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Ron Paul: Printing Money Only Prolongs The Pain
Congressman identifies Federal Reserve as the real problem
Paul Joseph Watson
Prison Planet.com
Thursday, December 11, 2008
Amidst the hand-wringing of the automaker bailout debate, Ron Paul took the opportunity on the House floor yesterday to remind Congress that the real culprit behind the financial crisis is the Federal Reserve, and that allowing the Fed to continue to print money without audit will only prolong the pain.
“If you look at the grand problem we have it’s much much bigger,” said Paul.
“There were many who predicted that the climax would be exactly as we are witnessing,” said the Congressman before lamenting that no one seems willing to go back and discover how financial bubbles form and how they burst.
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“Instead we just carry on doing the same old thing….we spend more money, we run up more debt, we print more money, and we think that’s gonna solve the problem that was created by spending too much money, running up debt, printing too much money and here we are today,” stated the Congressman, adding that Congress was debating about “tinkering on the edges” while failing to deal with the big problem.
Paul said that the Fed’s creation of over $8 trillion dollars in obligations was outside the audit of Congress.
“They create this money and when the Fed chairman comes before our committee we ask, where did you dispose of this $2 trillion dollars that you’ve created recently, he says well it’s not your business, he doesn’t even have to tell us” exclaimed Paul, adding that the Federal Reserve was out of control.
“We’re dealing only with finding victims, we cannot get rid of the debt,” said Paul, adding that the cause of the bubbles was the result of monetary policy dictated by the Federal Reserve system.
Watch the clip below.
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72 Responses to “Ron Paul: Printing Money Only Prolongs The Pain”
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Pages: [8] 7 6 5 4 3 2 1 » Show All
December 12th, 2008 at 2:21 am
The time has come for us all to wake up. The revolution is about to happen. Just wait until about Feb and see the shit hit the fan. GO OUT NOW AND BUY FOOD FUEL AND GUNS AND AMMO. We need to rise up against these Evil creatures from Hell and take our country and the world back. GOD BLESS AMERICA
December 12th, 2008 at 1:36 am
~WOOOOW… A new video by USAINFOSCOUT is out and I have to say they are just better and better every time! This video is gripping with a very serious overtone, you wont want to miss this!
~A Symphony of a New World Order
http://www.youtube.com/user/USAINFOSCOUT
(Run time 4 minutes)