The Book of Ron Paul
1997 Ron Paul Chapter 101

Foreign Operations Appropriation Conference Report

9 November 1997

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The SPEAKER pro tempore. For what purpose does the gentleman from Texas rise?

1997 Ron Paul 101:1
Mr. PAUL. I ask unanimous consent to address the House for 1 minute.

1997 Ron Paul 101:2
The SPEAKER pro tempore. Without objection.

1997 Ron Paul 101:3
Mr. PAUL. Madam Speaker, I rise to point out to the House a piece of legislation that I am sure will be passed tonight or in the morning in the wee hours when a lot of people aren’t paying much attention. That’s the foreign operations appropriations conference report.

1997 Ron Paul 101:4
And I’d like to point out that buried in this report is a $3.5 billion new program called the new agreements to borrow, further funding for the IMF. These are the funds that will be used to bail out Third World nations and also bail out bankers and industries that have invested in these nations such as in Mexico or Indonesia.

1997 Ron Paul 101:5
This is considered not to be expensive because of our special accounting procedure here, it’s not on budget. It’s supposed to be for free. But let me call your attention to this: new agreements to borrow, IMF, new funding in the foreign operations appropriations report. This is inflationary, it’s detrimental to the dollar, and it’s subsidized foreign interests as well as special banking and industrial interests here.

1997 Ron Paul 101:6
The SPEAKER pro tempore. The gentlemand’s time has expired.


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