From the Great Depression, to the stagflation of the seventies, to the current economic crisis caused by the housing bubble, every economic downturn suffered by this country over the past century can be traced to Federal Reserve policy. The Fed has followed a consistent policy of flooding the economy with easy money, leading to a misallocation of resources and an artificial 'boom' followed by a recession or depression when the Fed-created bubble bursts.
Ron PaulThe Founders warned that a free society depends on a virtuous and moral people. The current crisis reflects that their concerns were justified.
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 PaulThe 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 PaulItโs amazing that people donโt understand that the more the market is involved and the smaller the government, the lower the price, the better the distribution, and the higher the quality.
Ron PaulI'm not against the FBI investigation in doing a proper role, but I'm against the FBI spying on people like Martin Luther King. I'm against the CIA fighting secret wars and overthrowing government.
Ron PaulWe have a lot of goodness in this country. And we should promote it, but never through the barrel of a gun. We should do it by setting good standards, motivating people and have them want to emulate us. But you can't enforce our goodness, like the neocons preach, with an armed force. It doesn't work.
Ron Paul