Ron Paul Rips Fed, US Libyan Intervention

Sunday, 28 Aug 2011 12:31 PM

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
Rep. Ron Paul stayed true to his criticisms of the Federal Reserve and military intervention in Libya on “Fox News Sunday.” He warned that these government initiatives will backfire, reports Politico.

The Texas Republican and presidential candidate insisted that the Federal Reserve’s decision to keep interest rates low is a major policy blunder.

Fed Chairman Ben Bernanke has said that the low interest rates will be in place through 2013, which Paul said amounts to a mere bailout for those who otherwise should go bankrupt.

“Let the people who have lived beyond their means, let them go bankrupt. Let the liquidation occur,” he said. “We want our hands off.”

Paul expressed concern that low interest rates would have the additional consequence of encouraging government spending at a time when he believes Congress should be slashing expenditures and working tirelessly to reduce the deficit.

The presidential hopeful asserted that foreign intervention in particular had overwhelmed the U.S. government’s financial situation.

Turning to recent U.S. and NATO intervention in Libya, Paul said the U.S. government should not “pretend” that it can simply hand-pick who governs foreign nations.

“We have no idea what’s going to come out of Libya. I’m very skeptical,” Paul said. “But maybe it’ll be a miracle and everybody will be wonderful and they’ll have western democracy and everybody will . . . Please, what I’m predicting is that’s not going to happen. Because we’ve already said troops are needed now to maintain order. Nobody even knows who the rebels represent. And there’s good evidence that the al-Qaida is there.”

Paul pointed to his presidential campaign’s lead in donations from active-duty troops as evidence that the military supports his position.

By intervening in the Libyan crisis, the United States “may be delivering al-Qaida another prize,” Paul suggested.

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Retype Email:
Country
Zip Code:
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
You May Also Like

Rubio Showing Growing D.C. Donor Base

Sunday, 20 Apr 2014 16:35 PM

Florida Republican Sen. Marco Rubio hasn't brought in the most money of any potential 2016 presidential candidate during . . .

GOP Making Bold Play for US Senate Seat in Oregon

Sunday, 20 Apr 2014 11:28 AM

The GOP is making a bold play for a U.S. Senate seat in reliably Democratic Oregon, where a Republican hasn't been elect . . .

Viguerie: Time for Tea Party to Take Back 'Hijacked' Republican Party

Saturday, 19 Apr 2014 21:00 PM

Tea party conservatives who are angry at establishment Republicans for allowing the GOP to be hijacked need to "take o . . .

Newsmax, Moneynews, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, NewsmaxWorld, NewsmaxHealth, are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved