The Truth will prevail, But only if we Demand it from Congress!
9-11 Inside Job and Neocons Hacked 2004
Update: Digg it! Let’s get this onto the front page of digg.com and
spread the message.
The following statement is written by Congressman Paul about the
pending financial disaster. He will introduce this statement as a
special order and insert it into the Congressional Record next week.
Fortunately, we have the opportunity to debut it first on the
Campaign for Liberty blog. It reads as follows:
I have, for the past 35 years, expressed my grave concern for the
future of America. The course we have taken over the past century
has threatened our liberties, security and prosperity. In spite of
these long-held concerns, I have days—growing more frequent all the
time—when I’m convinced the time is now upon us that some Big Events
are about to occur. These fast-approaching events will not go
unnoticed. They will affect all of us. They will not be limited to
just some areas of our country. The world economy and political
system will share in the chaos about to be unleashed.
Though the world has long suffered from the senselessness of wars
that should have been avoided, my greatest fear is that the course
on which we find ourselves will bring even greater conflict and
economic suffering to the innocent people of the world—unless we
quickly change our ways.
America, with her traditions of free markets and property rights,
led the way toward great wealth and progress throughout the world as
well as at home. Since we have lost our confidence in the principles
of liberty, self reliance, hard work and frugality, and instead took
on empire building, financed through inflation and debt, all this
has changed. This is indeed frightening and an historic event.
The problem we face is not new in history. Authoritarianism has been
around a long time. For centuries, inflation and debt have been used
by tyrants to hold power, promote aggression, and provide “bread and
circuses” for the people. The notion that a country can afford “guns
and butter” with no significant penalty existed even before the
1960s when it became a popular slogan. It was then, though, we were
told the Vietnam War and a massive expansion of the welfare state
were not problems. The seventies proved that assumption wrong.
Today things are different from even ancient times or the 1970s.
There is something to the argument that we are now a global economy.
The world has more people and is more integrated due to modern
technology, communications, and travel. If modern technology had
been used to promote the ideas of liberty, free markets, sound money
and trade, it would have ushered in a new golden age—a globalism we
could accept.
Instead, the wealth and freedom we now enjoy are shrinking and rest
upon a fragile philosophic infrastructure. It is not unlike the
levies and bridges in our own country that our system of war and
welfare has caused us to ignore.
I’m fearful that my concerns have been legitimate and may even be
worse than I first thought. They are now at our doorstep. Time is
short for making a course correction before this grand experiment in
liberty goes into deep hibernation.
There are reasons to believe this coming crisis is different and
bigger than the world has ever experienced. Instead of using
globalism in a positive fashion, it’s been used to globalize all of
the mistakes of the politicians, bureaucrats and central bankers.
Being an unchallenged sole superpower was never accepted by us with
a sense of humility and respect. Our arrogance and aggressiveness
have been used to promote a world empire backed by the most powerful
army of history. This type of globalist intervention creates
problems for all citizens of the world and fails to contribute to
the well-being of the world’s populations. Just think how our
personal liberties have been trashed here at home in the last
decade.
The financial crisis, still in its early stages, is apparent to
everyone: gasoline prices over $4 a gallon; skyrocketing education
and medical-care costs; the collapse of the housing bubble; the
bursting of the NASDAQ bubble; stockmarkets plunging; unemployment
rising;, massive underemployment; excessive government debt; and
unmanageable personal debt. Little doubt exists as to whether we’ll
get stagflation. The question that will soon be asked is: When will
the stagflation become an inflationary depression?
There are various reasons that the world economy has been globalized
and the problems we face are worldwide. We cannot understand what
we’re facing without understanding fiat money and the
long-developing dollar bubble.
There were several stages. From the inception of the Federal Reserve
System in 1913 to 1933, the Central Bank established itself as the
official dollar manager. By 1933, Americans could no longer own
gold, thus removing restraint on the Federal Reserve to inflate for
war and welfare.
By 1945, further restraints were removed by creating the Bretton-Woods
Monetary System making the dollar the reserve currency of the world.
This system lasted up until 1971. During the period between 1945 and
1971, some restraints on the Fed remained in place. Foreigners, but
not Americans, could convert dollars to gold at $35 an ounce. Due to
the excessive dollars being created, that system came to an end in
1971.
It’s the post Bretton-Woods system that was responsible for
globalizing inflation and markets and for generating a gigantic
worldwide dollar bubble. That bubble is now bursting, and we’re
seeing what it’s like to suffer the consequences of the many
previous economic errors.
Ironically in these past 35 years, we have benefited from this very
flawed system. Because the world accepted dollars as if they were
gold, we only had to counterfeit more dollars, spend them overseas
(indirectly encouraging our jobs to go overseas as well) and enjoy
unearned prosperity. Those who took our dollars and gave us goods
and services were only too anxious to loan those dollars back to us.
This allowed us to export our inflation and delay the consequences
we now are starting to see.
But it was never destined to last, and now we have to pay the piper.
Our huge foreign debt must be paid or liquidated. Our entitlements
are coming due just as the world has become more reluctant to hold
dollars. The consequence of that decision is price inflation in this
country—and that’s what we are witnessing today. Already price
inflation overseas is even higher than here at home as a consequence
of foreign central bank’s willingness to monetize our debt.
Printing dollars over long periods of time may not immediately push
prices up–yet in time it always does. Now we’re seeing catch-up for
past inflating of the monetary supply. As bad as it is today with $4
a gallon gasoline, this is just the beginning. It’s a gross
distraction to hound away at “drill, drill, drill” as a solution to
the dollar crisis and high gasoline prices. Its okay to let the
market increase supplies and drill, but that issue is a gross
distraction from the sins of deficits and Federal Reserve monetary
shenanigans.
This bubble is different and bigger for another reason. The central
banks of the world secretly collude to centrally plan the world
economy. I’m convinced that agreements among central banks to
“monetize” U.S. debt these past 15 years have existed, although
secretly and out of the reach of any oversight of anyone—especially
the U.S. Congress that doesn’t care, or just flat doesn’t
understand. As this “gift” to us comes to an end, our problems
worsen. The central banks and the various governments are very
powerful, but eventually the markets overwhelm when the people who
get stuck holding the bag (of bad dollars) catch on and spend the
dollars into the economy with emotional zeal, thus igniting
inflationary fever.
This time—since there are so many dollars and so many countries
involved—the Fed has been able to “paper” over every approaching
crisis for the past 15 years, especially with Alan Greenspan as
Chairman of the Federal Reserve Board, which has allowed the bubble
to become history’s greatest.
The mistakes made with excessive credit at artificially low rates
are huge, and the market is demanding a correction. This involves
excessive debt, misdirected investments, over-investments, and all
the other problems caused by the government when spending the money
they should never have had. Foreign militarism, welfare handouts and
$80 trillion entitlement promises are all coming to an end. We don’t
have the money or the wealth-creating capacity to catch up and care
for all the needs that now exist because we rejected the market
economy, sound money, self reliance and the principles of liberty.
Since the correction of all this misallocation of resources is
necessary and must come, one can look for some good that may come as
this “Big Even” unfolds.
There are two choices that people can make. The one choice that is
unavailable to us is to limp along with the status quo and prop up
the system with more debt, inflation and lies. That won’t happen.
One of the two choices, and the one chosen so often by government in
the past is that of rejecting the principles of liberty and
resorting to even bigger and more authoritarian government. Some
argue that giving dictatorial powers to the President, just as we
have allowed him to run the American empire, is what we should do.
That’s the great danger, and in this post-911 atmosphere, too many
Americans are seeking safety over freedom. We have already lost too
many of our personal liberties already. Real fear of economic
collapse could prompt central planners to act to such a degree that
the New Deal of the 30’s might look like Jefferson’s Declaration of
Independence.
The more the government is allowed to do in taking over and running
the economy, the deeper the depression gets and the longer it lasts.
That was the story of the 30ss and the early 40s, and the same
mistakes are likely to be made again if we do not wake up.
But the good news is that it need not be so bad if we do the right
thing. I saw “Something Big” happening in the past 18 months on the
campaign trail. I was encouraged that we are capable of waking up
and doing the right thing. I have literally met thousands of high
school and college kids who are quite willing to accept the
challenge and responsibility of a free society and reject the
cradle-to-grave welfare that is promised them by so many do-good
politicians.
If more hear the message of liberty, more will join in this effort.
The failure of our foreign policy, welfare system, and monetary
policies and virtually all government solutions are so readily
apparent, it doesn’t take that much convincing. But the positive
message of how freedom works and why it’s possible is what is
urgently needed.
One of the best parts of accepting self reliance in a free society
is that true personal satisfaction with one’s own life can be
achieved. This doesn’t happen when the government assumes the role
of guardian, parent or provider, because it eliminates a sense of
pride. But the real problem is the government can’t provide the
safety and economic security that it claims. The so-called good that
government claims it can deliver is always achieved at the expense
of someone else’s freedom. It’s a failed system and the young people
know it.
Restoring a free society doesn’t eliminate the need to get our house
in order and to pay for the extravagant spending. But the pain would
not be long-lasting if we did the right things, and best of all the
empire would have to end for financial reasons. Our wars would stop,
the attack on civil liberties would cease, and prosperity would
return. The choices are clear: it shouldn’t be difficult, but the
big event now unfolding gives us a great opportunity to reverse the
tide and resume the truly great American Revolution started in 1776.
Opportunity knocks in spite of the urgency and the dangers we face.
Let’s make “Something Big is Happening” be the discovery that
freedom works and is popular and the big economic and political
event we’re witnessing is a blessing in disguise.
