A special Independence Day video to the loyal viewers of The Ron Paul Liberty Report! http://www.ronpaullibertyreport.com A special Independence Day video to the loyal viewers of The Ron Paul Liberty Report! http://www.ronpaullibertyreport.com
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Belief in Personal Choices
00:04:00
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| So we believe that individuals in a free society can make choices about their own personal habits. | |
| We believe they can eat what they want. | |
| Sometimes they're all this way. | |
| It's impossible to have a policeman on every corner to protect us, so therefore it is very important that we maintain the right to defend ourselves. | |
| Education really is number one on the list. | |
| We must educate ourselves and our youngsters and our people so that eventually we have influence in the media and in the government. | |
| I mean, whether you have Republicans or Democrats in office, government gets bigger, taxes go up, the deficit gets worse. | |
| We can elect even a man like Ronald Reagan, and the deficits got a lot worse. | |
| So millions of tax dollars are spent on this type of computer surveillance, a disgusting procedure for a professed free society. | |
| Whether it's welfare here at home or warfare overseas, there's a limit to what we can afford. | |
| Well, the inflation, that is the creation of new money and credit, is the vehicle whereby they finance this and they get away with it. | |
| You were one of the early advocates of term limits. | |
| You imposed them on yourself and you enjoyed life in the private sector. | |
| But even in the private sector, you kept fighting for what you believed. | |
| There's been a lot of talk about the Constitution in the last several weeks, the last several months. | |
| A lot of people holding up the Constitution. | |
| But I'd like them to read the Constitution, everybody here in this Congress, to read the Constitution about committing acts of war. | |
| There are some economists who in the past, such as Mises and Hayek as well as Friedman, have emphasized that inflation is a monetary phenomenon and not a CPI phenomenon. | |
| It's not a labor cost phenomenon. | |
| Good morning, Mr. Greenspan. | |
| I understand that you did not take my friendly advice last fall. | |
| I thought maybe you should look for other employment, but I see you kept your job. | |
| But I've come to the conclusion that I see no threat to our national security. | |
| There's no convincing evidence that Iraq is capable of threatening the security of this country and therefore very little reason, if any, to pursue a war. | |
| The special privileges granted to Fannie and Freddie have distorted the housing market by allowing them to attract capital that they could not attract under pure market conditions. | |
| Like all artificially created bubbles, the boom in housing prices cannot last forever. | |
| When housing prices fall, homeowners will experience difficulty as their equity is wiped out. | |
| Furthermore, the holders of the mortgage debt will also have a loss. | |
| These losses will be greater than they would have otherwise been had government policy not actively encouraged overinvesting in housing. | |
| And you go on to say because so many people will invest in housing, the damage will be catastrophic. | |
| Congressman, how could it be that you knew this on the banking committee in 2003 and nobody else did until after the collapse? | |
| Currently our national debt is going up over $700 billion and we're pursuing, once again, a policy of guns and butter and nobody seems to have much concern. | |
| Government cannot be the answer to every human ill. | |
| Continuing to view more government as the solution to problems will only make matters worse. | |
| When we went into Iran in 1953 and installed the Shah, yes, there was blowback. | |
| The reaction to that was the taking of our hostages. | |
| And that persists. | |
| And if we ignore that, we ignore that at our own risk, if we think that we can do what we want around the world and not incite hatred, then we have a problem. | |
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American Exceptionalism Risk
00:01:46
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| They don't come here to attack us because we're rich and we're free. | |
| They come and they attack us because we're over there. | |
| I mean, what would we think if other foreign countries were doing that to us? | |
| Do you think gold is money? | |
| No. | |
| It's not money. | |
| Even if it has been money for 6,000 years, somebody reversed that and eliminated that economic law. | |
| Well, it's an asset. | |
| I mean, it's the same. | |
| Would you say treasury bills are money? | |
| I don't think they're money either, but they're financial assets. | |
| Why do central banks hold it? | |
| Well, it's a form of reserves. | |
| Why don't they hold diamonds? | |
| Well, it's tradition, long-term tradition. | |
| Some people still think it's money. | |
| I yield back. | |
| My time is up. | |
| That is the reason I go after the spending. | |
| I propose in the first year, cut $1 trillion out of the budget in five departments. | |
| The founders didn't want a national police force, but they're very much involved in national policing activities. | |
| I mean, the various agencies from the FBI on down. | |
| But to militarize them and give them military weapons, it creates a culture. | |
| Here's a guy from the United States, born and raised here, goes nuts, and bombing somebody in the Middle East is in retaliation to this. | |
| Where does this come from? | |
| Explain that to me. | |
| I think there is a kind of psychosis produced by this sense of American exceptionalism. | |
| And I think when people buy into the idea of American exceptionalism, they become incapable of self-reflection. | |
| So I think you made a great point earlier. | |
| What if the last 25 years was just a great big mistake? | |
| It's difficult for people to face that. | |