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Dec. 20, 2024 - Ron Paul Liberty Report
25:38
Dangerous Waiting Game: “Debt Debate” With Two Interventionist Parties

It’s not a good look when Republicans and Democrats “negotiate” together and present an unreadable 1,500 page bill. It’s also not a good look for a follow-up Republican bill that seeks to raise the debt ceiling again for two years. We’re going bankrupt thanks to $36 trillion in debt. The American people voted to go in the other direction. Why doesn’t Washington ever get it?

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Gold As Protection 00:04:54
Hello, everybody, and thank you for tuning in to the Liberty Report.
With us today, we have Chris Rossini, the co-host.
Chris, welcome to the program.
Great to be with you, Dr. Paul.
Good.
And we're going to be talking about, you know, I think they're working on a budget in Washington, and we have the perfect answer, but, you know, we'll give the perfect answer.
But I'm predicting that not too many people will do it because ours would be so radical that people say, what?
You want to follow the Constitution and everything that they do and the budget would be balanced.
So we still might mention things like that because someday they might have to redo the whole thing and they might start by just paying more attention to the advice of the founders.
But anyway, we're going to make an effort and we will talk about that.
But in the meantime, you know, the markets are interesting.
You know, Dial Jones and other stocks have been going down significantly for the last six, eight, 10 days.
And gold has, you know, had some rocky periods in there, but it's holding its own.
It's up nicely today.
And what that makes me think of is some of the advice from Birch Gold Group, because what they have encouraged is a gold IRA.
And that is take your IRA funds and 41ks and take that money and without a tax penalty, move it over to an IRA account, a gold IRA, because you can't put that in a regular one.
And that has been designed for people that know that maybe the stock market is overpriced and maybe that system and the dollar system is vulnerable and that there is a way you can at least make an attempt to protect against what's coming and what we're dealing with right now.
And as we speak, they're struggling to try to pass a budget because, you know, we're bankrupt and people are getting a little bit worried about just printing more money.
And that's why the dollar goes down.
And this is why people get nervous.
And eventually, you know, the excesses of what the Fed does eventually has to be corrected.
And that's the breaking of the bubble, the bursting of the bubble.
And then, you know, they have to liquidate some of these bad mistakes.
So we're in the process.
But the point is, is some of the advice, especially dealing with this issue from Birch Gold, is really very appropriate because the concept that's been going on with Birch, not just a month or two, but for a good while now, that it'd be good to have a IRA where you could put bullion gold.
So that to me is important.
Now, if one wants to get more information on this, there's a number on the screen.
So if you take a look at that number and look at Ron and say, what is the number?
989898.
And that'll connect you to somebody that will send you some material to follow up on this conversation on what you can do to maybe transfer some of the funds like that.
So if you do that, Ron, 989898, and the information will be sent to you.
There will not be a charge with this.
So it's one thing that is well known that gold is not just something that they talked about in the last six months or the Republicans did it.
It's been 6,000 years since they first noticed that there's something special about gold.
And it didn't start the first time in 6,000 years ago, but it was known to be precious.
And eventually it worked into the gold system.
And we, our country, has had a backing to the currency up until 1971.
There was a loose attachment, but at least there was.
And that is why.
There's been a proven record about gold and how it protects against the excesses of government.
So, Chris, I am sure that you don't have any bones to pick on that, but what do you have for today?
Yes.
Yeah.
And before we get to today's topic, just as a special addendum, there is Birch is offering, it's called the Ultimate Guide for Gold in the Trump Era.
And there's a forward by Donald Trump Jr.
So for a limited time, if you text Ron to 9898-98, not only will you get the information from Birch, but you will also get that ultimate guide for gold in the Trump era.
Today's topic, yeah, Dr. Paul, Washington is Washington.
Limiting the Debt 00:14:26
They negotiated those two parties, and guess what they come up with?
A $1,500, $1,500-page bill.
That's what those two parties negotiated.
Thanks a lot.
But the big topic that caught my attention is not only is that bad, but then there's a Republican bill on, you know, that's much shorter, 116 pages.
That's great.
But, you know, they want to raise the debt ceiling.
And it's not a good look.
You campaigned correctly that we are bankrupt, going bankrupt.
Absolutely.
We're in dire situation.
It's not a good look to say, push out the debt ceiling for two years.
We don't want more debt.
And I read all the excuses.
Of course, there's excuses.
There has been excuses all the way up to $36 trillion.
Excuses along the way.
So of course, there's excuses to go higher to maybe $40, $50 trillion, because that's going to make America great again.
And, you know, it's the wrong direction.
If we're going to go in the right direction, we have to go down.
And whatever you have to do to do that, down, less debt.
Get us out of this situation.
It's kind of like, you know, so many people, myself included, voted for Trump to keep us out of war because we believe that he would do that.
Well, you know, there are so many enemies out there that they are going to make situations look like you have to go to war.
So in those situations, Trump has to not go to war.
That's what we want.
You know, we want less debt.
We want no war.
And if we're just going to excuse our way forward, then we're going to get more debt and more war.
So that's, you know, the bad look.
And he's not even in office yet.
And I'm not condemning the whole thing.
It's just we need to go in the right direction.
And so far, we're not seeing that.
In the midst of this crisis that we have of our bankruptcy that's continuing on, and we've been working with that for a long time.
But there was another subject they talked a whole lot about because I think it was the New York Times came clean to a degree.
It said, you know, now we know there was a lot to do about the health and the ability of Biden, you know, for a good while.
And it was systematically, you know, hidden from the people.
And I thought, well, you know, that's good that we're getting this information, but it's almost like let's talk about that and let's put a light on that and concentrate on that.
Maybe we won't have to face the music, you know, of how serious this debt thing is.
You know, and it's been there as long as I can remember.
The first time I was elected to Congress was 1976.
And I can't remember, there weren't very many times when they didn't have to go through this.
It was common.
And every once in a while, they closed down the government, which is a total farce.
I don't, I, you know, people suggest, let's not have a debt limit.
Well, they really don't.
They don't have it, but they pretend to have it.
And they now they're going through this process of who's doing the most the best effort to protect the people from all this spending.
So the ones that it was, I had somebody tell me a long time ago that I say, how come you're voting against the debt limit?
And he said, well, well, fiscal's conservative, but he voted for every bit of spending, but voted against increasing the debt limit.
That's where he was going to get his credentials.
So it's a game that they play.
And unfortunately, you know, people buy into it, but there's a lot.
I think even though I've watched this and I've seen it and they were locked on, they shut down a government, which was a farce.
They would just shut down the unnecessary people working in government.
Well, shut down the whole thing.
You know, nothing happened when they shut down the government.
Besides, they don't know exactly what's going on.
I think there's so many things on autopilot.
The whole issue of the monetary issue, that's autopilot.
You know, things go up and down and the interest the government pays and everything.
So this is some of this stuff is a distraction and it's a political game they play.
Who's going to get blamed for this horrendous problem that we have?
And it doesn't do it.
Because if they were serious, the talk now would be really some, you know, at the end of a session like we're having now, it would be serious things about what are we going to do?
And Chris, you've mentioned it already about the real mess in foreign policy, but they're not talking about a non-interventionist foreign policy.
I mean, there's some there that would go along with what we're saying, but those are the issues that count.
But there's so much money in the machine and the Fed can do so much that it's sort of automatic.
So I don't really think that, you know, the lockdown, I think it's more of a political stunt than a sincere effort to do anything.
And today, now they're talking as we speak, they're talking about, well, let's break it up and have people vote for sections of it.
I think that's a reasonable idea.
You know, if you want to vote just farm aid, you can do that and do it and see what happens.
But for today, they're sort of giving up.
And I think a lot of them, even the Republicans, can argue the case, we don't need to raise the debt limit.
That limits us on what we can do.
And who's going to get blamed?
If they want us, the Republicans don't want to raise the debt limit right now because they'll be blamed for it.
And they'd like to make Trump vote to raise the limit later on when there'd be more pressure.
So it's a political game.
Who's going to get blamed for it?
And I think they talk about that and they get pretty upset about it all, but they don't talk about, you know, in a serious manner.
If you want to solve the problem, if you did one thing, you could solve all this debt problem.
Just remove the ability of the Federal Reserve to monetize debt.
There would be no inflation because inflation is monetizing debt.
The more the people want the government to spend, the more the government spends, the more the debt goes up, and the more that they just shovel that over to the Fed.
And those aren't done by appropriations.
You know, the appropriations, the Fed can do a lot without the direct appropriation.
Same way in foreign policy.
How many times have we had serious talk in the last 30 or 40 years about should we go into Libya?
Should we go into Vietnam?
Should we go to war in Korea?
It's on and on.
And then Syria, it's sort of on autopaya, and nobody is going to not write the checks.
And it's time they quit writing these checks because that's what the real problem is.
And I consider it illegal, immoral, and unconstitutional, but they're not into that type of debate at the moment.
Chris?
No, they're not, Dr. Paul.
I'll go on to our next topic, and that is Elon Musk.
The left is, here they go again.
You know, they have a new person to hate along with Trump, and they start making stuff up again.
Everyone, keep in mind that the left is bursting with billionaires.
It seems like there are a billion of them on the left.
But, you know, Elon Musk is obviously a billionaire.
He voiced opposition to a 1500-page bill, disgusting bill.
And people on X naturally were against it too.
And all of a sudden, he's President Musk.
He's running the government because of this, because of opposition to a terrible, terrible bill that hurts all of us.
And here they come out, you know, oh, he runs the government.
We're in an oligarchy.
You know, they're doing the whole thing.
We're being run by billionaires.
Well, let's go back a few years.
I remember turning on, I didn't turn on the TV, but I know it was on TV.
And it was Bill Gates constantly telling us on what's coming next.
You're going to take these jabs.
We're going to have these cards.
You're going to show us that you took the jabs.
Was it an oligarchy then when a billionaire was doing all that stuff?
And it all turned out to be wrong.
And how about the big businesses that were all open?
What do you think?
They're not poor people.
They're not the working class.
The working class were shut down.
Their businesses were closed.
And this was a big leftist thing that was going on.
The jabs with the big pharma making billions and big retail making all the money.
No oligarchy then.
I didn't hear one person complaining about billionaires.
So, you know, he's getting a bad rap for opposing a bill.
And if he really is the president, he supported the second bill.
It was 116 pages.
He came out in support of it.
Yet it was rejected by 38 Republicans.
So is he president Musk or not?
Or is it just here and there he runs the government?
Obviously, it's all nonsense, just like the nonsense that they peddled against Trump.
So, you know, we'll come to his defense because he's on the right side of being against a terrible continuing resolution.
You know, this is pretty important when you talk about the people who have the clout, maybe has the money and gets political, and they happen to lean toward a more sensible policy about all that's happened here in the last five years has been not a philosophic argument.
It's how do we build up more hate toward Trump?
We'll destroy his reputation.
We'll arrest him and charge him with all these crimes and we'll impeach him.
And none of it worked.
But and you say that Elon Musk now, they're saying he might be like the president.
He has too much power.
You know, when you think about the deep state, we talked about the deep state and that we still do.
And most of the time, we never know the names.
In this case, it's more in the open.
You know, who's really influencing the president?
And Musk does not have an appointment To an official government, so I think they always have people like that.
But I still go back to the principles that we should be following that we ignore because we shouldn't have to struggle on what they can do and can't do because everybody takes the same oath of office.
And the size of government, it's an epidemic.
It's like a drug addiction.
You can't do anything because there's withdrawal symptoms.
So I'm all for what they're trying to do with this Department for Efficiency of Government.
But I'm very hesitant to say, we are here.
We are making it.
We'll clean it up this week and next month.
Things will be all right and smooth sailing from now on.
Because the people, not so much they hate Trump for everything he's ever done, but they trade, they hate Trump because he's been successful.
He's unconventional.
He doesn't seem to listen to the deep sea.
So that's where the problem is.
And that to me is sort of sad.
But as long as there is a controversy, and right now the controversy is, is there going to be a limit to the spending?
And the answer is yes.
And they're starting to sense this.
And now they say, well, it might be just too hard, you know, to raise these debt limits because the people know what we're doing.
And since they do ignore it, and I think behind the scenes, the stuff that's on autopilot keeps going.
So if we need to let them do that, then they're going to have to eventually say something like they're trying to say now.
Enough is enough.
But I believe so strongly in market forces that the market will take care of this.
And, you know, we had the other day that the Fed was lowering interest rates, and I was looking at a chart.
All the interest rates in the market were going up.
They don't have control.
They don't know what interest rates they should be.
So it's all a pretend on what they do.
But the amount of debt and the amount of interference and the amount of monetary inflation is crucial because eventually the people will turn against it.
I see our job, Chris, as mainly saying when people are finally complaining about high prices and they want the government to do something, we have to explain to them they're already doing the wrong thing.
And that is spending money and running up the debt.
And they've been doing it for years.
And it's the people that still want, you know, they still want their checks coming in the mail.
So this is a reason why it is very difficult.
But the reason I still applaud the people that are trying, it calls attention to it.
And, you know, and I still think in a small manner, the discovery of the COVID lockdown, which was so evil and so destructive to the doctor-patient relationship and to good medicine.
And there were changes.
And the more we get this information out, I see the solution eventually being educational and philosophic and understanding about what liberty is all about and what monetary policy is all about.
And that's where the solution.
But in the meantime, the politicians are going to deal with what they're doing today.
And who knows how much what's going to happen by the end of the day?
They may come up with a pretty good solution.
And then maybe the stock market will recover everything it lost in the last week.
Politicians Reacting, 00:06:10
But we don't know that.
But markets have to be contented with that because they are very powerful and governments just sort of react to it with very little knowledge.
Chris.
Excellent, Dr. Paul.
I will finish up with my closing thought.
In our country, the way that we're brought up here, the great presidents, largely, not 100%, but the ones that we're told are great are usually the ones that did the greatest damage to our country.
And you just have to look at where we are.
All the presidents that came before got us right here, and they're called great.
You know, by their fruits, you shall know them.
We're eating rotten fruit right now.
Okay.
So what we're told was great, not so.
So Trump has a choice.
You know, he has four years ahead of him.
Does he want to be great like that in the propaganda sense, or does he want to really be great?
And that's the choice that's in front of him.
And he has to do the right thing.
And that means being disliked.
And that's just how it is.
If you're going to do the right thing, you're going to be disliked.
And not just by the left.
They make up stories constantly and hate him in their own fantasy imagination.
I mean, he has to really be disliked by Washington for the right reasons.
And I don't mean to put him on the spot, but that's what Ron Paul did.
He was disliked for the right reasons.
He would go in.
And if you're going in the wrong direction against the Constitution, he will vote against it.
And it was 400 to 1, 400 to 1, 400 to 1 over and over again because he was disliked, not as a person, but as a congressman for doing the right thing.
He would not bend.
So that's what Donald Trump should shoot for, to be disliked in that way.
We have to get out of debt and get out of war.
And that's it.
Everything else is commentary.
Now, he's either going to do that or he's not.
And if he doesn't, then America will not be great again.
And it was all just the big, you know, show.
Now, I believe his heart is in the right place, but he really, you know, he can't be loved.
If he desires to be loved, he has to get us out of this.
And, you know, the two don't go together.
So I wish him the best, but, you know, he has the hard road ahead of him in order to be truly great.
You know, the chance of the government closing down, shut down over the weekend, I guess it's 50-50.
And I think people would like to ignore it.
And I think Republicans even hint, why do we even have this limitation?
Because they like spending too, especially in the militarism that we practice.
But I want to, in a way, reassure some people on the short run, because the odds of them doing something this weekend that's going to say, oh, we're coming back.
So your check for Social Security is going to go down.
Politically, you know, one party says, the Republicans will get rid of your Social Security.
But actually, they should be worried about it.
But it's not going to be next week.
The lockdowns are annoying of some people.
But what they should worry about is the destruction of the value of the currency and the dollar.
So the checks will keep coming.
The checks might even go up for all the welfare activity, but the checks will go up, but it will buy less and the prices go up and it's a tax.
People don't realize when they get upset, they'll find excuses just so they don't want to blame even the people who are demanding the spending or supporting wars that they think are wonderful.
They go along with it and they say, What are we going to do?
And they go along with it because they don't understand that they're a participant in it.
And that's it.
When prices are higher than what the people want and they're annoyed and their standard of living is going down, which is true.
And even after this, even maybe for a while, you won't see any checks going up or you won't see the nominal going up, but the value is going to go down.
That is going to get much worse because the people that get punished the most, they're the individuals who have to pay the tax because you say, we're going to tax the people for all this spending.
Well, you can't.
They can't do that.
If they went out and tax it, there would be nothing left of the economy and it'd be a civil war.
So they don't do that.
What they do is they devalue the currency of the currency.
And they take a dollar and make it worth 50 cents.
And therefore, they can pay off debt with this.
So they devalue the currency.
And that's where the problem is.
And who gets hurt the most?
The poor people in the middle class.
They pay the inflation tax.
And that's where the big problem is.
And that's going to get worse.
There's going to be more contests between the rich and the poor.
But I try to reassure people that the problem is a mess.
It's very, very dangerous.
But the solution is a wonderful and it's an easy solution to solve.
And that is just give the people their freedom.
Like the founders made a sincere effort to do.
And within the early years, we had it.
We had a maximum amount of freedom and the country thrived.
Right now, we need a renewal in the belief and the confidence in liberty.
And let's have our government people do their best to restore that.
But everybody has a responsibility to contribute to that desire for liberty and not worry about where does my next welfare check come from?
And we have to make sure the corporate welfare is dealt with as well.
I want to thank everybody for tuning in today to the Liberty Report.
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