Ron Paul speaks on economy, smaller government
Josh Rutenberg
Issue date: 2/13/09 Section: News
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"The system we have today has failed," he said.
Paul, a two-time presidential candidate, decided to become involved in politics after President Richard Nixon took the United States off the gold standard in 1971. Since then, United States currency has operated on the fiat system, where the value of the money is based solely on faith in government to back the value of the currency.
In 1974, Paul became convinced that the Austrian School of Economics, a system that encourages laissez-faire economic governance, was the appropriate way to run a national economy. Concerned with rapid U.S. inflation from the fiat system and a foreign policy he believed was building an empire at the expense of future generations, Paul ran for the U.S. House of Representatives in 1976 and won.
Recent developments in the U.S. economy have shifted Paul back to his original focus on restructuring American fiscal policy.
"The important thing to recognize is that [the old system] has ended," Paul said. "We are in an economic crisis, and we are embarking on a course that will destroy the dollar."
Paul claims that, for years, the United States depended on other countries, with the greatest U.S. export being the dollar. In addition, Paul asserts that the Constitution does not permit the current fiat system, backing only gold- and silver-based currency.
Paul said that his ideal role of government would be a small one that interferes less in the day-to-day lives of ordinary people.
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Viewing Comments 1 - 8 of 8
Sam
posted 2/12/09 @ 8:02 PM CST
>>>"Washington believes people are dumb, and that the government needs to take care of them," Paul said. "What we really need is a better understanding of how freedom works. (Continued…)
PaulFdot
posted 2/12/09 @ 9:22 PM CST
If we don't change our ways, this go-round will be a lot worse," Paul said. "So many in your age group know what's going on. It isn't difficult for us to reverse our trends, and I come to you with a sense of optimism. (Continued…)
Matt
posted 2/13/09 @ 7:55 AM CST
A "hands off approach" The Government causes all of these problems. The people must fix this not politicians. Lets give the government a few jobs they can do well not a million jobs they do poorly - they are over extended. (Continued…)
Ben Straub
posted 2/13/09 @ 10:44 AM CST
Deep down people know Ron Paul is correct.
Jeremy Cowan
posted 2/13/09 @ 1:39 PM CST
Ron Paul is the only real conservative we have in Congress right now, and the way he was ignored during the primaries is shameful. Right now we are suffering the effects of a fiat monetary system that has failed every place it was tried in history. (Continued…)
Jonlivefreeordie
posted 2/15/09 @ 8:50 AM CST
Ron Paul's special interest group is the American public, not himself, not his friends and not special interest groups. And very few people vote for this Patriot. (Continued…)
Jeff Paul
posted 2/18/09 @ 11:32 PM CST
I definitely agree with a lot of ideas Ron Paul has, even though I'd consider myself very liberal. For example, you could look at Obama and his pro-protectionism voting record. (Continued…)
MikeK
posted 2/23/09 @ 8:50 PM CST
Jeff, it's not a liberal thing or a conservative thing. Our country has gotten so caught up in the "gang mentality (d vs. r) that they refuse to listen to good ideas that come from the other side. (Continued…)
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