It's been a while since we checked in with Ron Paul - he is trying to push through a bill to audit the Fed which is going well at the grass roots level (275 legislators have signed up) but the House leadership is dragging their feet. The higher you get up the food chain the more those in power would love to keep things just as they are, thank you very much. I can only imagine the lobbying going on on this one behind the scenes. What is amazing about Paul is almost everything he proposed would happen financially during the campaign (much of which was laughed at during GOP debates) has come to pass. Uhh, those would be the debates he actually was allowed to attend. I can still hear Fred Thompson snorting towards Paul today.... but that treatment pretty much represents all that is ill in the country. Simplistic idealistic sound bite arguments that are mostly incorrect and nearly always dogmatic work; deep thinking realistic concepts that takes more than 4 minutes to explain are ignored or scoffed at.

Hmm... thanks to the power of YouTube we can relive Fred Thompson twisting a cogent argument in a mocking manner - politics at its best ;) (first 90 seconds of this clip)

Below we have a few new videos from Yahoo Tech Ticker and Ron Paul on Dylan Ratigan's show on MSNBC. In Dylan's time on CNBC, he always took the time in between his reporting, to actually comment on the absurdity of so many of the things that were happening in the financial world. Which explains why he is no longer at CNBC... all we have left there is Rick Santelli.

As always let me preface any posting about a political figure with (a) I think both parties are equally excellent - at ruining the country (b) while they hand wave and throw social issues at us in dogmatic fashion to keep people fighting with each other, they are not very different and cling to narrow talking points that disallow the center of the country to actually get reasonable things done (c) many will move on after their cushy jobs in the House or Senate to be political lobbyists [at million dollar+ salaries] - i.e. the circle of life (d) they no longer are representative of anything but the political donors and (e) of course there are a few exceptions but the system tends to swallow up the exceptions.

How a Very Pessimistic Ron Paul Would Fix the Economy

Congressman Ron Paul is very pessimistic about the state of the economy, largely because - from his view - the Obama Administration continues to do the things that created the problem in the first place. Long a proponent of small government and a staunch opponent of the Federal Reserve system, Paul's main point is that increased spending and higher deficits are not the solution to our problems, but their cause.You can take care of people, but never with a deficit, never by expanding the spending, the Texas Republican says in this exclusive video interview, taped in the Capitol Hill Rotunda in Washington D.C. The more we do to interfere with the correction - the longer it lasts.Had he been elected, Paul said he would be doing a lot less than President Obama and blames Keynesian economics - which advocates increased government borrowing and spending during times of duress -- for our nation's current ills.While admitting a transition to what he views an ideal society won't be quick or simple, Paul's economic prescription includes:

  • Allowing bankruptcies to occur vs. rewarding failure with bailouts.
  • Stop inflation by dismantling the Fed and returning to the gold standard.
  • Encourage savings and liquidate debt.
  • Deregulate.
  • Give tax credits to those who take care of themselves, or the doctors who provide their care.
  • Cut government spending, especially on international endeavors. We spend hundreds of billions of maintaining our empire around the world. Let's bring that money home, he says.

These recommendations will be familiar to anyone who followed (or supported) Paul's run for the Presidency in 2008. Given all that's transpired in the past year, one suspects he'd be getting a lot more votes if the campaign were happening today.Ron Paul: The American People Demand Transparency! Audit the Fed!

Congressman Ron Paul doesn’t think his bill to audit the Fed will get past the power structure”aligned against it, and here he includes the prominent economists who’ve lobbied the White House and Congress to stop the politicizing of the Fed.

But the Texas Republican admits being surprised how much support his effort is getting.

Why is Congress so sympathetic to transparency? Paul wonders. The American people are demanding it. They've awoken and said 'we want to know what's going on with our money. Why are you bailing out the rich guys?' The timing is right. The conditions are right.

So what is Paul afraid the Fed is hiding?

Just about everything, he deadpans in the accompanying video exclusive, taped at the Capitol Hill Rotunda in Washington D.C. I'd like to know everything they're doing. We have a right to know what they're doing. They can literally create trillions in guarantees and not report them to us. TARP funds are small compared to what they do.

Reflecting his longtime opposition to the Federal Reserve, Paul notes he's opposed to the system vs. current chairman Ben Bernanke. Still, recent events have heightened his calls for scrutiny of the central bank.

Imagine if we had all the records that showed every communication between the Treasury and the Fed and Goldman Sachs? Paul muses. That would be really something. That's why they're ganging up [to oppose the audit]. They're a lot more powerful than I am. I have no clout whatsoever.


[Mar 25, 2009: Ron Paul - the United States is Bankrupt]

[Feb 26, 2009: Ron Paul Questions Ben Bernanke]

[May 14, 2008: Ron Paul Fox Business Interview]

[Mar 14, 2008: Ron Paul - Tough Medicine is the Treatment]

[Dec 15, 2007: Ron Paul on Jim Cramer]