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Jim Cramer Interviews Ron Paul

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Published on May 23, 2011

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Ron Paul is running for president as a republican, and he is very outspoken about the federal reserve. Causes and kissing babies are not going to cut it anymore. Now YouTube is much more important.

It is amazing how much support there is at college campuses about getting rid of the Fed. The Federal reserve created the stock bubble with low interest rates, and it caused the housing bubble with low mortgage rates. We don't even know if they still have the gold over there. Unfortunately, most people have no idea what the Federal Reserve is or what they do.

When the Fed makes a mistake, they just continue doing what they have always done. They just cover everything up. Bernanke didn't see this coming, even though it has been coming for a long time now. It climaxed in 2006 and 2007, and now it is complete chaos.Millions of people could lose their homes, but all they do is tinker around with policy. The Fed has no idea what the interest rate should be. When people criticize the Fed, they usually say that interest rates are either too high or too low, but how do they know where interest rates should be? Only the market can determine that. People are beginning to wake up, especially the young people. They understand the monetary system a lot more than the people in Washington would like to believe.

We have a pretty good chance of getting rid of the Fed. Barney Frank is on board, so hopefully things are moving forward. We have a large domestic problem with a lot of unregulated people running around who don't have to answer to anyone. The congress either doesn't understand the monetary system, or they are uninterested because they like the benefits that they get from it. These people in the government are men and women just like you and me. The only difference is that they are allowed to run amuck without any checks and balances.

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