U.S. Rep. Ron Paul | Asia |
Asia
State Of The Republic
28 January 1998 1998 Ron Paul 2:59
There is a sense of relief the welfare state has received a reprieve. One can almost hear the sigh amplified by hearing of the problems in the Southeast Asia countries with their currency and stock market problems, not realizing it is the U.S. taxpayers and the dollar that will be called upon for the bailout of this financial crisis.
Asia
State Of The Republic
28 January 1998 1998 Ron Paul 2:62
The international currency crisis: Congress lacks concern and understanding of the significance of the Asian currency crisis. Monetary policy has never excited many Members of the Committee on Banking, let alone other members of Congress. A handful of Members do consistently complain to the Chairman of the Federal Reserve, but inevitably it is to object to the high interest rates and not enough credit being available to either the poor or the rich beneficiaries of Central Bank credit largesse.
Asia
State Of The Republic
28 January 1998 1998 Ron Paul 2:63
The Southeast Asian currency and economic bailout will exceed $100 billion. We will be propping up these currencies by sending American taxpayers’ dollars, the same thing we did in Mexico in 1995. Multilateral efforts through the IMF, World Bank and other development banks are used, and in each one the United States is the most generous donor.
Asia
State Of The Republic
28 January 1998 1998 Ron Paul 2:68
After the Mexican bailout, her citizens lost 50 percent of their purchasing power, a dramatic pay cut. Yet the great danger is that some day we will be forced to pay, possibly with a dollar crisis that will make the Asian currency crisis look small in comparison.
Asia
State Of The Republic
28 January 1998 1998 Ron Paul 2:70
When the dollar comes under attack, since it is the reserve currency of the world, a much more serious crisis than we are currently witnessing in Asia will occur. Only a universal acceptance of a single worldwide commodity standard of money can prevent these periodic devaluations and disruptions in trade that are so prevalent today.
Asia
State Of The Republic
28 January 1998 1998 Ron Paul 2:71
The day before we adjourned the first session of the 105th Congress, the Committee on Banking and Financial Services held hearings on the Asian currency crisis, but it was more an attempt to reassure the financial community than to sort out the cause and do something about it.
Asia
Three Important Issues For America
11 February 1998 1998 Ron Paul 7:6
The IMF is another issue that I think is very important. This funding will be coming up soon. The Congress will be asked to appropriate $18 billion to bail out the Southeast Asian currencies and countries, and this is a cost; although we are told it does not cost anything, it does not add to the deficit, there is obviously a cost, and we cannot convince the American people that there is no cost just because of our method of budgeting and we do not add it into the deficit.
Asia
Three Important Issues For America
11 February 1998 1998 Ron Paul 7:7
Once again, these funds, whether they go to Southeast Asia or whether they go to Mexico, they never seem to help the little people; they never help the poor people. The poor are poorer than ever in Mexico, and yet the politicians and the corporations and the bankers even in this country get the bailout. This $18 billion is nothing more than another bailout.
Asia
Three Important Issues For America
11 February 1998 1998 Ron Paul 7:74
Well, that to me is the wrong way to go. If we are involved in internationalism, where international financing now is influencing our presidential election, if international finances demand that we take more money from the American taxpayers and bail out southeast Asian countries through the IMF and that we are willing to have our young men and women be exposed to war conditions and to allow them to go to war mainly under a U.N. resolution and a token endorsement by the Congress, I think this is the wrong way to go.
Asia
The Folly Of Foreign Intervention — Part 3
25 February 1998 1998 Ron Paul 18:21
If we argue our case correctly, if we argue the more argument, the constitutional argument, and the argument for peace as well, I cannot see how the American people cannot endorse a policy like that, and I challenge those who think that we should go carelessly and rapidly into battle, killing those who are not responsible, further enhancing the power and the authority of those who would be the dictators. They do not get killed. Sanctions do not hurt them. The innocent people suffer. Just as the economic sanctions that will be put on Southeast Asia as we give them more money, who suffers from the devaluations? The American taxpayer, as well as the poor people, whether they are in Mexico or Southeast Asia, in order to prop up the very special interests. Whether it is the banking interests involved in the loans to the Southeast Asians, or our military-industrial complex who tends to benefit from building more and more weapons so they can go off and test them in wars that are unnecessary.
Asia
Conference Report on H.R. 1757, Foreign Affairs Reform And Restructuring Act Of 1998
26 March 1998 1998 Ron Paul 28:10
ADDTIONALLY This “agreement” authorizes $1.8 Billion for multilateral assistance in excess of the previously mentioned contribution to the United Nations; $60 million dollars for the National Endowment for Democracy; $20 million for the Asia Foundation; $22 million for the East-West Center for the study of Asian and Pacific Affairs; $1.3 billion for international migration and refugee assistance and an additional $160 million to transport refugees from the republics of the former Soviet Union to Israel. Also, $100 million is authorized to fund radio broadcasts to Cuba, Asia and a study on the feasibility of doing so in Iran.
Asia
The Bubble
28 April 1998 1998 Ron Paul 39:18
It is now commonly believed that the East Asian financial crisis is having no impact on our economy. But it’s too early to make that kind of an assessment. Our president remains popular, according to the polls, but what will it be like if there’s any sign of economic weakness? There could then be a lot of “piling on” and finger pointing.
Asia
The Bubble
28 April 1998 1998 Ron Paul 39:29
LEARN FROM JAPAN The most important thing to remember is that perceptions and economic conditions here can change rapidly, just as they did last summer in the East Asian countries with the bursting of their financial bubble. They are now in deep recession.
Asia
The Bubble
28 April 1998 1998 Ron Paul 39:32
OECD measurements, the M1 and quasi-money have been increasing at greater than 20 percent per year in East Asia. In the United Stats, M3 has been increasing at 10 percent a year. It is estimated that this year the U.S. will have a $250 billion current account deficit — continued evidence of our ability to export our inflation.
Asia
The Bubble
28 April 1998 1998 Ron Paul 39:46
It must be understood that politicians and the pressure of the special interests in Washington demand that the current policies of spending, deficits, artificially low interest rates and easy credit will not change. It took the complete demise of the Soviet-Communist system before change came there. But be forewarned: change came with a big economic bang not a whimper. Fortunately that event occurred without an armed revolution . . . so far. The amazingly sudden, economic events occurring in East Asia could still lead to some serious social and military disturbances in that region.
Asia
The Bubble
28 April 1998 1998 Ron Paul 39:49
The issue of nationalism is something that cannot be ignored. Immediately after the collapse in East Asia, Malaysia began shipping out hundreds of immigrants from Indonesia as a reaction to their economic problems. Resentment in Germany, France, and England is growing toward workers from other countries.
Asia
The Bubble
28 April 1998 1998 Ron Paul 39:56
Whether it’s Japan that tries to inflate their currency to get out of an economic problem, or the East Asian countries facing their crisis, or our willingness to bail out the IMF, resorting to monetary inflation is the only option being considered. We can rest assured that inflation is here to stay.
Asia
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:1
BACKGROUND Mr. PAUL. Mr. Speaker, the Soviet system, along with the Berlin Wall, came crashing down in 1989, the same year the new, never-to-end, era came to a screeching halt in Japan. The Japanese economic miracle of the 1970’s and the 1980’s, with its “guaranteed” safeguards, turned out to be a lot more vulnerable than any investor wanted to believe. Today the Nikkei stock average is still down 60% from 1989, and the Japanese banking system remains vulnerable to its debt burden, a weakening domestic economy and a growing Southeast Asian crisis spreading like a wild fire. That which started in 1989 in Japan — and possibly was hinted at even in the 1987 stock market “crash” — is now sweeping the Asian markets. The possibility of what is happening in Asia spreading next to Europe and then to America should not be summarily dismissed.
Asia
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:17
REFUSAL In the approximately 8 months since the crisis hit Indonesia there has been no serious look at the underlying cause — monetary inflation brought about by a central bank. Nor has any serious thought gone into the internationalization of credit as United States exports of billions of dollars, and thus our own inflation, to most nations of the world who hold these dollars in reserve and use them to further inflate their own currencies. Our huge negative trade balance and foreign debt is not considered by conventional wisdom to be relevant to the Asian currency problems, yet undoubtedly it is. True reform to deal with the growing worldwide crisis can only be accomplished by us first recognizing the underlying economic errors that caused the current crisis.
Asia
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:18
The philosophy of the free market, holds a lot of answers, yet the difference between free market capitalism and interventionist political cronyism has not been considered by any of the world banking and political leaders currently addressing the exploding Southeast Asian crisis.
Asia
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:21
As the Asian crisis spreads, I would expect Europe to feel the crunch next. Unemployment is already at a 12% level in Germany and France. The events can be made worse and accelerated by outside events like a Middle Eastern crisis or a war between India and Pakistan both now rattling their nuclear weapons. Eventually though, our system of “crony capitalism” and fiat money system will come under attack. Our system of favoring industries is different than the family oriented favoritism of Suharto, but none-the-less is built on a system of corporate welfare that prompts constant lobbying of Congress and the Administration for each corporation’s special interests. We have little to talk about as we preach austerity, balanced budgets and sound money to the current victims. Our day will come when we will humble ourselves before world opinion as our house of cards comes crashing down.
Asia
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:1
Mr. PAUL. Mr. Speaker, the Soviet system, along with the Berlin Wall, came crashing down in 1989, the same year the new, never-to-end, era came to a screeching halt in Japan. The Japanese economic miracle of the 1970’s and the 1980’s, with its “guaranteed” safeguards, turned out to be a lot more vulnerable than any investor wanted to believe. Today the Nikkei (Tokyo) stock average is still down 57% from 1989, and the Japanese banking system remains vulnerable to its debt burden, a weakening domestic economy and a growing East Asian crisis spreading like a wild fire. That which started in 1989 in Japan — and possibly was hinted at even in the 1987 stocke market “crash” here — is now sweeping the Asian markets. The possibility of what is happening in Asia spreading next to Europe, and then to America, should not be summarily dismissed.
Asia
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:17
REFUSAL In the approximately eight months since the crisis hit Indonesia, there has been no serious look at the underlying cause: monetary inflation brought about by a central bank. Nor has any serious thought gone into the internationalization of credit as United States exports of billions of dollars, and thus our own inflation, to most nations of the world which hold these dollars in reserve and use them to further inflate their own currencies. Our huge negative trade balance and foreign debt is not considered by conventional wisdom to be relevant to the Asian currency problems, yet undoubtedly it is. True reform to deal with the growing worldwide crisis can only be accomplished by us first recognizing the underlying economic errors that caused the current crisis.
Asia
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:18
The philosophy of the free market holds a lot of answers — yet the difference between free market capitalism and interventionist political cronyism has not been considered by any of the world banking and political leaders currently addressing the exploding East Asian crisis.
Asia
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:21
As the Asian crisis spreads, I would expect Europe to feel the crunch next. Unemployment is already at or approaching 12% in Germany and France. The events can be made worse and accelerated by outside events like a Middle Eastern crisis or a war between India and Pakistan both now rattling their nuclear sabers. Eventually though, our system of “crony capitalism” and fiat money system will come under attack. Our system of favoring industries is different than the family-oriented favoritism of Suharto, but none-the-less is built on a system of corporate welfare that prompts constant lobbying of Congress and the Administration for each corporation’s special interests. We have little room to talk as we preach austerity, balanced budgets and sound money to the current victims. Our day will come when we will humble ourselves before world opinion as our house of cards comes crashing down.
Asia
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:2
Mr. James Grant is the editor of Grant’s Interest Rate Observer, a financial publication, and editorial director of Grant’s Municipal Bond Observer and Grant’s Asia Observer. He has also authored several books including the biographical “Bernard Baruch: Adventures of a Wall Street Legend”, the best financial book of the year according to The Financial Times “Money of the Mind: Borrowing and Lending in America from the Civil War to Michael Milken”, “Minding Mr. Market: Ten Years on Wall Street with Grant’s Interest Rate Observer” and “The Trouble with Prosperity: The Loss of Fear, the Rise of Speculation, and the Risk to American Savings”. He is a frequent guest on news and financial programs, and his articles appear in a variety of publications.
Asia
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:7
It cannot undergird confidence that the monetary fires are becoming six- and seven-alarmers. Writing in 1993 about the crisis of the European Rate Mechanism (in which George Soros bested the Bank of England by correcting anticipating a devaluation of the pound), a central bankers’ organization commented: “Despite its geographical confinement to Europe, it is probably no exaggeration to say that the period from late 1991 to early 1993 witnessed the most severe and widespread foreign exchange market crisis since the breakdown of the Bretton Woods System 20 years ago.” But the European crisis has been handily eclipsed by the Asian one.
Asia
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:16
After the 1994 crisis involving the Mexican peso, the world’s financial establishment vowed to stave off a recurrence. Even as the experts delivered their speeches, however, Asian banks were overlending and Asian businesses were overborrowing; the credit-cum-currency eruption followed in short order. Naturally, officials and editorialists are now calling for even better fire prevention systems.
Asia
Worldwide Financial Crisis
10 September 1998 1998 Ron Paul 97:1
Mr. PAUL. Mr. Speaker, the largest of all bubbles is now bursting. This is a worldwide phenomenon starting originally in Japan 9 years ago, spreading to East Asia last year, and now significantly affecting U.S. markets.
Asia
Worldwide Financial Crisis
10 September 1998 1998 Ron Paul 97:6
The current system eventually promotes overcapacity and debt that cannot be sustained. The result is a slump, a recession, or even a depression. When the government makes an effort to prevent a swift, sharp correction, the agony of liquidation is prolonged and deepened. This is what is happening in Japan and other Asian countries today. We made the same mistake in the 1930s.
Asia
Worldwide Financial Crisis
10 September 1998 1998 Ron Paul 97:8
All this could have been prevented by a sound monetary system, one without a central bank that has monopoly power over money and credit and pursues central economic planning. My concern is profound. The retirement and savings of millions of Americans are jeopardized. Economic growth could be reversed sharply and quickly as it already has in the Asian countries. Budget numbers will need to be sharply revised.
Asia
A Positive Spin On An Ugly War
7 June 1999 1999 Ron Paul 54:7
Number six, NATO’s war against Yugoslovia has made it clearly apparent that world leaders place relative value on human life. This is valuable information that should be helped to restore U.S. national sovereignty. According to NATO’s policy, the lives of the Kosovars are of greater value than the Serbs, Rwandans, Kurds, Tibetans, or East Timorans. Likewise, oil and European markets command more bloodshed in support of powerful financial interests than the suffering of millions in Asia and Africa. This knowledge of NATO’s hypocrisy should some day lead to a fair and more peaceful world.
Asia
Exchange Stabilization Fund
15 July 1999 1999 Ron Paul 76:10
What is the purpose of having a Congress? What is the purpose of the Constitution if we have an obligation to guarantee the value of the dollar and if we permit somebody not under our control to do whatever they want to the dollar under the pretense that we are going to protect the value of all the currencies of Asia?
Asia
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:85
Our attitude toward foreign policy has dramatically changed since the beginning of the century. From George Washington through Grover Cleveland, the accepted policy was to avoid entangling alliances. Although we spread our wings westward and southward as part of our manifest destiny in the 19th century, we accepted the Monroe Doctrine notion that European and Asians should stay out of our affairs in this hemisphere and we theirs. McKinley, Teddy Roosevelt, and the Spanish American war changed all that. Our intellectual and political leaders at the turn of the last century brought into vogue the interventionist doctrine setting the stage for the past 100 years of global military activism. From a country that once minded its own business, we now find ourselves with military personnel in more than 130 different countries protecting our modern day American empire. Not only do we have troops spread to the four corners of the Earth, we find Coast Guard cutters in the Mediterranean and around the world, our FBI in any country we choose, and the CIA in places Congress does not even know about. It is a truism that the state grows and freedom is diminished in times of war. Almost perpetual war in the 20th century has significantly contributed to steadily undermining our liberties while glorifying the state.
Asia
WHAT IS FREE TRADE?
May 2, 2000 2000 Ron Paul 29:46
Well, since that time we have had a peso crisis in Mexico and we had a crisis with currencies in Southeast Asia. So I would say that the management of finances with the IMF as well as the World Trade Organization has been very unsuccessful, and even if one does not accept my constitutional argument that we should not be doing this, we should at least consider the fact that what we are doing is not very successful.
Asia
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:3
* When trade imbalances are not corrected, sudden devaluations, higher interest rates, and domestic inflation are forced on the country that has most abused its monetary power. This was seen in 1997 in the Asian crisis, and precarious economic conditions continue in that region.
Asia
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:4
* Japan has yet to recover from its monetary inflation of the 70s and 80s and has now suffered with a lethargic economy for over a decade. Even after this length of time there is no serious thought for currency reform in Japan or any other Asian nation.
Asia
The Dollar And Our Current Account Deficit
May 16, 2000 2000 Ron Paul 37:8
* Japan’s lethargy, the Asian crisis, the Mexican financial crisis, Europe’s weakness, the uncertainty surrounding the EURO, the demise of the Soviet system, and the ineptness of the Russian bailout, all contributed to the continued strength in the dollar and prolongation of our current account deficit. This current account deficit, which prompts foreigners to loan back dollars to us and to invest in our stock and bond markets, has contributed significantly to the financial bubble. The perception that the United States is the economic and military powerhouse of the world, helps perpetuate an illusion that the dollar is invincible and has encouraged our inflationary policies.
Asia
INTERNATIONAL TRADE
May 23, 2000 2000 Ron Paul 39:4
For the past decade, with sharp adjustments in currency values such as occurred during the Asian financial crisis, the dollar and the U.S. consumers benefitted. But these benefits will prove short-lived, since the unprecedented prosperity and consumption has been achieved with money that we borrow from abroad.
Asia
Permanent Normal Trade Relations
May 24, 2000 2000 Ron Paul 40:6
* No Mr. Speaker and my colleagues, don’t be fooled into thinking this bill is anything about free trade. In fact, those supporting it should be disgraced to learn that, among other misgivings, this bill, further undermines U.S. sovereignty by empowering the World Trade Organization on the backs of American taxpayers, sends federal employees to Beijing to become lobbyists to members of their communist government to become more WTO-friendly, funds the imposition of the questionable Universal Declaration of Human Rights upon foreign governments, and authorizes the spending of nearly $100 million to expand the reach of Radio Free Asia.
Asia
THREATS TO FINANCIAL FREEDOM
October 19, 2000 2000 Ron Paul 88:12
So now we have the government money police targeting normal financial activities that until recently have been perfectly legal, simply because a person decides in his own best interests, to go offshore. We all know that in the US, African-American, Latino, Asian-American and other racial minorities have been unfairly subject to police ‘profiling.’ Add to that list of ‘presumed guilty,’ Americans who engaged in offshore financial activity.
Asia
ECONOMIC PROBLEMS AHEAD
November 13, 2000 2000 Ron Paul 93:9
* Rising interest rates in the high yield bond market is giving us an indication that a serious problem is just around the bend. Commercial debt was but $50 billion in 1994 and is now ten times higher now at $551 billion. The money supply is now growing at greater than a 10% rate and the derivatives market, although difficult to calculate, probably exceeds $75 trillion. We also have consumer debt, which is at record highs and has not yet shown signs of slowing. The Dow Jones Industrial Average stocks are now 5 times book value, the highest in over a hundred years. There will come a day when most people come to realize the fraud associated with Social Security and the inability for it to continue as currently managed. Rising oil and natural gas prices, it is argued, are not inflationary, yet they are playing havoc with the pocketbooks of most Americans. The economies of Asia, and in particular Japan, will not offer any assistance in dealing with the approaching storm in this country. Our foreign policy, which continues to obligate our support around the world, shows no signs of changing and will contribute to the crisis and possibly our bankruptcy.
Asia
ECONOMIC UPDATE
December 4, 2000 2000 Ron Paul 97:25
* A short time after Chairman Greenspan took over the reigns of the Federal Reserve the stock market crash of 1987 prompted him to alleviate concerns with a heavy dose of monetary inflation. Once again, in the slump of 1991 and 1992, he again re-ignited the financial bubble by more monetary inflation. There was no hesitation on Mr. Greenspan’s part to inflate as necessary to alleviate the conditions brought about by the Mexican financial crisis, the Asian crisis, the Russian ruble crisis, and with the Long-Term Capital Management crisis. Just one year ago the non-existent Y2K crisis prompted huge, unprecedented monetary inflation by the Federal Reserve. All these efforts kept interest rates below the market rate and contributed to the financial bubble that is now starting to deflate. But, there is no doubt that this monetary inflation did maintain an economy that seemed like it would never quit growing. Housing markets thrived, the stock market and bond market thrived, and in turn, the great profits made in these areas, especially gains made by stock market transactions, produced profits that inflated greatly the revenues that flowed into the Treasury. The serious problem that we now face, a collapsing stock market and a rapidly weakening economy, was caused by inflating the money supply along with artificially low interest rates. More inflation and continuing the policy of artificially low interest rates can’t possibly be the solution to the dilemma we face.
Asia
U.S. Intervention In South Korea
25 April 2001 2001 Ron Paul 26:3
SEOUL, SOUTH KOREA — Amid heightened tension between the U.S. and China over the downing of an American spy plane, frustration is mounting inside President Kim Dae Jung’s government that President Bush’s Asia policies are undercutting ties between North and South Korea.
Asia
U.S. Intervention In South Korea
25 April 2001 2001 Ron Paul 26:6
Now, the U.S.-China standoff over an American surveillance plane that landed on China’s Hainan island is fanning fears that a renewed Cold War will grip North Asia. “The U.S.’s dependence upon a Cold War strategy . . . is causing the detente mood (on the Korean Peninsula) to collapse,” says Jang Sung Min, a legislator with the Millennium Democratic Party and an aide to Mr. Kim. He fears the U.S.’s pursuit of missile defense will exacerbate this tension by leading to a renewed arms race between regional powers China, Japan and Russia.
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:1
Mr. PAUL. Mr. Speaker, I would like to draw the attention of my colleagues to the Op Ed article “Crazy for Kazakhstan — Asian nation of vital interest” by former Secretary of Energy Bill Richardson published in “The Washington Times” on July 30, 2001. Mr. Richardson has been working with countries of Central Asia, particularly with oil rich Kazakhstan, for a long time and has an extensive expertise in the region. I think we can rely on his assessments. In the article he outlines achievements of Kazakhstan and defines this country one of the promising “of all the countries rising from the ashes of the Soviet Union”.
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:5
Mr. Speaker, I agree with Mr. Richardson that this key Central Asian country is of great importance to U.S. interests. Kazakhstan in many ways should be seen as our natural ally in the region. The time has come for the U.S. to pay closer attention to this country and be more engaged with it. For this reason I cosponsored the legislation (H.R. 1318) that would grant permanent trade relations to Kazakhstan.
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:7
[From the Washington Times, July 30, 2001] CRAZY FOR KAZAKHSTAN (By Bill Richardson) As secretary of energy and ambassador to the United Nations during the Clinton administration, I traveled three times to Kazakhstan to underscore the importance of this key Central Asian country to U.S. interests. Of all the countries rising from the ashes of the Soviet Union, few offer the promise of Kazakhstan. In terms of both economic potential and political stability, Kazakhstan is critical to the long-term success of the Central Asian nations. The Bush administration should continue our policy of engaging Kazakhstan to ensure that this key country moves towards the Western orbit and adopts continued market and political reforms.
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:8
From its independence from the Soviet Union in 1991 to the Present, Kazak leaders have made the difficult and controversial decisions necessary to bring their country into the 21st century. In May 1992, President Nursultan Nazarbayev announced that Kazakhstan would unilaterally disarm all of its nuclear weapons. In the aftermath of the Soviet Union’s collapse, Kazakhstan was left with the fourth-largest nuclear arsenal in the world, a tempting target for terrorists and other extremists. Mr. Nazarbayev’s courageous decision to disarm in the face of opposition from Islamic nationalists and potential regional instability was one of the fundamental building blocks that have allowed Kazakhstan to emerge as a strong, stable nation and a leader in Central Asia. Then-President George Bush hailed the decision as “a momentous stride toward peace and stability.”
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:9
Since that time, Central Asia has become an increasingly complex region. Russia is reemerging from its post-Soviet economic crises and is actively looking for both economic opportunities in Central Asia as well as to secure its political influence over the region. China is rapidly expanding its economic power and political influence in the region. Iran, despite recent progress made by moderate elements in the government, is still a state sponsor of terrorism and is actively working to develop weapons of mass destruction. Many of the other former Soviet republics have become havens for religious extremists, terrorists, drug cartels and transit points for smugglers of all kind.
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:11
American policy in the region must be based on the complex geopolitics of Central Asia and provide the support required to enable these countries to reach their economic potential. We must continue to give top priority to the development of Kazakhstan’s oil and gas industries and to the establishment of east-west transportation corridors for Caspian oil and gas. We must also remain committed to real support for local political leadership, fostering rule of law and economic reforms and to helping mitigate and solve the lingering ethnic and nationalistic conflicts in the region. Only through meaningful and substantial cooperation with Kazakhstan, will we be able to realize these goals.
Asia
Crazy For Kazakhstan
1 August 2001 2001 Ron Paul 69:12
There are many challenges ahead for Kazakhstan, but there are enormous opportunities for economic and political progress. Mr. Nazarbayev has taken advantage of Kazakhstan’s stability to begin transforming its economy from the old Soviet form giant, state-owned industries and collective grain farms into a modern, market-based economy. We have much at stake in this development. Will Kazakhstan become a true market- oriented democracy, or will it slip into economic stagnation and ethnic violence like so many of its neighbor? The stability of Central Asia and the Caucasus depends on how Kazakhstan chooses to move forward. The United States must do its part to enhance U.S.-Kazakhstancooperation and encourage prosperity and stability for the entire region.
Asia
Foolishness Of Fiat
31 October 2001 2001 Ron Paul 92:5
We cannot continually bail out others with expansion of the dollar money supply, as we have with the crisis in Turkey, Argentina, and the countries of Southeast Asia. This policy has its limits, and confidence in the dollar is the determining factor. Even though, up until now, confidence has reigned, encouraged by our political and economic strength, this era is coming to an end. Our homeland has been attacked, our enemies are not easily subdued, our commitments abroad are unsustainable, and our economy is fast slipping into chaos.
Asia
Ongoing Violence in Israel and Palestine
December 5, 2001 2001 Ron Paul 102:20
Further, it recommends that the President suspend all relations with Yasir Arafat and the Palestinian Authority if they do not abide by the demands of this piece of legislation. I don’t think this is a very helpful approach to the problem. Ceasing relations with one side in the conflict is, in effect, picking sides in the conflict. I don’t think that has been our policy, nor is it in our best interest, be it in the Middle East, Central Asia, or anywhere else. The people of the United States contribute a substantial amount of money to both Israel and to the Palestinian people. We have made it clear in our policy and with our financial assistance that we are not taking sides in the conflict, but rather seeking a lasting peace in the region. Even with the recent, terrible attack. I don’t think this is the time for Congress to attempt to subvert our government’s policy on the Israeli-Palestinian conflict.
Asia
The Case For Defending America
24 January 2002 2002 Ron Paul 1:39
Our presence in the Persian Gulf is not necessary to provide for America’s defense. Our presence in the region makes all Americans more vulnerable to attacks and defending America much more difficult. The real reason for our presence in the Persian Gulf, as well as our eagerness to assist in building a new Afghan government under U.N. authority, should be apparent to us all. Stuart Eizenstat, Under Secretary of Economics, Business and Agricultural Affairs for the previous administration, succinctly stated U.S. policy for Afghanistan testifying before the Senate Foreign Relations Trade Committee October 13, 1997. He said, “One of five main foreign policy interests in the Caspian region is to continue support for U.S. companies and the least progress has been made in Afghanistan, where gas and oil pipeline proposals designed to carry Central Asian energy to world markets have been delayed indefinitely pending establishment of a broad-based, multiethnic government.”
Asia
The Case For Defending America
24 January 2002 2002 Ron Paul 1:46
U.S. military planners are making preparations for our troops to stay in Central Asia for a long time. A long time could mean 50 years. We have been in Korea for that long and we have been in Japan and Europe even longer. But the time will come when we will wear out our welcome and have to leave these areas. The Vietnam War met with more resistance, and we left relatively quickly in a humiliating defeat. Similarly, episodes of a more minor nature occurred in Somalia and Lebanon.
Asia
Statement on the Argentine crisis
February 6 2002 2002 Ron Paul 4:6
Argentina is just the latest example of the folly of IMF policies. Only three years ago the world economy was rocked by an IMF-created disaster in Asia. The IMF regularly puts taxpayers on the hook for the mistakes of the big banks. Oftentimes, Mr. Chairman, IMF funds end up in the hands of corrupt dictators who use the taxpayer-provided largesse to prop up their regimes by rewarding their supporters and depriving their opponents access to capital.
Asia
Statement on the Argentine crisis
February 6 2002 2002 Ron Paul 4:10
The only constituency for the IMF are the huge multinational banks and corporations. Big banks used IMF funds- taxpayer funds- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It’s a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
Asia
Before We Bomb Iraq...
February 26, 2002 2002 Ron Paul 9:2
There’s been talk of sabotage, psychological warfare, arming domestic rebels, killing Hussein, and even an outright invasion of Iraq with hundreds of thousands of US troops. All we hear about in the biased media is the need to eliminate Saddam Hussein, with little regard for how this, in itself, might totally destabilize the entire Middle East and Central Asia. It could, in fact, make the Iraq “problem” much worse.
Asia
Statement on Ending US Membership in the IMF
February 27, 2002 2002 Ron Paul 10:4
Argentina is just the latest example of the folly of IMF policies. Only four years ago the world economy was rocked by an IMF-created disaster in Asia. The IMF regularly puts the taxpayer on the hook for the mistakes of the big banks. Oftentimes, Mr. Speaker, IMF funds end up in the hands of corrupt dictators who use our taxpayer-provided largesse to prop up their regimes by rewarding their supporters and depriving their opponents of access to capital.
Asia
Statement on Ending US Membership in the IMF
February 27, 2002 2002 Ron Paul 10:8
In all my years in Congress, I have never been approached by a taxpayer asking that he or she be forced to provide more subsidies to Wall Street executives and foreign dictators. The only constituency for the IMF is the huge multinational banks and corporations. Big banks used IMF funds- taxpayer funds- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It’s a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
Asia
America’s Entangling Alliances in the Middle East
April 10, 2002 2002 Ron Paul 21:15
It’s costly, to say the least. Already our military budget has sapped domestic spending and caused the deficit to explode. But the greatest danger is that one day these contained conflicts will get out of control. Certainly the stage is set for that to happen in the Middle East and south central Asia. A world war is a possibility that should not be ignored. Our policy of subsidizing both sides is ludicrous. We support Arabs and Jews, Pakistanis and Indians, Chinese and Russians. We have troops in 140 countries around the world just looking for trouble. Our policies have led us to support Al Qaeda in Kosovo and bomb their Serb adversaries. We have, in the past, allied ourselves with bin Laden, as well as Saddam Hussein, only to find out later the seriousness of our mistake. Will this foolishness ever end?
Asia
Predictions
24 April 2002 2002 Ron Paul 25:11
Major moves will be made by China, India, Russia, and Pakistan in Central Asia to take advantage of the chaos for the purpose of grabbing land, resources, and strategic advantages sought after for years.
Asia
Statement Opposing Taxpayer Funding of Multinational Development Banks
May 1, 2002 2002 Ron Paul 28:1
Mr. Speaker, Congress can perform a great service to the American taxpayer, as well as citizens in developing countries, by rejecting HR 2604, which reauthorizes two multilateral development banks, the International Fund for Agricultural Development (IFAD) and the Asian Development Fund (AsDF).
Asia
International Fund For Agricultural Development
1 May 2002 2002 Ron Paul 29:1
Mr. PAUL. Mr. Speaker, Congress can perform a great service to the American taxpayer, as well as citizens in developing countries, by rejecting HR 2604, which reauthorizes two multilateral development banks, the International Fund for Agricultural Development (IFAD) and the Asian Development Fund (AsDF).
Asia
BAD TAX POLICY SENDS COMPANIES OVERSEAS
June 11, 2002 2002 Ron Paul 55:12
Not so fast, Sens. Baucus and Grassley are saying. They want to stop “corporate expatriations,” even though they keep American jobs in America and help U.S. companies compete with their counterparts in Europe and Asia.
Asia
Is America a Police State?
June 27, 2002 2002 Ron Paul 64:74
Maybe there is no real desire to remove the excuse for our worldwide imperialism, especially our current new expansion into central Asia or the domestic violations of our civil liberties. Today’s conditions may well be exactly what our world commercial interests want. It’s now easy for us to go into the Philippines, Columbia, Pakistan, Afghanistan, or wherever in pursuit of terrorists. No questions are asked by the media or the politicians- only cheers. Put in these terms, who can object? We all despise the tactics of the terrorists, so the nature of the response is not to be questioned!
Asia
25 July 2002
Monetary Practices 2002 Ron Paul 78:15
Sean Corrigan, a principal in Capital Insight, a UK-based financial consultancy, has recently detailed the consequences of the expansion that came in “. . . autumn 1998, when the world economy, still racked by the problems of the Asian credit bust over the preceding year, then had to cope with the Russian default and the implosion of the mighty Long-Term Capital Management.” Corrigan goes on: “Over the next eighteen months, the Fed added $55 billion to its portfolio of Treasuries and swelled repos held from $6.5 billion to $22 billion . . . [T]his translated into a combined money market mutual fund and commercial bank asset increase of $870 billion to the market peak, of $1.2 trillion to the industrial production peak, and of $1.8 trillion to date — twice the level of real GDP added in the same interval” (http://www.mises.org/ fullarticle.asp?control=754).
Asia
The Price Of War
5 September 2002 2002 Ron Paul 83:28
This continuous escalation of our involvement overseas has been widespread. We have been in Korea for more than 50 years. We have promised to never back away from the China-Taiwan conflict over territorial disputes. Fifty-seven years after World War II we still find our military spread throughout Europe and Asia. And now the debate ranges over whether our national security requires that we, for the first time, escalate this policy of intervention to include anticipatory self-defense and preemptive war.
Asia
Another United Nations War
25 February 2003 2003 Ron Paul 24:10
From my viewpoint, the worst scenario would be for the United Nations to sanction this war, which may well occur if we offer enough U.S. taxpayer money and Iraqi oil to the reluctant countries. If that happens, we could be looking at another 58-year occupation, expanded Middle East chaos, or a dangerous spread of hostility to all of Asia or even further.
Asia
Legislation To Withdraw The United States From The Bretton Woods Agreement
17 July 2003 2003 Ron Paul 84:4
Argentina is just the latest example of the folly of IMF policies. Five years ago the world economy was rocked by an IMF-created disaster in Asia. The IMF regularly puts the taxpayer on the hook for the mistakes of the big banks. Oftentimes, Mr. Speaker, IMF funds end up in the hands of corrupt dictators who use our taxpayer-provided largesse to prop up their regimes by rewarding their supporters and depriving their opponents of access to capital.
Asia
Legislation To Withdraw The United States From The Bretton Woods Agreement
17 July 2003 2003 Ron Paul 84:8
In all my years in Congress, I have never been approached by a taxpayer asking that he or she be forced to provide more subsidies to Wall Street executives and foreign dictators. The only constituency for the IMF is the huge multinational banks and corporations. Big banks used IMF funds — taxpayer funds — to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It’s a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
Asia
Opposing H.R. 557
17 March 2004 2004 Ron Paul 19:10
(2) Department of State, Office of the Assistant Secretary for Near Eastern and South Asian Affairs Action Memorandum from Richard W. Murphy to Lawrence S. Eagleburger. “EXIM [Export-Import] Bank Financing for Iraq” [Includes Letter From Lawrence S. Eagleburger to William Draper, Dated December 24, 1983], December 22, 1983.
Asia
Government Spending – A Tax on the Middle Class
July 8, 2004 2004 Ron Paul 52:15
This is no small matter. In just the first 24 weeks of this year the M3 money supply increased 428 billion dollars, and 700 billion dollars in the past year. M3 currently is rising at a rate of 10.5%. In the last seven years the money supply has increased 80%, as M3 has soared 4.1 trillion dollars. This bizarre system of paper money worldwide has allowed serious international imbalances to develop. We owe just four Asian countries 1.5 trillion dollars as a consequence of a chronic and staggering current account deficit now exceeding 5% of our GDP. This current account deficit means Americans must borrow 1.6 billion dollars per day from overseas just to finance this deficit. This imbalance, which until now has permitted us to live beyond our means, eventually will give us higher consumer prices, a lower standard of living, higher interest rates, and renewed inflation.
Asia
Where To From Here?
November 20, 2004 2004 Ron Paul 81:1
The election of 2004 is now history. It’s time to ponder our next four years. Will our country become freer, richer, safer, and more peaceful, or will we continue to suffer from lost civil liberties, a stagnant economy, terrorist threats, and an expanding war in the Middle East and central Asia? Surely the significance of the election was reflected in its intensity and divisiveness.
Asia
Where To From Here?
November 20, 2004 2004 Ron Paul 81:30
Expenditures for foreign adventurism, as advocated by the neo-cons who direct our foreign policy, have received a shot in the arm with the recent election. Plans have been in the workings for expanding our presence throughout the Middle East and central Asia. Iran is the agreed-on next target for those who orchestrated the Iraq invasion and occupation.
Asia
Where To From Here?
November 20, 2004 2004 Ron Paul 81:47
First : The United States should never go to war without an express Declaration by Congress. If we had followed this crucial but long-forgotten rule the lives lost in Korea, Vietnam, the Persian Gulf, and Iraq might have been prevented. And instead of making us less secure, this process would make us more secure. Absent our foreign occupations and support for certain governments in the Middle East and central Asia over the past fifty years, the 9-11 attack would have been far less likely to happen.
Asia
Introduction of the Industrial Hemp Farming Act
June 22, 2005 2005 Ron Paul 70:4
The United States is the only industrialized nation that prohibits industrial hemp cultivation. The Congressional Research Service has noted that hemp is grown as an established agricultural commodity in over 30 nations in Europe, Asia, and North America. My Industrial Hemp Farming Act will end this nonsensical restriction on American farmers and allow them to grow industrial hemp in accordance with state law.
Asia
Staying or Leaving
October 7, 2005 2005 Ron Paul 102:9
We lost a war in Vietnam, and the domino theory that communism would spread throughout southeast Asia was proven wrong. Today, Vietnam accepts American investment dollars and technology. We maintain a trade relationship with Vietnam that the war never achieved.
Asia
Illegal Drug Problem — Part 1
9 March 2006 2006 Ron Paul 11:8
The overwhelming number of people in the country now are saying that we ought to allow marijuana to be used for very sick patients. Not too long ago, just this week, I had a meeting with a student that came from a central Asian country. He was an exchange student. He says the big subject at his school was, what is the age limit when I can drink alcohol? They would ask him that and he said, there is no age limit.
Asia
Gold And The U.S. Dollar
25 April 2006 2006 Ron Paul 23:15
This recent deception failed just as it did in the 1960s when our government tried to hold gold artificially low at $35 an ounce. But since they could not truly repeal the economic laws regarding money, just as many central bankers sold, others bought. It is fascinating that the European central banks sold gold while the Asian central banks bought it over the last several years.
Asia
Why Are Americans So Angry?
June 29, 2006 2006 Ron Paul 52:58
We have provided a tremendous incentive for Russia and China, and others like Iran, to organize through the Shanghai Cooperation Organization. They entertain future challenges to our plans to dominate South East Asia, the Middle East, and all its oil.
Asia
Escalation Is Hardly The Answer
11 January 2007 2007 Ron Paul 12:4
Astonishingly, American taxpayers now will be forced to finance a multi- billion dollar jobs program in Iraq. Suddenly the war is about jobs. We export our manufacturing jobs to Asia, and now we plan to export our welfare jobs to Iraq, all at the expense of the poor and the middle class here at home.
Asia
Does Anybody Care? Has Anybody Noticed?
7 February 2007 2007 Ron Paul 23:29
That acts by criminal gangs do not justify remaking the Middle East and Central Asia?
Asia
Introduction Of The Industrial Hemp Farming Act
13 February 2007 2007 Ron Paul 25:4
The United States is the only industrialized nation that prohibits industrial hemp cultivation. The Congressional Research Service has noted that hemp is grown as an established agricultural commodity in over 30 nations in Europe, Asia, and North America. My Industrial Hemp Farming Act will relieve this unique restriction on American farmers and allow them to grow industrial hemp in accord with State law.
Asia
INDUSTRIAL HEMP FARMING ACT
April 2, 2009 2009 Ron Paul 44:4
The Congressional Research Service has noted that hemp is grown as an established agricultural commodity in over 30 nations in Europe, Asia, North America, and South America. The Industrial Hemp Farming Act will relieve this unique restriction on American farmers and allow them to grow industrial hemp in accord with State law.
Asia
CURRENT CONDITIONS OR JUST A BAD DREAM
May 19, 2009 2009 Ron Paul 56:5
We police our world empire with troops on 700 bases and in 130 countries around the world. A dangerous war now spreads throughout the Middle East and Central Asia. Thousands of innocent people being killed, as we become known as the torturers of the 21st century.
Asia
MISTAKES: JUST A FEW!
June 3, 2009 2009 Ron Paul 63:13
The deeply flawed neoconservative foreign policy of expanding our militarism in the Middle East and Central Asia continues.
Asia
- Communist China shouldn't be financed by US
10 November 1997 Texas Straight Talk 10 November 1997 verse 13 ... Cached
And, who knows, maybe next year - when I will again have the opportunity to introduce my amendment to end US subsidy of China - we will see more Members of Congress willing to stop handing the monster of Asia a $4 billion check. Ron Paul represents the 14th District of Texas. His office may be contacted at 203 Cannon, Washington, DC 20515.
Asia
Asian economic crisis result of suppressed liberty
25 May 1998 Texas Straight Talk 25 May 1998 verse 1 ... Cached
Asian economic crisis result of suppressed liberty
Asia
Asian economic crisis result of suppressed liberty
25 May 1998 Texas Straight Talk 25 May 1998 verse 3 ... Cached
Along with the Berlin Wall, the communist system came crashing down in 1989. But in the same year, the Japanese "economic miracle" of the 1970's and the 1980's, with its `guaranteed' safeguards, turned out to be a lot more vulnerable than any investor wanted to believe. The possibility of what is happening in Asia spreading next to Europe, and then to America, should not be summarily dismissed.
Asia
Asian economic crisis result of suppressed liberty
25 May 1998 Texas Straight Talk 25 May 1998 verse 4 ... Cached
The root of the problem is found in the flawed premise upon which economic systems around the world have been based for the last century. For us to escape the economic malaise being experienced in Asia, we must address those fundamental problems not look for quick-fixes.
Asia
Asian economic crisis result of suppressed liberty
25 May 1998 Texas Straight Talk 25 May 1998 verse 13 ... Cached
The philosophy of the free market holds the solution to the exploding East Asian crisis, yet few are willing to consider the philosophy of liberty.
Asia
Greenspan Nominated to a Fourth Term
17 January 2000 Texas Straight Talk 17 January 2000 verse 10 ... Cached
Every time the market in the past three years threatened to bring on a correction, Chairman Greenspan rushed to the rescue - to the delight of everyone in Washington and New York - with a massive influx of new money and lower rates. In 1997 the excuse was the Asian crisis; in 1998 it was the failure of Long Term Capital Management; and in 1999 it was the potential Y2K crisis. In the past 3 months, bank credit has increased at a greater than 30% annual rate. Greenspan, in this past quarter, may have talked about "tight money" and even raised overnight rates, but he was quite active inflating the currency.
Asia
China Bill Is Not Free Trade
29 May 2000 Texas Straight Talk 29 May 2000 verse 9 ... Cached
Another example that shows what happened to the contents of this so called free trade bill is seen in the provision putting American taxpayers on the hook for nearly $100 million dollars in new spending for radio broadcasts aimed not just at China but other Asian countries. So much for our commitment not to spend Social Security surpluses on other government programs.
Asia
U.S. Armed Forces Should Protect American Soil
22 October 2001 Texas Straight Talk 22 October 2001 verse 5 ... Cached
We must understand that U.S. troops currently are permanently or semi-permanently stationed in more than one hundred countries. As one prominent columnist recently noted, the 15 years since the collapse of the Soviet empire and the end of the Cold War have hardly been peaceful for the United States. Our armed forces have been engaged in dozens of conflicts, including Iraq, Somalia, Haiti, and Kosovo. We currently maintain active military commitments throughout the Middle East, Colombia and Central America, the Balkans, Eastern Europe, central Asia, and the Taiwan Strait. We undoubtedly are involved in more regional conflicts than any other time in our history; in fact, our present obligations make the east vs.west Cold War seem relatively manageable! Yet our military is only half the size it was during the Reagan era. This imbalance between our shrinking armed forces and our ever-growing military role in foreign disputes leaves our own borders woefully unprotected.
Asia
Argentine Default and the IMF
14 January 2002 Texas Straight Talk 14 January 2002 verse 6 ... Cached
In truth, Congress funds the IMF because of the corporate interests it subsidizes. The huge multinational banks and corporations love the IMF. Big banks used IMF funds- taxpayer funds- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It's a familiar game in Washington, with corporate welfare disguised as compassion for the poor.
Asia
Predictions for an Unwritten Future
29 April 2002 Texas Straight Talk 29 April 2002 verse 16 ... Cached
China, India, Russia, and Pakistan will take advantage of the chaos for the purpose of grabbing land, resources, and strategic advantages they have sought for years in central Asia.
Asia
The IMF Con
27 September 2004 Texas Straight Talk 27 September 2004 verse 5 ... Cached
The real purpose of the IMF is to channel tax dollars to politically-connected companies. The huge multinational banks and corporations in particular love the IMF, as both used IMF funds-- taxpayer funds-- to bail themselves out from billions in losses after the Asian financial crisis. Big corporations obtain lucrative contracts for a wide variety of construction projects funded with IMF loans. It's a familiar game in Washington, where corporate welfare is disguised as compassion for the poor.
Asia
Government Debt- The Greatest Threat to National Security
25 October 2004 Texas Straight Talk 25 October 2004 verse 7 ... Cached
The federal government issues U.S. Treasury bonds to finance its deficit spending. The largest holders of those Treasury notes-- our largest creditors-- are foreign governments and foreign individuals. Asian central banks and investors in particular, especially China, have been happy to buy U.S. dollars over the past decade. But foreign governments will not prop up our spending habits forever. Already, Asian central banks are favoring Euro-denominated assets over U.S. dollars, reflecting their belief that the American economy is headed for trouble. It’s akin to a credit-card company cutting off a borrower who has exceeded his credit limit one too many times.
Asia
Gold Exposes the Dollar
06 December 2004 Texas Straight Talk 06 December 2004 verse 7 ... Cached
The world financial markets are betting against the dollar. Our creditors, particularly Asian central banks, are losing their appetite for U.S. Treasuries. Our federal government’s huge debt and voracious appetite for deficit spending make our economy dependent on the actions of foreign governments and central bankers. Yet few Americans realize the extent to which their own government has sold out American sovereignty by borrowing money overseas.
Asia
Another UN Insult
03 January 2005 Texas Straight Talk 03 January 2005 verse 4 ... Cached
You may have heard one United Nations official comment that America is being stingy with its offer of millions of dollars in aid for tsunami victims. His attitude toward your money is typical of globalist bureaucrats, who ultimately view the UN as a means for transferring wealth from America to other nations. Americans are very generous people, and undoubtedly will donate tens or even hundreds of millions to private organizations to help the victims of this terribly tragedy in Asia. We hardly need the UN to chide us about our supposed lack of generosity.
Asia
Private Help for Tsunami Victims
10 January 2005 Texas Straight Talk 10 January 2005 verse 3 ... Cached
In the past ten days, Americans have donated several hundred million dollars to help Asian tsunami victims. Despite this outpouring of support for private charities, the Bush administration has pledged to send at least $350 million in federal aid, a figure that is open-ended and certain to climb. It’s admirable that Americans have been so willing to open their hearts and pocketbooks for the victims of this enormous tragedy, but it’s not the job of the federal government to make a show of generosity to the world with your tax dollars. Remember, government officials cannot be generous or charitable, because the money they dispense does not belong to them.
Asia
Private Help for Tsunami Victims
10 January 2005 Texas Straight Talk 10 January 2005 verse 10 ... Cached
The Asian tsunami is the worst natural disaster of our lifetimes, and we should all do everything we can to help. Investigate the charities and private groups involved, and send what you can. But let’s get governments and the United Nations out of the way, please.
Asia
Deficits Make You Poorer
14 March 2005 Texas Straight Talk 14 March 2005 verse 10 ... Cached
The economic situation today is reminiscent of the 1970s. The economic malaise of that era resulted from the profligacy of the 1960s, when Congress wildly expanded the welfare state and fought an expensive war in southeast Asia. Large federal deficits led to stagflation-- a combination of high price inflation, high interest rates, high unemployment, and stagnant economic growth. I fear that today’s economic fundamentals are worse than the 1970s: federal deficits are higher, the supply of fiat dollars is much greater, and personal savings rates are much lower. If the federal government won’t stop spending, borrowing, printing, and taxing, we may find ourselves in far worse shape than 30 years ago.
Asia
Borrowing, Spending, Counterfeiting
22 August 2005 Texas Straight Talk 22 August 2005 verse 8 ... Cached
Finally, we face a reordering of the entire world economy. China, Japan, and Asia in general have been happy to hold U.S. debt instruments in recent decades, but they will not prop up our spending habits forever. Foreign central banks are increasingly reluctant to hold more U.S. dollars, understanding that American leaders do not have the discipline to maintain a stable currency. When the rest of the world finally abandons the dollar as the global reserve currency, both Congress and American consumers will find borrowing money a more expensive proposition.
Asia
The Real Washington Scandal
06 February 2006 Texas Straight Talk 06 February 2006 verse 5 ... Cached
New Federal Reserve Chairman Ben Bernanke faces a difficult dilemma. Our overseas creditors, particularly Asian central banks, already hold billions of U.S. dollars and are losing their appetite for lending us more money. They are wary of our enormous federal deficits and reckless economic policies. Ask yourself a simple question: would you loan the U.S. government money, given its spending habits? It's clear we can't go on borrowing $1.8 billion every day to finance the government!
Asia
The Declining Dollar Erodes Personal Savings
15 May 2006 Texas Straight Talk 15 May 2006 verse 8 ... Cached
The world financial markets are betting against the dollar and against Mr. Bernanke’s chances of correcting the imbalances caused by Alan Greenspan. Our creditors, particularly Asian central banks, are losing their appetite for U.S. Treasuries. Our federal government’s huge debt and voracious appetite for deficit spending make our economy dependent on the actions of foreign governments and central bankers. Yet few Americans realize the extent to which their own government has sold out American sovereignty by borrowing money overseas.
Asia
The World's Reserve Currency
01 January 2007 Texas Straight Talk 01 January 2007 verse 6 ... Cached
More importantly, our greatest benefactors for the last twenty years-- Asian central banks-- have lost their appetite for holding U.S. dollars. China, Japan, and Asia in general have been happy to hold U.S. debt instruments in recent decades, but they will not prop up our spending habits forever. Foreign central banks understand that American leaders do not have the discipline to maintain a stable currency. When the rest of the world finally abandons the dollar as the global reserve currency, both Congress and American consumers will find borrowing money a more expensive proposition.
Texas Straight Talk from 20 December 1996 to 23 June 2008 (573 editions) are included in this Concordance. Texas Straight Talk after 23 June 2008 is in blog form on Rep. Paul’s Congressional website and is not included in this Concordance.
Remember, not everything in the concordance is Ron Paul’s words. Some things he quoted, and he added some newspaper and magazine articles to the Congressional Record. Check the original speech to see.