Ron Paul: Bailout Will Destroy Dollar, World Economy Congressman slams Federal Reserve power monopoly on House floor as vote nears Paul Joseph Watson, September 29, 2008
As a vote nears on the $700 billion dollar plus bailout bill, Congressman Ron Paul took to the House floor this morning to warn that the passage of the legislation will destroy the dollar and the world economy.
Stating that the passage of the bailout bill would only make the problem worse, the Congressman from Texas said, “This has nothing to do with free market capitalism, this has to do with a managed economy, an inflationary system, corporatism, a special interest system, and this has nothing to do with the failure of our free markets and capitalism.”
Paul blamed the current crisis on a Federal Reserve power monopoly over the money and credit system, the ceaseless borrowing and printing of money, and dismissed the bill as nothing but more of the same.
“Long term this is disastrous,” continued the Congressman, “we’ve already pumped in $700 billion dollars, here’s another $700 billion dollars - this is going to destroy the dollar - that’s what you should be concerned about - if you destroy the dollar you’re going to destroy a worldwide economy and that’s what we’re on the verge of doing.”
Paul said that the long term implications of the bailout would be a lot more serious than the problems currently being experienced by Wall Street.
The Congressman called for more oversight and warned, “What we’re doing today is going to make things much worse.”
Paul expressed his frustration that free market economists who predicted the crisis were being ignored while the people who created the problem were being given the responsibility to offer a solution.
The Congressman was not afforded the time to read his full prepared remarks, but they were entered into the Congressional record and can be read at Paul’s Campaign For Liberty website.
Paul’s comments follow those of Congresswoman Marcy Kaptur, who slammed the bailout bill this past weekend as the work of criminal insiders who have shut down the normal legislative process to commit “high financial crimes” and defraud the American people, while Rep. Michael Burgess warned that “martial law” had been declared by Nancy Pelosi in order to ram the bill through. Watch the clip.
Congresswoman: Criminal Insiders Behind Bailout Bill Rep. Kaptur: Normal legislative process has been shut down, high financial crimes committed, Republican Michael Burgess says “martial law” has been announced. Paul Joseph Watson, September 29, 2008
Congresswoman Marcy Kaptur boldly slammed the bailout bill this past weekend as the work of criminal insiders who have shut down the normal legislative process to commit “high financial crimes” and defraud the American people, while Rep. Michael Burgess warns that “martial law” has been declared.
The two Congress members are part of a growing minority of representatives sounding the alarm about the dictatorial nature of the bailout bill, which is expected to be up for a vote in the House today, with most in Congress having not had the opportunity to even read the legislation.
The bill is expected to reach the Senate on Wednesday as a raft of outraged politicians cry foul about being strong-armed and accused of being unpatriotic for opposing the carte-blanche passage of a piece of legislation that fundamentally centralizes control of the financial infrastructure of the country into the hands of the government and the Federal Reserve.
“We are Constitutionally sworn to protect and defend this Republic against all enemies foreign and domestic. And my friends there are enemies,” Kaptur told the House floor.
“The people pushing this deal are the very ones who are responsible for the implosion on Wall Street. They were fraudulent then and they are fraudulent now.”
“My message to the American people don’t let Congress seal this deal. High financial crimes have been committed,” added the Democrat from Ohio.
Rep. Michael Burgess (R-TX) reports from the floor of the House that the Republicans have been cut out of the process and called unpatriotic for not blindly supporting the fraudulent bailout. He says the only debate has been about what talking points to use on the American people. The most ominous revelation is when he claims the Speaker has declared martial law.
“I have been thrown out of more meetings in this capital in the last 24 hours than I ever thought possible, as a duly elected representative of 825,000 citizens of north Texas.” Said Congressman Burgess.
Burgess asks the Speaker of the House to post the bailout bill on the internet for at least 24 hours instead of passing the largest piece of legislation in US financial history in the “dark of night.”
The most frightening part of Rep. Burgess’ one-minute floor speech is when he says, “Mr. Speaker I understand we are under Martial Law as declared by the speaker last night.”
Discussion Draft of yet unnumbered House Resolution Bill to turn your life and liberty over to the elitist who really control this country. Think of it as the Emancipation Proclamation in reverse.