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Oct. 24, 2025 - Ron Paul Liberty Report
29:14
Trump The Keynesian Bails Out Argentina While U S Farmers Suffer

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Hello everybody and thank you for tuning in to the Liberty Report.
With us today we have Chris Rossini, our co-host.
Chris, welcome to the program.
Good morning, Dr. Paul, and good morning to our viewers.
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Why We Leave Government Planning 00:12:52
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Dr. Paul, let's begin with our show.
Very good, Chris.
I want to introduce the show by informing our listeners and viewers that, you know, what we're dealing with today is the crisis in agriculture.
That's big in the news today.
Why?
Because everybody has to eat.
And when the prices go up, it's very difficult.
Sometimes when prices go way down, then the farmers are in big trouble.
But why is that the case?
Haven't we had the Department of Agriculture for a long time?
Don't we pump a lot of money into there, a lot of planning, a lot of fancy economists that can tell the government what they ought to do and what they should charge?
Unfortunately, there's way too many.
Agriculture could be a lot better off if they had a lot less government planning because it's the planners that make the trouble because they're working on a premise that they know what prices ought to be, what labor should be and where they come from.
And they think that if they know what the price of goods and services should be, they can do it.
So what do they do?
They get involved and the promise was they were going to help the American farmer.
American first, first for the farmers.
So what has happened hasn't gone so well because in the last six months it's deteriorated and people are very, very concerned.
One example of how some of these tariffs and all work, because when they put, you know, when they cut down the importing of America for cars, then the American companies that needed parts from overseas, they couldn't get them.
I mean, the whole thing is, it just doesn't work.
Same thing, you know, with farming.
Oh, yeah, we're going to put on tariffs, sanctions, the people who are underselling us, we're going to put sanctions on them.
We're going to punish the Chinese.
So they go ahead and do this.
And guess what?
China retaliated.
And I'll tell you, boy, that didn't make our administration.
The president wasn't very happy with that.
What nerve they have to retaliate?
So what they do, they say, we're not going to buy any more soybeans from you.
And all of a sudden, you know, that hurt.
And that upset a lot of people.
So interventionism has been around a long time.
There's been a lot of weird stories about what went on during the Depression.
The most weird story of the Depression, as far as I was concerned, is the idea that the government knows what the price of the goods and services would be rather than the market doing it.
But in the Depression, you know, there was a shrinkage of the money supply and there was liquidation.
There was a depression and they needed to get the prices up.
But instead of looking at the big picture of sound money and limited government, what they said they had to do is we'll get the prices up.
We're going to tell the farmers what they could do to get the farm out.
Well, if you have any crops, plow them under.
The prices will go up.
And the people were starving.
And that's about the most typical, ridiculous program the government ever have.
But they say, oh, that was back in the Depression.
They weren't very smart then.
But some of the programs we have now, not a whole lot better, or the farmers would be doing better.
And it's centrally planned.
The government's all involved.
And when the government gets involved and said certain prices, certain things ought to have a certain price.
If they're wrong, everybody suffers.
In the marketplace, it won't be perfect.
There will be a supply and demand.
The consumer becomes the king.
And there's ups and downs.
But I'll tell you what, it's a lot better system of looking at supply and demand and free markets rather than depending on the government to send out the orders.
And what are they going to plow under now?
Right now, it looks like they're plowing under our agricultural industry right now by saying, well, you know, we're trying to work a better deal and we're reaching out and we want to get along with Argentina.
So I think we ought to buy more soybeans and beef from Argentina.
Help Argentina and then we will become a more important country in this issue.
Guess what?
It isn't working very well.
Who wouldn't agree?
Well, if we buy, we are going to help Argentina.
But I thought it was America first, not Argentina first.
So here we go.
The American farmers then just, you know, their prices went down.
It was artificial.
And this interventionism is what's a big problem is interventionism doesn't work.
It makes things worse.
And right now, we have a lot of people around that they dedicate their lives and their educational system and the universities to interventionism.
And there's very little confidence placed in the people that really should count.
Because if that happened, if you got rid of the intervention, guess what?
There'd be a lot less employees in the U.S. government.
So that is certainly the system that we're working for because we have strong belief that individual liberty and personal choices and voluntarism, if you want to solve a problem, that's the way to go.
That's right, Dr. Paul.
Yeah, President Trump is very, you know, we're very disappointed in the path that he has chosen because there was only two choices when he was elected.
It's A, try to save the failed American empire or B, try, try.
You know, there's no guarantee to save America itself, the American people, and they are not the same.
You have to choose one or the other, empire or America.
And unfortunately, Trump has chosen to try to save the failed empire like Mikhail Gorbachev did.
He failed.
He could not save the Soviet Union.
And as a result of this mentality, everything has to be focused on empire outside everything that's outside, whether it's Israel, whether it's still Ukraine, still Ukraine.
Everything is focused on what is going on out there and not here.
We had another, this one stung big time for the American people, and that's this bailout of Argentina at the expense of not only taxpayers, as always, but American farmers who are suffering greatly already.
And President Trump and your empire first, sorry, that comes first rather than what is going on in here.
And, you know, this was a bad one.
Why are their farmers more important than our own?
And to add insult to injury to our farmers, President Trump posted a couple of days ago, October 22nd, quote, the cattle ranchers, who I love, don't understand the only reason they're doing so well for the first time in decades is because I put tariffs on cattle coming into the United States, including 50% tariff on Brazil.
If it weren't for me, they would be doing just as they've done for the past 20 years, terrible.
So the cattle ranchers, they're all screaming, why are you doing this to us?
And he's saying, you've never had it better.
It's because of me that you're doing so great.
I mean, it's a thing to watch, but it's real.
This is what is happening.
And, you know, as trying to save the empire, like Gorbachev, we're going to suffer because they're trying to save the unsavable.
And, you know, America comes last.
You know, Trump is blaming really the farmers themselves because he said the past 20 years they've been dealing with lousy.
No, there was one big, big issue during the Depression.
So it's been around because government intervention has been around for a long time.
He said in this recent statement he made, he said it would be nice if they would understand, the farmers understood.
He said the farmers just aren't smart enough if they would understand that.
But they also have to get their prices down because the consumer is in very bad, a very big factor in my thinking.
Of course, this whole thing, it's sort of like interest rate.
What does the Federal Reserve know?
They don't know anything, and I agree with that.
And yet substituting the Federal Reserve and Powell with somebody in the administration, they said, we know what the interest rate should be.
And then they say, so much of all this is all price fixing, up and down, and also protecting special interests.
And they think that's going to solve the problem.
I think that what they need to do is, of course, get the government out of the way.
And you have to correct these problems.
But this whole idea that all of a sudden, Insisting policies that say that we should get more meat and subsidize the meat in Argentina.
But it isn't that simple.
It always should be legal to get meat from Argentina.
And the adjustments would be natural if the shortage of beef in this country is due to natural causes or something.
You want these markets open, but you don't want to be dictated to because somebody's going to look like they're losing out.
Right now, the farmers are losing out.
And it also shows that price fixing doesn't really work because they don't know the prices.
And they always think that price fixing after a hurricane would be keep the prices down.
Well, you keep the prices down, then the problems get that much worse.
So it's a choice that we should have to make.
And Nixon said one very, very astute quote back in the 70s when a similar situation was occurring.
And that was back to the date, the period of time in the early 70s when Nixon took us off the gold standard to declared our bankruptcy and all these things that were happening.
And Nixon made a profound statement in his explanation.
He says, We're all Keynesians now.
And that quote has been around, it's come out in different forms, but he essentially said that we're all Keynesians now.
And in a way, it was true.
I think we're still having Keynesianism, that the government has to regulate the prices.
So I see this as some similarities to the problems of the farmers back in the 30s.
And people said, well, I guess what we need is a good old war because how did we finally get out of the Depression?
We had World War II and everybody went back to work.
Yeah, getting killed and a few other things.
So it makes no sense whatsoever for us to believe that we can do these things and regulate.
And Keynesianism are economic planners and they can't know because individuals, when they're up, when they're permitted their freedom to do and make their own decisions, they'll make mistakes and they may suffer the consequences.
The consumers might be saying, I don't like your product.
They might go bankrupt.
But when you take those same people and put them in the government and say, we don't want that, we don't want anybody to suffer.
Consumers Decide 00:06:03
We have to help the farmers.
They're not smart enough to know what to do.
And it's only us who can set the prices can do this.
Well, they do this, but I'll tell you what, it doesn't work.
And right now we're seeing the consequence of all this.
And this whole idea that war will solve our problem.
Well, tell you what, we were promised that we would have less wars and the wars that are going on.
And just think of many hotspots there are in the world today.
I mean, we have the military right now surrounding Venezuela.
People are just counting the days.
I wonder when we're going to invade.
Oh, we can't invade now.
Don't we have to take it to the Congress and get a declaration of war?
Oh, no, that's archaic.
We don't have to do that.
We could do it by executive order.
That's why our planes are buzzing all over Venezuela.
I'll tell you what.
And if the war expands, how can they?
They're running out of money.
But yet, in this thing, we're still financing these individuals, whether it's through the militarism that we have or whether it's the welfare state for big business.
Chris.
That's right.
Yeah, that's big business.
That's what we see throughout our country.
And farmers are the same thing.
It's consolidation, consolidation into these giant corporations that either run the show themselves or they own the smaller companies.
So that's what we have.
I saw that there's four big beef producers, and two of them are foreign companies.
And everybody else is under their umbrella.
And the same thing happened during COVID.
And this was just a few years ago.
We all remember this.
The small shops were forced to close.
You can't open your store.
You have to go to Walmart.
You have to go to the big company.
You go out of business.
There were tens of thousands of small businesses that went under by the force of the state.
And the big ones are kept.
And the purpose of all this is for totalitarian control.
Long story short, you control just a few nodes and then you control it all.
You know, that's what happened to the United States.
We started off as independent states.
After the Civil War, it didn't go back to those independent states minus slavery.
Slavery is banned everywhere.
That's what should have happened.
No, control was transferred, all control, to Washington, D.C.
Now, anyone who controls D.C. controls all the states.
You know, everybody's now under this one umbrella.
All independence is gone.
Same thing happened to Europe.
Europeans, all these individuals, they throw away their sovereignty.
And now whoever controls Brussels controls it all.
So that's the goal and to have these centers of power.
And then you can't get out of it.
All you have to do is control these nodes.
And then you got it all.
So that's the, now all this is going to fall apart, but at least we can see what's happening.
We can see what they're doing, why they do it.
You know, maybe they don't care that American small farmers are out of business because they have the big ones that they can control.
So that's what's happening.
It's ugly.
Somehow this is going to turn around someday.
It probably will be in a crisis when you have to decentralize.
You know, we don't want to see that happen, but that may be the only choice.
Very good.
You know, another thing that Keynesianism pushed throughout the many decades now is that deficits are okay and they're necessary and you do that when the economy is weak.
Not analyzing, you know, the real cause of recessions and depressions, which has a lot to do with the manipulation of our money supply, the rigging of interest rates, and a lot of other things.
And the principle that more spending should occur, not less.
So this is something that's been going on for a long time.
And now what Trump wants to do is sort of legalize control over, okay, okay, now we're going to allow so much beef to come out and come into the country from Argentina.
I'm not against beef coming into this country.
It should be there.
It should be free.
It should be operating.
And it should be the market should decide it.
If Americans can't get the right price of beef, then we should use import.
But it shouldn't be one time we prohibit it and the next time we demand it.
We should let the consumers decide this.
If the American producers can't produce it, that's a sign that imports should come up.
But once you have sanctions and retaliatory sanctions and tariffs on and on, it's so much mismanagement that we get.
We don't get good management.
And, you know, in some ways, I think it is an analogy to bigness.
We have big ag business and the producers, it's not like farmers raising their crops and looking at the market prices.
It's you know, the people who make the fertilizers and the food producers and all this.
In a way, the bigness was supposed to make everything efficient, but it was all managed by the government.
And that's exactly what happened to education.
You know, the small schools and all, well, we got to put them all together.
And they have, so they ruined the whole school system.
And now we're in a crisis in education.
And some of those things are being addressed, but not in the big picture of why have we deserted the Constitution and allowed the government to come in and do all this regulation, whether it's agriculture, whether it's agriculture or whether it's education or whatever.
Local Control Limits 00:08:39
Volunteerism and people getting along together will solve the problems with the minimum amount of people suffering.
But when you have economic interventionism and authoritarianism, you get the maximum number of people suffering.
Take a look at the mismanagement of the government in medicine.
Right now, not a lot of people are happy with medical care.
And we spend more money than probably any other country in the world, but it's all so difficult because it's too big.
And I practiced medicine at one time before Medicare and Medicaid, and people weren't turned away.
And the prices were the lowest to get to take care of the people.
Now they're the highest because you know some third party has to pay.
And if the doctors and the hospitals and all the service people don't say, well, this is going to cost you $200 when they know it's going to be less.
So they price it higher in order to anticipate the cutoff.
It's mismanagement.
It's price fixing.
And if you destroy price basically, and especially on interest rates, believe me, everything we're seeing today should not surprise anyone.
Very good, Dr. Paul.
I'll finish up with my last note here, and that is, we'd be lucky when all this empire stuff is said and done to go back to massive decentralization.
That's what happened after the Roman Empire.
Once that was done, massive decentralization of power.
You had all of these local power, which is how it should be with human beings, because we are not angels.
We, you know, we have this, if you give people the ability to have power, they're going to take it and they're going to use it.
So that power has to be limited to certain areas.
And you, you know, take a Fauci.
Why on earth was everybody listening to him?
Because the control system was there.
And when one guy does the wrong thing, everybody suffers everywhere.
This is not how it should.
That's not how it is with local control.
If you had your own local control, you could say, hey, look what happened over there with that guy Fauci and the people that listened to him.
Thank goodness it's localized and we weren't affected by it and you weren't affected by it.
That's what local control means.
And it's natural.
You know, my neighbor can't even come to my house and solve problems here because he doesn't know what the problems are.
He doesn't know what resources are here.
He doesn't know what I have, what I don't have.
He would be kind of lost.
How can somebody in Washington, D.C. tell me how to live my life if my neighbor can't even do it?
So that's what decentralization of power is.
And as Dr. Paul says, this consolidation, they're vulnerable because one false move and the whole thing comes apart.
And they're going to have that false move, many of them.
And we'll be lucky if we could go in the other direction, back to how the United States was designed to be from the beginning, local control, then your states.
And then if you have a need, the federal government for something, it's there, but it is not in your face the way it is today.
Very good, Chris.
You know, ideas, we know, have consequences.
Bad ideas have bad results.
It's a matter of seeking out, you know, the best ideas and best principles.
The founders had a pretty good handle on this and tried to set up a system where there would be voluntarism and markets and not a totalitarian, authoritarian type of government.
So the ideas are very important.
But one thing that evolved out of the Depression was to spend more money and deficits don't matter.
I mean, that's a principle they were arguing about.
Well, how can you do that if you don't have any money?
Oh, we have a new tool.
And it came out in 1913.
We will tax people from all their income.
That's a source of revenue, but it won't be enough.
So we have to really fool the people.
We won't call it a tax.
What we're going to do is steal their money by giving, making them use a Federal Reserve note, which is fiat, and it's going down in value.
So if it loses 50% of the value, that's a 50% tax.
Unfortunately, that's what's going on.
And now we are.
We have deficits.
And I mentioned already, $38 trillion deficit right now.
So what is that?
And they say, well, we can handle it.
I guess they have been.
And that's the thing that will bring all this to a conclusion, just like it brought in a way the honesty that will come blaring out about fiat money.
And that's why they had to get off the gold standard way back in 71.
But they've relied on, and they still rely on, I mean, $38 trillion.
Where are they going to get the money next week for the bombs that we're going to buy and the planes that we're flying all around the world?
The occupations in over 100 countries with military personnel.
We have that there, but we have the Fed.
The Fed is like magic.
All we have to do is send the bills over there.
And they have no choice but to buy the Treasury bills and send us more money, which what does it do?
It's the tax.
It devalues the currency.
And that is what holds it together.
So it is true.
Somebody said, well, what would happen if they did what you want?
That the government can't buy up the debt and give us paper money, fiat money.
It would be very hectic.
But it would not be as hectic as it will be through a transition if people are moving toward free markets and personal liberties.
That would be a different.
But it is true that if you all of a sudden said, take away the power, it is a vicious power of the Fed buying treasury bills, which supports all kinds of industries and banks and military-industrial complex, all these things.
If we do this, then it would be tough.
But I'll tell you what, what is on its way here is dealing with $38 trillion deficit, which is on an exponential curve right now.
And it's going to get much worse because a lot of that debt has to be renegotiated.
And no matter where interest rates are today and how strong they think they could keep those interest rates on, eventually the destruction of money makes a tremendous increase in interest rate.
So there's a limit to what we're doing here.
And all we try to do at the Liberty Report is indicate how we got here by stupid mistakes.
And it's not because telling the farmers that they don't know what they're doing and argue that we have to get our prices down by individuals who are participating in all the spending.
So we have a lot of waking up to do, but there's where this positive thing's happening.
It took 100 years of progressive education to come in and destroy our educational system, but there is a remnant out there and it's waking up.
They know about sound money.
They know about personal liberty.
And the information is available.
And thank goodness for the internet.
And yet even the internet is being threatened by too much government saying, well, we can't have the internet criticizing what we're saying.
And right now, there's a lot of encroachment.
So it's a real battle of ideas.
Are we going to live with the ideas of liberty and personal responsibility?
Or are we going to cave in and say, just change the managers?
We just need a better manager.
Our team's been losing.
We're going to get a new coach, a new manager of this team.
Now, it's not going to be like that.
They can't do it.
They have to have a new idea that was actually an old idea.
And that there's every reason to believe that the people of this country, our United States, would prefer to live in a country that emphasized liberty and promote that cause, because under those conditions, there would be a lot more peace and prosperity.
I want to thank everybody for tuning in today to the Liberty Report.
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