Ron Paul
2008 Ron Paul Chapter 40


26 June 2008

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26 June 2008 The SPEAKER pro tempore. Under a previous order of the House, the gentleman from Texas (Mr. PAUL) is recognized for 5 minutes. (Mr. PAUL asked and was given permission to revise and extend his remarks.)

2008 Ron Paul 40:1
Mr. PAUL. Madam Speaker, today we saw some financial fireworks on the markets. The Dow Jones average was down 350-some points, gold was up $32, oil was up another $5, and there’s a lot of chaos out there; and everyone is worried about $4-a-gallon gasoline. I don’t think there is a clear understanding exactly why that has occurred.

2008 Ron Paul 40:2
We do know that there is a supply and demand, there’s a lot of demand for oil. The supplies may be dwindling. But there are other reasons for high costs of energy. One is inflation. For instance, to pay for the war that has been going on and the domestic spending, we have been spending a lot more money than we have. So what do we do? We send the bills over to the Federal Reserve to create new money. In the last 3 years, our government, through the Federal Reserve and our banking system, created $4 trillion of new money. That is one of the main reasons why we have this high cost of energy in $4 gallon gasoline.

2008 Ron Paul 40:3
But there is another factor that I want to talk about tonight. And that is not only the fear of inflation and future inflation, but the fear factor dealing with our foreign policy.

2008 Ron Paul 40:4
And in the last several weeks, if not for months now, we have heard a lot of talk about the potentiality of Israel and/or the United States bombing Iran. And it is in the marketplace, and it’s being bid up. The energy crisis is being bid up because of this fear. It’s been predicted if bombs start dropping, that you’re going to see energy prices double or triple. It’s just the thought of it right now that helps to push these prices, the price of energy, up. And that is a very real thing going on right now. But to me, it’s almost like déjà vu all over again, as has been said.

2008 Ron Paul 40:5
We listened to the rhetoric for years and years before we went into Iraq. We did not go in in the correct manner. We didn’t declare war. We’re there. It’s an endless struggle. We’re in Iraq. We’re endlessly struggling there, and I cannot believe that we may well be on the verge of initiating bombing of Iran.

2008 Ron Paul 40:6
Leaders on both sides of the aisle and the administration have all said so often that no options can be taken off the table, including a nuclear first strike on Iran. The fear is, they say, maybe some day they’re going to get a nuclear weapon, even though our own CIA and our NIE, National Intelligence Estimate, has said they have not been working.

2008 Ron Paul 40:7
The Iranians have not been working on a nuclear weapon since 2003. They say they’re enriching uranium, but there’s no evidence whatsoever that they’re enriching uranium for weapons purposes. They may well be enriching uranium for peaceful purposes, and that is perfectly legal. They have been a member of the nonproliferation treaties, and they are under the investigation of the IAEA, and Alberidy last verified in the last year there have been nine unannounced investigations and examinations of the uranium nuclear structure, and they have never been found to be in violation. Yet this country and Israel are talking about a preventive war starting bombing for this reason without negotiation, without talks.

2008 Ron Paul 40:8
Now, the one issue that I do want to mention tonight is a resolution that is about to come to this floor, if our suspicions are correct, after the July 4th holiday. And this bill will probably be brought up under suspension, it will probably be expected to pass easily, and probably will be, and it’s just more war propaganda, more preparation to go to war against Iran.

2008 Ron Paul 40:9
And this resolution, H.J. Res. 362, is a virtual war resolution. It is the declaration of tremendous sanctions and boycotts and embargoes on Iran. It’s very, very severe.

2008 Ron Paul 40:10
Let me just read what is involved in this, if this bill passes, what we’re telling the President he must do. This demands that the President impose stringent inspection requirements on all persons, vehicles, ships, planes, trains, and cargo entering or departing Iran and prohibiting the international movement of all Iranian officials. I mean, this is unbelievable. This is closing down Iran. Where do we have this authority? Where do we get the moral authority? Where do we get the international legality for this? Where do we get the constitutional authority for this?

2008 Ron Paul 40:11
This is what we did for 10 years before we went into Iraq. We starved children. 50,000 individuals that were admitted probably died because of the sanctions on the Iraqis. They were incapable at the time of attacking us, and all of the propaganda that was given for our need to go into Iraq wasn’t true.

2008 Ron Paul 40:12
And it’s not true today about the severity. And they say, Yeah, but Ahmadinejad, he’s a bad guy. He’s threatened violence. But you know, us threatening violence is very, very similar. We must look at this carefully. We just can’t go to work again under these careless, frivolous conditions.

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