Ron Paul Votes NO BAILOUT (Speech on the House Floor)
September 29, 2008, U.S. House of Representatives. Ron Paul [R-TX] votes NO on the bailout bill.
AYES 205
NOES 228
http://clerk.house.gov/evs/2008/roll674.xml
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TRANSCRIPT:
Madam Speaker, I rise in strong opposition to this bill. This is only going to make the problem that much worse. The problem came about because we spent too much; we borrowed too much, and we printed too much money; we inflated too much, and we overregulated. This is all that this bill is about is more of the same.
So you can’t solve the problem. We are looking at a symptom. We are looking at the collapsing of a market that was unstable. It was unstable because of the way it came about. It came about because of a monopoly control of money and credit by the Federal Reserve System, and that is a natural consequence of what happens when a Federal Reserve System creates too much credit.
Now, there have been a fair number of free market economists around who have predicted this would happen. Yet do we look to them for advice? No. We totally exclude them. We don’t listen to them. We don’t look at them. We look to the people who created the problem, and then we perpetuate the problem.
The most serious mistake that could be made here today is to blame free market capitalism for this problem. This has nothing to do with free market capitalism. This has to do with a managed economy, with an inflationary system, with corporatism, and with a special interest system. It has nothing to do with the failure of free markets and capitalism. Yet we’re resorting now, once again, to promoting more and more government.
Long term, this is disastrous because of everything we’re doing here and because of everything we’ve done for 6 months. We’ve already pumped in $700 billion. Here is another $700 billion. This is going to destroy the dollar. That’s what you should be concerned about. Yes, Wall Street is in trouble. There are a lot of problems, and if we don’t vote for this, there are going to be problems. Believe me: If you destroy the dollar, you’re going to destroy a worldwide economy, and that’s what we’re
on the verge of doing, and it is inevitable, if we continue this, that that’s what’s going to happen. It’s going to be a lot more serious than what we’re dealing with today.
We need to get our house in order. We need more oversight–that is a certainty–but we need oversight of the Federal Reserve System, of the Exchange Stabilization Fund and of the President’s Working Group on Financial Markets. Find out what they’re doing. How much have they been meddling in the market?
What we’re doing today is going to make things much worse.
[ http://www.c-spanarchives.org/congress/?q=node/77531&id=8899285 ]
Duration : 0:2:30
[youtube YBStWyQW6Rk]
July 9th, 2010 at 11:09 am
okok
okok
July 9th, 2010 at 11:09 am
False dichotomy. …
False dichotomy. It’s not obama bailout or no bailout, there more than one way to do a bailout.
Also ron paul wants even more deregulation so then the bands can do even more bullshit.
July 9th, 2010 at 11:09 am
fuck these bailout …
these bailout pigs/banker assholes
July 9th, 2010 at 11:09 am
Bailouts= Great Tax …
Bailouts= Great Tax payer swindle
July 9th, 2010 at 11:09 am
its all in the …
its all in the bible and prophesied it years ago its all leading to a one world government which is against God because the one world ruler will be the antichrist read revolation13:10 and revolations 14:9-10
July 9th, 2010 at 11:09 am
LOL I dont think …
LOL I dont think anyone believes in the labor theory of value anymore , mises destroyed that 80 years ago lol
July 9th, 2010 at 11:09 am
You must of been, …
You must of been, thats cool, I think that happens a lot on Youtube. CWI (Commenting while intoxicated)
July 9th, 2010 at 11:09 am
blazed
blazed
July 9th, 2010 at 11:09 am
I’m a atheist. Hmm …
I’m a atheist. Hmm I gave that comment a while ago, perhaps me was drunk
July 9th, 2010 at 11:09 am
jiggaboo904 tells …
jiggaboo904 tells me to theink rationally?!!!! Someone who belives in God, Jesus, Adam and eve, a talking snake?! Tells ME an atheast, to think rationally?! LOL LOL LOL. WAKE TEH UP U MUPPET!
July 9th, 2010 at 11:09 am
April 10, 2001
1 …
April 10, 2001
1 US$ = 1.11 Euro = 0.69 GBP = 0.23160 Silver (oz) = 0.003872 Gold (oz)
April 10, 2009
1 US$ = 0.75 Euro = 0.68 GBP = 0.08140 Silver (oz) = 0.001134 Gold (oz)
There’s a syncronized inflation on -all currencies-, that’s how public debt has been financed since 1971. The dollar only fares well against the British Pound (GBP), it’s a devaluated commodity compared with anything else worth buying. The question is not “is it going to devalue?”, but “will the dollar crash and when?”
July 9th, 2010 at 11:09 am
Surprisingly,the …
Surprisingly,the dollar has thus far held up relatively well.
Is that because other economies (like the UK) are also printing money?
So Maybe the dollar will not devalue?
July 9th, 2010 at 11:09 am
if only the other …
if only the other politicians would see things the way Ron Paul does we would not be in the mess we are in today
July 9th, 2010 at 11:09 am
You are a dumbass! …
You are a dumbass! Creationism doesnt = religion, it equates if you can think rationally. Anarchists dont need right wing faux libertarians like ron paul ruining our name.
July 9th, 2010 at 11:09 am
Are you seriously …
Are you seriously bringing religion into this? You’re a dumb ass.
July 9th, 2010 at 11:09 am
Ron Paul 2012
…
Ron Paul 2012
Let’s save what’s left of America after four years of Obamination.
July 9th, 2010 at 11:09 am
We need a balanced …
We need a balanced budget+term limits for Congress US Constitutional amendment.
Obama’s warmed over Keynesianism = EPIC FAIL.
July 9th, 2010 at 11:09 am
Why should our …
Why should our children pay our debts? What is wrong with a balanced budget? Why create money from thin air? Is the national deficit not deep enough?
July 9th, 2010 at 11:09 am
I hope people look …
I hope people look more into what Ron Paul is talking about. You have to admit a balanced budget makes sense. Right now we pay more on interest (interest alone) for the national debt than we spend on the war. Most Republicans and Democrats make promises, always spend more for partisan interests, and put the US deeper in debt
July 9th, 2010 at 11:09 am
CONGRESS, SENATE, …
CONGRESS, SENATE, PREZ! Please Listen to him!
July 9th, 2010 at 11:09 am
i love ron …
i love ron paul
July 9th, 2010 at 11:09 am
I love Ron Paul. …
I love Ron Paul. The problem is he is not “Hollywood”. The american people are stupid and want to elect a person whom is best looking and big screen. This will be the demise of this country.
July 9th, 2010 at 11:09 am
ron paul 2012…… …
ron paul 2012……nuff said americans
July 9th, 2010 at 11:09 am
Ron Paul isnt …
Ron Paul isnt exactly a genious, I hear he’s a creationist.
July 9th, 2010 at 11:09 am
Ron Paul has spoken.
Ron Paul has spoken.