House Proceeding 06-03-09 on Jun 3rd, 2009 :: 0:37:40 to 0:42:25
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0:37:37 to 0:37:57( Edit History Discussion )

Ron Paul: controlled economy which is called socialism. and should be anathema to every single american. i yield back the balance of my time. the speaker pro tempore: mr. paul from texas. the gentleman is recognized for five minutes. mr. paul: thank you, mr. speaker. mr. speaker, in the last few

0:37:40 to 0:42:25( Edit History Discussion )
Speech By: Ron Paul

0:37:58 to 0:38:18( Edit History Discussion )

Ron Paul: years, in interviews on the economy, i've been asked what i would do if i were in charge. in answering the question, i usually start with explaining the errors we made that gave us the crisis. the interviewer frequently responded he wasn't interested in the cause of the problems, only what we should do now to correct it. this is a typical attitude in washington.

0:38:19 to 0:38:40( Edit History Discussion )

Ron Paul: but we cannot expect correct policies to be implemented if we don't understand the cause of the crisis. instead, we have pursued all the wrong policies. let me list a few mistakes we have made. we have failed to recognize the true cause of the crisis. instead, free markets and not enough regulations in central economic planning have been blamed.

0:38:41 to 0:39:02( Edit History Discussion )

Ron Paul: we continue to listen to and give too much credibility to the very people who caused the crisis a failed to predict the onset. a massive single-year debt increase of $2 trillion and a $9 trillion stimulus by congress and the federal reserve burges on mad -- verges on madness.

0:39:03 to 0:39:23( Edit History Discussion )

Ron Paul: this has taxpayers forced to buy worthless assets, not allowing the liquidation of bad debt, bailing out privileged banking, wall street and corporate elite we promote artificially low interest rate which is eliminating information that only the market can provide. steadily sacrificing economic and personal liberty is

0:39:24 to 0:39:45( Edit History Discussion )

Ron Paul: accepted as good policy. socializing american industry offers little hope that prosperity will soon return. inflating the money supply over 100% in less than a year is no way to restore confidence to a failing financialystem. expect huge price increases in the future. we have set the stage for

0:39:46 to 0:40:06( Edit History Discussion )

Ron Paul: further expanding the money supply many folds over through fractional reserve banking. we deliberately liquidate debt, especially government debt, by debasing the currency. we refuse to accept the fact that the debt cannot be paid and future obligations are incomprehensible with revenues crashing and unpredictable

0:40:07 to 0:40:28( Edit History Discussion )

Ron Paul: while expenditures are put on auto pilot with no new requests being denied. there's an attitude that the deficit and inflation can be dealt with later on, yet tomorrow will be here sooner than later. plans are being laid for a super regulator, even if it takes a worldwide government organization like the i.m.f. to

0:40:29 to 0:40:49( Edit History Discussion )

Ron Paul: impose it. promising the i.m.f. $100 billion when we can't take care of our own people's medical needs is obviously absurd. plans are laid to massively increase taxes, especially with the carbon tax. when tried in other countries it didn't work and had many unintended consequences.

0:40:50 to 0:41:11( Edit History Discussion )

Ron Paul: a national sales tax now being planned sends a message to consumers and investors. the depply flawed neoconservative policy of extending our military into the middle east and asia continues. there's no end in sight for secret prisons, illegal courts

0:41:12 to 0:41:34( Edit History Discussion )

Ron Paul: and a new system of preventive detention. we continue to protect the concepts of state secrets and presidential signing statements. we're enlarging bagr mambings prison in saff began stan and there's no sessation of the senseless war on dgs. as dick cheney said, we're in greater danger today than under the bush administration, not

0:41:35 to 0:41:56( Edit History Discussion )

Ron Paul: because we're not following the cheney-bush foreign policy of preventive war but because we are. the bush doctrine on wars still in place and the economic failures of the previous administration are being continued and expanded. the policies required to provide a solution to this catastrophic crisis we face are available.

0:41:57 to 0:42:18( Edit History Discussion )

Ron Paul: we must provide a precise meaning of libberity, along with free markets, voluntary contracts enforced by law and free minds. also required is the adoption of a common sense foreign policy that requires us to stay out of the internal affairs of other nations. pretending that politicians, central bankers, and regulators

0:42:19 to 0:42:25( Edit History Discussion )

Ron Paul: have the knowledge to centrally plan the economy and police the world only makes things worse.