Ron Paul at Oil/Dollar Hearing 7/24/08

Here's Congressman Ron Paul's opening statement and his portion of the question and answer session of the House Committee on Financial Services hearing entitled "Implications of a Weaker Dollar for Oil Prices and the U.S. Economy," July 24, 2008.

Written testimonies and other information can be found here:

http://www.house.gov/apps/list/hearing/financialsvcs_dem/hr0717082.shtml

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• hearing
• 7/24
• house
• oil
• economy
• recession
• depression
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• fed
• inflation
• crash
• congress
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• walter
• williams

[ILovelisanova]

who is the witness Ron Paul is questioning?

[minnesotachris]

I believe that's Walter J Williams of ShadowStats (dot) com

[lastnymleft]

Note how there is no-one there at the hearings? All the panel members, apart from Ron Paul, and the Chairman, Barney Frank, are absent. And then Frank bails after having done the bare minimum, leaving only Dr Paul to fight for We The People. Again. So, the actual answer to all our problems could have been revealed - in fact, it was - but no-one was there to hear it, apart from those that already knew it. This is shameful. Our representatives should be ashamed. We need to hold them accountable.

[lastnymleft]

Holy Cow!! Dr Paul nailed it - as per usual - but that witness at the end was explosive!! No wonder the Chairman started whacking her gavel! It's on the record now, though: with M3 of 15.8%, expect double-digit official inflation by early 2009!

Stock up NOW! Buy gold! Buy silver!

[helpendthefed]

@jaguarclaw He said could be in double digit inflation by early 2009. Looks like we're in the 8% range right now. The Fed decreased M3 in late '09. The Fed is starting to ramp up purchases of T Bills now so that will increase the money supply again. At the time of this meeting Aug 4 2008 Gold was at $892/oz. Now it's $1325/oz. That's a 67% increase in a little over 2 years. Gold is the canary in the coal mine for inflation.

[ilcvmvm]

if this brave politician got to be president he would be shot the first week. 

[Consumerofknowledge]

@sexyme93 They got america off reading somehow...not sure how. We used to read a lot!

[slickbtk]

lol well I too was early educated in the public government run schools so maybe you can blame my grammer on that. again when you cant attack the merit of my argument you resort to attacking my intelligence and grammer. ti drive the point home to you again..its like if you say 2 plus 2 is 3 and I say 2 plus 2 is 4 and your response to me is that im a poopie head. im just trying to help people with what I believe to be a currency collapse, and debunking fools like you is how I do that.

[rob5i]

This will be my last response to you. I don't have any gold. I don't have a TV. I don't need a box to tell me how to think. I was educated in the public system. When you call the nation's education system ignorant you might lend yourself some credibility by using correct grammar, sentence structure, punctuation and spelling..

[slickbtk]

will do,and in your case you can keep watching those infomercials to send in your gold for a piece of paper and keep staying close to those ignorant brainwashing government schools that teach you that government is above human nature and they are not corupt or greedy and they will save us all.I mean without barney frank we would all be walking around with sticks wearing leafs and trying to start a fire right? I say 2 plus 2 is 4 and you say no its not and then sugest that im stupid for saying so

[rob5i]

I your case I'll make an exception and say go ahead and buy up as much gold as you can, keep watching the infomercials and stay far away from any schools.

[slickbtk]

2 things,first there is no way that someone can make gold, atomic theory is just that a theory. no one has ever sceen an atom just like no one ever sceen a big explosion 4 billion yrs ago that majically started the whole world. they still cant say for sure what causes an "atom bomb" to explode, there is no way they can create real gold. secondly remember that the dollar has all the charactoristics that you use in this anti gold fantasy, its just a piece of paper, not only scientist can make that

[ILovelisanova]

oh, awesome. I thought it might have been him....good guy