Ron Paul --Mortgage Crisis--Straight Talk to Congress
Ron Paul speaks in the Congressional Mortgage Crisis Aid debate on the "mother of all bailouts." He shines a light on the fact that this 800 billion dollar bail out package is not nearly as big as the bail out the Federal Reserve has been engaged in for years in printing money. Congressman Paul explains that every time the federal reserve prints more money, it is a bail out in essence and adds to the National debt. Dr. Paul calls attention to an absurd item in the new mortgage aid bill that requires anyone who works in the mortgage industry to be fingerprinted. He points out the absurdity of this new requirement and the fact that not fingerprinting mortgage brokers is not what got us into the mortgage crisis we are seeing. It is fundamental philosophy in our monetary system. Ron Paul ends his speech with a profound remark. "We created this problem with inflation, You cant end it with more inflation." Congressman Paul predicted this mortgage crisis. He introduced legislation in 2001 that would have addressed the Multi Billion dollar line of credit to Freddie Mac and Fannie Mae (both of which have failed.) He addresses fundamental problems with the monetary system in the US and is against the mortgage aid bill. Ron Paul Predicted the Mortgage CrisisRon Paul interviewed after taking Federal Reserve Ben Bernanke to task. Congressman Pauls philosophy involves restraining the Federal Reserves power to create money out of thin air. He states that the dollar is devalued when that happens. The current Mortgage crisis bailout package will devalue the US Dollar. He compares the mortgage crisis bailout package to giving a shot of drugs to a drug addict.... He feels better for a while but the underlying problem still exists.
Congressman Paul Says " We dont need a world class regulator, What we need is a world class Dollar."Congressman Paul speaks again about our deeply flawed monetary system and gives Ben Bernanke a pass on the blame for the current mortgage crisis.He says we need a world class dollar...a dollar that is sound, not a dollar that continues to depreciate. We also need to restrict power of the federal reserve to promote a system of inflation and deficit financing to bail out everybody.The mortgage crisis was predictable when the practices of the Federal reserve encouraged banks and investors to do the wrong thing. leave Ron Paul Mortgage Crisis page learn more about Mortgages Read more on the current mortgage crisisAngry RentersCafferty on the Mortgage Bailout Dick Armey on Angry Renter.com Joe Biden Speaks on Foreclosures Mortgage Crisis effect on falling Home Values
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