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Ron Paul: Bailout Will Destroy Dollar, World Economy
Congressman slams Federal Reserve power monopoly on House floor as vote nears
Paul Joseph Watson
Prison Planet
Monday, September 29, 2008
As a vote nears on the $700 billion dollar plus bailout bill, Congressman Ron Paul took to the House floor this morning to warn that the passage of the legislation will destroy the dollar and the world economy.
Stating that the passage of the bailout bill would only make the problem worse, the Congressman from Texas said, “This has nothing to do with free market capitalism, this has to do with a managed economy, an inflationary system, corporatism, a special interest system, and this has nothing to do with the failure of our free markets and capitalism.”
Paul blamed the current crisis on a Federal Reserve power monopoly over the money and credit system, the ceaseless borrowing and printing of money, and dismissed the bill as nothing but more of the same.
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“Long term this is disastrous,” continued the Congressman, “we’ve already pumped in $700 billion dollars, here’s another $700 billion dollars - this is going to destroy the dollar - that’s what you should be concerned about - if you destroy the dollar you’re going to destroy a worldwide economy and that’s what we’re on the verge of doing.”
Paul said that the long term implications of the bailout would be a lot more serious than the problems currently being experienced by Wall Street.
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The Congressman called for more oversight and warned, “What we’re doing today is going to make things much worse.”
Paul expressed his frustration that free market economists who predicted the crisis were being ignored while the people who created the problem were being given the responsibility to offer a solution.
The Congressman was not afforded the time to read his full prepared remarks, but they were entered into the Congressional record and can be read at Paul’s Campaign For Liberty website.
Paul’s comments follow those of Congresswoman Marcy Kaptur, who slammed the bailout bill this past weekend as the work of criminal insiders who have shut down the normal legislative process to commit “high financial crimes” and defraud the American people, while Rep. Michael Burgess warned that “martial law” had been declared by Nancy Pelosi in order to ram the bill through.
Watch the clip.
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159 Responses to “Ron Paul: Bailout Will Destroy Dollar, World Economy”
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Pages: [16] 15 14 13 12 11 10 9 8 7 6 … 1 » Show All
November 11th, 2008 at 9:10 am
Wake up America!
check out my website - truthknowledge.com
October 15th, 2008 at 11:52 am
[...] Financial “bailout” bill [...]
October 10th, 2008 at 3:37 pm
This is gonna be short. But I’m a full on 100% liberal, hardcore liberal, but I think Ron Paul’s got this thing totally right. I totally support him on this issue, and that’s a hard thing for me to admit.
October 7th, 2008 at 8:50 am
Ron Paul is just a rare few that have spoken up for the American public against such a bailout plan.When you go to the voting booths this November,remember to write in “Ron Paul”,for president,and let your voice be heard,also have you heard any positive comments from our other candiates,which are only paid actors to the Global Elite and their agenda?
John McCain voted for the bill,so did Barack Obama do the same.
So how much more bailouts with the devaluation of the american dollar will we be able to take before we reach financial collapse??
October 5th, 2008 at 9:10 pm
The beginning of the end …….stay tuned …….more to come !!!!!!!!!!!!!
October 4th, 2008 at 6:52 am
“They want a fascist planet with the superwealthy ruling it all
Since we’re too independent, America must be led to fall
When our credit’s been exhausted to subdue the Middle East,
They’ll install our debtor nation in the body of The Beast
Traitor…Dare call it treason”
http://www.youtube.com/watch?v=uw5dP5gy2Vs
–CORNBREAD MAFIA
October 3rd, 2008 at 5:34 am
lol ron paul’s pissed!
thats the most pissed i ever seen him like that
October 2nd, 2008 at 10:06 pm
This is bullsh*t this is Bullsh*t!!! We need to march on washington and let them know we are the people and we will be heard!!! IF they pass the bill tomorrow we march on washington and take our country back!!
October 2nd, 2008 at 1:59 pm
In all this talk about Bailout, I have not heard or seen one word about the most powerful elitist money group, The Council On Foreign Relations, or CFR, led by David Rockefeller, its Chairman Emeritus, whose goal is to bring about a One-World Government, which includes the destruction of all existing free sovereign nations, including the USA. In fact, they have been working to bring about the merger of the USA with Mexico and Canada, under the tightest of media blackout, which Rockefeller has repeatedly bragged about.
Most Americans know nothing about all this, because they would be up in arms if they knew about such treason. And the CFR is highly involved in this election, with Sen John McCain a long-time member, posing as a patriotic American. The White House is loaded with these characters, including our Vice President Dick Cheney, and Secretary of State Condaleeza Rice, as was the President’s daddy, George H. Bush, who admitted to me personally at a rally
in Brockton, MA., that he had been a member. I do not know whether Obama is pert of it.
For the USA to ever recover, this Trojan Horse network must be exposed and removed from our midst permanently. Copies of their Annual Reports which contain their membership lists are available free at 212-434-9400, in New York City.