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Tonight -- a doctor whatever happened to the dollar.
As the Federal Reserve continues to print more and more money the dollar's value steadily declines.
And as the Fed metals with the market and -- with the market inflation rears its ugly head.
Affecting initially the prices of food and fuel.
And therefore affecting your pocketbook.
Of course when the Federal Reserve measures inflation it omits food and fuel how convenient.
In 1913 the Federal Reserve System was created for most of the history of this country we've endured without a Federal Reserve.
And the Great Depression of course of course occurred under the Federal Reserve's watch.
In 1971 president Richard Nixon -- the United States off the gold standard that the dollar could become the Fiat currency of the world.
Backed by nothing but empty promises from the federal from the governments which continue to think we can turn our way to prosperity.
This established a dangerous precedent as eventually all currencies around the world became Fiat currencies money that derives its value.
From the wins an empty promises of the government's.
What do we do to return to an era of sound money.
What does it mean to have money we can trust.
The gas -- tonight's show we'll tell us how we can return to gold standard when a currency free for free from influence of government would look like.
And why we should audit and ultimately ended the Federal Reserve System these issues are crucial to the fight in the fight to stop the federal government.
From spending more money than it takes it.
-- handicapping our children our grandchildren.
And future generations.
Here to discuss all this is Amanda was single handedly.
Educated the nation to the evils of worthless money.
And to the dangers of a Central Bank with a printing press and continues to believe that fighting for economic liberties is just as important as fighting for civil liberties.
A Texas Republican congressman and Republican presidential hopeful Ron Paul congressman fall as always a pleasure.
Welcome to this special edition of freedom watch on money.
Thank you very much congressman what what happened in a Ron Paul presidency if we were to return to the gold standard how soon could this happen and -- How would it happen.
I -- you could do it overnight -- you could do a few things like repealing.
Or are you getting rid of the executive order -- Nixon but that itself would be enough.
You know we know what to do we did it wants after the civil war period we went from you -- Paper stand back to gold standard and event wasn't -- that dramatic.
But today the big problem is it both conservatives and liberals have a big appetite for government for different reasons therefore they need to -- To tide them over and monetize the debts if you don't get rid of that appetite is going to be more difficult but the transition isn't that difficult you have to get your houses in order.
He had to balance the budget.
You have to do not run up debt and yet the promise not pretty more money.
That's what they did after -- the civil war and was accepted and we went right back to the gold standard.
-- that is the biggest challenge.
So it's difficult I would like to have a transition period.
In just legalize.
Golds and you know gold money and allow us to use -- over his legal tender and we could work our way back.
Well I I have to agree with you but I would even go a step further and say if if gold and silver.
Were but became currency that would drag Paper money out of and who would want the Paper money when you -- real gold and real silver.
-- -- Well if you leases if you wish there was a fixed exchange rate sure we would never pay our bills off with the -- would pay -- in the Paper.
Because it drives -- good money out of certain circulation.
But this thing you don't in this that you wanna checking account you want to deal would it would goal.
You can put your money again and -- you could buying and selling gold and saving gold.
Until would be parallel rather have a fixed exchange rate between the two -- be tried to fix them.
Would work right now.
It is this a pipe dream or might -- I had some time in the near future.
Actually be able to show up at the gold window that is still bear the -- -- Richard Nixon closed the 1971.
And he and whoever's on the other side of the window dollar bills and received from that person the equivalent in the -- fair market value of actual gold -- actual silver might that happen.
Well I -- I think you'd have to be completely on the gold standard they would be parallels standards that would be that would be the goal.
But that's not on the near horizon.
But that should be to go about what we want to do is actually legalize the use of gold and silver as the constitution dictates rather than punishing the people right who who try to do that that's where there.
The real dilemma hands but.
Yes it will come about the system here I'm.
Quite convinced that the system we have here will not be maintaining investment these last four years is -- -- that's with the turmoil.
In Europe is all about -- this will win the question is are they gonna move toward a constitutional form of money are we going to go another step further.
Into international money.
Instead of having an international gold standard based on the market.
Are we gonna go toward you win IMF standard where they're going control.
With the use of force another Fiat -- standard.
That's what the many people working for -- I consider that.
Very very dangers.
The last time you proposed.
That the Federal Reserve should be audited you have more than half the House of Representatives agreeing with the proposal.
And -- passed overwhelmingly even some of your polar opposites ideologically we're agreeing with you and as you know we're right on after you on the show to talk about this is congressman.
Dennis Kucinich but where does this stand in this congress.
This time around.
Are we going to get a real serious true audit.
Of the Federal Reserve because everybody liberals conservatives.
Democrats Republicans libertarians progressives.
Have had enough.
Well I wished I could say that we're better off now since we're in charge of the house that unfortunately we're not moving sometimes these things -- -- -- -- partisan manner.
Where these deals aren't that they've used come through the domestic monetary policy subcommittee.
Of which I am the chairman.
Has no longer been directed to that committee based on it has been sent every government oversight so I have been hamstrung to a degree.
On actually pushing that type of legislation.
That means their heart is not in it and that means we need a lot more work for the people to put the pressure.
On the members of congress that's why we did get so far last time because we mobilize the people when they were telling their members of congress you better support them.
Position of auditing the -- That right now there -- a lot more talk about the super committee on and how they're going to mess around with the budget and the pretense that are actually gonna cut RBS dominating the news.
So when you when I first met which was a long time ago you may have been the only member of congress talking about auditing the Fed.
But am -- hearing you say congressman Paul that there might actually be more resistance from Republicans particularly the Republican leadership.
In the House of Representatives than anybody else to this vital piece of legislation.
To reveals secrets that everybody has a right to know.
I don't have concrete evidence I haven't had a statement but I do know.
That I could have had more jurisdiction I had have now had a in the past the -- always -- -- in the past.
But it's gone in -- different direction.
This time so and so there is a different.
The -- I think that.
Winning push comes to -- there are people at the leadership of both Republican and democratic parties have too much at stake.
To mess around with the Federal Reserve unless there's a political.
I gamesmanship plane they're making gains and politics understood congressman -- -- -- -- it's a pleasure thanks for joining us thanking god.
Perhaps the most notable politician.
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