U.S. Rep. Ron Paul | U.S. Treasury |
U.S. Treasury
INTRODUCING LEGISLATION CALLING FOR THE UNITED STATES TO WITHDRAW FROM THE WORLD TRADE ORGANIZATION
March 1, 2000 2000 Ron Paul 12:13
A revenue tariff was to be a major contributor to the U.S. Treasury, but only to fund the limited and constitutionally authorized responsibilities of the Federal government. Thus, the tariff would be low.
U.S. Treasury
Blame Congress for HMOs
February 27, 2001 2001 Ron Paul 15:13
This stampede to the doctor’s office, through the U.S. Treasury, sent Congress into a panic. It had unlocked the health-care appetite of millions, and the results were disastrous. While fiscal prudence demanded a hasty retreat, Congress opted instead for deception.
U.S. Treasury
Statement on the Argentine crisis
February 6 2002 2002 Ron Paul 4:3
In fact, Mr. Chairman, Argentina does not represent an exception to the laws of economics. Rather, Argentina’s economic collapse is but one more example of the folly of government intervention in the economy done to benefit powerful special interests at the expense of the Argentine people and the American taxpayer. The primary means by which the federal government forces American taxpayers to underwrite the destruction of the Argentine economy is the International Monetary Fund (IMF), which enjoys a $37 billion line of credit provided with U.S. Treasury funds.
U.S. Treasury
Introduction of the Monetary Freedom and Accountability Act
February 13, 2002 2002 Ron Paul 8:18
Bill Murphy, chairman of the Gold Anti-Trust Action Committee, a nonprofit organization that researches and studies what he calls the “gold cartel” (J.P. Morgan Chase, Deutsche Bank, Citigroup, Goldman Sachs, Bank for International Settlements (BIS), the U.S. Treasury, and the Federal Reserve), and owner of www.LeMetropoleCafe.com, tells Insight that “Morgan Chase and other bullion banks are another Enron waiting to happen.” Murphy says, “Enron occurred because the nature of their business was obscured, there was no oversight and someone was cooking the books. Enron was deceiving everyone about their business operations C and the same thing is happening with the gold and bullion banks.”
U.S. Treasury
The Monetary Freedom And Accountability Act
17 July 2003 2003 Ron Paul 79:10
The “lunatic fringe” long has argued that the price of gold was being manipulated by a “gold cartel” involving J.P. Morgan Chase, Citigroup, Deutsche Bank, Goldman Sachs, the Bank for International Settlements (BIS), the U.S. Treasury and the Federal Reserve, but that the manipulation had been sufficiently exposed to require that it be abandoned, producing the steady upward increase in the price of the shiny, yellow metal.
U.S. Treasury
Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:13
Currently the annual inflation rate is about 2.5%. Thus, the risk free rate (the real rate-2% — plus the inflation premium) on savings deposits and money market funds should be about 4.5%. For Americans who seek the safety of savings accounts and money market funds for their hard-earned money, the current average yield of 0.7% on money market funds is well below the current risk free rate. In addition, savers who own short-term U.S. Treasury debt are receiving slightly more than 1.1 % annually. What’s going on? How can savers be receiving about 3.5% less than the risk free rate on their money market accounts and savings accounts?
U.S. Treasury
Abolishing The Federal Reserve
17 July 2003 2003 Ron Paul 83:20
Using the same 4.5% risk free rate, savers should be receiving about $210 billion on their short-term deposits at the nation’s financial institutions. Instead, they are earning about $50 billion, for a loss of $160 billion in annual income. In addition, the U.S. Treasury has approximately $1 trillion in short-term debt that is yielding a little more than 1%. Savers holding the federal government’s short-term debt are losing approximately $35 billion in annual income.
U.S. Treasury
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:21
The U.S. did exactly what many predicted she would do: she printed more dollars for which there was no gold backing. But the world was content to accept these dollars for more than 25 years with little question, until the French and others in the late 1960s demanded we fulfill our promise to pay 1 ounce of gold for each $35 they delivered to the U.S. Treasury. This resulted in a huge gold drain that brought an end to a very poorly devised pseudo-gold standard.
U.S. Treasury
The End Of Dollar Hegemony
15 February 2006 2006 Ron Paul 3:31
Increasing gold prices historically are viewed as an indicator of distrust in paper currency. This recent effort was not a whole lot different than the U.S. Treasury selling gold at $35 an ounce in the 1960s in an attempt to convince the world the dollar was as sound and as good as gold.
U.S. Treasury
INTRODUCTION OF THE SOCIAL SECURITY PRESERVATION ACT
January 6, 2009 2009 Ron Paul 2:3
With federal deficits reaching historic levels, and with new demands being made on the U.S. Treasury on an almost weekly basis, the pressure from special interests for massive new raids on the trust fund is greater than ever. Thus it is vital that Congress act now to protect the trust fund from big spending, pork- barrel politics. As a medical doctor, I know the first step in treatment is to stop the bleeding, and the Social Security Preservation Act stops the bleeding of the Social Security trust fund. I therefore call upon all my colleagues, regardless of which proposal for long-term Social Security reform they support, to stand up for America’s seniors by cosponsoring the Social Security Preservation Act.
U.S. Treasury
International Protectionism
13 December 1999 Texas Straight Talk 13 December 1999 verse 10 ... Cached
A revenue tariff was to be a major contributor to the U.S. treasury, but only to fund the limited and constitutionally authorized responsibilities of the federal government, thus the tariff would be low. The colonists and founders clearly recognized that tariffs are taxes on American consumers, they are not truly taxes on foreign companies. This realization was made obvious by the British government's regulation of trade with the colonies, but it is a realization that has apparently been lost by today's protectionists. Simply, protectionists seem to fail even to realize that raising the tariff is a tax hike on the American people.
U.S. Treasury
Predictions for an Unwritten Future
29 April 2002 Texas Straight Talk 29 April 2002 verse 19 ... Cached
Price inflation and a major economic downturn will decimate the U.S. Treasury.
U.S. Treasury
Your Taxes Fund South American Bailout
12 August 2002 Texas Straight Talk 12 August 2002 verse 2 ... Cached
You may have seen minor media coverage last week focusing on the economic problems in South America, particularly Uruguay and Brazil. The U.S. Treasury, acting through the Exchange Stabilization Fund and without congressional approval, gave Uruguay $1.5 billion to ease the impact of a bank shutdown. While $1.5 billion barely raises an eyebrow in Washington anymore, and scarcely attracts media attention, this latest bailout provides a telling example of the real priorities of our federal government.
U.S. Treasury
Entangling Alliances Distort our Foreign Policy
16 September 2002 Texas Straight Talk 16 September 2002 verse 5 ... Cached
Meanwhile, Russia and France have made it known that they might be persuaded to support our war effort if the American government guarantees payment for commercial debts owed them by Iraq. This amounts to nothing less than buying allies. Incredibly, the U.S. Treasury may make good on Saddam Hussein’s bad debts, with American taxpayers settling his unpaid bills! Who can possibly believe these kinds of unholy deals represent an acceptable foreign policy?
U.S. Treasury
Government Debt- The Greatest Threat to National Security
25 October 2004 Texas Straight Talk 25 October 2004 verse 4 ... Cached
Federal law limits the amount of debt the U.S. Treasury may carry, and the current amount-- a whopping $7.4 trillion-- has been reached once again by a spendthrift federal government. Total federal spending, which now exceeds $2 trillion annually, once took more than 100 years to double. Today it doubles in less than a decade, and the rate is accelerating. When President Reagan entered office in 1981 facing a federal debt of $1 trillion that had piled up over the decades, he declared that figure “incomprehensible.” At its present rate of spending, the federal government will soon amass $1 trillion of new debt in just one year.
U.S. Treasury
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.
U.S. Treasury
What do Rising Gold Prices Mean?
05 December 2005 Texas Straight Talk 05 December 2005 verse 7 ... Cached
President Nixon finally severed the last tenuous links between the dollar and gold in 1971. Since 1971, the Federal Reserve and U.S. Treasury have employed a pure fiat money system, meaning government can create money whenever it decrees simply by printing more dollars. The "value" of each newly minted dollar is determined by the faith of the public, the money supply, and the financial markets. In other words, fiat dollars have no intrinsic value.
U.S. Treasury
Monetary Inflation is the Problem
04 December 2006 Texas Straight Talk 04 December 2006 verse 4 ... Cached
This decline in the value of the dollar is simple to explain. The dollar loses value as the direct result of the Federal Reserve and U.S. Treasury increasing the money supply. Inflation, as the late Milton Friedman explained, is always a monetary phenomenon. The federal government consistently wants to spend more than it can tax and borrow, so Congress turns to the Fed for help in covering the difference. The result is more dollars, both real and electronic-- which means the value of every existing dollar goes down.
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.