A Costly Mistake
Congressman Ron Paul was asked: “Would we have gone to war in Iraq if we weren’t so dependent on Middle East oil?”
Rep. Paul answered: “Probably not, but that should not be a reason. That’s an old mercantilistic theory. It’s neo-colonialism, that you have to maintain your supply routes and your natural resources. This war is a very costly mistake, which has a lot of economic ramifications.
“We have this huge deficit, and we’re spending nearly $1 trillion maintaining our empire overseas. At the same time we owe foreigners $2.7 trillion. It has to do with our monetary system, as well as our foreign policy. If we want prosperity, we have to change our foreign policy and we have to live within our means.
“That’s the reason all of our money goes overseas. We are financing military activity overseas and it’s bankrupting this country. Not only that; it’s a threat to our personal liberties. We must change our policy, both overseas and domestically.”
Rep. Paul believes that the transfer of wealth from the poor and the middle class to the wealthy is not a consequence of free markets.
He says: “This comes about because of the monetary system we have. The Federal Reserve system benefit the banks and Wall Street, because they get to use the money first. The middle class gets wiped out, when a currency is inflated. That’s why you have more billionaires than ever before. It’s because of our monetary system and excessive spending. As long as we live beyond our means we are destined to live beneath our means.
“We’re depending on the creation of money out of thin air, which is nothing more than a debasement of the currency. It’s a predictable consequence that you’re going to have people benefit from it and other people suffer.
“It’s always the poor and those who are on retired incomes that suffer the most. Politicians and those who get to use the money first, like the military industrial complex make a lot of money from it.”
Rep. Paul answered: “Probably not, but that should not be a reason. That’s an old mercantilistic theory. It’s neo-colonialism, that you have to maintain your supply routes and your natural resources. This war is a very costly mistake, which has a lot of economic ramifications.
“We have this huge deficit, and we’re spending nearly $1 trillion maintaining our empire overseas. At the same time we owe foreigners $2.7 trillion. It has to do with our monetary system, as well as our foreign policy. If we want prosperity, we have to change our foreign policy and we have to live within our means.
“That’s the reason all of our money goes overseas. We are financing military activity overseas and it’s bankrupting this country. Not only that; it’s a threat to our personal liberties. We must change our policy, both overseas and domestically.”
Rep. Paul believes that the transfer of wealth from the poor and the middle class to the wealthy is not a consequence of free markets.
He says: “This comes about because of the monetary system we have. The Federal Reserve system benefit the banks and Wall Street, because they get to use the money first. The middle class gets wiped out, when a currency is inflated. That’s why you have more billionaires than ever before. It’s because of our monetary system and excessive spending. As long as we live beyond our means we are destined to live beneath our means.
“We’re depending on the creation of money out of thin air, which is nothing more than a debasement of the currency. It’s a predictable consequence that you’re going to have people benefit from it and other people suffer.
“It’s always the poor and those who are on retired incomes that suffer the most. Politicians and those who get to use the money first, like the military industrial complex make a lot of money from it.”
0 Comments:
Post a Comment
<< Home