Ron Paul Quotes About Currency
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General welfare is a general condition - maybe sound currency is general welfare, maybe markets, maybe judicial system, maybe a national defense, but this is specific welfare. This justifies the whole welfare state - the military industrial complex, the welfare to foreigners, the welfare state that imprisons our people and impoverishes our people and gives us our recession.
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What's happening is there's transfer of wealth from the poor and the middle class to the wealthy. This comes about because of the monetary system that we have. When you inflate a currency or destroy a currency, the middle class gets wiped out, so the people who get to use the money first, which is created by the Federal Reserve System, benefit, so the money gravitates to the banks and to Wall Street. That's why you have more billionaires than ever before.
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The most sinister of all taxes is the inflation tax and it is the most regressive. It hits the poor and the middle class. When you destroy a currency by creating money out of thin air to pay the bills, the value of the dollar goes down, and people get hit with a higher cost of living. It's the middle class that's being wiped out. It is most evil of all taxes.
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Believe me, the next step is a currency crisis because there will be a rejection of the dollar, the rejection of the dollar is a big, big event, and then your personal liberties are going to be severely threatened.
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We're bankrupting our country and we have an empire that we're trying to defend which costs us $1 trillion a year. And the standard of living is going down today. It's going down and the middle class is hurting because of the monetary policy. When you destroy a currency, the middle class gets wiped out.
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The greatest threat facing America today is the disastrous fiscal policies of our own government, marked by shameless deficit spending and Federal Reserve currency devaluation. It is this one-two punch - Congress spending more than it can tax or borrow, and the Fed printing money to make up the difference - that threatens to impoverish us by further destroying the value of our dollars.
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We in the Congress have a moral and constitutional obligation to protect the value of the dollar and to understand why it is so important to the economy that a central bank not be given the unbelievable power of inflating a currency at will and pretending that it knows how to fine-tune an economy through this counterfeit system of money.
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The ultimate goal is not simply a superhighway, but an integrated North American Union--complete with a currency, a cross-national bureaucracy, and virtually borderless travel within the Union. Like the European Union, a North American Union would represent another step toward the abolition of national sovereignty altogether.
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Article 1 Section 8 of the Constitution says Congress has the ability to coin money and regulate the currency and doesn't say anything about gold or silver.
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