 Casey Files:
An Interview with Ron Paul
Doug Casey
Chairman
Casey
Research
Dec 14, 2007
There are very few political figures for whom I have any respect.
One exception is Congressman Ron Paul (R-TX). Ron has been a
personal friend of mine for many years. I can assure you that
he's a "stand up guy," who has voted "no"
more times in Congress not just more than any other member, but
more than the rest of that august body combined. He's often called
"Dr. No."
The fact that he has managed
to get reelected numerous times -- in Texas, of all places --
in spite of his outspoken stands against the so-called "War
on Drugs," the "War on Terror" and other popular
stupidities is one of the few things that make me think all is
not absolutely lost in America.
How does he do it? Ron's an
almost archetypical country doctor; he simply radiates honesty
and sound principles. He's about the last person you'd expect
to see in Congress. The voters may not agree with everything
Ron believes in, but they know they can trust him to do what
he says he'll do: always vote for lower taxes, less regulation
and, in fact, against absolutely anything not specifically authorized
in the U.S. Constitution.
His campaign for the U.S. presidency
on the Republican ticket - once laughed at by mainstream apparatchiks
from both parties - has generated a huge groundswell of national
support. Recently, his campaign broke the record for the most
funds raised online in a single day. That, in itself, raised
a lot of eyebrows - and the money has since been put into high-profile
ad campaigns libertarian-minded candidates could previously only
dream of.
Ron is famous for his principled
rejection of fiat currency, and advocacy of hard money - the
gold standard. That's a matter of particular interest to us,
with obvious investment implications. We thought, therefore,
we'd get an update from Ron, to see if his thinking has changed
any.
The following interview is
from the December 2007 edition of the International
Speculator, our flagship publication dedicated to uncovering
highly prospective opportunities in pretty much any market sector,
but these days mostly in junior precious metals exploration stocks
- a sector that has treated subscribers very, very well in recent
years.
And they should only continue
to do well unless Boobus americanus stands up on his hind
legs and demands some radical changes, at which point we'd happily
sell the gold we own as a hedge against the fiscal calamity that
is now all but inevitable. Importantly, Ron Paul's campaign isn't
about the relatively trivial issue of who should govern, Tweedledee
or Tweedledum. It's about what the nature of the government should
be - and how much and how fast we can cut it down.
If you like what you read,
then check out Ron's web site and give serious consideration
to making a donation. You can learn more and donate by clicking
here:-
https://www.ronpaul2008.com/donate?c=GOLD05
-Doug Casey
CR: Why would the typical
American, who gets far more from government than he or she pays,
even consider voting for Ron Paul?
RP: Even those Americans who receive a higher nominal
amount in transfer payments than they pay in income taxes suffer
from Big Government. Their standard of living is eroded by inflation,
their wages are garnished by income and payroll taxes, their
civil liberties are under constant assault, and their economic
prospects are limited because of the drag the welfare-warfare
state places on the economy. Furthermore, unless we reverse course
quickly, future generations will suffer a declining standard
of living and loss of liberty. Thus, I expect many Americans
to vote for me not only out of concern for their own well-being,
but out of concern for their children.
CR: What is your outlook
for the U.S. dollar, absent any significant change in the current
course of things?
RP: Unless we return to a sensible monetary policy
and rein in government spending, I expect the value of the dollar
to continue to fall.
CR: Do you think we could
see currency or capital controls being implemented?
RP: History shows that governments tend to react
to economic crises by increasing government control over the
free market, so, yes, it is quite possible that the U.S. Government
will respond to a future economic downturn with currency and
capital controls.
CR: We have seen the other
presidential candidates perform all sorts of linguistic gymnastics
when asked how they would handle the looming fiscal problems
of Social Security and Medicare. While the solutions will obviously
not be quick or easy, where would you start?
RP: I would transfer some of the money saved by
my cuts in foreign programs and unconstitutional domestic bureaucracies
into the entitlements programs to keep the promises to those
relying on the system. I would then work to transition to a market
system, phasing in an option for younger workers to opt out of
Social Security and Medicare taxes in return for agreeing to
provide for their own retirement and health care needs without
participating in a government entitlement program.
CR: Further on domestic
issues, just what do you think the role of the federal government
should be?
RP: Ideally, it should be limited to providing protection
from foreign threats, securing the borders and ensuring free
trade among the states.
CR: By what % would you
estimate that federal government spending could be cut without
causing any great hardship? Which agencies would you cut first?
RP: I don't have an exact percentage, but I am confident
that if the welfare state were cut, along with a corresponding
reduction in taxes, private charities would quickly step up to
help the truly needy - and do so in a much more effective and
compassionate way than government bureaucracies. I would cut
the Iraq war, foreign aid and all foreign commitments immediately.
Domestically, I would work to shut down the Departments of Education,
Energy, and Commerce. I would also work to eliminate all forms
of corporate welfare and business subsidies.
CR: Any idea how much of
the total federal debt could be paid off if the government sold
all the land, buildings, equipment and other assets it doesn't
need for activities authorized by the Constitution?
RP: I do not have an estimate on that, but it is
definitely something I would pursue.
CR: There is much talk about
the Chinese deliberately keeping their currency cheap in order
to undercut U.S. and European manufacturers. And we are increasingly
hearing discussions about layering on more tariffs aimed at the
Chinese. We assume you are anti-tariff, so do you do anything
at all about "unfair" competition or just let the global
marketplace sort things out over time?
RP: The United States does not have the authority
to tell China, or any other country, what to do with their currencies.
The values of currencies should be set by the market. Instead
of worrying about the speck in China's eye, I would focus on
the beam in our eye by reducing the national debt, restoring
a market in currency by repealing the legal tender laws and ending
the continued debasement of the American currency.
CR: Much of the politicking
this campaign season has certain religious overtones. Are you
a believer in a strict separation of church and state?
RP: Yes. However, I believe state and local communities
have the right to adopt policies such as school prayer without
interference from the Federal Judiciary or any other branch of
the federal government.
Additional Resources:
1) Doug Casey and Ron Paul
recently join forces to debate Larry Abraham and Dinesh D'Souza.
You can view the debate by following this link:-
http://www.youtube.com/watch?v=CC-ZxzYneOQ
2) For more on Doug Casey's International Speculator and
a special
30 day risk-free trial,
click
here.
3) And don't forget, to learn
more on Ron Paul's campaign and to make a donation to his campaign,
visit https://www.ronpaul2008.com/donate?c=GOLD05
###
Doug Casey
Casey Archives
321gold Ltd
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