The Fed has one power that is unique to it alone: it enables the creation of money out of thin air. Sometimes it makes vast new amounts. Sometimes it makes lesser amounts. The money takes a variety of forms and enters the system in various ways. And the Fed does this through techniques such as open-market operations, changing reserve ratios, and manipulating interest rates, operations that all result in money creation.
Ron PaulThe American people are sick and tired of Washington and the people who have been in charge have been passing all these bills and I've been voting no all of the time and vote no on these appropriation bills.
Ron PaulAs an O.B. doctor of thirty years, and having delivered 4,000 babies, I can assure you life begins at conception.
Ron PaulIt would help the poor people who need jobs. Minimum wage is a mandate. We're against mandates so why should we have it? It would be very beneficial.
Ron PaulWhat's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.
Ron Paul