Tuesday, Sep 07, 2010
They have direct taxation, but they have the invisible taxation of inflation. Some people say the poor people never pay taxes... but they are really the ones that suffer the most from the inflation tax. We run up the spending, we borrow a bunch, we still don't have enough, the Fed prints some money, devalues the currency. They're the ones who, because there's a financial bubble out there, we say, "We can give you a free house. Everything is free. You have a right to this, and a right to that." Guess what? It's all artificial. It's all based on debt. It's all a fallacy. And when the bubble bursts, who gets hurt? It's the poor people that they pretended they wanted to help. It doesn't help at all. But who gets bailed out? Republican or Democratic administration. The rich get bailed out. The military industrial complex. The bankers get bailed out.
It's very important that we as a country, as a people, make the decision on why did we have the financial collapse? Why does it come about? And if we don't pin a major part of the blame on the Federal Reserve, we're going to fail. In the depression, they said it was the gold standard and too much free enterprise that caused our depression. Today, they're saying the same thing: too much free enterprise, that Capitalism, and all that other stuff. It was too much crony capitalism is what we had.
Ron Paul in San Francisco, September 4, 2010, 15:40, http://www.youtube.com/watch?v=FobnAnrFG3c.