“Ron Paul: …you have to develop the transition, and eventually the next step would be to prohibit the Fed from monetizing debt. This is the real evil. The politicians spend for war, welfare, and they don't have to do it responsibly.
Question: When you say monetize the debt, you mean they would only be able to spend the cash that they had on hand. They couldn't write any cheques for which they don't have in their account any money?
Ron Paul: That's right. And that is the key to it. Because when the Fed comes along, and there's starvation for capital and liquidity, and politicians are spending too much, the Fed can create 20, 30, 50 billion dollars in a day, just like they did trying to bail out this housing bubble crash. So they create money out of thin air endlessly, eventually that has to stop because that drives the value of the dollar down.”

— Ron Paul

Fox Business Network, October 16, 2007 http://www.youtube.com/watch?v=JXfDHXpP87o
2000s, 2006-2009

Adopted from Wikiquote. Last update June 3, 2021. History

Help us to complete the source, original and additional information

Do you have more details about the quote "Ron Paul: …you have to develop the transition, and eventually the next step would be to prohibit the Fed from monetizin…" by Ron Paul?

Ron Paul 148

American politician and physician 1935

Related quotes

“Question: What about a tax to fund the war in Afghanistan?
Ron Paul: Oh no… We don't need any of those wars… You don't raise taxes, that will only encourage them, what we need is to take all this money away from them, and say, bring the troops home…”

Ron Paul (1935) American politician and physician

Washington Journal, C-Span, December 3, 2009 http://www.youtube.com/watch?v=_sL0ivIil3w
2000s, 2006-2009

“Question: As a doctor, is it meaningful to you when somebody say that healthcare is a right, or that people have a right to good medical care?
Ron Paul: That's incorrect, because you don't have a right to the fruits of somebody else's labor. You don't have a right to a house, you don't have a right to a job, you don't have a right to medical care. You have a right to your life, you have your right to your liberty, you have a right to keep what your earn. And that's what produces prosperity. So you want equal justice. And this is not hard for me to argue, because if you really are compassionate and you care about people, the freer the society the more prosperous it is, and more likely that you are going to have medical care… When you turn it over to central economic planning, they're bound to make mistake. The bureaucrats and the special interests and the Halliburtons are gonna make the money. Whether it's war, or Katrina, these noncompetitive contracts, the bureaucrats make a lot of money and you end up with inefficiency.”

Ron Paul (1935) American politician and physician

All Things Considered, NPR, July 25, 2007 http://www.npr.org/templates/story/story.php?storyId=12224561
2000s, 2006-2009

“Chris Matthews: Let me ask you this: the '64 civil rights bill. Do you think a [em]ployer, a guy runs his shop down in Texas has a right to say, "If you're black, you don't come in my store". That was the libertarian right before '64. Was it the balanced society?
Ron Paul: I believe that property rights should be protected. Your right to be on TV is protected by property rights because somebody owns that station. I can't walk into your station. So right of freedom of speech is protected by property. The right of your church is protected by property. So people should honor and protect it. This gimmick, Chris, it's off the wall when you say I'm for property rights and states' rights, therefore I'm a racist. I mean that's just outlandish. Wait, Chris. Wait, Chris. People who say that if the law was there and you could do that, who's going to do it? What idiot would do that?
Chris Matthews: Everybody in the South. I saw these signs driving through the South in college. Of course they did it. You remember them doing it.
Ron Paul: Yeah, I but also know that the Jim Crow laws were illegal and we got rid of them under that same law, and that's all good. Government —
Chris Matthews: But you would've voted against that law.
Ron Paul: Pardon me?
Chris Matthews: You would've voted against that law. You wouldn't have voted for the '64 civil rights bill.
Ron Paul: Yes, but not in — I wouldn’t vote against getting rid of the Jim Crow laws.
Chris Matthews: But you would have voted for the — you know you — oh, come on. Honestly, Congressman, you were not for the '64 civil rights bill.
Ron Paul: Because — because of the property rights element, not because it got rid of the Jim Crow law.”

Ron Paul (1935) American politician and physician

2011

“Neil Cavuto: …your campaign has received a $500 campaign donation from a white supremacist in West Palm Beach. And your campaign had indicated you have no intention to return it. What are you going to do with that?
Ron Paul: It is probably already spent. Why give it back to him and use it for bad purposes?
Neil Cavuto: …this Don Black who made the donation, and who ran a site called "Stormfront, White Pride Worldwide," now that you know it, now that you're familiar after the fact, you still would not return it?
Ron Paul: Well, if I spent his money and I took the money that maybe you might have sent to me and donate it back to him, that does not make any sense to me. Why should I give him money to promote his cause?
Neil Cavuto: …Hillary Clinton has had to do this, a number of other candidates have had to do this. Do you think that just is a bad practice?
Ron Paul: I think it is pandering. I think it is playing the political correctness… What about the people who get donations, want to get special interests from the military industrial complex? They put in — they raise, bundle their money, and send millions of dollars in there. And they want to rob the taxpayers. That is the real evil … that buys influence in government. And this is, to me, the corruption that should be corrected… you are missing the whole boat — the whole boat, because it is the immorality of government, it's the special interests in government, it's fighting illegal wars…
Neil Cavuto: All right.
Ron Paul: …and financing, and taxing the people, destroying the people through inflation, and undermining this prosperity of the country.”

Ron Paul (1935) American politician and physician

Your World with Neil Cavuto, FOX News, December 19, 2007 http://www.foxnews.com/story/0,2933,317536,00.html http://www.youtube.com/watch?v=CrRtZaG63o8
2000s, 2006-2009

“Neil Cavuto: Yeah but, you can't, Congressman, we've got a pretty good economy going here, right? We've got productivity soaring. We've got retail sales that are strong. We've got corporate earnings that for, what, the 19th quarter, are up double digit? We've got a market chasing highs, I mean, this isn't happening in a vacuum, right?
Ron Paul: Yeah, that's nice, but when you have to borrow, you know… My personal finances would be very good if I borrowed a million dollars every month. But, someday, the bills will become due. And the bills will come due in this country, and then we'll have to pay for it. We can't afford this war, and we can't afford the entitlement system.
Neil Cavuto: Look, Congressman, did you say this 10 years ago, when the numbers were similarly strong…
Ron Paul: Go back and check.
Neil Cavuto: …and we were still borrowing a good deal then.
Ron Paul: That's right, that means the dollar bubble is much bigger than ever.
Neil Cavuto: So what's gonna happen?
Ron Paul: We've had the NASDAQ bubble collapse already. We have the housing bubble in the middle of a collapse, so the dollar bubble will collapse as well. We have to live within our means. You can't print money out of the blue, and think you can print your money into prosperity.”

Ron Paul (1935) American politician and physician

Your World with Neil Cavuto, FOX News, May 15, 2007 http://www.newshounds.us/2007/05/16/rep_ron_paul_tells_fox_newsrepublicans_the_truth_they_dont_like_hearing_it.php http://www.youtube.com/watch?v=MU2RK0TNbXk
2000s, 2006-2009

“We don't have a trillion-dollar debt because we haven't taxed enough; we have a trillion-dollar debt because we spend too much.”

Ronald Reagan (1911–2004) American politician, 40th president of the United States (in office from 1981 to 1989)

Weekly Compilation of Presidential Documents, 1982
1980s, First term of office (1981–1985)

“Question: You wanna gut that safety net…
Ron Paul: But the safety net doesn't work.
Question: Tell me why it doesn't work.
Ron Paul: It does work for some people, but overall it ultimately fails, because you spend more money than you have, and then you borrow to the hilt. Now we have to borrow $800 billion a year just to keep the safety net going. It's going to collapse when the dollar collapses, you can't even fight the war without this borrowing. And when the dollar collapses, you can't take care of the elderly of today. They're losing ground. Their cost of living is going up about 10%, even though the government denies it, we give them a 2% cost of living increase.
Question: So do you think the gold standard would fix that?
Ron Paul: The gold standard would keep you from printing money and destroying the middle class. Every country where you have runaway inflation, there's no middle class. Mexico, there's no middle class, you have a huge poor class, and a lot of wealthy people. Today we have a growing poor class, and we have more billionaires than ever before. So we're moving into third world status…
Question: Who is the safety net that you're speaking of, who does benefit from all those programs and all those agencies?
Ron Paul: Everybody on a short term benefits for a time. If you build a tenement house by the government, for about 15 or 20 years somebody might live there, but you don't measure who paid for it: somebody lost their job down the road, somebody had inflation, somebody else suffered. But then the tenement house falls down after about 20 years because it's not privately owned, so everybody eventually suffers. But the immediate victims aren't identifiable, because you don't know who lost the job, and who had the inflation, the victims are invisible. The few people who benefit, who get some help from government, everyone sees, "oh! look what we did!", but they never say instead of what, what did we lose. And unless you ask that question, we'll go into bankruptcy, we're in the early stages of it, the dollar is going down, our standard of living is going down, and we're hurting the very people that so many people wanna help, especially the liberals…”

Ron Paul (1935) American politician and physician

Interview by Mac McKoy on KWQW, December 17, 2007 http://ca.youtube.com/watch?v=x3lxo9WIR6w
2000s, 2006-2009

“"Don't forget, there's a Depression coming."
"Who says?"
"I say; everybody says!"
"Why would we have a Depression?"
"Because we don't have any discipline! We're drowning in debt! We don't even own our own country any more!"”

John Updike book Rabbit at Rest

[Harry, to Nelson]
Rabbit at Rest (1990)

“The only reason you don't go on holiday, is 'cause you have to spend money.”

Karl Pilkington (1972) English television personality, social commentator, actor, author and former radio producer

Xfm 21 June 2003
On Stephen Merchant

“The key question to keep asking is, Are you spending your time on the right things? Because time is all you have.”

Randy Pausch book The Last Lecture

The Last Lecture (2008)

Help us to complete the source, original and additional information

Ron Paul 148

Related quotes

Related topics