Ron Paul Warns That "Greece Is Just The Beginning!"
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0:07 - 0:14MEGYN KELLY: Joining me now
-
0:50 - 0:57is someone who has thoughts about this and
warned about it, and that’s Texas Congressman -
0:57 - 0:57Ron Paul.
-
0:57 - 1:00Congressman, thanks so much for being back
with us. You’ve had your eye on Greece for -
1:00 - 1:04a while now. This probably comes as no surprise
to you. -
1:04 - 1:09RON PAUL: No, not at all. And I think this
is just the opening of a much more serious -
1:09 - 1:11crisis than the financial crisis.
-
1:11 - 1:16I think what we’re seeing is a shift from
the financial crisis, the financial institutions, -
1:16 - 1:21to a currency crisis. Even though the dollar
is up sharply today and has been up sharply -
1:21 - 1:24last week, I see this as an attack on the
dollar. -
1:24 - 1:30Because in terms of gold, the dollar has been
rampantly devalued and this means that gold -
1:30 - 1:31is acting as money.
-
1:31 - 1:36They’re giving up on the paper currencies
and I think this country and the world is -
1:36 - 1:40in for big trouble because this is a currency
crisis and it’s much worse that having a -
1:40 - 1:41financial crisis.
-
1:41 - 1:45MEGYN KELLY: You know they say that look,
what’s happening in Greece is one thing, -
1:45 - 1:49but if this expands to Europe and they’re
saying Portugal could be next, -
1:49 - 1:53the German chancellor says she’s very worried,
and that the European [Union] has to bail -
1:53 - 1:56out Greece because she’s worried about it
spreading to Europe, and there are other countries -
1:56 - 1:59that could follow, Spain and others.
-
1:59 - 2:03If this becomes a European problem, it very
much becomes an American problem as well, -
2:03 - 2:04does it not?
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2:04 - 2:10RON PAUL: There’s no doubt about it. It
is a world problem and we’re going to be -
2:10 - 2:14the last one to fall because we have the dollar
and people still think that the dollar will -
2:14 - 2:17save everybody.
-
2:17 - 2:21The dollar is going to have to bail out California
and so many other problems that we have here. -
2:21 - 2:27But that’s going to make the whole world
vulnerable. It’s a debt explosion, it has -
2:27 - 2:32occurred for 40 years, we’ve known it has
been building, we knew it couldn’t last, -
2:32 - 2:36and we knew it would end first with the financial
bubble collapsing, and now we’re in the -
2:36 - 2:38midst of a currency crisis.
-
2:38 - 2:41MEGYN KELLY: You know, it’s really scary
to see what can happen in a society when the -
2:41 - 2:44overspending comes home to roost.
-
2:44 - 2:47You know, when you see the consequences of
years and years of overspending. -
2:47 - 2:51Obviously people here are very worried about
our debt and our deficit. -
2:51 - 2:55Congressman Paul, could this kind of thing
happen here? Could what we’re seeing in -
2:55 - 2:58Greece and in California happen on a nationwide
basis here? -
2:58 - 3:02RON PAUL: Absolutely. There’s going to be
anger and there’s going to be riots in the -
3:02 - 3:03streets as well.
-
3:03 - 3:07But this is all a consequence of the fact
that why and how the government spends like -
3:07 - 3:07this.
-
3:07 - 3:12It’s because they don’t have sound money.
When we run up deficits, we tax, but never -
3:12 - 3:16enough. We can’t tax, it would ruin the
economy. Then we borrow, and we get away with -
3:16 - 3:17that for a long time.
-
3:17 - 3:22But we rely on the printing presses from the
Federal Reserve to create the money, and that’s -
3:22 - 3:23where the problem is.
-
3:23 - 3:30This is why we have to look at the Federal
Reserve, we have to get an audit of the Federal -
3:30 - 3:34Reserve, we have to look at the monetary system
and the dollar system because you can’t -
3:34 - 3:35have fake money.
-
3:35 - 3:39This is counterfeit. We’ve been operating
like this since 1971. -
3:39 - 3:45No time in the history of the world has the
whole world been on fiat money for so long -
3:45 - 3:49building up these financial bubbles, distorting
the economies and running up all this debt, -
3:49 - 3:52and it has to be paid for. This is just the
beginning. -
3:52 - 3:57MEGYN KELLY: Do you actually think that the
Federal Reserve may be secretly bailing out -
3:57 - 4:01Greece anyway, because we can’t audit the
Federal Reserve, so we don’t know what it’s -
4:01 - 4:02doing with this money.
-
4:02 - 4:04You think they may be funneling money over
there right now? -
4:04 - 4:08RON PAUL: Well, they’re capable of doing
it, that’s why I demand an audit. -
4:08 - 4:12But we do know that the IMF has offered them
a lot of money, and we’re like 25 percent -
4:12 - 4:17of the IMF, and that money has to come from
us, it has to come from creating new money. -
4:17 - 4:21But what they do secretly we don’t know.
But they’re capable of doing it. -
4:21 - 4:25And believe me, if push comes to shove, they’re
going to use the dollar because people are -
4:25 - 4:28still trusting the dollar. We still have the
big economy. -
4:28 - 4:32But that just delays the inevitable and it
makes the downturn that much worse. -
4:32 - 4:34MEGYN KELLY: How much of this fall on the
Dow do you attribute to Greece? -
4:34 - 4:40RON PAUL: Oh, I think a lot. But that’s
just the tip of the iceberg. They’re the -
4:40 - 4:43ones who have been the first ones to fall,
but then there’s going to be Portugal, there’s -
4:43 - 4:46going to be California, then it’s going
to be United States government, and it’s -
4:46 - 4:52going to be all the governments. I mean, they
talk about Germany being the powerhouse? You -
4:52 - 4:56think they have balanced budgets and they’re
going to be able to bail out Europe? No! Everyone’s -
4:56 - 5:02in this together. So Greece is just the beginning
because they were probably worse off and it -
5:02 - 5:03was precipitated.
-
5:03 - 5:07But all the countries and so many of our states
are that way and many of our corporations, -
5:07 - 5:11individuals, it’s still debt that has to
be liquidated. -
5:11 - 5:13MEGYN KELLY: Alright. Well, Congressman Ron
Paul, we always appreciate hearing your insights -
5:13 - 5:15on it. Thank you so much for being here.
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5:15 - 5:18RON PAUL: Thank you.
- Title:
- Ron Paul Warns That "Greece Is Just The Beginning!"
- Description:
-
Ron Paul warns that what is happening in Greece is just the beginning, and that he believes "what were seeing is a shift from the financial crisis, the financial institutions, to a currency crisis". He also goes on to warn that the rioting happening in Greece will almost certainly happen within the streets of the United States when the people have had enough.
I liked an analogy made by a commentator on another site that the Fed, Congress, Wall Street, and the White House being afraid of a full audit of the Federal Reserve is akin to a jobless person with a mortgage to pay being afraid to open his mailbox, which is overflooding with bills. We must audit the Fed and face up to the realities of what is actually out there. This charade simply cannot continue.
America has to take its' medicine. The pain will be bad for one or two years, but then it will all be over with, and the American people can move on again and spare the next generation the agony and all out chaos that will certainly ensue if we do not begin an immediate transition to a non-interventionist foreign and domestic policy, and empower the people of the United States to begin working towards the idea that they can work together to solve this country's problems without being split into various camps by the coprorate owned mainsteam media.
- Duration:
- 05:18
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Amara Bot edited English subtitles for Ron Paul Warns That "Greece Is Just The Beginning!" | |
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Amara Bot edited English subtitles for Ron Paul Warns That "Greece Is Just The Beginning!" |