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Ron Paul Warns That "Greece Is Just The Beginning!"

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    MEGYN KELLY: Joining me now
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    is someone who has thoughts about this and
    warned about it, and that’s Texas Congressman
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    Ron Paul.
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    Congressman, thanks so much for being back
    with us. You’ve had your eye on Greece for
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    a while now. This probably comes as no surprise
    to you.
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    RON PAUL: No, not at all. And I think this
    is just the opening of a much more serious
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    crisis than the financial crisis.
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    I think what we’re seeing is a shift from
    the financial crisis, the financial institutions,
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    to a currency crisis. Even though the dollar
    is up sharply today and has been up sharply
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    last week, I see this as an attack on the
    dollar.
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    Because in terms of gold, the dollar has been
    rampantly devalued and this means that gold
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    is acting as money.
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    They’re giving up on the paper currencies
    and I think this country and the world is
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    in for big trouble because this is a currency
    crisis and it’s much worse that having a
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    financial crisis.
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    MEGYN KELLY: You know they say that look,
    what’s happening in Greece is one thing,
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    but if this expands to Europe and they’re
    saying Portugal could be next,
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    the German chancellor says she’s very worried,
    and that the European [Union] has to bail
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    out Greece because she’s worried about it
    spreading to Europe, and there are other countries
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    that could follow, Spain and others.
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    If this becomes a European problem, it very
    much becomes an American problem as well,
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    does it not?
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    RON PAUL: There’s no doubt about it. It
    is a world problem and we’re going to be
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    the last one to fall because we have the dollar
    and people still think that the dollar will
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    save everybody.
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    The dollar is going to have to bail out California
    and so many other problems that we have here.
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    But that’s going to make the whole world
    vulnerable. It’s a debt explosion, it has
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    occurred for 40 years, we’ve known it has
    been building, we knew it couldn’t last,
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    and we knew it would end first with the financial
    bubble collapsing, and now we’re in the
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    midst of a currency crisis.
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    MEGYN KELLY: You know, it’s really scary
    to see what can happen in a society when the
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    overspending comes home to roost.
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    You know, when you see the consequences of
    years and years of overspending.
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    Obviously people here are very worried about
    our debt and our deficit.
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    Congressman Paul, could this kind of thing
    happen here? Could what we’re seeing in
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    Greece and in California happen on a nationwide
    basis here?
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    RON PAUL: Absolutely. There’s going to be
    anger and there’s going to be riots in the
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    streets as well.
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    But this is all a consequence of the fact
    that why and how the government spends like
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    this.
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    It’s because they don’t have sound money.
    When we run up deficits, we tax, but never
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    enough. We can’t tax, it would ruin the
    economy. Then we borrow, and we get away with
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    that for a long time.
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    But we rely on the printing presses from the
    Federal Reserve to create the money, and that’s
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    where the problem is.
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    This is why we have to look at the Federal
    Reserve, we have to get an audit of the Federal
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    Reserve, we have to look at the monetary system
    and the dollar system because you can’t
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    have fake money.
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    This is counterfeit. We’ve been operating
    like this since 1971.
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    No time in the history of the world has the
    whole world been on fiat money for so long
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    building up these financial bubbles, distorting
    the economies and running up all this debt,
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    and it has to be paid for. This is just the
    beginning.
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    MEGYN KELLY: Do you actually think that the
    Federal Reserve may be secretly bailing out
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    Greece anyway, because we can’t audit the
    Federal Reserve, so we don’t know what it’s
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    doing with this money.
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    You think they may be funneling money over
    there right now?
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    RON PAUL: Well, they’re capable of doing
    it, that’s why I demand an audit.
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    But we do know that the IMF has offered them
    a lot of money, and we’re like 25 percent
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    of the IMF, and that money has to come from
    us, it has to come from creating new money.
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    But what they do secretly we don’t know.
    But they’re capable of doing it.
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    And believe me, if push comes to shove, they’re
    going to use the dollar because people are
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    still trusting the dollar. We still have the
    big economy.
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    But that just delays the inevitable and it
    makes the downturn that much worse.
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    MEGYN KELLY: How much of this fall on the
    Dow do you attribute to Greece?
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    RON PAUL: Oh, I think a lot. But that’s
    just the tip of the iceberg. They’re the
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    ones who have been the first ones to fall,
    but then there’s going to be Portugal, there’s
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    going to be California, then it’s going
    to be United States government, and it’s
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    going to be all the governments. I mean, they
    talk about Germany being the powerhouse? You
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    think they have balanced budgets and they’re
    going to be able to bail out Europe? No! Everyone’s
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    in this together. So Greece is just the beginning
    because they were probably worse off and it
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    was precipitated.
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    But all the countries and so many of our states
    are that way and many of our corporations,
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    individuals, it’s still debt that has to
    be liquidated.
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    MEGYN KELLY: Alright. Well, Congressman Ron
    Paul, we always appreciate hearing your insights
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    on it. Thank you so much for being here.
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    RON 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.

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Duration:
05:18

English subtitles

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