Tag Archives: texas

Rand Paul raises $2.5 million in 3rd quarter – CNNPolitics.com

Story highlights

That haul is just a fraction of the $20 million the campaign of retired brain surgeon Ben Carson says it is on track to post for the third quarter — half of that money coming in in September alone.

Paul’s third quarter total is well under the $7 million the libertarian firebrand raised in the second quarter. Part of that money was transferred from his Senate committee, a practice allowed under campaign finance laws, Gor said.

Paul was one of the first candidates to announce his bid, but has been polling in the low single digits in the race for the Republican nomination, but he has no plans to follow in the footsteps of low-polling Govs. Rick Perry of Texas and Scott Walker of Wisconsin and pull out of the race.

“Rand Paul’s campaign is on an upswing, despite what a lot of reporters have written out there,” Gor said. “Polls go up and down and this is literally a marathon and not a sprint. The fact that we are raising more than we’re spending is a great indication that we’re in this for the long haul.”

Gor said Paul’s campaign had raised $750,000 of its total for the quarter just since the CNN debate on Sept. 16, which he said was an indication that the base was excited by what he called the senator’s “strong showing” at the Ronald Reagan Presidential Library in Simi Valley, California.

RELATED: Rand Paul: I’ll outlast ‘clown’ Donald Trump

Paul has struggled to gain traction in a campaign season that has been dominated by so-called outsider candidates — like Donald Trump, Carson and more recently Carly Fiorina — who have never been elected to public office. Still, his campaign argues it has a built in advantage because of his father’s, former Rep. Ron Paul, past White House bids and can benefit from networks already established in early states like Iowa, New Hampshire and Nevada, rather than having to build them from scratch.

The campaign has hired on new staffers in Nevada in recent weeks, though officials will not provide specific numbers on staffing levels.

“We’ve always said we’ll have enough money to compete,” Gor said.

Gor argued that while other campaigns – like Jeb Bush’s and Carson’s — may bring in more money, Paul’s small-donor focus is a good indicator of interest in his run. His campaign had more than 100,000 individual donors in the second quarter, compared to fewer than 10,000 for Bush, Gor said.

Paul, who is also running for re-election to the Senate, expects to participate in the next debate on CNBC on Oct. 28 — another chance to make his case to voters before a large television audience.

“We’re pleased that Sen. Paul will once again be on the main stage,” said Gor.

Despite the campaign’s view, it is not yet clear who will meet the criteria spelled out by CNBC. The network announced Wednesday that candidates must have an average of at least 3% among recognized national polls in order to participate in their primetime debate. Candidates who can’t clear 3% will be relegated to the second-tier debate. Paul is one of several candidates hovering around the 3% mark in an average of recent national polls.

See the original post:
Rand Paul raises $2.5 million in 3rd quarter – CNNPolitics.com

Posted in Rand Paul | Tagged , , , , , , , , , | Comments Off on Rand Paul raises $2.5 million in 3rd quarter – CNNPolitics.com

Rand Paul raises $2.5 million in second quarter – The …

This story has been updated. It was originally posted at 3:10 p.m.

Sen. Rand Paul (R-Ky.) will report around $2.5 million in donations to his presidential campaign, a dip from his first quarter, though his campaign is emphasizing that more money started to roll in recently.

“Not only are we in for the long haul but weve seen an uptick in crowds and support,” said Paul’s spokesman Sergio Gor. “Since the last debate weve raised $750,000.”

One of the first candidates to officially declare for the White House, Paul had raised close to $7 million from April through June. That was slightly more than his father, former Texas Congressman Ron Paul, raised in the comparable period of his 2012 bid. But in the next quarter of that campaign, Ron Paul raised$8 million.

Gor emphasized that the new Paul campaign was on an “upward trend,” especially since the second presidential debate. Paul had used thatforum emphasize his more libertarian stances, something some key Paul donors had privately asked for. “That was due to a solid debate performance that got our crowd excited,” said Gor. “We’re a solid campaign and our fundraising pace is doubling.”

But the dropoff from the first quarter, coupled with thetroubles of two pro-Paul super PACs, could aid the ongoing efforts of Sen. Ted Cruz (R-Tex.) to lure supporters into his camp. The weeks between the first and second debate saw one pro-Paul super PAC’s leaders indicted, and another (less active) pro-Paul PAC announce that it was pausing its efforts until the candidate improved in the polls. The campaign has $2 million cash on hand, having already spent $250,000 to help the Republican Party of Kentucky pay for a presidential caucus. That will let Paul seek a Senate re-election as he tries toforgeahead in the White House race — something the campaign says it has more than enough money and momentum to do.

Paul spent an estimated $4.66 million in the last three months, nearly the double the amount of money he raised — a burn rate that will require a substantially faster fundraising pace.

Matea Gold contributed to this story.

David Weigel is a national political correspondent covering the 2016 election and ideological movements.

See the original post:
Rand Paul raises $2.5 million in second quarter – The …

Posted in Rand Paul | Tagged , , , , , , , , , , , , , | Comments Off on Rand Paul raises $2.5 million in second quarter – The …

Rand Paul rebukes Ted Cruz as their rift widens – CNNPolitics.com

Story highlights

Paul criticized Cruz for breaching Senate decorum, saying the Texan could not accomplish any of his legislative priorities because of how much his GOP colleagues despise him.

“Ted has chosen to make this really personal and chosen to call people dishonest in leadership and call them names, which really goes against the decorum and also against the rules of the Senate, and as a consequence he can’t get anything done legislatively,” Paul said in an interview on Fox News Radio on Tuesday. “He is pretty much done for … and it’s really because of personal relationships, or lack of personal relationships, and it is a problem.”

Paul said he was “still just as hardcore” in taking on the establishment as Cruz, but has declined to call colleagues names.

Last month, Cruz said on the Senate floor that Senate Majority Leader Mitch McConnell had lied to him.

Paul and Cruz have had a close relationship as two of the most libertarian members of the Senate GOP. But even though they were both elected with tea party support, they have increasingly forged different paths to power in the Senate.

Paul has allied himself with fellow Kentuckian McConnell, endorsing the Senate majority leader during his re-election bid last year when the ultimate insider faced down a conservative primary challenger. McConnell reciprocated the favor by endorsing Paul’s presidential bid this year.

Paul’s critique of Cruz came on the same day the Texas senator unveiled a leadership team of libertarians who supported Paul’s father, former Rep. Ron Paul of Texas.

The “Liberty Leaders for Cruz” coalition featured Iowans saying Ron Paul’s legacy was best perpetuated by Cruz.

“The biggest thing about Ted Cruz was that I knew he had been endorsed by Ron Paul and by Rand Paul,” said county supervisor Crystal McIntyre Tuesday, speaking of Cruz’s Senate race.

Rand Paul rebukes Ted Cruz as their rift widens – CNNPolitics.com

Posted in Rand Paul | Tagged , , , , , , , , , , , , | Comments Off on Rand Paul rebukes Ted Cruz as their rift widens – CNNPolitics.com

Rand Paul shreds Ted Cruz over his showboating antics: He is …

Rand Paul may very well already beon his way out of the Republican presidential campaign, but hes going out with a bang, not a whimper, forcefully rebuking his Senate colleague and Republican presidential rival, Ted Cruz, for being the root of Senate dysfunction.

Paul told Fox News Brian Kilmeadethat he believed Cruzs petty politics and disregard for Senate decorum have made him an ineffective legislator, writing off the Texas freshmans future in the senate: He is pretty much done for:

Ted has chosen to make this really personal and chosen to call people dishonest in leadership and call them names which really goes against the decorum and also against the rules of the senate, and as a consequence he cant get anything done legislatively. He is pretty much done for and stifled and its really because of personal relationships, or lack of personal relationships, and it is a problem. I approach things a little different, I am still just as hardcore in saying what we are doing , I just chose not to call people liars on the Senate floor and its just a matter of different perspectives on how best to get to the end result.

Paul has a point.

In July, Cruz called Senate Majority Leader Mitch McConnell, the effective leader of the Republican Party, a liar on the Senate floor. Days later, his Republican colleagues refused to grant him the 16 votes needed to pass a simple procedural vote as a public rebuke of his outburst. This week, McConnell got his revenge, denying (for now) Cruz the government shutdown over Planned Parenthood he so desperately wanted to prop up his presidential campaign. Of course, that didnt stop the stunts from Cruz he tried to offer up a referendum on McConnells leadership this week before being summarily shutdown by his fellow Republican senators.

Of course, Paul is mostly just backing up the senior senator from his home state of Kentucky, as he actually opposes the continuing resolution set to pass this week to keep the government operating for the time being. Paul, like Cruz, is in favor of defunding Planned Parenthood, even if that means shutting down the government over it. He just disagrees with Cruzs tact:

I would defund not only Planned Parenthood but hundreds and hundreds of regulations, hundreds and hundreds of wasteful programs. I would take them all out, put them on the table and say You know what Democrats, it doesnt take 60 votes to defund something, its actually going to take 60 votes to fund any of these programs, vote on them one at a time and we will see how many of these crazy programs get 60 votes. My guess would be very few, but that would take the courage to let the spending expire and start anew and let new programs all require 60 votes to pass

Paul and Cruz would appear to be natural allies, with their Tea Party base of support and their libertarian bents, but since entering the Senate, the two have had markedly different styles. Cruz has been on a seemingly non-stop rant against the D.C. establishment while Paul has forged friendships and close political alliances with the partys top leaders as he works double-time to keep his Senate seat while running for president.

Read the rest here:
Rand Paul shreds Ted Cruz over his showboating antics: He is …

Posted in Rand Paul | Tagged , , , , , , , | Comments Off on Rand Paul shreds Ted Cruz over his showboating antics: He is …

Ron Paul | LinkedIn

After serving in the US Air Force as a flight surgeon, I started an Ob/Gyn practice in Brazoria County, Texas and have since delivered over 4,000 babies. I decided to enter politics when President Nixon broke the last link between the dollar and gold, thus starting the inflation that continues to destroy the value of the dollar and undermine the earnings of all Americans.

I have served ten terms in Congress and have never wavered from my commitment to the Constitution and the principles of a free society. In 1976, I was one of four sitting GOP Congressmen to endorse the upstart Ronald Reagan in the Republican primaries. But I also spoke out against the unprecedented deficits incurred by Reagan’s administration.

For my relentless opposition to unconstitutional legislation, I have been called: “Dr. No” The “Taxpayers’ Best Friend” by the the National Taxpayers Union The “one exception to the Gang of 535″ on Capitol Hill by former Treasury Secretary William Simon.

I have worked tirelessly for limited constitutional government, individual rights, low taxes, free markets, a peaceful foreign policy and sound monetary policies. I am running for President as a Republican to bring the Grand Old Party back to its roots as the party of the 1994 Revolution, President Reagan, Sen. Goldwater and Sen. Taft.

My Google interview is available at http://www.youtube.com/watch?v=yCM_wQy4YVg

Specialties:Obstetrics, gynecology, Austrian economics, monetary theory, the U.S. Constitution, American history, civil liberties, political activism.

View post:
Ron Paul | LinkedIn

Posted in Ron Paul | Tagged , , , , , , , , , | Comments Off on Ron Paul | LinkedIn

Rand Paul calls for term limits, says Trump has peaked

Paul Egan, Detroit Free Press 9:12 p.m. EDT September 19, 2015

Sen. Rand Paul(Photo: AP Photo)

MACKINAC ISLAND, Mich. The federal government never gets any smaller because Americans leave members of Congress in Washington too long, Sen. Rand Paul of Kentucky told the Mackinac Republican Leadership Conference on Saturday in calling for federal term limits.

“We should term limit them all, fumigate the place and bring them home,” said Paul, who is seeking the Republican nomination for president.

Paul said in an after-dinner speech at the Grand Hotel that both Republicans and Democrats stay in Congress too long and become part of a system they can’t shrink.

Paul also hammered Hillary Clinton, the former secretary of state who is the front-runner for the Democratic nomination for president, for her handling of security at the embassy in Benghazi, Libya, prior to a 2012 attack and for putting sensitive and potentially classified emails on a private server that was not secure.


Elections 2016 | USA TODAY Network


Michigan GOP confab kicks off with barroom brawl between Rubio, Paul staffers

Earlier Saturday, Paul said he expects “a reshuffling of the numbers” in the 16-way Republican presidential race after Wednesday’s nationally televised second debate. And he has set himself apart as a candidate who can gain support.

“I think we’ve seen the crest of Donald Trump and hopefully we’ve seen the last of him as someone leading in the primaries,” Paul told reporters on Mackinac Island in advance of his Saturday night speech to the Mackinac conference.

“I think he’s yesterday’s news,” and “I don’t think he rises to the bar of someone we should consider,” Paul said in reference to the New York real estate tycoon and reality TV star who developed an early double-digit lead in polls, and remains the front-runner, in the race for the Republican presidential nomination.

Paul is the son of physician and former U.S. Rep. Ron Paul of Texas, who ran for president as a Libertarian in 1988 and as a Republican in 2008 and 2012.

The Kentucky senator told reporters he’s set himself apart by taking strong positions in favor of personal privacy by opposing the mass collection of telephone data by national intelligence agencies and by opposing sending people to prison for minor drug offenses such as possession of marijuana. He said he’s also the only candidate who has set out a plan for how Republicans can expand their support into large, mostly black cities such as Detroit without changing the party’s basic messages.

Paul has visited Detroit and set out a plan for economic freedom zones that he said would leave an extra $1 billion in Michigan’s largest city.

“We have a strong operation in Michigan and Michigan is a big part of our strategy,” Paul said. “A lot of emphasis goes on the first four states, but Michigan is right after that, and so if you’re not prepared to be organized in the states after the first four primaries, you really can’t win this race.”

Read or Share this story: http://usat.ly/1KnNXDD

See the article here:
Rand Paul calls for term limits, says Trump has peaked

Posted in Rand Paul | Tagged , , , , , , , | Comments Off on Rand Paul calls for term limits, says Trump has peaked

Rand Paul sees students as his ticket to White House …

Story highlights

The Kentucky senator is looking to build on his father’s strong finish in the 2012 Iowa caucuses this presidential cycle — and he’s hoping Iowa’s large student population can be his secret weapon.

The organizing has already begun. Friday night, Paul is at Iowa State University for a Stand with Rand student rally — where he announced that his campaign had more than surpassed its goal to open 300 new Students for Rand chapters in 30 days.

The effort was announced in August, and on Friday, Paul announced that his campaign has 339 student chapters nationwide, days ahead of schedule.

RELATED: Paul woos college students

In Iowa, the campaign has 16 college chapters, including its inaugural chapter at University of Iowa and other units at Iowa State, University of Northern Iowa and Drake University.

If the previous numbers are any indication, Paul’s strategy could pay off on caucus night. His father won nearly 50% of the youth vote last cycle, propelling him to a close third-place finish in the caucuses.

But experts caution Paul can’t take anything for granted — and the competition for the student vote could be much more intense this time around.

In 2012, the Jan. 3 Iowa caucuses were held when colleges were on winter break, meaning many out-of-state young voters weren’t on campus. This cycle, the caucuses have been moved back to Feb. 1 — meaning students will be in session.

The Paul campaign thinks if they mobilize right, that could make a huge difference for the 2016 campaign.

“The ideas that Rand stands for are what get youth excited, and we are going to build this infrastructure in a way that we can take that excitement and build it into actual votes so Rand can win this nomination,” said Cliff Maloney, the national youth director for Paul’s presidential campaign.

In 2012, Ron Paul came in third place in the caucus, with just over 26,000 votes. Nearly one-third of that support came from caucus-goers under the age of 30, according to The Center for Information & Research on Civic Learning & Engagement at Tufts University. Ron Paul got 48% of the under-30 vote that night, with turnout overall in that demographic at 4%.

Paul trailed the top two finishers, Rick Santorum and Mitt Romney, by about 3,800 votes. The next-highest finisher was 10,000 votes behind Paul.

The math, at least, is on Rand Paul’s side. There were 55,700 registered Republicans aged 18 to 24 years old in the 2014 midterm election, 35% of whom actually voted. In the 2012 general election, the last presidential cycle, there were 61,551 registered Republicans in that age range, 64% of whom voted. Iowa also allows same-day registration — a huge advantage for organizers convincing students to show up at the last minute.

With 16 candidates in the primary this time, experts agree that a few thousand votes could be a major boost in the caucus.

Paul’s campaign is calling it the Iowa 10,000: The goal is to get that many college and high school students to caucus for him.

“If we get 10,000 students to caucus for Rand, we’re going to be in a very good position,” Maloney said, declining to predict a finishing place.

But his strategy could pay off big, said Alex Smith, national chairwoman of the College Republican National Committee.

“There is a huge, huge opportunity for young people to be reached by these campaigns, because altering those (Iowa) numbers even just slightly, especially when you’re talking about the difference between first and second or second and third, you could alter the whole balance of the election by just tinkering with those few votes,” Smith said.

And, she noted, she’s seen some of the right moves from the Paul campaign.

“You can’t send direct mail or advertising to an 18-24 year old on a college campus, that’s just not going to work,” Smith said, emphasizing the importance of tailored, personal outreach. “But if you look at Rand Paul, he was one of the first candidates to be on SnapChat … he often visits college campuses, which not many candidates do, and those are two examples of where he’s taking his message, again a relevant message to this generation, directly to them.”

The current and former Iowa GOP chairmen both note examples of past candidates who have shift the Iowa caucus by bringing in new demographics. In the 1980s, Pat Robertson permanently remade the electorate by turning out evangelical Christians, said former Chairman Matt Strawn and current Chairman Jeff Kaufmann. Last cycle, Ron Paul successfully capitalized on the youth vote, they said, and President Barack Obama famously sent shock waves through the 2008 primary by turning out young people in strong numbers to take the Iowa caucus from Hillary Clinton.

At the same time, those examples are notable because they defied the norm.

“I think that it is still very much an open issue whether Sen. Paul can replicate the success his father had in bringing new participants to the caucus that are more libertarian-oriented,” Strawn said, noting that the Feb. 1 caucus date will help.

“But while Sen. Paul may have an advantage with the caucus calendar, there is a Bernie Sanders-sized challenge that he has to overcome on college campuses,” Strawn added. “In 2012, the hipster campus culture thing to do was to caucus for Ron Paul. So far this season, the counter-culture campus thing to do is campaign for Bernie Sanders.”

And it’s not just Sanders competing for the youth vote, Strawn and others noted. Campaigns are recognizing the importance of Millennial this cycle. Former Florida Gov. Jeb Bush announced his own campus push on Thursday, saying he had 135 chapters in 36 states. His goal is 450 campus units.

RELATED: Bush launches campus effort

And Texas Sen. Ted Cruz is also making a strong play for the libertarian-leaning voter, offering an anti-Washington message. There’s also mogul Donald Trump, who attracts a wide range of traditional and nontraditional voters.

“I’m sensing competition this year for those libertarian younger voters, and actually if I could be more general, I’m sensing more competition for those libertarian caucus-goers,” Kaufmann said. “I think Ted Cruz is putting on a pretty vigorous offensive for those voters, I think Donald Trump is dipping into that pool, so I think this year there’s going to be more competition for those voters than when Ron Paul ran.”

So what’s the best way for Paul’s campaign to make sure those students show up?

“That’s the secret sauce,” Maloney said. “Let’s just say it’s all about the infrastructure and the excitement.”

Go here to read the rest:
Rand Paul sees students as his ticket to White House …

Posted in Rand Paul | Tagged , , , , , , , | Comments Off on Rand Paul sees students as his ticket to White House …

Rand Paul: Trump third party run "could give us another …

Presidential candidate Rand Paul is planning to sign the Republican National Committee’s loyalty pledge and forego a third party run — and is cautioning that if Donald Trump doesn’t sign it, the billionaire could hand a 2016 victory to Democrats.

“What I don’t like about Donald Trump is his using the Republican party and then perhaps going out at the very end after he doesn’t win the nomination and then trying to destroy the Republican party,” Paul told “CBS This Morning” early Thursday. “Ross Perot, you know, ended up giving us the first Clinton and I think that if Trump does this again, he could give us another Clinton.”

Others in the party, like Wisconsin Gov. Scott Walker and former tech executive Carly Fiorina, also received the pledge and have declared their intention to sign it. Trump is set to meet with RNC chairman Reince Priebus Thursday to discuss the loyalty promise.

While Paul has yet to discuss the pledge circulated by Priebus, the Kentucky Republican would, “in all likelihood,” put his name on the document.

Play Video

Donald Trump is the only candidate who has threatened to mount a third party campaign. CBS News political director and host of Face the Nation …

“We have said in the past that I am not going to run as a third party candidate,” Paul added. “And I think that is a reasonable pledge to take.”

He did, however, express sympathy for third-party candidates because “sometimes the two parties don’t do a very good job.”

“Third parties do provide pressure on the two parties to do better, actually,” Paul said. In 1988, Paul’s father, former Texas congressman Ron Paul, announced his presidential candidacy as a Libertarian.

Play Video

Kim Davis could learn her fate Thursday after refusing to issue marriage licenses to same-sex couples, citing religious views. Davis wants a judg…

The Kentucky Republican also weighed in on Kim Davis, the Rowan County clerk defying the Supreme Court ruling on same-sex marriage and refusing to issue marriage licenses to gay couples.

“If society is going to change its opinion on what marriage is, I think it’d probably be better through persuasion than through sort of an aggressive tactic where we federalize everything and force people to do things they don’t want to do,” Paul said, defending the Kentucky clerk’s resistance. “Ultimately, I think it would be better to probably let people make their own decisions.”

Kim Davis and her deputies are slated to explain to a federal judge why they shouldn’t be held in contempt of court, even though they continue to defy the justices.

But Paul cautioned that if same-sex marriage advocates “push too hard, they’re actually going to make things worse.”

“I think persuasion is a much better way than sort of bullying people to believe in what you believe in,” he said.

Others in the GOP, however, have advised that Davis’ actions are inappropriate, given her position as a government official.

South Carolina Sen. Lindsey Graham said Turesday that “as a public official, comply with the law or resign,” while New Jersey Gov. Chris Christie added that someone working in goverment “has a bit of a different obligation than someone working in the private sector.”

Nationwide, clerks in 13 counties are refusing to issue marriage licenses to same-sex couples, including nine in Alabama, where the chief justice of the State Supreme Court is strongly opposed to same-sex marriage.

2015 CBS Interactive Inc. All Rights Reserved.

Follow this link:
Rand Paul: Trump third party run "could give us another …

Posted in Rand Paul | Tagged , , , , , , , , , , , , , , | Comments Off on Rand Paul: Trump third party run "could give us another …

Urban Dictionary: Ron Paul

Ronald Ernest Paul (born August 20, 1935) is a 10th-term Congressman, obstetrician (M.D.), and a 2008 presidential candidate from the U.S. state of Texas, seeking the nomination of the Republican Party.

As a Republican, he has represented Texas’s 14th congressional district in the U.S. House of Representatives since 1997, and represented Texas’s 22nd district in 1976 and from 1979 to 1985.

Paul advocates a limited role for the federal government, low taxes, free markets, a non-interventionist foreign policy, and a return to monetary policies based on commodity-backed currency. He has earned the nickname “Dr. No” because he is a medical doctor who votes against the bills that he believes conflict with the Constitution.1 In the words of former Treasury Secretary William Simon, Paul is the “one exception to the Gang of 535″ on Capitol Hill.2 He has never voted to raise taxes or congressional pay, and refuses to participate in the congressional pension system.3 He has consistently voted against the USA PATRIOT Act, the Military Commissions Act of 2006, and the Iraq War.

Person 2: “HAHAHA!! Everyone knows no such person exists anymore, they all died with our freedoms and liberties.”

Person 1: “Actually, there is one person left who represents those characteristics– his name is Ron Paul, and he’s running for president.”

Read the original here:
Urban Dictionary: Ron Paul

Posted in Ron Paul | Tagged , , , , , , , , , , , , , , | Comments Off on Urban Dictionary: Ron Paul

Ron Paul: Federal Reserve, Congress to Blame for Market Bubble

The Federal Reserve and Congress are “99 percent” responsible for the stock market swings this week because the Fed constantly creates “bubbles” to try to help the economy and Congress overregulates, former Texas Rep. Ron Paul tells Newsmax TV.

Federal Reserve board chairmen on numerous occasions have said it isn’t aware bubbles in the economy exist until they burst, but that isn’t true, Paul told “Hard Line” host Ed Berliner on Tuesday.

“You know it’s there because the Federal Reserve creates the bubbles, and many times on purpose,” Paul said. “They go from NASDAQ bubbles to housing bubbles to whatever they need to bail out the economy.”

Story continues below video.

Watch Newsmax TV on DirecTV Ch. 349, DISH Ch. 223 and Verizon FiOS Ch. 115. Get Newsmax TV on your cable system Click Here Now

“But no, we bail everybody out and it’s temporary, but eventually the Big One comes, and they can’t stop it,” Paul said.

Whatever in the economy isn’t being hurt by Fed policy is being hurt by Congress for overtaxing and overregulating, he added.

“Socialism fails always because you have wage and price controls, but we in the West have control of the economy and economic planning by pricing money,” he said. “So one-half of the economy, which is the money, is fixed so you have currency transactions and currency competition and then you have the supply of money and interest rates, and it’s a gross distortion because people have been fooled into thinking they’re saving.”

Paul said he remains “very concerned” about what he calls the “gross distortion” of the bond market that has been going on since the early 1980s.

“Were still at zero percent,” he told Berliner. “But eventually, the people will reject this and already you see some companies and debt like in Greece and some of our own municipalities turn sovereign debt, government debt, into junk and that eventually will happen.

“That will be the Big One, and then we will lose the status maybe at the same time as the reserve currency of the world,” he added. “That will play havoc not only with us and with China.”

But, rather, “it’s the manipulation of the reserve currency of the world, where we had tremendous benefits for dozens and dozens of years,” the former congressman said. “This is just a hint that there’s disequilibrium there and the market is demanding a correction.

“You get rid of the malinvestment and get rid of the debt.”

Related Stories:

2015 Newsmax. All rights reserved.

View original post here:
Ron Paul: Federal Reserve, Congress to Blame for Market Bubble

Posted in Ron Paul | Tagged , , , , , , , , , , , , , | Comments Off on Ron Paul: Federal Reserve, Congress to Blame for Market Bubble