“It’s time to END THE FED right now!” Ron Paul pushes Trump to make Amer...

.Congressman Ron Paul sits down with Clayton Morris to talk about the decline of the U.S. Dollar

With Transcript

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well should the United States end the

0:01

Federal Reserve once and for all yes the

0:04

FED it's what Congressman Dr Ron Paul

0:07

has been calling for uh he says it's the

0:09

source of all of our problems in the

0:11

United States well vice presidential

0:13

candidate JD Vance was asked this very

0:15

question the other day last week and he

0:17

said he's not really a Ron Paul guy but

0:20

he is now coming around to this idea of

0:22

ending the FED watch I've kind of come

0:25

around to the Ron Paul argument I don't

0:27

fully agree with it but the criticism of

0:29

the federal Reserve that makes the most

0:31

sense to me is that it gives massive

0:34

corporations a lower cost of money than

0:37

the average American well then Dr Paul

0:40

tweeted this message saying hey we'd

0:42

love to talk about it let's actually

0:43

have a conversation JD so did that

0:46

conversation happen will we actually End

0:48

the Fed Can America recover from this

0:51

nearly $36 trillion in debt right now

0:55

let's ask former presidential candidate

0:57

and Congressman Dr Ron Paul and one of

0:59

my personal Heroes by the way Dr Paul

1:01

welcome back to the show great to see

1:03

you thank you Clayton good to be with

1:05

you so you've first of all I just got to

1:08

ask did you speak with JD Vance has he

1:10

had a conversation a phone call or

1:11

anything with you about this idea of

1:13

ending the FED has he taken that up with

1:15

you or uh is he a little too busy right

1:17

now running for pres running for vice

1:19

president actually not but uh it's still

1:24

the the little connection that we had uh

1:26

was very valuable because uh I guess

1:29

there were a lot of people out there I

1:30

was fascinated with the idea I I was

1:33

surprised that that many people looked

1:35

at the so-called conversation we had but

1:38

no he did not respond uh di directly uh

1:42

to me but we we sent an acknowledgement

1:45

that uh we appreciated you know what's

1:48

happening and we want to follow up

1:50

because uh you know I think this is

1:53

where I see openings when I see people

1:55

say well no I especially when they say

1:59

you know I was n into this I didn't care

2:01

that much but all of a sudden you know

2:03

that's a real encouraging thing that's

2:06

not to expect that he will be with us on

2:09

on this issue very quickly and the

2:12

political position one holds you know uh

2:15

depends on exactly how you phrase it and

2:18

uh I think that uh uh you know was very

2:21

very beneficial and it exposed uh uh

2:25

this discussion to a lot of people and I

2:28

was surprised how people paid attention

2:31

and those who said yes Ron should talk

2:34

to them you know so right that's the way

2:36

get started but but one week before a

2:38

major election uh maybe they don't want

2:40

to take any risk but but I I thought I

2:44

thought it was pretty neat and uh I I

2:46

was actually surprised that there there

2:49

was that much attention to it because

2:51

I'm I've been used to over the years to

2:53

take it as it comes along and always

2:56

figuring there will be new people coming

2:59

in and uh there was a time before I was

3:02

in Congress or before I even ran for

3:04

congress I I would speak out on the

3:06

money issue and go to college campus and

3:08

I used to think 15 or 20 people that's

3:11

pretty good you know but but but the

3:13

impression thing is later on many of

3:15

them worked for me and it it wasn't as

3:19

foolish as it seemed at the time uh you

3:21

plant seeds the way I look at it well in

3:25

our live stream we do the show live

3:27

every day and I'll I'll see thousands of

3:29

comments from people saying End the Fed

3:32

End the Fed so your message your message

3:34

is getting out there for our audience

3:36

that maybe doesn't understand what the

3:37

Federal Reserve does um can you talk

3:40

about what the Federal Reserve is and

3:42

how you've repeatedly said that the FED

3:44

makes us poor while funding these

3:47

endless us Wars whether it's in

3:49

Afghanistan whether it's in Iraq whether

3:51

it's in Ukraine whether it's in Israel

3:54

right now so what exactly is the fed and

3:56

how is it keeping us in this Perpetual

3:58

state of poverty

4:00

well technically called a central bank

4:03

the bank is owned by the government or

4:05

run by the government and the argument

4:08

about the the central banks and this

4:11

kind of power you give to a few people

4:13

has been going on since the Inception of

4:16

the country because Hamilton and

4:17

Jefferson argued over this Jefferson

4:19

said no way we shouldn't do this and

4:21

Hamilton started the first bank that

4:24

didn't last it was finally finished they

4:26

tried a second bank and Jackson got rid

4:28

of that but they have all this power and

4:31

even those early one the very the first

4:33

bank that was started uh by Hamilton you

4:37

know was uh you know like the FED

4:40

because they were they were allowed of

4:42

hold money H government money but they

4:45

were allowed of print money too you know

4:47

they Fiat money immediately and it

4:50

didn't work out quite the way they claim

4:53

and so the the fuss has been going on a

4:55

long time and uh it's a secret body of

4:59

people that meet that even when I was in

5:01

Congress and a ranking member on the

5:03

Banking Committee I was never permitted

5:05

to go and know the uh I know what

5:08

exactly they talk about or how they

5:10

establish monetary policy but it's a

5:13

gimick it's it's a

5:15

gimmick it's a gimmick that is designed

5:19

to help their special

5:21

friends it's amazing you're on the

5:23

Banking Committee you're not allowed to

5:24

know what they're talking about so

5:27

they're unelected they're unelected and

5:30

they drive all of the monetary policy

5:32

for the United States it's it's

5:35

sickening and of course we look now at

5:36

the national debt of the United States

5:39

we you know $36 trillion is there a way

5:43

that we can recover from this at this at

5:45

this point is there a way that we could

5:48

uh I mean go cold turkey somehow return

5:51

to a gold standard I mean are we able to

5:53

come back from

5:54

this well you know this problem has been

5:58

around for longer even the history of

6:00

our country because all the way back to

6:02

Roman times but uh it always ends it

6:05

ends

6:07

badly because a lot of people will be

6:09

cheated and they'll go bankrupt but uh

6:13

to do it gracefully like getting more

6:16

members of Congress to vote in in and

6:20

gradually just uh shrink the FED no way

6:23

it's not going to happen uh but why he

6:27

say well why' you waste all that time

6:29

you know talking about because it'll end

6:31

it's going to end itself and the big

6:33

question is what are you going to

6:34

replace it with Co the marxists like it

6:37

because they want chaos they want

6:38

excessive spending they want chaos in

6:40

the streets they want these wars to

6:42

agitate us and then they will come in

6:44

with their Marxism that they really want

6:46

to uh promote so that that is a very

6:50

very strong scheme that we have to

6:52

overcome and that effort has been going

6:55

on for a long time so I would say that

6:59

uh to eliminate it uh gradually is not H

7:02

going to happen when it ends though

7:05

that's why we have to have a replacement

7:07

for it and uh there's a lot of good

7:09

history about it our early history they

7:12

tried it with the Continental dollar

7:13

they tried it with the the National

7:15

Banks early on and they tried it with

7:18

the Federal Reserve but right now I

7:20

would say in the last well now it's more

7:25

like 30 40 years there's been a Revival

7:28

of an interest in it this I I began to

7:32

get involved in wanting to speak out

7:34

more was in

7:35

1971 when it was the determined that uh

7:39

you know that uh the brenon woods

7:42

agreement where we would back the

7:44

currency at $35 an ounce for foreigners

7:47

we weren't even allowed to own the gold

7:50

and uh we limped along but in 1971 we

7:53

wouldn't even honor our commitment to

7:56

foreigners so it was a declaration of uh

7:59

of bankruptcy and since that time the

8:01

problems have developed right now where

8:04

you know when the FED took over gold was

8:06

$20 an ounce and that means that the

8:09

ratio uh It Isn't So Much the price of

8:12

gold that moves it's the devaluation of

8:14

the currency so in the the ratio was $20

8:17

to an ounce then $35 an ounce and then

8:21

it was in limbo for a long time and then

8:24

it finally got legalized in the 70s and

8:26

it's 1975 we were once again given the

8:30

given the freedom to own gold again

8:32

which means that they open up like uh

8:35

like a big ball opening up and it went

8:38

from $35 an ounce all the way at back

8:41

then it went to $800 which was a huge

8:43

jump but now it's at

8:46

$2,700 and it's going to go a lot higher

8:49

because we live in these dangerous times

8:52

uh I think a couple things have to be

8:54

looked at one is you have to have a uh a

8:57

unit of account you know a

9:00

dollar had been in our early years in

9:03

spite of the shortcomings and the bad

9:05

moves that they were doing it there was

9:07

a certain uh weight of silver and a

9:10

weight of gold and that kept a check on

9:13

on the size and scope of government but

9:16

after World War II we gained the status

9:19

and it was not done by just accident we

9:22

gained the status of owning and and

9:25

operating the uh uh you know Reserve

9:28

currency of the world which means the

9:30

world was starting to accept our dollar

9:33

and we took advantage of that we became

9:35

very powerful the finances uh our

9:38

military industrial complex and now the

9:41

medical industrial complex and on and on

9:44

so the bubble is huge but the system is

9:46

going to collapse it's a there's signs

9:49

now that the Alternatives the people who

9:51

are planning trying to plan and take

9:53

over the Dollar's position as a reserve

9:55

currency they're getting more active and

9:58

that will happen but probably not next

10:01

week or next month but this system is is

10:03

going to end but we need a definition of

10:06

the unit of account is the is the

10:09

biggest thing and then we have to deal

10:11

with the Federal Reserve because uh that

10:14

is that's a taxing agency it's a it's a

10:18

what what they do is they counterfeit

10:20

the money and uh they serve the special

10:23

interest and so you have the welfare

10:25

Warfare State and that encourages the

10:27

growth of government and that's what's

10:30

that is what the big issue is but you

10:32

the thing that bothers me Clayton is you

10:34

know we have this great debate going on

10:37

about uh about the people in in the

10:42

election who who's the uh who who's the

10:46

ugly who has the ugliest uh supporters

10:49

so they go on do this and they don't

10:51

talk about the issues we're talking

10:53

about right now because that's the issue

10:55

why do is this government so big and why

10:57

do we have less Liberty that we do

10:59

anything about it the answer is is we

11:02

know exactly how it's caused we know

11:04

exactly what has to be done but the

11:06

people have to understand it and be

11:09

willing to do the things that you need

11:11

to have sound money and get the

11:14

government out of our lives and out of

11:16

our wallet and out of other

11:18

countries now you bring up a great point

11:21

and I think the candidates mostly

11:22

haven't touched on this

11:24

issue certainly on the Democratic side

11:27

on the Communist side the Marxist side

11:29

side really they love the expansion of

11:31

government as big as we can possibly

11:32

make the size of this government uh on

11:35

the Trump side you certainly have had

11:37

Elon Musk recently and of course Donald

11:39

Trump saying he was going to appoint him

11:41

as some sort of like slashing of the

11:42

budget Zar inside the government

11:44

slashing perhaps $2 trillion doar out of

11:47

the government but on the other hand

11:49

you've had Trump praising the fact that

11:51

he's expanded the size and scope of the

11:52

US Military and you talk about the

11:54

military industrial complex so it's made

11:56

all of those people very very happy all

11:58

of the all of the bomb makers and all of

12:00

the war mongers in Congress and in

12:03

Washington who love the expansion of the

12:06

military so do you think

12:08

that definitely not kamla Harris going

12:11

to shrink the size of government but do

12:13

you think that Trump maybe having Elon

12:15

Musk in there is going to actually

12:16

shrink the size of government and cut

12:18

the

12:19

budget probably not I think the effort

12:22

is sincere I think musk is sincere but

12:26

uh an individual can't do it you know

12:30

the the deficit is too big the debt is

12:33

too big and all the mistakes the M

12:35

investment are are are are too great so

12:39

they uh they will

12:41

self-destruct and so you have to

12:43

eliminate that to get growth to work

12:45

again and uh you can do this either way

12:48

you can declare bankruptcy quit spending

12:51

and get rid of the fed and all that but

12:54

the people wouldn't tolerate it I mean

12:56

can you imagine if you say uh if you

12:58

know Rand my son ran he tried to you

13:01

know cut a penny out of the budget out

13:03

of everything in the budget and a nickel

13:06

a dime and they won't accept anything

13:09

and uh so because they if if H if they

13:13

if there's a budget presentation for a

13:16

dollar you know a dollar on something

13:19

they say well we want to cut one penny

13:20

out of it that they won't do that

13:22

because by that time the the

13:25

inflationary process says it's not a

13:27

dollar anymore it's a dollar t so you

13:30

can't cut anything from from Dollar 10

13:33

you have to deal with the monetary

13:35

policy because that is the tax and the

13:37

tax is uh most people don't realize it

13:40

and the Democrats get away with it and

13:43

the Republicans who want the wars that

13:46

uh it's deceitful it's an evil tax it's

13:49

put on the average person the wealthy

13:51

are not hit especially in the early

13:53

parts of the destruction of a currency

13:56

and they get away with it because they

13:57

can get the money first and they can

14:00

become very wealthy over it but uh

14:03

eventually though uh the people get

14:06

higher prices and one thing they don't

14:08

realize is uh I've heard it so many

14:12

times and this tells you that the

14:14

educational system this country is in

14:15

bad shape they'll come up and say well

14:18

we have a problem we know you're sincere

14:20

and you're trying to help but uh you

14:23

know I'm going to the grocery store I

14:25

don't have any enough money to buy my

14:27

groceries which is true and they're

14:29

suffering the consequence because they

14:31

were taxed you said well no they we

14:33

don't want T put more taxes on the poor

14:35

people the middle class what we do but

14:39

what what we do take away the value of

14:41

the currency so if you uh and and they

14:44

lie through their teeth about how much

14:47

the dollar is devalued and that's the

14:49

inflation so if prices going up 10 10

14:52

10% or more that means there has been an

14:56

extraction of purchasing power so

14:59

they're they and but the people who come

15:01

to the Congress say we need more money

15:04

and they and and they say well we better

15:06

do that everybody has to have education

15:08

everybody has to have medical care and

15:10

we have to save the world we have to

15:12

take care of the poor ukrainians and the

15:15

and the and the people in the Middle

15:17

East and everything else but that means

15:20

it's inevitable there's going to be a

15:23

major major reassessment of all this and

15:26

that's why the effort that I spent on is

15:29

recognizing this and when I did the

15:31

presidential races I was so impressed

15:34

with so many young people on college

15:36

campuses that were open to the this

15:40

libertarian message and even when I

15:42

would our I said you know uh in this

15:46

system you there wouldn't be an income

15:48

tax there wouldn't be an inflation and

15:51

uh and but the one thing that you have

15:54

to realize is you can keep what you earn

15:58

and and uh and and uh and they I thought

16:03

I thought uh the thing that they would

16:05

be hang hung up on would I said but then

16:09

you have all this Freedom it's very good

16:11

and very prosperous but if your freedom

16:15

if you take your freedom and you

16:17

squander it or you make a mistake or

16:19

there's some problem you can't go to the

16:22

government and uh and they they cheered

16:25

on that as much as the message they they

16:28

the people wanted to hear the message

16:30

but they wanted to at least hear it and

16:32

they were willing to accept it because

16:34

right now you know that would be a

16:36

wonderful choice to have that all I have

16:39

to do because quite frankly the answer

16:41

to who who's going to take the people in

16:44

need well did did the government take

16:47

care of all the people who just suffered

16:49

from the hurricane no a lot of private

16:51

Services went in there and not did a

16:53

whole lot of things so no it it it would

16:55

be taken care of the country would be

16:57

wealthier you know employment would be

17:00

better you you wouldn't have the

17:02

inflationary tax so I I don't I don't

17:06

think there's any downside to arguing

17:08

the case for

17:09

Liberty right more wealth in the country

17:12

more people Neighbors being able to help

17:14

neighbors the growth of the economy and

17:16

removing this debt burden you've heard

17:18

president Trump talk about uh he's at

17:21

least floated the idea of eliminating

17:23

the federal income tax uh which sort of

17:26

sent a shock wave through the internet I

17:28

don't know he's going to stick to that

17:30

or not but when he sent that kind of

17:31

shock wave it was I know you've been

17:33

advocate advocating for that do you

17:36

think that there's any hope that

17:37

President Trump would actually do that

17:39

eliminate the income

17:41

tax uh he might try but that's not going

17:45

to

17:46

happen they W because if they didn't

17:49

have the income tax uh you know they uh

17:54

it would be just so

17:56

disruptive but I say but I would would

17:59

do it but it's they're not going to do

18:01

it because too many people would be hurt

18:03

especially especially the special

18:05

interest the military industrial

18:06

conflict what what would you do if you

18:08

didn't have income tax for the

18:10

government to pass all out all these

18:12

favors so it's it's it's not go it's not

18:15

going to happen and uh it should have

18:17

never been put in place and uh I think

18:21

the I think the income tax as well as uh

18:25

the uh conscription for military is an

18:28

indication that is uh you know a slavery

18:32

type issue it's involuntary servitude

18:35

because when you have if you accept this

18:38

income tax even a little bit even a

18:40

dollar that means the government owns

18:43

your income that owns your you know your

18:47

efforts and uh and then the government

18:50

tells you what you can keep and it it is

18:53

too big and uh just the hint of that

18:57

would drive people crazy

18:59

because what would the because the the

19:01

the real decisions made in Washington

19:04

come from you know a band of people who

19:07

have Financial control just think of H

19:10

who was it behind getting Biden to drop

19:13

out of the race it was the special

19:16

interest that picked out some powerful

19:20

Democratic incumbents to go there and

19:23

tell him he had to leave so there's a

19:25

lot and those were the moneyed interests

19:27

there would be bankers

19:29

military people and the whole work so uh

19:32

no I think we should talk about it I

19:35

think I like to talk about it mainly to

19:37

make it a moral issue and show show that

19:39

is a it is a tax and the poor people

19:43

suffer the most so they care about

19:45

social discourse and the problems that

19:48

we have now they have to get rid of this

19:51

uh income tax but you have to get rid of

19:54

the incentive for big government and

19:56

that's where the problem is right the

19:59

massive military-industrial complex the

20:01

biopharmaceutical complex all of them

20:04

that rely on this federal income tax as

20:06

these favors the sort of money

20:07

laundering scheme but I I agree with you

20:09

I think it is a form of modern day

20:11

slavery uh we don't talk about it in

20:12

those moral terms I think if more people

20:14

understood that um and the same people

20:16

that support the expansion of government

20:18

that have been lied to for so many years

20:20

we could really make some Headway you

20:22

know Dr Paul I'll get you out of here on

20:24

this which is you mentioned kind of

20:25

multiple times as we've been talking

20:29

that there's really no coming back from

20:31

this 35 36 trillion debt that it's going

20:35

to collapse is that your position that

20:37

we see the rise of bricks we see these

20:40

company these countries now abandoning

20:42

the US dollar we're really seeing the

20:44

collapse of the Britain Woods agreements

20:47

um from many many years ago and really

20:52

this sort of repositioning of the the

20:55

the international order right now this

20:56

new world order where these compan these

20:58

countries These Bricks currency

21:00

countries are saying we're done being

21:02

sort of bullied by the IMF the World

21:05

Bank the US dollar as the reserve

21:06

currency we're going to go our own way

21:09

do you think it's inevitable that the US

21:11

dollar collapses and is no longer the

21:14

world's Reserve

21:15

currency to one degree but I don't know

21:18

if that would eliminate the concept of a

21:21

dollar there uh the British went broke

21:23

and uh they lost the reserve status but

21:26

there's still a pound you know floating

21:28

around

21:29

getting into Mischief so uh it wouldn't

21:32

do it but the Dollar's uh position in

21:35

the world today as the king pin and the

21:40

uh the

21:42

central you know the the the monetary

21:47

the money of the world you know this

21:49

that that will end but the $35 trillion

21:52

dollar

21:54

uh we have to deal with it but it will

21:57

be liquidated so we don't have to worry

21:59

about we're in the process of

22:01

liquidating it right now because the

22:03

dollar is always worth less and less but

22:05

think of a if if the government owns $

22:08

35 trillion dollar and you reduce the

22:11

value of the currency by 20% the debt

22:14

goes down by 20% you know because the

22:17

dollars you pay it back with and that's

22:19

why some people like to borrow money

22:21

long term and then pay back the

22:23

mortgages you know with cheaper money so

22:27

the the liquidation is going on uh right

22:30

now and the government benefits from

22:32

this because real debt actually goes

22:35

down but uh one way or the other it'll

22:38

be liquidated I'm just

22:41

arguing that it won't be liquidated by

22:44

taxing people and taking more money from

22:47

them and start paying it off that that's

22:49

not going to happen but uh that's why

22:52

what is important is what are you going

22:54

to do about it how are you going to

22:56

compete are you going to have a sound

22:58

money and the encouraging thing is uh I

23:01

don't think our our country is cons

23:03

given any serious consideration to it

23:06

but uh a lot of other countries these

23:08

bricks and other people are talking

23:10

about using gold not the gold standard

23:13

that I might design but at least they're

23:15

introducing that idea but you know

23:18

they're going to have to uh check with

23:20

bernacki because you know when I ask him

23:22

I says it's gold money he says it's not

23:26

money so uh but I I said what are you

23:30

going to do reverse history 6,000 years

23:32

of History it's been money so no it it

23:36

uh the market Will the Market will take

23:38

care of it the market is demanding it

23:40

already there is a liquidation going on

23:43

but it's a terrible price to pay and the

23:46

worst part is the uh is the conflict

23:50

between uh you know economic uh groups

23:54

the rich and the poor versus the poor

23:57

and right now the the propaganda is

23:59

controlled by the rich and therefore

24:02

they stir up trouble so that the poor

24:04

just demands more and more of the of the

24:07

system that uh that caused all of

24:09

trouble like I said they don't have

24:11

enough money give me more money so I can

24:13

pay my bills and that just that's that's

24:18

putting gasoline on the

24:19

fire I know I said I get you out of here

24:21

a second ago I just got to ask you about

24:23

the election here before we go what do

24:25

you think we are going to see over the

24:26

next few months you know election day

24:28

just a few days away and then all the

24:32

months before we have an inauguration

24:34

what is your sense about around being

24:37

around Washington DC of course your son

24:39

in the Senate Rand Paul what do you what

24:41

do you see is going to happen over the

24:43

next few

24:44

months well it's hard to say and I don't

24:46

go out on a limb on talking about this

24:49

but but uh the environment is is uh very

24:53

Rocky because uh it depends on what the

24:55

result of the election is uh I I think

24:59

the polls that show that Trump is going

25:01

to win uh I believe in them but what

25:04

what if the rigging is even more than

25:07

Las go around uh I mean there could be

25:10

there could be a lot of political

25:13

discourse with that and uh I would I

25:16

wouldn't be surprised about that but I'm

25:18

not predicting that at the end of the

25:19

month the the streets will be all in

25:21

riots but uh they they uh they have been

25:25

pretty Rocky here the last couple years

25:27

anyway and we've had this episode of The

25:31

covid Crisis and that sort of thing so I

25:34

wouldn't be surprised if you have this

25:35

because if if Trump wins like most

25:38

people think you know the opposition is

25:40

still in charge of a lot of things and

25:43

they are going to do something whatever

25:45

they can uh to make uh the incoming

25:48

president as miserable as they possibly

25:51

can and there may be some uh I would be

25:55

surprised about you know some dist

25:58

actions you know some real crisis more

26:02

uh uh more uh epidemics more Wars maybe

26:06

the maybe the uh the war that is

26:10

expanding always trying to expand you

26:12

know in Ukraine now the Koreans are in

26:14

Russia what are we going to do about it

26:16

so there's all this room for just

26:19

expanding the crisis and the people

26:20

would say well this isn't the time to

26:23

cut to spending this is the time for us

26:25

to tighten our belt and get ready for

26:28

the big war and that's what obviously

26:31

we're trying to prevent such a smart

26:34

Point yes those people even if Trump

26:36

wins are still in charge and they made

26:38

life miserable for him after he won the

26:40

last time and the outgoing Obama

26:42

administration basically sabotaged I

26:44

mean even talking talking about offices

26:47

and computers and everything in the

26:48

executive branch it was it was an

26:50

absolute disaster it's probably going to

26:52

be much worse this time Dr Paul great to

26:56

see you as always um and I encourage

26:58

people to check out all of your work um

27:01

it's and by the way read your book

27:03

everyone should read your book on ending

27:05

the FED um just such an important

27:08

discussion to be having right now as we

27:10

Barrel towards the disaster of the US

27:12

dollar decline right now Dr Paul great

27:14

to see you as always thanks so much

27:16

thank you nice to be with you you know

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