U.S. Rep. Ron Paul | Japan |
Japan
State Of The Republic
28 January 1998 1998 Ron Paul 2:74
But when push comes to shove, the markets always win out. Interest rates are less than one percent in Japan, but have not prompted borrowers to come forth nor bankers to lend. The proposed $25 billion injection by the Bank of Japan will not solve the problem either. Even central bankers cannot push on a string.
Japan
Access To Energy
25 February 1998 1998 Ron Paul 19:6
Ted Robinson went on to lead teams of engineers who designed and built similar Union Carbide plants in Puerto Rico, Scotland, Belgium, Brazil, Japan, and India. He is buried in an alpine glacier near the top of Mont Blanc on the border between France and Italy, which contains the remains of the Air India Boeing 707 that crashed there on January 24, 1966. The cause of this crash is not known for certain. It is believed to have been the work of assassins that killed the Indian physicist Bhaba, who was then head of the nuclear energy program of India and was also on the airplane.
Japan
The Bubble
28 April 1998 1998 Ron Paul 39:15
Think of this: Money can be borrowed in Japan at Depression-era rates of 1 percent and then reinvested here in the United States either in more treasury debt earning 5 or 6 percent, or reinvested in our stock market, which is currently climbing at a 20 percent annualized rate. This sounds like a perfect deal for today’s speculators, but there is nothing that guarantees this process will continue for much longer. Perfect situations never last forever.
Japan
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.
Japan
The Bubble
28 April 1998 1998 Ron Paul 39:30
Even though Japan first recognized signs of difficulty nine years ago, their problems linger because they have not allowed the liquidation of debt, or the elimination of over capacity, or the adjustment for real estate prices that would occur if the market were permitted to operate free of government intervention. The U.S. did the same thing in the 1930s, and I suspect we will do exactly what Japan is doing once our problems become more pressing. With our own problems from the inflation of the last 15 years now becoming apparent, their only answer so far is to inflate even more.
Japan
The Bubble
28 April 1998 1998 Ron Paul 39:31
In its effort to re-energize the economy, the Bank of Japan is increasing its reserves at a 51 percent rate. This may be the greatest effort to “inflate” and economy back to health in all of history. Japan has inflated over the years and will not permit a full correction of their mal-investment. The Bank of Japan is doing everything possible to inflate again, but even with interest rates below 1 percent there are few takers.
Japan
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.
Japan
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.
Japan
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:2
ECONOMIC FALLACY Belief that an artificial boom, brought about by Central Bank credit creation, can last forever is equivalent to finding the philosopher’s stone. Wealth cannot be created out of thin air, and new money and credit, although it can on the short-term give an illusion of wealth creation, is destructive of wealth on the long run. This is what we are witnessing in Indonesia — the long run — and it’s a much more destructive scenario than the currently collapsing financial system in Japan. All monetary inflation, something all countries of the world are now participating in, must by their very nature lead to an economic slump.
Japan
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:3
The crisis in Indonesia is the predictable consequence of decades of monetary inflation. Timing, severity, and duration of the correction, is unpredictable. These depend on political perceptions, realities, subsequent economic policies, and the citizen’s subjective reaction to the ongoing events. The issue of trust in the future and concerns for personal liberties greatly influences the outcome. Even a false trust, or an ill-founded sense of security from an authoritarian leader, can alter the immediate consequences of the economic corrections, but it cannot prevent the inevitable contraction of wealth as is occurring slowly in the more peaceful Japan and rapidly and violently in Indonesia.
Japan
The Indonesia Crisis
19 May 1998 1998 Ron Paul 52:15
Effort to prop up an ailing economy after the financial bubble has been popped, prolongs the agony and increases the severity of the correction. Japan’s bubble burst in 1989 and there is not yet any sign of the cleansing of the system of bad debt and mal-investment which is necessary before sound growth will resume. And Indonesia is embarking on the same predictable course. Restoration of free markets, and establishing sound monetary policy has not yet been considered. The people of Indonesia and the rest of the world should prepare for the worst as this crisis spreads. For Congress, the most important thing is to forget the notion that further taxing American workers to finance a bail-out, that won’t work, is the worst policy of all for us to pursue.
Japan
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.
Japan
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:2
ECONOMIC FALLACY Belief that an artificial boom, brought about by Central Bank credit creation, can last forever is equivalent to finding the philosopher’s stone. Wealth cannot be created out of thin air. New money and credit, although it can on the short-term give an illusion of wealth creation, is destructive of wealth on the long run. This is what we are witnessing in Indonesia — the long run — and it’s a much more destructive scenario than the currently collapsing financial system in Japan. All monetary inflation, something nearly all countries of the world are now participating in, must by their very nature lead to an economic slump.
Japan
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:3
The crisis in Indonesia is the predictable consequence of decades of monetary inflation. Timing, severity, and duration of a correction, is unpredictable. These depend on political perceptions, realities, subsequent economic policies, and the citizen’s subjective reaction to the ongoing events. The issue of trust in the future and concerns for personal liberties greatly influence the outcome. Even a false trust, or an ill-founded sense of security from an authoritarian leader, can alter the immediate consequences of the economic corrections, but it cannot prevent the inevitable contraction of wealth as is occurring slowly in the more peaceful Japan and rapidly and violently in Indonesia.
Japan
The Indonesia Crisis
22 May 1998 1998 Ron Paul 54:15
Effort to prop up an ailing economy after the financial bubble has been popped, prolongs the agony and increases the severity of the correction. Japan’s bubble burst in 1989, and there is not yet any sign of the cleansing of the system of bad debt and mal-investment which is necessary before sound growth will resume. And Indonesia is embarking on the same predictable course. Restoration of free markets, including the establishment of a sound monetary policy, has not yet been considered. The people of Indonesia and the rest of the world should prepare for the worst as this crisis spreads. For Congress, the most important thing is to forget the notion that further taxing American workers to finance a bail-out will work. It won’t work — it is the worst policy of all for us to pursue.
Japan
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:1
Mr. PAUL. Mr. Speaker, it has recently come to my attention that James Grant has made a public warning regarding monetary crises. In an Op-Ed entitled “Every Currency Crumbles” in The New York Times on Friday, June 19, 1998, he explains that monetary crises are as old as money. Some monetary systems outlive others: the Byzantine empire minted the bezant, the standard gold coin, for 800 years with the same weight and fineness. By contrast, the Japanese yen, he points out, is considered significantly weak at 140 against the U.S. dollar now to warrant intervention in the foreign exchange markets but was 360 as recently as 1971. The fiat U.S. dollar is not immune to the same fate as other paper currencies. As Mr. Grant points out, “The history of currencies is unambiguous. The law is, Ashes to ashes and dust to dust.”
Japan
Every Currency Crumbles
24 June 1998 1998 Ron Paul 65:4
Monetary crises are almost as old as money. What is different today is the size of these episodes. It isn’t every monetary era that features recurrent seismic shifts in the exchange values of so-called major currencies. On Wednesday morning, after coordinated American and Japanese intervention, the weakling yen became 5 percent less weak in a matter of hours.
Japan
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.
Japan
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.
Japan
World Financial Markets
1 October 1998 1998 Ron Paul 104:6
This cannot be prevented. All that we can hope for is to not prolong the agony, as our monetary and fiscal policies did in the U.S. in the 1930s and as they are currently doing in Japan and elsewhere in the world.
Japan
Monetary Policy
16 October 1998 1998 Ron Paul 120:9
That is what we are witnessing today. The world-wide fragile financial system is now collapsing and tragically the only cry is for more credit inflation because the cause of our dilemma is not understood. Attempts at credit stimulation with interest rates below 1 percent is doing nothing for Japan’s economy and for good reasons. it is the wrong treatment for the wrong diagnosis.
Japan
How Long Will The War With Iraq Go On Before Congress Notices?
2 February 1999 1999 Ron Paul 3:1
Mr. PAUL. Mr. Speaker, I ask my fellow colleagues, how long will the war go on before Congress notices? We have been bombing and occupying Iraq since 1991, longer the occupation of Japan after World War II. Iraq has never committed aggression against the United States.
Japan
Congress Relinquishing The Power To Wage War
2 February 1999 1999 Ron Paul 4:70
Because of the significance of the dollar to the world economy, our inflation and the dollar-generated bubble is much more dangerous than single currency inflation such as Mexico, Brazil, South Korea, Japan and others. The significance of these inflations, however, cannot be dismissed.
Japan
Congress Relinquishing The Power To Wage War
2 February 1999 1999 Ron Paul 4:81
The most astute money manager cannot balance inflation against deflation as long as there is continued credit expansion. The system inevitably collapses, as it finally did in Japan in the 1990s. Even the lack of the CPI inflation as reported by the Federal Reserve is suspect.
Japan
Honoring The Victoria High School Victoriadores, Victoria, TX
19 May 1999 1999 Ron Paul 50:3
The taste of victory was so sweet, the Victoriadores decided to take the International Championship, competing against Japan, Australia, New Zealand, Channel Islands, Mexico and South America. The team won first and second place in Military and High Kick, with New Zealand placing third.
Japan
Free Trade
27 July 1999 1999 Ron Paul 82:3
Open and free trade with all nations, short of war, should be pursued for two specific reasons. One, it’s a freedom issue; the right of the citizens of a free country to spend their money any way they see fit, anywhere in the world. And two, free trade provides the best deal for consumers allowing each to cast dollar votes with each purchase respecting quality and price. The foreign competition is a blessing in that it challenges domestic industries to do better. The Japanese car industry certainly resulted in American car manufacturers offering more competitive products.
Japan
A Republic, If You Can Keep It
31 January 2000 2000 Ron Paul 2:110
There are many reasons to believe the economic slowdown will be worldwide, since the dollar is the reserve currency of the world. An illusion about our dollar’s value has allowed us to prop up Europe and Japan in this pass decade during a period of weak growth for them, but when reality sets in, economic conditions will deteriorate. Greater computer speed, which has helped to stimulate the boom of the 1990s, will work in the opposite direction as all of the speculative positions unwind, and that includes the tens of trillions of dollars in derivatives.
Japan
REVIEW ARTICLE ON ‘NEW MATH’
February 10, 2000 2000 Ron Paul 7:10
Leinward is not saying that the federally approved programs cover the material taught in too-performing countries such as Japan or Hungary or that the programs contain complete coverage of elementary and secondary school math. What he and his fellow panelists want is a watered-down program that all American students — as currently trained — can master.
Japan
REVIEW ARTICLE ON ‘NEW MATH’
February 10, 2000 2000 Ron Paul 7:12
Here we have the central difference between the two sides. The rigorous curriculum side says that, like Japan, Taiwan, and Singapore, we can have algebra for all, preparing students for technical careers and college-level work. The water-it-down side says U.S. teachers and students aren’t capable of teaching and learning algebra.
Japan
WHAT IS FREE TRADE?
May 2, 2000 2000 Ron Paul 29:4
The first reason I would like to mention is a moral reason. There is a moral element involved in trade, because when governments come in and regulate how citizens spend their money, they are telling them what they can do or cannot do. In a free society, individuals who earn money should be allowed to spend the money the way they want. So if they find that they prefer to buy a car from Japan rather than Detroit, they basically have the moral right to spend their money as they see fit and those kinds of choices should not be made by government. So there is a definite moral argument for free trade.
Japan
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.
Japan
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.
Japan
WARNING ABOUT FOREIGN POLICY AND MONETARY POLICY
October 12, 2000 2000 Ron Paul 86:10
We have heard that the 1990s was a different decade, it was a new era, economy, exactly what we heard throughout the decade prior to the collapse of the markets in Japan. The markets have now been down more than 50 percent in Japan for more than 10 years, and there is no sign of significant recovery there.
Japan
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.
Japan
ECONOMIC UPDATE
December 4, 2000 2000 Ron Paul 97:5
* Take, for instance, what is happening in Japan today. There is no response whatsoever. They take interest rates down below one percent, and they cannot generate economic activity to really get them out of their slump.
Japan
ECONOMIC UPDATE
December 4, 2000 2000 Ron Paul 97:29
* The question is what should one expect the Federal Reserve Board to eventually do? We can expect it to continue to inflate as they have always chosen with every crisis. There’s no evidence that Alan Greenspan would choose to do anything else regardless of his expression of concern about inflation and the value of the dollar. Greenspan still believes he can control the pain and produce a weakened economy that will not get out of control. But there’s no way that he can guarantee that the United States might not slip into a prolonged lethargy, similar to what Japan is now experiencing. We can be certain that Congress will accommodate with whatever seems to be necessary by bailing out a weakened financial sector.
Japan
CHALLENGE TO AMERICA: A CURRENT ASSESSMENT OF OUR REPUBLIC —
February 07, 2001 2001 Ron Paul 7:45
In an economic downturn, a large majority of our political leaders believe that the ill effects of recession can be greatly minimized by monetary and fiscal policy. Although cutting taxes is always beneficial, spending one’s way out of a recession is no panacea. Even if some help is gained by cutting taxes or temporary relief given by an increase in government spending, they distract from the real cause of the downturn: previously pursued faulty monetary policy. The consequences of interest-rate manipulation in a recession-along with tax and spending changes-are unpredictable and do not always produce the same results each time they’re used. This is why interest rates of less than 1% and massive spending programs have not revitalized Japan’s economy or her stock market. We may well be witnessing the beginning of a major worldwide economic downturn, making even more unpredictable the consequence of conventional western-style central bank tinkering.
Japan
Manipulation Of Interest Rates Cause Economic Problems
20 March 2001 2001 Ron Paul 22:8
Take a look at what is happening in Japan today. Japan lowered their interest rates, too. They have been doing this for a long time. They are down to 0 percent, and nothing seems to be happening. Their stock market is at a level it was 16 years ago. We have to decide whether or not we may be moving into a similar situation. I think it is a very serious problem.
Japan
Manipulation Of Interest Rates Cause Economic Problems
20 March 2001 2001 Ron Paul 22:12
But the real problem with the inflation when one allows a central bank to destroy its money is twofold. One, it creates an overcapacity or overinvestment, excessive debt that always has to be wiped out and cleaned out of the situation, or economic growth cannot be resumed. Japan has not permitted this to happen, and economic growth has not resumed. That is the most important aspect because that causes the unemployment and that causes the harm to so many people.
Japan
A New China Policy
April 25, 2001 2001 Ron Paul 25:5
Throughout all of China’s history she has never pursued military adventurism far from her own borders. That is something that we cannot say about our own policy. China traditionally has only fought for secure borders predominantly with India, Russia, Japan, and in Korea against the United States, and that was only when our troops approached the Yaloo River.
Japan
A New China Policy
April 25, 2001 2001 Ron Paul 25:6
It should not go unnoticed that there was no vocal support from any of our allies for our spy missions along the Chinese coast. None of our allies bothered to condemn the action of the Chinese military aircraft, although it technically was the cause of the accident. Don’t forget that when a Russian aircraft landed in Japan in 1976, it was only after many months we returned the plane to Russia — in crates.
Japan
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.
Japan
The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:21
Economic growth can hide the ill effects of monetary inflation by holding some prices in check. But it can’t prevent the over-capacity and mal-investment which causes the economic downturn. Of course, the central bankers cling to the belief that they can somehow prevent the ugly corrections known as recessions. Economic growth, when artificially stimulated by monetary growth and low interest rates, generates the speculation we’ve seen in the stock, bond and real estate markets, along with excessive debt. Once the need for rectifying the over-capacity is recognized by the market, these imbalances are destined to be wiped out. Prolonging the correction phase with the Fed’s efforts to re-inflate by diligently working for a soft landing, or even to prevent a recession, only postpones the day the economy can return to sustained growth. This is a problem the United States had in the 1930s and one that Japan has experienced for more than a decade, with no end in sight.
Japan
The US Dollar and the World Economy
September 6, 2001 2001 Ron Paul 75:30
Refinancing especially helped the consumers to continue spending even in a slowing economy. It isn’t surprising for high credit-card debt to be frequently rolled into second mortgages, since interest on mortgage debt has the additional advantage of being tax-deductible. When financial conditions warrant it, leaving financial instruments (such as paper assets), and looking for hard assets (such as houses), is commonplace and is not a new phenomenon. Instead of the newly inflated money being directed toward the stock market, it now finds its way into the rapidly expanding real-estate bubble. This, too, will burst as all bubbles do. The Fed, the Congress, or even foreign investors can’t prevent the collapse of this bubble, any more than the incestuous Japanese banks were able to keep the Japanese “miracle” of the 1980s going forever.
Japan
Sometimes The Economy Needs A Setback
10 September 2001 2001 Ron Paul 77:11
Röpke, wrote before the 1946 Employment Act, which directed the United States government to cut recessions short — using tax breaks, for example, or cuts in interest rates — even if these actions stymie a salutary process of economic adjustment. No one doubts the humanity of this law. Yet equally, no one can doubt the inhumanity of a decade-long string a palliatives in Japan, intended to insulate the Japanese people from the consequences of their bubble economy of the 1980’s. Rather than suppressing the bust, the government has only managed to prolong it, for a decade and counting.
Japan
Statement on Counter-Terrorism Proposals and Civil Liberties
October 12, 2001 2001 Ron Paul 87:7
Among other disturbing proposals, H.R. 3108 grants the President the authority to seize all the property of any foreign national that the President determines is involved in hostilities against the United States. Giving the executive branch discretionary authority to seize private property without due process violates the spirit, if not the letter, of the fifth amendment to the Constitution. Furthermore, given that one of the (unspoken) reasons behind the shameful internment of Americans of Japanese ancestry in the 1940s was to reward favored interests with property forcibly taken from innocent landowners, how confident are we that future, less scrupulous executives will refrain from using this power to reward political allies with the property of alleged “hostile nationals?”
Japan
Foolishness Of Fiat
31 October 2001 2001 Ron Paul 92:4
Japan, failing to understand this, has tried for more than a decade to stimulate her economy and boost her stock market by printing money and increasing government spending, and it has not worked. Argentina, even with the hopes placed in its currency board, is nevertheless facing default on its foreign debt and a crisis in confidence. More bailouts from the IMF and U.S. dollar may temper the crisis for a while, but ultimately it will only hurt the dollar and the U.S. taxpayers.
Japan
Foolishness Of Fiat
31 October 2001 2001 Ron Paul 92:9
Since the Federal Reserve first panicked in early January, it has created $830 billion of fiat money out of thin air. The country is no richer. The economy is weaker. The stock market has continued downward, and unemployment has skyrocketed. Returning to deficit spending, as we already have, will not help us any more than it helped Japan, which continues to sink into economic morass.
Japan
The War On Terrorism
November 29, 2001 2001 Ron Paul 98:53
It is estimated that approximately 1,200 men have been arrested as a consequence of 9-11, yet their names and the charges are not available, and according to Ashcroft, will not be made available. Once again, he uses the argument that he’s protecting the privacy of those charged. Unbelievable! Due process for the detainees has been denied. Secret government is winning out over open government. This is the largest number of people to be locked up under these conditions since FDR’s internment of Japanese-Americans during World War II. Information regarding these arrests is a must, in a constitutional republic. If they’re terrorists or accomplices, just let the public know and pursue their prosecution. But secret arrests and silence are not acceptable in a society that professes to be free. Curtailing freedom is not the answer to protecting freedom under adverse circumstances.
Japan
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.
Japan
Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:6
The Japanese economy has been in a slump for over 10 years and shows no signs of recovery. The world economies are more integrated than ever before. When they are growing, it is a benefit to all, but in a contraction, globalism based on fiat money and international government assures that most economies will be dragged down together. Evidence is abundant that most countries of the world are feeling the pressure of a weakening economy.
Japan
Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:14
For over a year, the Fed has been massively inflating the money supply, and there is no evidence that it has done much good. This continuous influx of new credit instead delays the correction that must eventually come- the liquidation of bad debt, and the reduction of overcapacity. This is something Japan has not accomplished in 12 years of interest rates around 1%. The market must be left to eliminate the misdirected investments and allow the sound investments to survive.
Japan
Stimulating The Economy
February 7, 2002 2002 Ron Paul 5:20
Instead of moving in that direction of freer markets, the more problems the western countries face, the more government programs are demanded. If one looks at Europe, the United States, or even Japan as their economies weaken, government involvement in the economy increases. But in China and Russia, the horrible conditions that communism causes, ironically, made these two countries move toward freer markets when they encountered serious troubles. Even the central banks of these two countries today are accumulating gold, while western central banks are selling.
Japan
Steel Protectionism
Wednesday, March 13, 2002 2002 Ron Paul 15:5
What happened to the wonderful harmony that the WTO was supposed to bring to global trade? The administration has been roundly criticized since the steel decision was announced last week, especially by our WTO “partners.” The European Union is preparing to impose retaliatory sanctions to protect its own steel industry. EU trade commissioner Pascal Lamy has accused the U.S. of setting the stage for a global trade war, and several other steel producing nations such as Japan and Russia also have vowed to fight the tariffs. Even British Prime Minister Tony Blair, who has been tremendously supportive of the President since September 11th, recently stated that the new American steel tariffs were totally unjustified. Wasn’t the WTO supposed to prevent all this squabbling? Those of us who opposed U.S. membership in the WTO were scolded as being out of touch, unwilling to see the promise of a new global prosperity. What we’re getting instead is increased hostility from our trading partners and threats of economic sanctions from our WTO masters. This is what happens when we let government-managed trade schemes pick winners and losers in the global trading game. The truly deplorable thing about all of this is that the WTO is touted as promoting free trade!
Japan
Has Capitalism Failed?
July 9, 2002 2002 Ron Paul 66:6
But what is not discussed is the actual cause and perpetration of the excesses now unraveling at a frantic pace. This same response occurred in the 1930s in the United States as our policymakers responded to the very similar excesses that developed and collapsed in 1929. Because of the failure to understand the problem then, the depression was prolonged. These mistakes allowed our current problems to develop to a much greater degree. Consider the failure to come to grips with the cause of the 1980s bubble, as Japan’s economy continues to linger at no-growth and recession level, with their stock market at approximately one-fourth of its peak 13 years ago. If we’re not careful- and so far we’ve not been- we will make the same errors that will prevent the correction needed before economic growth can be resumed.
Japan
The Price Of War
5 September 2002 2002 Ron Paul 83:44
Our troops would be brought home under such conditions, systematically and soon. Being in Europe and Japan for over 50 years is long enough. The failure of Vietnam resulted in no occupation and a more westernized country now doing business with the United States. There is no evidence that the military approach in Vietnam was superior to that of trade and friendship. The lack of trade and sanctions have not served us well in Cuba or in the Middle East. The mission for our Coast Guard would change if our foreign policy became noninterventionist. They, too, would come home, protect our coast, and stop being the enforcers of bureaucratic laws that either should not exist or should be a State function.
Japan
The Price Of War
5 September 2002 2002 Ron Paul 83:61
This Soviet collapse ushered in the age of unparalleled American dominance over the entire world and along with it allowed the new expanded hot war between the West and the Muslim East. All the hostility directed toward the West built up over the centuries between the two factions is now directed toward the United States. We are now the only power capable of paying for and literally controlling the Middle East and its cherished wealth, and we have not hesitated. Iraq, with its oil and water and agricultural land, is a prime target of our desire to further expand our dominion. The battle is growing ever so tense with our acceptance and desire to control the Caspian Sea oil riches. But Russia, now licking its wounds and once again accumulating wealth, will not sit idly by and watch the American empire engulf this region. When time runs out for us, we can be sure Russia will once again be ready to fight for control of all those resources in countries adjacent to her borders. And expect the same from China and India. And who knows, maybe one day even Japan will return to the ancient art of using force to occupy the cherished territories in their region of the world.
Japan
A Political Mistake
September 18, 2002 2002 Ron Paul 87:4
But the tragic and most irresponsible excuse for the war rhetoric is now emerging in the political discourse. We now hear rumblings that the vote is all about politics, the November elections, and the control of the U.S. Congress, that is, the main concern is political power. Can one imagine delaying the declaration of war against Japan after Pearl Harbor for political reasons? Or can one imagine forcing a vote on the issue of war before an election for political gain? Can anyone believe there are those who would foment war rhetoric for political gain at the expense of those who are called to fight and might even die if the war does not go as planned?
Japan
Is Congress Relevant with Regards to War?
October 3, 2002 2002 Ron Paul 94:1
The last time Congress declared war was on December 11, 1941, against Germany in response to its formal declaration of war against the United States. This was accomplished with wording that took less than one-third of a page, without any nitpicking arguments over precise language, yet it was a clear declaration of who the enemy was and what had to be done. And in three-and-a-half years, this was accomplished. A similar resolve came from the declaration of war against Japan three days earlier. Likewise, a clear-cut victory was achieved against Japan.
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Republic Versus Democracy
29 January 2003 2003 Ron Paul 6:60
Excessive meddling in the internal affairs of other nations, and involving ourselves in every conflict around the globe has not endeared the United States to the oppressed of the world. The Japanese are tired of us, the South Koreans are tired of us, the Europeans are tired of us, the Central Americans are tired of us, the Filipinos are tired of us, and, above all, the Arab Muslims are tired of us. Angry and frustrated by our persistent bullying, and disgusted with having their own government bought and controlled by the United States, joining a radical Islamic movement was a natural and predictable consequence for Muslims.
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Neo – CONNED !
July 10, 2003 2003 Ron Paul 73:74
…of course, we can always get lucky. Stunning events from outside can providentially awaken the enterprise from its growing torpor, and demonstrate the need for reversal, as the devastating Japanese attack on Pearl Harbor in 1941 so effectively aroused the U.S. from its soothing dreams of permanent neutrality.
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Neo – CONNED !
July 10, 2003 2003 Ron Paul 73:93
Spending, borrowing and printing money cannot be the road to prosperity. It hasn’t worked in Japan, and it isn’t working here either. As a matter of fact, it’s never worked anytime throughout history. A point is always reached where government planning, spending and inflation run out of steam. Instead of these old tools reviving an economy, as they do in the early stages of economic interventionism, they eventually become the problem. Both sides of the political spectrum must one day realize that limitless government intrusion in the economy, in our personal lives and in the affairs of other nations cannot serve the best interests of America. This is not a conservative problem, nor is it a liberal problem—it’s a government intrusion problem that comes from both groups, albeit for different reasons. The problems emanate from both camps that champion different programs for different reasons. The solution will come when both groups realize that it’s not merely a single-party problem, or just a liberal or just a conservative problem.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:45
Lowering interest rates at times, especially early in the stages of monetary debasement, will produce the desired effects and stimulate another boom-bust cycle. But eventually the distortions and imbalances between consumption and production, and the excessive debt, prevent the monetary stimulus from doing very much to boost the economy. Just look at what’s been happening in Japan for the last 12 years. When conditions get bad enough the only recourse will be to have major monetary reform to restore confidence in the system.
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Paper Money and Tyranny
September 5, 2003 2003 Ron Paul 93:52
We own the printing press and create as many dollars as we please. These dollars are used to buy federal debt. This allows our debt to be monetized and the spendthrift Congress, of course, finds this a delightful convenience and never complains. As the dollars circulate through our fractional reserve banking system, they expand many times over. With our excess dollars at home, our trading partners are only too happy to accept these dollars in order to sell us their products. Because our dollar is relatively strong compared to other currencies, we can buy foreign products at a discounted price. In other words, we get to create the world’s reserve currency at no cost, spend it overseas, and receive manufactured goods in return. Our excess dollars go abroad and other countries-especially Japan and China- are only too happy to loan them right back to us by buying our government and GSE debt. Up until now both sides have been happy with this arrangement.
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Say No To Involuntary Servitude
November 21, 2003 2003 Ron Paul 122:14
The dollar cost of war and the economic hardship is great in all wars and cannot be minimized. War is never economically beneficial except for those in position to profit from war expenditures. The great tragedy of war is the careless disregard for civil liberties of our own people. Abuses of German and Japanese Americans in World War I and World War II are well known.
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A Wise Consistency
February 11, 2004 2004 Ron Paul 2:13
Paper Money, Inflation, and Economic Pain : Paper money and inflation have never provided long-term economic growth, nor have they enhanced freedom. Yet the world, led by the United States, lives with a financial system awash with fiat currencies and historic debt as a consequence. No matter how serious the problems that come from central-bank monetary inflations — the depressions and inflation, unemployment, social chaos, and war — the only answer has been to inflate even more. Except for the Austrian free-market economists, the consensus is that the Great Depression was prolonged and exacerbated by the lack of monetary inflation. This view is held by Alan Greenspan, and reflected in his January 2001 response to the stock market slump and a slower economy — namely a record monetary stimulus and historically low interest rates. The unwillingness to blame the slumps on the Federal Reserve’s previous errors, though the evidence is clear, guarantees that greater problems for the United States and the world economy lie ahead. Though there is adequate information to understand the real cause of the business cycle, the truth and proper policy are not palatable. Closing down the engine of inflation at any point does cause short-term problems that are politically unacceptable. But the alternative is worse, in the long term. It is not unlike a drug addict demanding and getting a fix in order to avoid the withdrawal symptoms. Not getting rid of the addiction is a deadly mistake. While resorting to continued monetary stimulus through credit creation delays the pain and suffering, it inevitably makes the problems much worse. Debt continues to build in all areas — personal, business, and government. Inflated stock prices are propped up, waiting for another collapse. Mal-investment and overcapacity fail to correct. Insolvency proliferates without liquidation. These same errors have been prolonging the correction in Japan for 14 years, with billions of dollars of non-performing loans still on the books. Failure to admit and recognize that fiat money, mismanaged by central banks, gives us most of our economic problems, along with a greater likelihood for war, means we never learn from our mistakes. Our consistent response is to inflate faster and borrow more, which each downturn requires, to keep the economy afloat. Talk about a foolish consistency! It’s time for our leaders to admit the error of their ways, consider the wise consistency of following the advice of our Founders, and reject paper money and central bank inflationary policies.
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Reject Draft Slavery
October 5, 2004 2004 Ron Paul 75:6
Economic hardship is great in all wars. War is never economically beneficial except for those in position to profit from war expenditures. The great tragedy of war is that it enables the careless disregard for civil liberties of our own people. Abuses of German and Japanese Americans in World War I and World War II are well known.
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Where To From Here?
November 20, 2004 2004 Ron Paul 81:21
When the shift in sentiment comes regarding the U.S. dollar, dollars will come back home. They will be used to buy American assets, especially real property. In the late 1970s it annoyed many Americans when Japan, which was then in the driver’s seat of the world economy, started “buying up America.” This time a lot more dollars will be repatriated.
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Where To From Here?
November 20, 2004 2004 Ron Paul 81:34
There are even more reasons to believe the current government status quo is unsustainable. As a nation dependent on the willingness of foreigners to loan us the money to finance our extravagance, we now are consuming 80% of the world’s savings. Though the Fed does its part in supplying funds by purchasing Treasury debt, foreign central banks and investors have loaned us nearly twice what the Fed has, to the tune of $1.3 trillion. The daily borrowing needed to support our spending habits cannot last. It can be argued that even the financing of the Iraq war cannot be accomplished without the willingness of countries like China and Japan to loan us the necessary funds. Any shift, even minor, in this sentiment will send chills through the world financial markets. It will not go unnoticed, and every American consumer will be affected.
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America’s Foreign Policy Of Intervention
26 January 2005 2005 Ron Paul 6:24
Governments do not have a right to use blanket discrimination such as that which led to the incarceration of Japanese Americans in World War II. However, local law enforcement agencies should be able to target their searches if the description of a suspect is narrowed by sex, race or religion. But we are dealing with an entirely different matter when it comes to safety on airplanes. The Federal Government should not be involved in local law enforcement and has no right to discriminate.
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The Hidden Cost of War
June 14, 2005 2005 Ron Paul 58:33
This ability to print the reserve currency of the world, and the willingness of foreigners to take it, causes gross distortions in our current account deficits and total foreign indebtedness. It plays a major role in the erosion of our manufacturing base, and causes the exporting of our jobs along with our dollars. Bashing foreigners, in particularly the Chinese and the Japanese, as the cause of our dwindling manufacturing and job base is misplaced. It prevents the evaluation of our own policies-- policies that undermine and increase the price of our own manufacturing goods while distorting the trade balance. Though we continue to benefit from the current circumstances, through cheap imports on borrowed money, the shaky fundamentals make our economy and financial system vulnerable to sudden and severe adjustments. Foreigners will not finance our excessive standard of living and our expensive war overseas indefinitely. It will end! What we do in the meantime to prepare for that day will make all the difference in the world for the future of freedom in this country. It’s the future of freedom in this country that is truly the legitimate responsibility of us as Members of Congress.
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Statement on HR 3283, the United States Trade Rights Enforcement Act
July 26, 2005 2005 Ron Paul 90:2
Mr. Speaker, in addition to the irony of the protectionist flavor of this bill, let me say that we should be careful what we demand of the Chinese government. Take the demand that the government “revalue” its currency, for example. First, there is sufficient precedent to suggest that doing this would have very little effect on China’s trade surplus with the United States. As Barron’s magazine pointed out recently, “the Japanese yen’s value has more than tripled since the breakdown of the Bretton Woods system, yet Japan’s trade surplus remains huge. Why should the unpegging of the Chinese yuan have any greater impact?”
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The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:52
For the most part, the true victims are not aware of how they pay the bills. The license to create money out of thin air allows the bills to be paid through price inflation. American citizens as well as average citizens of Japan and China and other countries suffer from price inflation, which represents the tax that pays the bills for our military adventures. That is, until the fraud is discovered and the foreign producers decide not to take dollars nor hold them very long in payment for those goods. Everything possible is done to prevent the fraud of the monetary system from being exposed to the masses who suffer from it. If oil markets replace dollars with euros, it would in time curtail our ability to continue to print, without restraint, the world’s reserve currency.
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Iran, The Next Neocon Target
5 April 2006 2006 Ron Paul 21:58
Though many Americans are starting to feel the economic pain of paying for this war through inflation, the real pain has not yet arrived. We generally remain fat and happy with a system of money and borrowing that postpones the day of reckoning. Foreigners, in particular the Chinese and Japanese, gladly participate in the charade. We print the money and they take it, as do the OPEC Nations, and provide us with consumer goods and oil. Then they loan the money back to us at low interest rates, which we use to finance the war and our housing bubble and excessive consumption. This recycling and perpetual borrowing of inflated dollars allow us to avoid the pain of high taxes to pay for our war and welfare spending. It is fine until the music stops and the real costs are realized, with much higher interest rates and significant price inflation. That is when outrage will be heard and the people will realize we cannot afford the humanitarianism of the neo-conservatives.
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Why Are Americans So Angry?
June 29, 2006 2006 Ron Paul 52:76
The military-industrial complex we were warned about has been transformed into a military-media-industrial-government complex that is capable of silencing the dissenters and cheerleading for war. It’s only after years of failure that people are able to overcome the propaganda for war and pressure their representatives in Congress to stop the needless killing. Many times the economic costs of war stir people to demand an end. This time around the war might be brought to a halt by our actual inability to pay the bills due to a dollar crisis. A dollar crisis will make borrowing 2.5 billion dollars per day from foreign powers like China and Japan virtually impossible, at least at affordable interest rates.
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Whom to Blame
19 July 2006 2006 Ron Paul 66:26
So even if you totally disagree with our aggressive empire building and policing the world, let me tell you, I am going to win the argument, because we are running out of money. We are in big debt, and we are borrowing it. We borrowed $3 billion a day from countries like China and Japan and Saudi Arabia to finance this horrendous debt. And it won’t be, it can’t be continued. The dollar will eventually weaken. You are going to have horrendous inflation. Interest rates are going to go up, and it is going to be worse than the stagflation of the 1970s.
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The War In Iraq
5 January 2007 2007 Ron Paul 7:7
Three thousand American military personnel are dead. More than 22,000 are wounded, and tens of thousands will be psychologically traumatized by their tours of duty in Iraq. Little concern is given to the hundreds of thousands of Iraqi civilians killed in this war. We have spent $400 billion so far with no end in sight. This money we do not have. It is all borrowed from countries like China that increasingly succeed in the global economy while we drain wealth from our citizens through heavy taxation and insidious inflation. Our manufacturing base is now nearly extinct. Where the additional U.S. troops in Iraq will come from is anybody’s guess, but surely they won’t be redeployed from Japan, Korea, or Europe.
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Statement On Chinese Currency
9 May 2007 2007 Ron Paul 50:6
The fact that the US dollar is the principal reserve currency of the world gives us a benefit that others do not enjoy. It allows us to export paper dollars and import goods manufactured in countries with cheap labor. It also allows us to finance the welfare/warfare state with cheap loans from China and Japan. It's a good deal for us but according to economic law must come to an end, and the end will be messy for the US consumer and for world trade.
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Tribute To Dr. Russell Arthur Matthes
12 December 2007 2007 Ron Paul 108:2
When Japan surrendered, Dr. Matthes’s squadron was transferred to the USS Cumberland Sound and sent to Japan. His plane’s crew flew across Japan, taking aerial photographs for intelligence purposes and also looking for prison camps. A camp at Kobe was found and the crew dropped all the canned food from the plane’s galley.
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GLOBAL WARMING PETITION SIGNED BY 31,478 SCIENTISTS
June 4, 2009 2009 Ron Paul 64:2
“We urge the United States government to reject the global warming agreement that was written in Kyoto, Japan in December, 1997, and any other similar proposals. The proposed limits on greenhouse gases would harm the environment, hinder the advance of science and technology, and damage the health and welfare of mankind.
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THE QUAGMIRE OF AFGHANISTAN
December 2, 2009 2009 Ron Paul 101:4
But just think of the tragedy of Vietnam, all those years and all those deaths and all that money spent. Eventually we left, and South Vietnam is now a unified country, but we still have troops in Korea, in Europe, and in Japan. And we are bankrupt. So some day we are going to have to wake up and look at the type of foreign policy that the Founders advised us to have, and that is nonintervention: don’t get involved in the internal affairs of other nations, have free and open trade and accept friendship with other countries who offer it, and that we shouldn’t be the policemen of the world and we shouldn’t be telling other people what to do. We cannot be the policemen of the world and pay for all those bills because we are literally bankrupt.
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Sanctions on Iran, Part 1
December 15, 2009 2009 Ron Paul 104:2
In the late 1930s and the early 1940s the American people did not want to go into war, but there were some that were maneuvering us into war, and they used the argument that you needed an event. So, in June of 1941, sanctions were put against Japan, incidentally and ironically, to prohibit oil products from going into Japan. Within 6 months there was the bombing of Pearl Harbor. And there is now talk, there’s been talk in the media, and we’ve heard about it, we need to bomb Iran. And that’s what the people hear.
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- Kyoto treaty disregards science for a radical anti-American agenda
15 December 1997 Texas Straight Talk 15 December 1997 verse 5 ... Cached
In Kyoto, Japan, delegates from more than 150 nations gathered to set new, international guidelines for reducing the so-called "greenhouse" gases. As one might imagine, the villain in the eyes of the participants were the "greedy Americans," and as such we will bear the brunt of the treaty's wrath, while communist China and the world's other oppressive regimes can pollute all they want. Those on the radical environmental fringe, who organized this conference, have been using questionable "science" to raise the fear that some environmental collapse is just around the corner unless immediate, radical action is taken.
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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.
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Asian economic crisis result of suppressed liberty
25 May 1998 Texas Straight Talk 25 May 1998 verse 6 ... Cached
The crisis in Indonesia is the predictable consequence of decades of monetary inflation. Timing, severity, and duration of the correction, is unpredictable. These depend on political perceptions, the day's realities, subsequent economic policies, and the citizenry's reaction to the escalating events. The issue of trust in the future and concerns for personal liberties greatly influences the outcome, as well. Even a false trust, or an ill-founded sense of security from an authoritarian leader, can alter the immediate consequences of economic malaise, but it cannot prevent the inevitable collapse, as is occurring slowly in the more peaceful Japan and rapidly and violently in Indonesia.
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The problem is the currency
21 September 1998 Texas Straight Talk 21 September 1998 verse 7 ... Cached
The near anarchy in Russia, the food riots in Indonesia, and the growing recession in Japan are signs of conditions spreading across the globe. And unfortunately, there is no sign that correct policy will soon be instituted - anywhere.
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Economic crisis looms
19 October 1998 Texas Straight Talk 19 October 1998 verse 9 ... Cached
That is what we are witnessing today. The world-wide fragile financial system is now collapsing, and tragically the only cry is for more credit inflation because the cause of our dilemma is not understood. An attempt at credit stimulation with interest rates below one percent, is doing nothing for Japan’s economy and for a good reason: It is the wrong treatment for the wrong diagnosis.
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Draft not needed for protection of liberty
23 August 1999 Texas Straight Talk 23 August 1999 verse 10 ... Cached
The draft is foreign to the precepts of liberty. If there is ever a threat to our national survival, people will serve if they believe liberty is worth saving; droves of men rushed to volunteer for service after Japan attacked in 1941. The burden rests on those in elected office to ensure our free society remains one in which the people are willing to fight, even to death, for its continuation. In our Constitution, the founding fathers provided for this mechanism by ensuring all would be free to be armed so that they may rise up in defense of liberty.
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Economic Woes and the Federal Reserve
19 March 2001 Texas Straight Talk 19 March 2001 verse 3 ... Cached
Last week was tumultuous for worldwide stock markets, some of which ended the week at their lowest levels in years. Our own Dow-Jones and NASDAQ market indices both suffered heavy losses, while the Japanese Nikkei index fell to its lowest level since 1985! Nervous investors scrambled to sell even blue-chip holdings, especially after news that projected 2001 earnings would be lower than expected for many companies.
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The Fed Cannot Create Prosperity
03 September 2001 Texas Straight Talk 03 September 2001 verse 5 ... Cached
The Japanese economy provides a vivid example of the futility of manipulating interest rates. Japan's central bank began cutting rates more than a decade ago, but the country remains mired in a stagnant economy. Ultimately, interest rates were cut to zero, where they have remained for several years. This rate-cutting has failed to stimulate the economy, however. The Nikkei stock market index remains at 1980s levels, while Japanese unemployment recently reached 5%, the highest rate in decades. The Japanese experience should tell us that prosperity cannot be created out of thin air by a central bank.
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Congress Becomes Irrelevant in the War Debate
07 October 2002 Texas Straight Talk 07 October 2002 verse 6 ... Cached
When Congress issued clear declarations of war against Japan and Germany during World War II, the nation was committed and victory was achieved. When Congress shirks its duty and avoids declaring war, as with Korea, and Vietnam, the nation is less committed and the goals are less clear. No lives should be lost in Iraq unless Congress expresses the clear will of the American people and votes yes or no on a declaration of war.
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Why Won't Congress Declare War?
14 October 2002 Texas Straight Talk 14 October 2002 verse 8 ... Cached
When Congress issued clear declarations of war against Japan and Germany during World War II, the nation was committed and victory was achieved. When Congress shirks its duty and avoids declaring war, as with Korea, and Vietnam, the nation is less committed and victory is elusive. No lives should be lost in Iraq unless Congress expresses the clear will of the American people and votes yes or no on a declaration of war.
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Waning Prospects for Peace in 2003?
30 December 2002 Texas Straight Talk 30 December 2002 verse 5 ... Cached
The seriousness of the North Korean threat is evidenced by strong reactions from France, Britain, Japan, Russia, and even China. In fact, a recent poll showed that an overwhelming number of Americans view North Korea as more of a threat than Iraq.
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Torture, War, and Presidential Powers
14 June 2004 Texas Straight Talk 14 June 2004 verse 5 ... Cached
The greater issue presented by the Defense department memo, however, is the threat posed by unchecked executive power. Defense department lawyers essentially argue that a president’s powers as Commander-In-Chief override federal laws prohibiting torture, and the Justice department appears to agree. But the argument for extraordinary wartime executive powers has been made time and time again, always with bad results and the loss of our liberties. War has been used by presidents to excuse the imprisonment of American citizens of Japanese descent, to silence speech, to suspend habeas corpus, and even to control entire private industries.
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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.
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The Declining Dollar Erodes Personal Savings
15 May 2006 Texas Straight Talk 15 May 2006 verse 3 ... Cached
A recent article in BusinessWeek magazine by James Mehring paints a stark picture of the ongoing decline of the U.S. dollar. The dollar has lost 5% against a blend of worldwide currencies just since April, falling to a 12-month low against the Euro and an 8-month low against the Japanese yen. Overall, the dollar fell 28% against other currencies between 2002 and 2004. It then rebounded slightly, but even the cheerleaders in the American financial press cannot shrug off this latest decline.
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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.