Paul Joseph Watson
Prison Planet
Friday, September 26, 2008
Congressman Ron Paul says that the bailout bill is likely to pass, heralding a 10-year plus economic depression for America and the potential for martial law should civil unrest arise as the financial meltdown worsens.
 | |
 | |
| The Congressman said that Greenspan and Bernanke should be criminally charged but that such an effort would be largely symbolic. "Morally speaking, they're the culprits," said Paul. | |
Speaking on The Alex Jones Show, Paul said of the bailout, "They want dictatorship, they want to pass all the penalties and suffering on to the average person on Main Street," adding, "We will have a depression or recession, it's locked in place due to previous Federal Reserve actions."
"When they say that if we don't do exactly as they say and turn over more of our money and more of our liberties and exempt themselves from any court in the whole nation, they're trying to intimidate us and lead us into doing the wrong thing," said Paul.
The Congressman added that serious problems would arise if nothing was done to address the problem, but that more serious consequences would follow should the bailout be passed.
| |
| |
| Ron Paul on the Alex Jones Show. Part 2. | |
|
Paul warned that the only question was whether the meltdown would last one year or ten years and how much liberty would be lost in that time frame.
"It looks like from I see in Congress, that they're opting for a decade plus of depression rather than saying let's correct our ways, let's balance the budget, let's bring our troops home," said Paul, adding that the same course of printing money would continue - prolonging the agony and preventing a necessary correction.
Asked if civil unrest was a possibility in the midst of an economic depression, referencing a recent Army Times report concerning the use of active duty military being brought back from Iraq for "Homeland patrols" and "crowd control," Paul questioned, "Are we going to have martial law or are we going to have more freedoms? The more problems that we have, the more likely it is that we're going to have martial law, so I do think they anticipate and they plan for these things."
 | |
| |
|
Asked if criminal investigations and prosecutions of individuals on Wall Street should commence, Paul agreed but said that the main target of criminal inquiry should be the Federal Reserve board itself because, "That's where the fraud is."
"They want to be lawless, they don't want to be held accountable," he added.
Paul said that grand juries should be convened to take on prosecutions rather than the FBI becoming involved, stating, "We have proper authority with that and experience with it and the Enron case is a good example."
The Congressman said that Greenspan and Bernanke should be criminally charged but that such an effort would be largely symbolic. "Morally speaking, they're the culprits," said Paul.
Asked what his solution to the crisis would be, Paul said, "I think the most important thing to do is to send the message that we're going to quit living beyond our means and the president can set the standard for that and he has the most control under the Constitution on foreign policy - he can say no more wars, we're done with the wars, we're not going to take on the Russians, we're not going to take on people in Venezuela, we're going to start talking to the Cubans and bring our troops home and save hundreds of billions of dollars - that would send a powerful message that the dollar would respond to and oil prices would come down."
Paul said that Americans had to accept a new idea of government that harked back to what the founders envisaged and that the welfare state would have to unravel along with aspirations of building a geopolitical empire.
"In the meantime the policy ought to be - shrink the size of government, decrease regulation, work towards sound money, remove the authority of the Fed to create money out of thin air and get tax reduction," stated the Congressman. Paul added that eliminating the income tax would mean everybody becoming a lot richer and more money would be ploughed into the economy.
"It will not solve the problem, it just delays the inevitable," said Paul of the bailout, adding that he expects the bill to pass in a move that would, "Defy the American people."
"I think they get to the point where they think they're like God and can control everything and they don't realize that the market really is more powerful than all the bankers and all the politicians....Ultimately the underground economy is the real economy and I think they could over step themselves and hopefully we could come out with a better world afterwards," concluded the Congressman.
recommend this
email
print
link to this page
Comments: 43
No S*** Sherlock!...We may have to clean up that side of Washington in order to get back to some sort of reality...Thats the problem sadly!
It's so bizarre that these people can be so spot on at times, and then in the very next breath leap off into utter la-la land.
I wish more people would have debated Ron Paul rather than dismissed him.
Debate Is The Distillation Of Reality.
I hear they Are Now Advocating Insurance To These Companies With Bad Debt. Insurance Is Socialism By Surrogate !!! They will take the insurance policy, Write off the bad Debt, And we will pay as if they were AAA Rated.
I also hear of "Equity Position" coming up. A percentage of Zero Is Still Zero. We Will Pay And Get Nothing In Return. Also, Consider This, When The Government becomes a "For Profit Venture" All Citizens Become An Impediment To Profit.
When You Change The Rules Of The Game - You Change The Game.
I am very angry that anyone is talking about using my money to buy BAD DEBT. I have gone to great lengths to be fiscally responsible and to AVOID THE PONZI SCHEMES. I have seen first hand how the financial systems were JUICED.
Unless There Is Hunting And Prosecution Of The Perpetrators As Well As The Fixing Of The System To Keep This From Happening Again - Handing Money Over To The Accomplices Is Criminal !!!
You people better look into HOW the Bad Debt came about. (Derivatives, Credit Defalt Swaps, Securitzed Investment Vehicles, Collateralized Debt Obligations, The List goes on of "Financial Engineering) When you can create money out of thin air you can buy governments. The roots of the issue are Fractional Reserve Banking, Fiat Monetary Policy, and "Financial Engineering".
You fools that blame the general "Deregulation" as the root of the problem are just diagnosing A Symptom.
The Complexity Of Corruption Is Vast.
To Assume Benevolence Is Foolish.
Power Given Is Not So Easily Taken Back.
We had our chance do do something about it but either "we the people" or thoses who count the votes rejected the one man who an expert on the economy. He is no longer running for President becase "we the people" rejected him in favor of a coice between two clowns.
Still, if I was a politician in DC I'd lay low.
There are some from my town that are okay. Dennis and Sherrod, the rest of them are going to hell in a handbasket.
Goddess help us if we get more republicans in office.
sharon
It is not Republican or Democrat Sharon, it is the idea that Congress and the President can and will do as they please regardless of what the people want. It is a matter of thinking things through and making a wise decision. It is a matter of holding people accountable for their misdeeds. Both parties are guilty.
Just like in the 60s people? Not even close this will be a lot more that a bunch of war protesting students on drugs. This will be people of all walks of life standing up for what they believe in, America.
Agreed Karen, Those who took out the loans have their own share of guilt in this.
Congress and whatever blockhead is the next president will guarantee a Japanese style 10-20 year depression battling to fight the symptoms of our decline due to past policy. I've waited longer than I should have. There is nothing the government can do to repair the damage, and I see no hope of intelligent reconstruction.
I've sold my company, made money shorting the banks and the dollar for the last five years and am in the last stages of tying up my US affairs. I'm out of here. And so are many productive, intelligent employers and sadly, an increasing number of sharp young people who realize opportunity lies elsewhere.
Those of us who have been successful are now the targets of the government. We are public enemies. Some who read this will call me traitor. For what, getting out with what I can ahead of confiscation? I have been successful in spite of the government. If I had moved to Hong Kong, like a few of my friends thirty years ago, I'd be worth ten times as much, had far fewer hassles and more satisfied customers.
See ya ...
Gosh, a list of criminal Democrats who, it turns out, have been in control of Congress for less than two years! How DID they manage to create this CLUSTERFUCK in such a short amount of time?
A Congress run by Republicans from 1994 through 2006, a Presidency run by Republicans the last 20 of 28 years, and a Supreme Court with a Republican majority for how many years? And all three branches of government for 6 years. But you've got a list of Democrats who are responsible? How many Republicans are now in jail or on trial from the last six years, and how many more if the Justice Department was controlled by a Democrat? How do you keep your head from exploding?
Anyhoo...
Here's my timeline for the ECONOMIC CRISIS:
1981: John McCain and Charles Keating meet and become BFFs. The Keating Five scandal in 97 seconds...
August 1994: The Republican Party presents the Contract With Ameria
January 1995: Republicans gain majorities in the House and Senate
November 4, 1999: Senator Phil Gramm, Chairman of the Senate Banking Committee, presided over a session where the Gramm-Leach-Bliley Act was passed 90-8, making it FILIBUSTER and VETO proof.
December 15, 2000: Phil Gramm slips 262-page measure called the Commodity Futures Modernization Act into an omnibus spending bill.
late 2001: Enron collapses, Bush says he may have met Ken Lay in a reception line at the White House.
October 15, 2002: President Hosts Conference on Minority Homeownership, George Washington University, Washington, D.C.
February 23, 2004: Greenspan says ARMs might be better deal, By Sue Kirchhoff and Barbara Hagenbaugh, USA TODAY ARM=Adjustable Rate Mortgage
September 18, 2004: Ex-SEC Official Blames Agency for Blow-Up of Broker-Dealers - 'They constructed a mechanism that simply didn't work' By JULIE SATOW, Staff Reporter of the Sun
May 30, 2006: Goldman's chief to take on Treasury, Paulson nominated by President Bush to succeed John Snow as secretary, boost public perception of performance, By Chris Isidore, CNNMoney.com senior writer
February 14, 2008: Predatory Lenders' Partner in Crime, How the Bush Administration Stopped the States From Steping In to Help Consumers, By Eliot Spitzer
March 17, 2008: Why Bush Watergated Eliot Spitzer, By F William Engdahl (well it did help push the oncoming disaster forward a couple months)
September 23, 2008: How Bill Buckley's Hatred of the New Deal Brought the Wall Street Crash of 2008, By Rupert Russell
You can, of course, make your own timeline.
A germane quote: "Capitalism will always survive in the United States as long as the government is willing to use socialism to bail it out." Nathra Nader, Ralph Nader's father
Let me expand on that: Capitalism will survive in the United States as long as Republicans grow the government with deficit spending so that it remains big enough to keep the economic system from collapsing from the latest Ponzi scheme.
And thanks to micky d for the perfect deflection away from the real culprits.
Dick all you had to do to identfy the root cause of this finacial mortgage disaster was to list the name's of the Democrat crooks who ran Fan and Fred. All Clinton cronies,Raines, Gorelik,Johnson two of whom are advisors to Obama,Dick. Raines took 90 mill. when he left. Chris Dodd a friend of Angelo's from corrupt Country Wide,Chriisy got a sweet mortgage and lots of money from Fan and Fred.
Dick baby,these Democrat theives have run Fan and Fred since 1999,they along with the Clinton administration enacted the law that said to start lending money to people who did not qualify for a mortgage,that's how we got here Dick-o.You know it and the American people are starting to know it.Elliot Spitzer!!!!
That is why he pointed out what a disaster invading Iraq for no good reason was a bad idea.
He may be a nut but if he is it's because he is a Constitution Nut. That makes him my kind of nut.
"(R)emove the authority of the Fed to create money out of thin air" -- This is the crux of the problem. The Fed is a banking cartel, not part of the government. Constitutionally, the power to create money should rest with Congress, but Congress turned it over to private banking interests in 1913. That was the crime. Bernanke and Greenspan have just been doing their jobs.
The current crisis would be the perfect time to abolish the Fed and make fractional reserve banking just as illegal as other forms of counterfeiting. Let the government determine the size of the money supply, as they have no profit incentive to overexpand it. Let banks loan out only the money they actually have, not ten or twelve times that much. (Or 30 or 40 times, like some of the deregulated investment banks were doing before they self-destructed.)
The amount of civil unrest is a big question. That could mean anything from demonstration marches to out and out armed conflict. Martial Lay spells armed conflict or if you want it bluntly a Civil War. There are going to have to be some racical changes to prevent it.
I am preparing for the possability. Seeing to the safety of my friends and family is one and putting myself in a position to use my military training to benefit the freedom movement. If it happens, and I hope it does not, I will be there where the action is. I may not be able to be active but I can train people and theach them how to conduct operations. In fact I am working on lesson plans.
That is how wacky we the people have become.These are ideological battles Jeff,it was the political ideology of Liberal entitlement that caused this crisis,Democrats decided that the next thing everyone in America is entitled too is a HOME, wether they can afford it or not.What happened a financial criss,who are the guilty? who took millions from Fran and Fred,who ran these govt.agencies from 1999 on to the present? will they go to jail?.
I am not the least bit interested in getting along with people who refuse to identify the crooks.For pete-sake, Jeff these crooks are now writing the 700 billion dollar give-away and they are the dishonest, lying, idiots that caused it. Jeff,to date they"politicians " have won. And until people in this case identify the ideological reason why this happened-a clear cut ideological liberal entitlement ideology that everyone is owed a home in America is the result of that, ideology!
'ideology"---Its time to call a bad ideology for what it is.
What is the difference between Eliot Spitzer and Senator David Vitter?
Here are three differences:
1) SENATOR (David's Diaper Diaries) Vitter is still in office
2) Paul and Spitzer wouldn't prosecute Vitter for prostitution - Vitter WOULD prosecute Spitzer
3) FDR=Spitzer=Paul
AGAIN, the goal was to push this crisis beyond the end of bush's time time in office. Spitzer would have investigated and prosecuted, if necessary, people belonging to both parties. Your REPUBLICAN STENOGRAPHER blindness leaves you with nothing but a list of names of Democrats--most of whom won't be prosecuted for anything, just like nobody prosecuted the janitors who cleaned the Enron building.
When you are arrested for prostitution I'll have a short, sharp, silly laugh--and then leave the resolution of that "problem" to you and your wife and mistress(es). Period. End of story.
Then you can get back to your mindless Democrats list making--and I can continue trashing your REPUBLICAN STENOGRAPHY.
If Obama is President in late January, then you and I will be on the same side--looking for corruption, malfeasance, incompetence. If McCain wins then you will be back to listing Democrats you imagine to be crooks (with no cites yet again!). You are an enabler of the very thing you claim to be against--as long as the person in question has a D connected to their name.
mickey m: "...Democrat theives have run Fan and Fred since 1999,they along with the Clinton administration enacted the law..."
You need to review the United States Constitution.
NOTE: In Article I Section I, the Constitution reads "All legislative powers herein granted shall be vested in a Congress of the United States, which shall consist of a Senate and House of Representatives."
Perhaps you have forgotten, but REPUCKLICAN thieves were in control of Congress at that time. It was REPUBICHAIR Senator Phil Gramm who dropped that turd on the country.
Are you smart enough to find the part of the Constitution where it delimits President Clinton's options in that situation?
As you know, eight Senators voted against repeal of the GLASS-STEAGALL ACT. Which Senator, and member of which party protested most vociferously against the repeal?
I'm betting that you don't know enough about doing research on the Internets to find the answer to the above questions.
Also check "the community reinvestment act of 1977. And how it forced banks to start lending to people who were not capable of paying a mortgage.
This whole problem is a result of Liberal "social engineering".The old liberal entitlement bull.this time the entitlement was a HOME for anybody wether you can pay for it or not,don't worry the dems will make sure that the people who pay their mortgage will now, pay for yours.
Another lefist, socialist, entitlement, government hand-out at the expense of the American people who play by the rules. Social Engineering-ala,Castro and Clinton are what caused this mess. ENTITLEMENT-SOCIALISM-LIBERALISM-Fannie-Freedie!-Case-closed.