortunately Bush used his 'gut reaction', That's not necessarily anything, but a reaction, from a dissolute life, like MCain. Everything around them turns to dust. I'm just saying what I seem to see. Call me a false prophet if I'm wrong.
The left brain breaks down everything and it's the thoughts from the visual logic and inductive linear logic of the right brain that solves for the meaning. All our answers are in the right brain. If it doesn't have enough information, we will get an idea like, "I wonder where I could find that out?" and an idea will come to you. You can use the scripture that says to test the ideas and see if they are from God, that is they are true, work, usually testable, and scriptural. Why else the saying, "The spirit of truth will lead you into all truth"?
There you have it in a nutshell. There is a little on how the mind works in the old NY Times. Good health to you. article, "Free will: Now You Have It , Now you Don't"
Comment by J Roman
October 20, 2008 07:21 PM
Wall street has taken the invest out of investing. Invest is defined as "To commit (money or capital) in order to gain a financial return." the operative word Is "commit". What Wall street and Paulson's cronies have created is as perfect a Ponsi scheme that the world will ever know. The world is awash in worthless paper and the so called experts are mystified how to price it. Very simple it's WORTHLESS. Nobody wants it so let's stick it to the taxpayer. Enough is enough. The financial system doesn't work, the value has been taken out. When will the experts recognize no one wants worthless paper. Ron, the simple solution is every transaction must have something of VALUE exchanged not just pieces of paper. Bring back gold and silver as the means of exchange. We must all sacrifice in the short run to save the long run.
Comment by Harold
October 20, 2008 07:42 PM
I kinda hope someone get's my post as it's really neat. But maybe the teacher will appear when the student is ready or the student will appear when the teacher is ready, I've only been at this for a year. luv
Comment by Ben Harrison
October 20, 2008 07:52 PM
Government? What Government? We have not had a bona fide government for so many years. Yes, Ronald Reagan did his thing, but.... Wwe have had a gun to our head ever since the income tax was devised and then demonized. The love of money is the root of all kinds of evil. Our elected officials are living proof. There are CEO's in prison for doing what Wall Street and the MAC's have done. They need to be there also. Though your name is not listed in Ohio, I will write it in. And I agree, we need a third party but one that is more alive than what is called the Independant or Libertarian. We also need a safer way to invest. I came under Social Security early on with no other options. There are other options now and I strongly encourage readers to use them early on.... Right on Ron Paul! Right on!
Comment by Gordon
October 20, 2008 08:18 PM
This country boy don't know much 'bout bankin' business, but he sure don't remember cosignin' no mortgage note.
Comment by Roger Reiner
October 20, 2008 08:24 PM
Many of us have been through quite a few recessions and what is now happening is perhaps partially recession but certainly far more, and the following is an earful of "food for thought", but certainly not an exhaustive study of the situation.

None of the past recessions that I am aware of have resulted in such drastic measures as have, and now are, being proposed and implemented, unless one goes way back to the crash of 1929 and subsequent Great Depression. The jury is still out as to what we are now experiencing as it appears to be more of a quagmire, an "economic black hole" if you will which includes a taste of recession and depression, inflation and deflation and God only knows what else. We have witnessed the wholesale disappearance of investment banks despite all the bailouts. There no longer exists very many traditional avenues for going concerns or growing businesses large or small to even attempt to raise badly needed funds short of liquidation of savings, private investors, or going directly to the Federal Reserve to borrow, which the Fed has stated is an available option but they have not provided or revealed the means to accomplish this to the general public, so it may as well
not exist except as another pipe-dream, unless you happen to be GM or some friendly conglomerate. Also, short of some real insight into what direction this whole thing is going, many otherwise willing borrowers are taking a wait and see attitude, so it behooves the Fed and the governmental leadership to provide the general public some sort of indication of what exactly they intend to do to bail out "Main Street". Why does the Fed continually allow banks and money institutions to borrow through their various windows without some sort of quid-pro-quo that would dictate and require that the banks are actually putting these resources to work in the real economy? Why are many banks allowed to borrow at 2 or 3 percent and then loan out much of this at 20 to 30 percent or more on credit cards? In order to restore sanity, there seems to be a real dire need for a national usury rate commensurate with the economic problems we as a nation are facing -- something
like dropping all existing mortgage rates to fixed rates of 3 or 4 percent, business rates from 5 to 7 percent and credit card or higher risk rates from 7 to 10 percent -- maximum of 10 percent regardless, and none of these up and down variable rates associated with rates set by LIBOR or some other adjustable mechanism. These usury rate drops are critically needed immediately; along with perhaps quarterly or perhaps more often tax rebates if they are serious about trying to address the quagmire and/or prevent something like a rerun of a complete collapse or worse -- what good does it do to bail out "Stock and Financial Market Street" without at least keeping a support under "Main Street". If "Main Street" is allowed to go down then there is no need for the other, and if that is the intent then all the bailouts need to be refunded to the taxpayers. Why is high credit card interest any different than other forms of price gouging -- to me it is the same as a gas
station selling their gas for $10, $20, $30 or more per gallon or quart. This is politically wrong yet it is perfectly acceptable for the big oil companies to report record $$$ Billions in regular quarterly profits. This "do as I say, not what I do" attitude smacks of way too much arrogance and needs to be addressed, corrected, removed from leadership mentality before the "crisis of confidence" can be truly restored. An alternative would be to simply pass a law that would forgive all existing debts and start over with the constitutionally mandated system that has long since been allowed to be evaded and replaced with the fiat "funny money" system we enjoy so much today.

It is hard for people to try to be more careful with their own money when our own government is spending to the hilt with reckless abandon without concern as to where the offsetting future repayments are to come from -- near as most economists can tell, we are probably now spending all the taxes to be paid by four or five or more future generations. The bailout/rescue plan or whatever one chooses to call it is not just for $700 billion, as that is only the first installment -- the actual bill they passed as I understand it allows for as many renewals of the same amount as congress is willing to approve; only now they merely need to have a vote without all the media fuss of actually drafting another bill. Maybe they don't even need a vote -- who knows? Maybe some obscure thought injected into that bill would allow a decision to renew it by the Pres or Fed or Treasury. Maybe they will only need another vote if they want to increase future installments from
$700 Billion to the actual Trillions needed to shore up the entire nasty exposure that they have created or at the very least allowed to occur. How was it that over $600 Billion in bailouts had already occurred before someone finally got the notion to actually ask permission for more?

As to root causes of the financial/economic quagmire we now face, one can perhaps lend some credence to the derivatives, mortgage markets, speculators, etc. The fact of the matter is that those are merely symptoms of the disease and not the real cause. The real cause if one goes back far enough is that the world's central bankers have precipitated this condition by virtue of the widespread creation of fiat currencies and then the combination of loose credit for a long enough period of time to hook the masses, followed up with dangerous and unprecedented increases in energy costs. Whether this was done by intent or conscious decision or simply by negligence allowed to happen is a mute point as the result is the same.

What ensued is the simultaneous tremendous expansion of debt via mortgages, complex unregulated gambling derivatives embedded within the entire financial banking and insurance industry which are estimated to total in excess of $180 Trillion in debts, easy credit everywhere all prompted by Federal Reserve fiscal policies to the extent that they no longer even know how much money is in existence as reported per congressional inquiry and testimony by the Fed Chairman himself. Combine that with the subsequent constant milking of liquid cash/credit out of the system via increased energy costs and that was the critical factor that triggered the current economic catastrophe seriously affecting a vast key segment of working middle class, mortgage borrowers or people on limited fixed incomes. Most people were doing fine struggling to pay their mortgages and bills until the extra fuel costs continually sucked them dry to the point that something had to give -- this is the
"straw that broke the camel's back" so to speak. Very few mentions have been made by the sponsors of bailout mania as to the derivative mess -- how are they going to bail out that $180 Trillion mess?? (that is a conservative estimate of debt exposure -- it is so huge that it could be much higher and some have guessed it may be $600-$700 Trillion -- being unregulated and unreported, who really knows? ). Now, of necessity, we already will have to face higher interest rates at precisely the exact wrong time, in order to continue to attract foreign investors to buy up our collapsing Treasury bond markets which in turn will only exacerbate any immediate or even foreseeable recessionary, depressionary, pressures. We are now seeing simultaneous deflation and inflation at unprecedented levels -- is it any wonder that the stock markets are going crazy day to day? Yesterday I purchased an item priced at $60 and marked down to $19 at a car parts store. Today I purchased a gallon of milk at a convenience store for $5.08 -- go
figure. The nation needs to pray for real leadership, guidance, and direction if it is to survive, prosper, and g
Comment by Shirley Rickett
October 20, 2008 08:24 PM
I have in front of me at this moment part of the Congressional Record - House 1933 wherein Franklin Delano Roosevelt made this statement:

"If the Republican Party had releaed itself from the clutches of Wall Street and expanded the currency immediately after the stock-market crash in 1929 or within a year after the creash, ourpeople would have been saved from this awful money panic. (now it is the expansion of money that Dr. Paul has spoken about many times, that is the cause of inflation) "Our President will doubtless ask amendments to this new law when condtions are more normal and when it is better understood. Under the new law the money is issued to the banks in return for Government obligations, bills of exchange, drafts, notes, trade acceptances, and banker's acceptances. The money will be worth 100 cents on the dollar, because IT IS BACKED BY THE CREDIT OF THE NATIONB. IT WILL REPRESENT A MORTGAGE ON ALL THE HOMES AND OTHER PROPERTY OF ALL THE PEOPLE OF THE NATION. NOW DOESN'T THAT TELL YOU WE ARE THE TRUE CCREDITORS OF THE BANKRUPTCY, THAT IT WAS OUR WEALTH THAT WAS USED AS COLLATERAL FOR THIS FRAUDULENT DEBT PERPETRATED AND PERPETUATED AGAINST THE SOVEREIGN AMERICAN CITIZENS. WHAT A BUNCH OF BALONEY. TIME TO TAKE OUT COUNTRY BANK AND OUST ALL THE FRAUDULENT LIARS AT THE FED AND IN THE GOVERNHMENT
Comment by Justin
October 20, 2008 08:25 PM
I look at this and see our government, who is to represent we the people, acting as a seperate entity. The gov't somehow makes their own decisions, and expects us to follow them, when they are suppose to enact our decisions and obey We The People. The TaxPayer has spoken: No Bail Out (I will not be adopting Congresses "rescue" terminology).

I completely agree with you Ron Paul. We are not living under a free market. It appears ironic how Washington is the master of these crisis' and then they deceive the people into believing they are the saviors of our problems.
Comment by P Smith
October 20, 2008 08:30 PM
Dr. Paul

I can only thank you for opening my eyes to Austrian economics, its unarguable logic not only lays bare any short term illusion that interventionists claim credit for, but exposes their denial of the inevitable repercussions.

Your record is a credit to you and the country that once had the respect I now hold for you and those who still retain its past values.

I've never had a hero before.

But I do now!

Thank you Dr. Paul
Comment by David Uitenbroek
October 20, 2008 08:35 PM
Ron,
Right on right on. The crooked democrats have figured out how to socialize the risk (we the citizens have to bail out bad business decisions) and privatized the reward. In other woirds if they were successful the private industry reaped the reward but if they are wrong we have to bail them out? Thats just wrong!

I hope Texans have the smarts to keep you in office Ron...God bless
Comment by Dr. Anthony Cipolla
October 20, 2008 09:04 PM
From Gold News:

http://goldnews.bullionvault.com/us_federal_debt_oil_gold_price_dollar_081220081

Most of us have some vague idea that one trillion is the number that lies somewhere between one billion and one gazillion. But beyond that, we have no clue. And because we have no clue, we have a hard time making a connection between the one trillion barrels of oil that lie buried somewhere inside the earth's crust and the 54 trillion dollars of liabilities that lie buried somewhere inside the US government's balance sheet.

So how much is one trillion anyway? The creative folks at govbudget.com provide some perspective:
1 trillion seconds = 31,546 years;
1 trillion dollar bills placed end to end would reach 96.9 million miles, far enough to reach the Sun;
the entire Federal budget is $2.8 trillion. A stack of that many dollar bills would circle the Earth more than 7 times;
gross Federal debt is more than $8.7 trillion, which would make a stack of US dollar bills that would reach from the Earth to the Moon and back with some to spare;
The real figure of the federal debt is closer to $12 Trillion! ... We Are Done ... Stacked to the moon and back! Kennedy related: "We choose to go to the moon in this decade and do the other things, not only because they are easy, but because they are hard". Well, we were able to get there and back, with our counterfeit fiat money, with no Congressional over sight except for the opposition from Dr. Ron Paul. Kennedy also said: "And so, my fellow Americans: ask not what your country can do for you - ask what you can do for your country". Well maybe Kennedy's and Dr, Paul's call for you to do something for your country is to get involved and to "think locally and Act globally" (from: http://blog.mises.org/archives/008789.asp); the opposite of what is commonly thought. Our Local and the State governments gave the Federal Government the power ... they are the only ones that can get it back. READ YOUR STATE AND THE US CONSTITUTION.
Comment by HEROLD
October 20, 2008 09:17 PM
Davy Crocket had trouble with curruption. thank you for standing with him.
Comment by Robert Moore
October 20, 2008 09:20 PM
The only responsible thing to do now is to vote out of office amy incumbant politician (with the exception of Dr Paul) and choose a third party candidate if available.
Comment by Lawrence Stoll
October 20, 2008 09:22 PM
Let's say I go to a casino to play roulette. I know I am going to bet $10 most of the time, but at one time during my visit I will bet $10,000. Before I place my first bet, the dealer tells me that during my visit at his roulette table, he will make the little white ball fall on the number that he wants it to fall in. He tells me this is done for my own good. I ask him, will the ball fall in the number he chooses when I plan to bet a vary large sum? He tells me there is no way to know when the ball will fall on his command. being a trusting kind of guy, I decide to play, and lose my large bet.

Many people seen this meltdown coming. Common sense dictates that a person working as a cashier at McDonalds can't afford a $500,000 home. I knew at least five years ago that there was going to be a housing meltdown, and planned to "capitalize" on the opportunity to buy a bargain property.

Just as the casino lets the white ball fall on their number, congress does the same with the market.

I have lost all faith in our markets. There is no way to predict what the market will do when the dealer drops the ball on his number, for our own good.

Bail Bail bail. Let no one fail.

I will store my treasures in Heaven.
Comment by David Carlson
October 20, 2008 09:51 PM
Dr. Paul,

Of all the hundreds in Congress (and thousands in Washington...) you understand economics far better than anyone else. Thank you for your continued service to the American People. Your wisdom is not falling on deaf ears.

David Carlson
http://www.davidcarlsonpolitics.com
Comment by cowboy
October 20, 2008 10:00 PM
The freedom of speech is gone. We have seen this with the people demanding the House and Congress apose the bailout and our pleas fell on deaf ears. While the President spouted He's going to do what's best for the American people no matter what we say, even if it's unconstitutional.
If the American people had any backbone, we would declare exempt on our taxes, and show the government what the second amendment was intended for when they came to collect. there has to be another shot heard arond the world. And in case you you think this is not warrented. I dare you to say it to the spirit of Samual Adams and the sons of liberty. I also recall this from Thomas Jefferson "The tree of liberty must be refreshed from time to time with the blood of patriots and tyrants."
Comment by Jacksonian
October 20, 2008 10:07 PM
This whole bail-out was another step towards the North- American Union that the New World Order Zionists, within and without, have us moving towards by bankrupting us and inevitably destroying our dollar. Don't be surprised when sometime next year the "Amero", our new tri-nation currency is foisted upon us. You will receive 10 cents on your former dollar. Just remember who did this to you and your savings.
Comment by sandy downs
October 20, 2008 11:15 PM
I have taken action. I am running for Sheriff to restore our civil rights that are being trampled on, both locally and nationally. I am calling as much attention to this insanity as I can. Next thought, you too can take action, we all can. Don't pay income tax this year. They can't jail all of America. If we don't do something, we will all be government slaves.
Comment by FC2
October 20, 2008 11:31 PM
After finding out that the money from the bailout has been FORCED on several financial institutions in exchange for preferred shares, as opposed to buying those "toxic assets", I have become increasingly fearful. Unfortunatly, as a service member I am required to have a checking account. The only way I can recieve my paycheck is through direct deposit. I sincerly hope that the situation is left to sort itself out from here on, instead of further intervention. But, hey, they got away with it once, right?
Comment by Fred Mitchell, DO
October 20, 2008 11:49 PM
God bless Dr. Ron Paul for his stout-hearted perseverance in our behalf, and Ron Muller for recognizing the evil plan of our enemies.
When the Soviet Russian Premiers promised they would bury us, they were serious, and they had a plan, which became the marching orders for world Socialism, which started becoming stronger (over the past 50 years) after Russia destroyed itself with its own bureaucracy.
Go figure. That is about the time I figured out that Socialism is bad for you. Why didn't everyone else get it? Now our bureaucracy is destroying our nation using the same tactics.
On Dr. Paul's endorsement, I am voting for Chuck Baldwin on November Fourth. And I have given up on Carl Levin after voting for him for 40 years. If Michigan were a close race, I would vote for McCain. I am disgusted with both parties (R and D).
Comment by Kurt
October 21, 2008 00:47 AM
I can't believe the jubilance on Wall Street today in light of the fact Lehman settles late tomorrow and the derivates are set to default. Are they drunk?
Comment by pheary watkins
October 21, 2008 02:00 AM
larryo: right on! first move repeal the 1978 supreme court ruling that created corporate political free speech and killed any chance for real democracy!
Comment by Joe Blanding
October 21, 2008 02:10 AM
Ron - I sure wish you were running on a 3rd party ticket this year!!

Joe Blanding
Fullerton, CA
Comment by Kay
October 21, 2008 02:19 AM
Our government is broken!! We can slow the leak down but we can't plug it until we fix the problems.

This is not a party issue but a governement issue that should concern every citizen... before it is too late. I almost fear that we can't stop the tide now.
Comment by Bobbie Jordan
October 21, 2008 02:36 AM
Dr. Paul,,since you are no longer in the running and have endorsed Chuck Baldwin.. thats where my vote will go...I am also NOT voteing for ANY Repb's or Demo's in my state,,only 3rd party candidates no matter who they are. If RON PAUL isnt going to be President.then let's send people of like mind to Washington for him to work with !.God Bless you Ron Paul and keep you safe.
Comment by JJ
October 21, 2008 04:56 AM
Dr Paul, Have you ever considered running for Prime Minister of Great Britain? We are being let down badly - not surprisingly by our Labour government but also by our supposedly Conservative opposition.
One more question - how do you stop yourself from going crazy with all the stupidity that's around?
All the very best to you!
Comment by Nate P.
October 21, 2008 07:20 AM
Dr. Paul has opened more eyes this year than he knows. Kudos Dr. Paul and thank you for opening the eyes of this once neo-con.
Comment by John Boettcher
October 21, 2008 09:02 AM
What can I do to help stop this madness?
Comment by William
October 21, 2008 09:41 AM
Close the Fed. and send the criminals to jail. If anyone of us did this we would be in jail.
If we printed paper money, we would be in jail. If our own police wont take the criminals to jail I guess its time for a citizens arrest.
Criminals belong in jail, better yet, labor camps. That will drive it home.
O yes words no one wants to speak. But if you have to live by all these laws then there you have it, so do the big money criminals.
It used to be money would represent a product but when I look now money only represents crime. Hmmmmmm kind of pathetic don’t you think?
Where to go from here?
Comment by King Edward II
October 21, 2008 09:51 AM
This is part of the conspircy plot as outlined in the Protocols of the meetings of the Learned elders of zion to subjugate all nation thru finance ie. the international bankers. If American's don't start screaming bloody murder say goodnite Irene. Who's going to bail me out when I can't pay my mortgage? That's right no one. Wake up lets live up to the words in our national anthem "Land of the free home of the brave."
Comment by Sean
October 21, 2008 10:16 AM
Sound advice, but I've lost all hope that Congress will ever follow it. So, what does the Declaration of Independence call us to do when government has become hopelessly dysfunctional, when it is destructive of Life, Liberty, and the pursuit of Happiness? "Altering" the government doesn't seem remotely possible, which leaves us with the other option, which can still be done more-or-less peacefully.
Comment by mittzu
October 21, 2008 01:09 PM
What good is knowledge if it's not put to use? WE THE PEOPLE ought to demand the dismantling of the fascist IRS and Federal Reserve or we'll have learned nothing and can expect only worse things to come.


The problem here is simple...you people of America are too lazy, stupid, and have not hit rock bottom YET... Think about it DUD...Americans have not even awoke yet..they are so brainwashed it is easy to see why the WORLD is laughing at all of you...For real...that is a great idea, but.....sorry to say it...cant be done..its like a drug addict. PEOPLE need to hit rock bottom-plain and simple. I really do not know what is next for America but I cant wait to see you all suffer more until you do hit the bottom..Good Luck but after all thats happened in the last 8 years sorry thats what the world is saying to all of you...you deserve all of this, cant wait to watch more and all of you suffer... Basicall you had your chance and you let them get away with it!!!! YOUR FAULT....get with it or suffer.
Comment by Cheryl Gonzalez
October 21, 2008 01:25 PM
How can "elected officials" vote for something when it
is SO clear that the Public is against it? I say VOTE THEM ALL OUT! The people need to create a NEW party that they can vet the candidates properly. I cannot believe we have to vote for Tweedle DEE or Tweedle DUM in this election! Their VP picks are NO better!

Unfortunately, the election has already been decided and if the wrong candidate does get in I believe we will see an assassination. Anyone who rocks the boat on the bankers would never get in or lose their live early if they did. Just watch folks...another need for an American crisis is coming, so that people LOOK to Big Brother (govt) to SAVE them. SHEEP!!

How many of YOU have watched this all the way thru?
http://www.zeitgeistmovie.com/main.htm
Comment by Jeff
October 21, 2008 02:24 PM
You may not be on the ballot but I am writing your name in. You have my vote.
Comment by charleydan
October 21, 2008 02:51 PM
To big to fail. I wonder what the deal is with JC Morgan. They now own 49% of the (discounted)trash and the Feds love to do business with them, and through them.

For me and my house. We will continue to pass out Libertarian literature and talk to all that we come into contact with. Letting our little light shine.

Inflation tax? Well, cars, houses and things of debt go down in price. Essentials as food, clothing and etc. go up in price. Talk about homeless disaster the Feds are most likely creating with this deinflation expenditures.

Like a kid with her fist on the cookie and can not get it out of the jar, because she refuses to let go. Congress will keep us bound in the jar, because they can not let go.
Comment by Martin
October 21, 2008 03:37 PM
May I suggest, all Citizens of the United States of America head on over to Washington D.C. on January 20, 2009 and put Ron Paul in the White House instead of one those 2 puppets that you have of choice of.
A concerned Canadian Citizen
Comment by Chris
October 21, 2008 05:44 PM
please run again for president in 2012. We need to get 3rd parties in the debates with the presidential candidates. Could the House propose such a law? Maybe you have I cannot recollect, but if so we need it. People need to stop voting for the establishment!!!!!!
Comment by goinghome
October 21, 2008 07:44 PM
Thanks Paul for all your honest and hard work for the people of this country.

I used to worry a lot about all these matters as late as even a few weeks ago. But I have now come to realize that worrying does no good at all and that there is nothing that can be done by the relatively small group of people in this country that realize and even care about what is wrong with our system. 95% of our citizens are hopelessly clueless and in fact WANT to be that way. Perhaps people really are like sheep and their destiny will always be predetermined by the few. So, I stopped worrying about things, in the end people usually get what they deserve. Our current group of citizens will continue to have the quality of their lives diminished because they choose to let it happen that way. About the best we few who do care can do is forget about worrying about the future and live out the rest of our lives the best that we can. A sad state to be in, but realistic.
Comment by Sheri
October 21, 2008 08:58 PM
We are doomed.
Comment by I. Workhard
October 21, 2008 09:05 PM
I am SOO depressed. Like Dr. Paul, I can see it coming, and haven't got a plan that passes muster on what to do about it for my family. The America of my childhood is gone.
Comment by R Khan
October 21, 2008 10:00 PM
Its a shame we in the U.K dont have a constitution written in stone to remind us what freedom is.
Dr Paul you are doing a great job. Just make sure you pass on your wisdom and knowledge to continue the fight.And I wonder if you are itching to say that civilisations built on Interest and debt are used to enslave mankind.
Comment by Michael Spivey
October 21, 2008 11:25 PM
Thanks Dr. Paul for your action and selfless (individual liberty) leadership.
Comment by neoconned
October 21, 2008 11:31 PM
Dr.Paul
This Revolution you have stoked the flames of is too big to fail. You are most definitely a light shining in the darkness. May your legacy live forever in the pages of history as one of the last true Statesmen of the Republic before its demise.
Comment by Joseph Freeman
October 22, 2008 06:20 AM
A Modest Proposal;

I have been pondering our economic predicament under the federal reserve swindle for many years and here is what I have concluded may actually save us from the ravages our nation is suffering.
America can replace our fiat currency system with money backed by a certain quantity of electricity such as 10amps, 100amps 1000amps or 50-500-5000volts etc. as is most workable and convenient. We all need abundant energy to actually raise our standards of living. We also need abundant money to thrive as free individuals in a healthy economy. Electricity is more useful then gold to a modern person and less likely to be hoarded and manipulated as gold was in the past when it was controlled by those who made the rules by owning it. Electricity as a form of money lends itself well to an increasing production of supply as new technologies would continually be stimulated by huge numbers of people understanding the simple fact that creating new and clean electricity generating sources is more valuable then mining gold because electricity would itself be a form of money. In addition, you cannot counterfeit electricity so vital transparency and honesty would be restored to our economy and drive out the poisonous inflation resulting from counterfeit fiat currency from the federal reserve. Abolishing usury becomes the right choice when we all realize it is unjust to play musical chairs through boom and bust cycles which corrupt our polity and crush our fellow countrymen to the point of despair, violence or suicide. Abundant electricity allows for a resurgence our industrial base and raises our standards of living especially the working middle class. Electric cars, high tech food production, advanced medicines,prefab eco-friendly housing, environmental restoration and a very long list of other desirable technologies all become affordable for a society founded on abundant energy creation brought on by using electricity as a basis for our monetary exchanges. A revolution in new energy technologies will create so much wealth for all people in all countries that implement the use of "electrical currency" that poverty and wars over scarce resources will become obsolete. It would also remove the manipulation of the moneychangers that rob and destroy nations by betting one currency against another for international profits sake as "electrical currency's" intrinsic value would be the same anywhere on the planet just as an ounce of gold is the same weight anywhere you use it. With today's digital computers accounting for energy flows has already been perfected by electric power companies and grids who would team up with banking engineers to design ways to generate, transport, exchange and store electricity in undreamed of new ways. all taxes would be abolished and instead government would earn its bread by creating energy and spending it directly into the economy thereby further increasing available wealth and resources to further raise living standards for all. IF you believe this concept is a good one please help by developing it further with your own ideas and please can someone who knows Ron Paul please bring it to his attention because he may be able to actually make it happen with the support of his many intelligent and noble supporters.
Thanks for listening. I look forward to any responses from people who understand the implications of what I am modestly proposing.
Comment by Nick Buza
October 22, 2008 11:35 AM
I understand that this system is currupt and might not be working, but Hamilton set up this kind of Government agency because he thought that wealth has to be built from debt. That the debt encourages spending and as long as you can pay the interest you will be on top. I just want to know what anyone would suppose to be a better system?
Comment by daniel becerra
October 22, 2008 12:18 PM
ron paul is the best person in the whole world i love ron paul
Comment by Martin
October 22, 2008 05:48 PM
I'm Canadian, and our Fed, Bank of Canada, is doing the same thing and unfortunately poeple are thinking that we have a better system in Canada since none of our Bank are in trouble. It's very simple why in canada there is no bank in trouble, it's because it's an oligopole...we have only 8 banks controling the entire market, It's a shame. We don't have any Ron Paul in Canada to do politic but we have some very interesting young economist who belives in free market and Austrian economic...if you have time go to Le Quebecois Libre.
Comment by john
October 22, 2008 06:42 PM
When it all comes tumbling down next year, won't you PLEASE lead us into the next chapter of history? When the bonds go, it all goes so it won't be long. Please think about what it will take to rebuild this land into something we can all live with again. Thanxs
Comment by H. Craig Bradley
October 22, 2008 07:21 PM
The Wall Street Journal reports that Argentina is going to nationalize private pensions to enable the government to pay its debts. In Argentina, private pensions are similar to 401(K) retirement plans.

Now, look into the future. What do you see? Possibly a even bigger Federal government with triple the level of today's debts. If so, they just took your IRA and 401 (K) assets.
Comment by JAMES B. SKELTON
October 22, 2008 08:34 PM
WE NEED MORE STATESMEN LIKE RON PAUL TO STAND UP FOR FREEDOM GOVERNMENT IS SLOWLY ERODING OUR FREEDOMS IN THE NAME OF PROTECTION WE NEED TO GET BACK TO THE BASICS OF LIFE THE BIBLE IS A BOOK TO LIVE BY AND THE CONSTITUTION IS THE LAW TO GOVERN BY IF WE ARE TO HAVE A GOVERNMENT OF THE PEOPLE FOR THE PEOPLE AND BY THE PEOPLE WE NEED POLITICAL ACTION TO FORCE THE GOVERNMENT TO LIVE WITHIN ITS MEANS IF TAXES WEREN'T TOO HIGH THEN WE WOULDN'T NEED TAX SHELTERS A LITTLE OF CREATIVE THINKING AND THE TENTH AMMENDMENT TO THE CONSTITUTION COULD SOLVE MANY OF TODAYS ECONOMIC PROBLEMS WE SHOULD REGULATE BUREAUCRATICS AND COMMUNISTS NOT THE FREE ENTERPRISE SYSTEM THE OATH OF OFFICE HAS BEEN WATERED DOWN AS SOLDIERS AND PATROTICS WE NEED TO PROTECT THE CONSTITUTION FROM ALL ENEMIES BOTH FOREIGN AND DOMESTIC AS AN EXAMPLE THE OKLAHOMA CITY BOMBING WAS AN EXAMPLE OF DOMESTIC TERROTISM WHEN I DEDICATED MY MIND TO GOD HE SHOWED ME SOLUTIONS TO MANY POLITICAL PROBLEMS I HAVE A HIGH IQ AND I KNOW I AM A POLITICAL GENUS IF GIVEN THE BENEFIT OF THE DOUBT I HAVE THE GIFT OF POETRY AND HAVE WRITTEN A BOOK OF POEMS HONORING GOD, COUNTRY, PATROTISM, MOTHERS, FATHERS ETC
ENTITLED BENNIE'S MEMORIES PUBLISHED BY PUBLISHAMERICA I KNOW I AM THE ANSWER TO MANY PEOPLE'S PRAYERS INCLUDING THE RELIOUS RIGHT I AM LOOKING FOR A WAY TO GET OFF DISABILITY AND BE PRODUCTIVE ONCE AGAIN AT 55 I AM TOO YOUNG TO RETIRE
PLEASE KEEP ME IN YOUR PRAYERS
Comment by Keith
October 22, 2008 08:37 PM
Thank you for your continued voice of reason in the madness. You provide a point of light in the wilderness for many of us.
Please keep up your good work for American.
Comment by John Johnson
October 22, 2008 09:31 PM
Why do we continue to let Wall St run like a Vegas Casino. Short selling, options, etc is not true investing. It a play on securities. Next, why are we leaving the foxes in the henhouse. The Treasury Dept is full of ex Wall St bankers and execs. The big money has the ear of government. JP Morgan runs the Bank of NY aka The Fed. No one is helping the little guys. I know the talk but I see the results. I fear the next revolution will be the French type. Not a pretty picture for America. But if the answer is "let them eat cake" then it will surely go that way. I hope things can get cleaned out before that time.
Comment by Kurt
October 22, 2008 10:20 PM
Mis-information and greed has lead us to the problem. I support the gold standard 100%. Make our dollars exchangable for something. That something could even be chocalote if it was really good chocaloate.
Comment by Raymond Muffler
October 22, 2008 11:09 PM
Rep. Paul,

Please work to abolish the Federal Reserve Bank immediately before it is too late.

Please work to repeal the Federal Reserve Banking Act of 1913.

Our nations currency belongs to the people, not a private Bank controlled by the elites, neocons and Rothchilds.
Comment by Dan
October 23, 2008 00:07 AM
I applaud your efforts, Dr. Paul. I wonder if you considered that you may be trying to pour new wine into an old wineskin with the D.C. crowd ?

Time for new structure, one that works from the bottom-up in network fashion as a free market should. Digital gold fits nicely in that framework. Real time gold was a goal all along my friend. The PEG, not gold, was the obstacle, The "great wedding feast" will be comprised of a new integration, in real time. This is a market endevour and cannot be done from the top-down. It is not something to legislate. Even the rules of power and the "shape" of power must change.

We've been supply driven long enough, going right back to when the apple was shoved in our faces to forge the fist hierarchical model in the economic arena.

Keep them distracted for us, however, while we wisely crawl around in the grass.
Comment by Sean
October 23, 2008 01:12 AM
I hope Dr. Ron Paul will somehow get his word out in a big way before this election. He only needs 40% of the vote to win because of the tight race. Remember Ross Perot got in the high 20's with a similar message of fiscal responsibility. It is profoundly more relevant now. Good luck representative Paul. You have a chance to save this country. To bad the controlled media will never allow a hero to emerge and threaten their power over this country and its citizens
Comment by Mark
October 23, 2008 09:06 AM
Keep supporting Ron Paul, spread the word about his campaign. To many americans are angry and upset about how the world is undergoing a mass depression. Everyone, and they want change but with change there has to be movement there has to be a motion to create change and no one wants to put forth the effort and make a change. Ron Paul and everyone who supports him is the motion, is the starting of change and we need it now! We dont need a Central Banking System, we dont need a Federal Income tax . Obama and McCain? Not getting my vote. Im in this all the way no matter how long it takes. Support the Venus Project!
Comment by Rob
October 23, 2008 09:09 AM
The bigger they are the harder they fail.
Comment by Gregg
October 23, 2008 10:11 AM
As Claire Wolfe writes in "101 Thinga to do until the revolution"

[America is at an awkward place, it's too late to do anything about it and too early to shoot the bastards]
Comment by Hunter
October 23, 2008 10:41 AM
You give us hope.

Thank You !
Comment by ed lakar
October 23, 2008 11:34 AM
Thank you Dr. Paul

Add a “hire American “ clause in the bail-out bill.
All the other politicians feed from the same corporate trough. The bankers/speculators are their largest contributors. Every large banking center has entire floors of foreign workers here on H1b visas making 60% of the US worker’s pay. The US economy would benefit with an increase of over 1 million jobs if the banks were to hire US workers. Also, less terrorism would result as the 911 hijackers , VA tech shooter, etc were here on H1B visas.
Any bail-out plan should include a hire US worker provision. I’ve been laid-off 5 times and replaced by a foreign worker . It is disturbing to see the politicians destroy our country.
Comment by Daniel Matthis
October 23, 2008 01:20 PM
Thank you Ron Paul. It is with great sadness that you were not officially placed on the ballet. Please make sure to inquire to the number of people who will write in your name like myself.
Comment by John Galt
October 23, 2008 01:27 PM
Those producing (wealth) for this country are slaves of washington, thanks for coming out and saying it.
Comment by Mike
October 23, 2008 02:57 PM
Thank you Dr Paul for having the intelligence, honor, and courage to say what needs to be said. Please keep it up, you're the only one in DC who ever says anything reasonable. God Bless!
Comment by David
October 23, 2008 05:05 PM
Thank you Ron Paul for speaking the truth. This American will never forget what you have done. I supported you wholeheartedly in the primary season. It was an honor to support you. The rest of the Washington gang are going to sell us down the drain, but at least there was one true patriot who tried to speak sense at the end.
Comment by Earl Ward
October 23, 2008 06:49 PM
Dr Paul You say that
We have Lost Our Way
that is too polite This site tells how
it all happened By
World Bankers---
http://www.fdrs.org/federal_reserve_notes_history.htmlhttp
Comment by Lee Bagwell
October 23, 2008 11:47 PM
At least once a week our local newspaper has an article about how our congressman has given govt. money to some good cause. I think he is using our money to buy votes! Little wonder that the incumbent has the advantage. I say don't reelect anyone.
Comment by Kevin
October 24, 2008 12:57 PM
Martha Stewart had nothing on these wall street bankers and she did time. We need to have many heads roll for what they did. It was at the least a breach of fiduciary duty.
Comment by Pedro Ojeda
October 25, 2008 02:43 PM
I need someone to help me understand something. My email is ojeda.p23@sbcglobal.net.
Thanks to Ron Paul, I am familiar with the three ways the government raises revenue: taxes, borrowing, and printing.
However, I need clarifying on just one(printing). I know how politicians raise taxes(the state/federal politicians vote on it, and governor signs it; or the governor can veto it; then the politicians can override the governors's veto. Okay.. And borrowing: we(government:local/state/federal) sell treasury bills/bonds to domestic or foreign governments and they(private sector/foreign governments) give us a check or credits or however it is done. Okay.. now when we(government) prints money, do we sell treasury instruments/bonds and then we print money to back up those bonds? Or do we just turn on the printing presses without having to sell bonds/treasury bills and pass around the money to pay the nation's bills? If you know how the whole printing of money works, can you please email me a brief description of how it works.. I am not 100% on this one.. thanks.. my email again is ojeda.p23@sbcglobal.net.

Thank you..

Pedro Ojeda
Comment by Tony
October 26, 2008 05:51 AM
Dr. Paul you are a rare breed of politician. Thank you and please keep up the fight for justice and our constitution, I am with you all the way.
Comment by Dan
October 27, 2008 11:24 AM
Sadly, it might take a revolutionary event in this country to bring us back to honest governing. I feel strangely like the matrix has me, but I don't know how to get out. Maybe I can become Amish...

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