Ron Paul: The United States is Bankrupt

AT 5:21

Transcript:

Glenn Beck: Were back with Texas Congressman Ron Paul. Senator Gregg said that the United States is going bankrupt, and that Obama is going to bankrupt the United States of America. Do you believe that, Congressman?

Ron Paul: Not quite, because I think its already bankrupt. Its insolvent, and we couldnt pay our bills. The official declaration hasnt been done yet but we couldnt pay our bills. Everything that we pretend that we owe theres no cash flow to pay for all the bills. Even if we sold every acre of land in this country I dont think we could pay our bills.

So yes, the bankruptcy of America is here and I think this financial crisis should lend itself to our benefit, in that people will become outraged and maybe demand some changes here in Washington.

Glenn Beck: So when you say we cant pay our bills, what does that even mean? It doesnt affect people when they realize now that the new number is $116,000 for every family of three. $116,000 every American family now owes. People just think, Im not going to have to pay that, it will just roll over into something else.

Ron Paul: No, if you cant pay your bills then you have to go out and borrow it or work harder, and everybody understands that. The government cant pay their bills, they dont have the money. The tax revenues are going down and the bills are going up. We dont slow up on the spending, we quadruple the amount of spending. But they have a printing press and they print the money. People still have a trust in the dollar, so they pay the bills that way, which is deceitful and wrong and this is why I think go ahead.

Glenn Beck: Well, I was just going to say that the thing is I mean if you saw last week when they started monetizing our debt which, America, means taking an IOU from one pocket, giving that IOU to the Treasury, the Treasury prints a trillion dollars, then hands it to the other hand and says, Oh my gosh, look at the money. Oh can we borrow that? I mean, its crazy talk. Gold went up like $78 that was people freaking out. But what they will say is, The rest of the world is in worse shape than our dollar is and so were fine, were going to be fine. Everybody else is going to collapse before we do.

Ron Paul: Well, that isnt the case, but this is an opportunity for us because for a long time Ive been saying that we need more transparency of the Federal Reserve because they were creating the bubble. We could have prevented this, but they didnt listen, the crisis has come. But now the people are much more alert and saying, Yes, that makes a lot of sense. We do need to know what the Fed is doing and thats why they support my position on transparency in the fed.

Glenn Beck: So what is it we can do? What is it actually that people in Washington fear? Because I dont think they fear anything, they dont fear a scandal, they dont fear anything.

Ron Paul: They fear truth, if the truth comes out they cant handle that.

Glenn Beck: What can the average person do to let the people in Congress know, Hey, you work for me.

Ron Paul: Everybodys job is different. It might be running for Congress, supporting candidates, calling their Congressman, doing whatever. In my own little way, for these many decades, its been dealing with the monetary system, because I thought it was the big issue. And Im working right now on a precise piece of legislation, HR 1207, which would demand that the Fed open up their books. They have not had to do that. Theyre protected by the law. So that is something I can do, others could help me if we get to Congress. The people want that. I would

Glenn Beck: HR 1207. Congressman, thank you very much.
______________________________________________________________________________
Turn off the TVs and radios folks. These media modes are being used to distract you from what is really going on.

These people in the media are paid prostitutes! They are paid to tell you lies. The truth is that if they told the truth they would either be killed or not have a job!

Sad world we live in when power means more than humanity. These are some really sick, inbred minds.

You called for a leader to rule over you and now those that rule over you are enslaving you further.

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[ThatDifferentGuy]

Did this republican news outlet disrespect the only respectable republican?

FUCK YOU GLEN BECK.

[MilkDrinkerIntl]

@crazymike44 How can US destroy the world economy? A fucking 3rd world country no one cares about? US is gonna be the first country joining 4th world!

[exp787]

Senator Gregg works for Goldman Sachs now

[megamogx]

audit the fed!

[ukusapillage]

its a slap against every person on earth that works for almos nothing seeing their goods an resources of their countrys going to america in exchange they get worthless dollars why not trade for gold, witch is real, or else every country with a printing press could play this game, whatever was the reason that made countrys be controlled by usa its over, it was corruption, africa could feed the whole world and they cant even feed themselfs because of this game

[ukusapillage]

this uis the reason why the usa is destroying the euro, but even if the euro breaks, there will still be great currencys, that are actually stable, like german mark, swiss franc french franc, actually most european currencys had gold backing them, even my country, portuguese escudo was backed by gold, in every note it said note issued by bank of portugal of 100 escudos of gold, it was fear that made ppl buying dollars an support against ussr now theres no reason, usa is the bully

[ukusapillage]

americans think they can just trade worthless dollars for things like food, precious metals and hard work and slavery of the rest of the world, what a great deal, only jews could had made such deal, and if ppl dnt want their inflation and dollars the usa goes and wages war killing ppl just because they dont want to be inslaved, the land of the free, what a joke, of the brave, nope its the land of the greedy inslavers

[Thayabharan]

What we’re seeing is a catastrophe on multiple levels of US government.

Republicans will surely be emboldened by the way Obama keeps folding in the face of their threats. Obama surrendered last December, extending all the Bush tax cuts; Obama surrendered in the spring when they threatened to shut down the government; and Obama has now surrendered on a grand scale to raw extortion over the debt ceiling.

[Trajiq187]

USA is going bankrupt on April 02! Your reign now is over. No empire has ruled forever, not even the romans.