Carolina QuotesRon 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 Connected to the Carolinas
Source
Fox Business Network, October 16, 2007
- work
- 2006-2009
- year
- 2006
Cite this record
“Ron Paul: ...you have to develop the transition, and eventua…” Ron Paul. Carolina Quotes, record CQ-7C6C614817. https://carolinaquotes.com/quote/7c6c614817
More from Ron Paul
The do-good liberal who said we have to take care of everybody -- and they are well intentioned -- the more debt they run up to give to the poor, the poorer the people get because they cannot keep up.
It is said we go about the world waging war to promote peace, and yet the price paid is rarely weighed against the failed efforts to make the world a better place. Justifying conscription to promote the cause of liberty is one of the most bizarre notions ever conceived by man! Forced servitude, with the risk of death and serious injury as a price to live free, makes no sense. What right does anyone have to sacrifice the lives of others for some cause of questionable value? Even if well motivated it can’t justify using force on uninterested persons. It’s said that the 18 year old owes it to his country. Hogwash! It just as easily could be argued that a 50 year-old chickenhawk, who promotes war and places the danger on innocent young people, owes a heck of a lot more to the country than the 18 year-old being denied his liberty for a cause that has no justification.
We have depended on government for so much for so long that we as people have become less vigilant of our liberties. As long as the government provides largesse for the majority, the special interest lobbyists will succeed in continuing the redistribution of welfare programs that occupies most of Congress's legislative time.