Ron Paul: Bernanke's Proposal Is 'More of the Same'

Friday, 23 Sep 2011 07:31 AM

By Hiram Reisner

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Texas Rep. Ron Paul says Federal Reserve Chairman Ben Bernanke’s proposal this week to lift America out of economic malaise is “just more of the same.” The presidential candidate also told Fox News Thursday that all Bernanke has ever offered is “printing more money.”
“Well, it’s just more of the same — and that is all they know, and that is all Bernanke knows,” Paul told Fox News’ Sean Hannity after the GOP presidential debate. “All he said, he did all of this research on the Depression — and he said, the Depression wouldn’t have lasted if they had printed more money much, much faster.
“And the only thing he’s ever offered is printing more money — and when you do that, you distort the market,” Paul said. “The most important thing in the market is prices — everybody knows wage and price controls are very, very bad. But we constantly accept the notion that the Federal Reserve can fix the price of money . . . and this is the key to the problem.”
“ Unless we deal with that, we can’t deal with the problem of unemployment, and savings, and capital, and all of these things,” he continued. “That is why the monetary issue is so important.”
Hannity then switch gears and questioned Paul about his sometime isolationist foreign policy views and asked why the United States shouldn’t try and prevent Iran from expanding its nuclear capability.
“First, we don’t have the authority; second, we don’t have the money; third, we’re talking about national security; and fourth, I think it hurts Israel,” Paul said. “I mean, where is the right written in the Constitution [that] we should be the policeman of the world?”
Paul said that Iran has “a lot of oil but they have to import gasoline,’ and indicated the country might not be as much of a threat as some think.
“They don’t have intercontinental ballistic missiles and people . . . [are] willing to go in there and aggressively attack the country?” he said. “And they don’t even have a weapon.”

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