Ron Paul: "It's Going to Get Much, Much Worse"

Tyler Durden's picture

Submitted by Adam Taggart of Peak Prosperity blog,

Dr. Ron Paul has long been a leading voice for limited constitutional government, low taxes, free markets, sound money, civil liberty, and non-interventionist foreign policies.

His last term in the U.S. House of Representatives ended earlier this year, so we caught up with the former Congressman to get his latest perspective on how successfully our national leadership is dealing with America’s economic challenges.

In Dr. Paul’s assessment, Washington is too committed to deficit spending and the debt-based economy – both operationally and philosophically – to expect it to embrace a more fiscally-responsible model without a forcing crisis (which he believes is coming):

[T]hey believe it like a religion that spending is good no matter what the spending is on. And that the deficits don't matter; deficits are not a burden. And even though we have this national debt and we have a foreign debt, they don't consider that so bad, as long as people will spend money. And if the people won't spend any money, the government has this moral obligation to do it.


I don't expect anything else because they are reflecting what I consider “prevailing attitudes.” And the prevailing attitudes for the last 50 or 60 years, especially since the 1930s, has been spending and deficits and printing money is the way to go.


But where I am encouraged is outside of Washington. You get a better perspective from people like you who talk about this and get people to look at their investments. I think this is beneficial, because a lot of people are realizing this whole system is deeply flawed, and they are looking elsewhere. And that is why I talk a lot about free markets, and property rights, and Austrian economics, and getting rid of the Fed. All these things are now up for grabs. A lot of people, especially the young people, are looking at this. So, for this reason, I am a bit encouraged by what might come out of this.


But I think we are going to go through the ringer. I think it's going to get much, much worse. It is bad enough already, but there is no way that we can step back.


The one thing I am convinced of, after having spent so much time in Washington, is that this will not be a gradual recovery from this disaster that we have. We are not going to elect enough people and have enough courage to vote the right way; there is too much demagoguing and too much misunderstanding. The people would revolt, but the collapse will come. It is going to hit the dollar, and then we are going to have our opportunity. 


So, the more people who are protected intellectually as well as financially, the better off we will be in rebuilding what we will need to do in the near future.

Dr Paul continues to be vocal about the destructive role the Federal Reserve’s loose and interventionist monetary policies are having in enabling the mal-investment in the system:

What if the Fed could not buy government debt? What a different world it would be. Everybody said this would be a disastrous to the economy but what if people accommodated with this?


What if there was a dependency on saving? What if we did have a market rate of interest? And what if that resulted in less bubbles? All of a sudden the world would be a different place.


But no...The only thing they can even do is spend more and more money. That is the only tool they have.


So, for that reason, I am not shocked at the numbers. I guess I am more surprised that the whole thing holds together so long. Because when you look at this, and you look at the foreign debt, and the national debt it is so outrageous, and there is still confidence in the dollar, the world they do not have a good currency, so the best they can come up with is the dollar, but even the dollar is less popular than it used to be. It is being held a lot less now as reserve currency, but we can still buy oil, and we can still buy our stuff from China, and they take our currency.


But what amazes me is that it holds together. So I think monetizing debt and spending and deficit is going to get much, much worse until the world rejects the dollar. And there will be a rejection here at home, and prices will soar, and eventually interest rates will break loose and they will start rising.

He continues to view precious metals as prudent to hold in advance of this currency crisis. But in the long run, he sees civil agitation for smaller government as our best strategy:

I don't think the euro is going to replace the dollar. And that certainly looks like it is the case. You are not going to go to yen, and you are not going to go to special drawing rights…


No, when people become frightened, they look for things of real value, and I don't think they can repeal the laws of economics that says that for 6,000 years metals have been beneficial. They will go to monetary metals, gold and silver, and they will buy other things, such as buying property. But no matter what we have, whether we have our gold coins or we have our property, if we have an authoritarian government, that is our greatest threat.


So, I would like to think that there is no perfect protection, other than shrinking the size and scope and power of government, so that we can be left alone and take care of ourselves.

Click the play button below to listen to Chris' interview with Dr. Ron Paul (19m:37s):


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stinkhammer's picture

eric, barry and benny could learn a thing or two from this statesman

espirit's picture

"...if we have an authoritarian government, that is our greatest threat"...

That is a revelation, and thank you Dr. Paul.

/sarc on/off, I forget which.

Zer0head's picture
Few options for online users to avoid spying, experts say


sayonara amigos


I leave you with this -  take heed and God Bless


Zer0head going dark

Hulk's picture

Its the fake Zer0head...

smlbizman's picture

fake or not...pussy..

55 men's picture

" It is going to hit the dollar, and then WE are going to have our opportunity. "


This how I have seen it, I am somebody who has to believe there are some good guys in high places, out there waiting for this to collapse. Call me bat crazy or whatever. Things will get much worse before they get better but they will get better.

fuckitall's picture

I don't share your optimism.

I believe when (not if) USD is rejected by other nations and loses reserve status, that's it for America, game over, done, finished.

Like I keep saying, govt plans vs banker plans.  Way different.  And bankers have always won.

Who knows, end of USD could be soon, maybe why Bernanke disappeared, even why all this surveilance stuff coming out, last fear campaign hoping to keep sheeple in line if it does go soon. 

Always figured it would be slow slide to worthless, but maybe not.  SCO announcing gold-backed currency would kill USD overnite.  We'd wake up to worthless dollar and market pandemonium, and it goes downhill from there.

I never felt Rothschilds et al want America as the center of their "world government".   Always felt it would be Europe.  No evidence, just gut feeling.    Maybe they feel it's time to "take America down a few notches" before this surveilance stuff really gets out of hand, and killing the dollar would be a simple way to do it.  They're bankers after all. 

Cheduba's picture

I agree that the world will probably be run from Europe and probably always has been run by the old bloodlines directly from their old hunting grounds.  It seems like many current events can point back to the financial district known as "The City" of London.

tango's picture

I am convinced that our current circumstances are due to our own ineptitude, willingness to take the easy way out, opting for gratification over prudence, spending over saving and fighting over trading.   I've ignored all the conspiratorial views of history because they're so simplistic - like blaming Jews for the Black Death or Mexicans for a bad economy.  Sometimes there are no pat answers, no convenient group to point fingers at.  

The USD will be the last fiat around due to historical pressures alone.  The world currency does not collapsed while such dingbats as the pound and euro float merrily along.  We are the authors of our demise - not some shadowy group.  The spying was simpy the next stage for folks who know nothing to do except react.  

Oldwood's picture

It looks like their plan is working. There is about as much chance of any of us becoming victims of this dumbass crackpot "intelligence" system our government has created, as being killed by a terrorist. As with the profiling by the IRS and every other heavy handed and corrupt action this government takes, its more for effect than actual results. They want us afraid. Afraid of everything and everyone. Our fear is their power. We have just seen someone stand up to them and likely he will suffer, but the more of us that pull our heads down and act like we can somehow hide from this are no more enlightened than the jews were in Germany, as they were hauled away, first one at a time and eventually in train car loads. I'm not saying we should lunge straight into their bayonetts but to go sillent now seems like a complete waste and an ultimate capitulation to me. But then again I could simply be a fool, like everyone else who thought they could stand against tyranny.                                                                                                        

fonzannoon's picture

Maybe now that this kid laid it on the line we all owe him something. Maybe we should all be asking ourselves how we can help this guy in our own way so what he did matters.

A Lunatic's picture

Stand, bitchez............

Meat Hammer's picture

Libertarians:  Wanting to take over the world and leave you alone. 

americanspirit's picture

Oldhead - you are not a fool. You are a voice of sanity. It is helpful to remember that those who are putting these systems into place are simply flawed humans who, despite their belief that by being hierarchically organized into seemingly flawless systems they are somehow superor intelligences, they are in the end just greater fools. The people who sit at the heart of governmental power are no smarter, and no more competent, than anyone else, and despite their flagrant abuse of regulatory power, they are still simple idiots. That will be the salvation of our democracy, if there is to be a salvation instead of degenerative chaos.

tango's picture

Perfect.  My reasons exactly for not giving credence to conspiracy theories as explanation for this or that event.   Govt officials are just like us only they have a little power.  They are no smarter or talented or competent and thus, could not meticulously organize exotic conspiracies and execute them with perfection - especially when every atom of evidence demonstrates their utter incompentence.  

We have devolved to a point where officias earnestly insist that the best way to fight terrorists is by spying on the American people. 

Midasking's picture

Well said... we just need more to wake up and take a stand

Milestones's picture

Sorry to see ya split. The older poster blues. Have a good one no matter what.             Milestones

TheReplacement's picture

Go dark.  Go hide.  Just go.

NSA:  Go to hell.  I ain't going dark or hiding.  You bastards cannot control me or make me fear you.  

Abaco's picture

Fuck the NSA.  Jail James Clapper and every asshole working at NSA, or Congress, or anyone in the Executive Branch or the judiciary, who knew about this.  The LAW is not what those pukes say it is. 


9-11 False flag. Ricin. Biological agent. Bomb. Allah. airplane. pressure cooker. nerve gas. jihad. messenger. Bin laden. Al Quaeda. consitution. limited government. pro-life. sovereign. Fuck the NSA. Screw the IRS. Jail Holder. Jail Obama. End the Fed. Screw Bernanke. Jail John Corzine. treason. Caliphate. Sharia. Eat shit and die tyrants.

Turin Turambar's picture

While I understand your sentiment, don't let them run you off.  I'm surely on several lists already, and attempt to engage people in conversation regarding the state of things when the opportunity presents itself.  The authoritarians can kiss my arse.

"All that is necessary for the triumph of evil is that good men do nothing."
--Edmund Burke

redrob25's picture


There are options to avoid spying. While the NSA is developing the Utah super spy center, even they have limitations. 

Firstly, they can only break 128 bit AES encryption with their super computer complexes. They can't break 256bit AES. So, you just get two things:


1)Free - Truecrypt (.org) -- encrypt all your local computer files with 256bit AES, using at least a 14 character passphrase. That protects your data 'at rest'.

2) Cryptohippie - this pay VPN service encrypts your communications with 256bit AES, uses proxy chaining to 'scramble' the pathways to avoid detection, and uses forward packet security to make it nearly impossible for anyone to capture more than a few packets of your data at a time (and they still have to decrypt it). 


There are ways to ensure your safetly online, and that article you quoted was fearmongering bullshit. 

Redneck Hippy's picture

"Ron Paul has long been a leading voice for limited constitutional government, low taxes, free markets, sound money, civil liberty, and non-interventionist foreign policies."

Ron Paul is a moron who spouts crazy conspiracy theories and libertarian mumbo-jumbo as long as he can get attention from media outlets and any dumb-ass billionaire with money.

Zero Hedge demeans itself by giving credence to Paul's dementia-laden diatribes.

TheReplacement's picture

Wow dude, don't understand history much?

SWIFT 760's picture


get the fuck outta here

Pareto's picture

and unfortunately, ZH also demeans itself to redneck hppies who are incapable of distinguishing their brains from their own ass.

Charles Nelson Reilly's picture

Not sure why I'm wasting the minute to type this, but you are a fucking moron that should immediately remove oneself from any sort of conversation about anything at all. There are some good Dead cover bands that I recommend you follow.

Ctrl_P's picture

That you MDB ?? - Just on the political tangent rather than the economic one?

John Law Lives's picture

Those a-holes don't want to learn.  They want to impose their own will.

RabidLemming's picture

i was going to say something really witty.... and all i can think of is "we are so fucked" going to go drink more now and pretend this will get better.


icanhasbailout's picture

... and that's the good news

Bay of Pigs's picture

"We are not going to elect enough people and have enough courage to vote the right way"

I nominate Edward Snowden.

AlaricBalth's picture

Snowden donated to Ron Paul's campaign in 2012. It should have been a clue that he was not a goose stepping sycophant who can be influenced to toe the "company" line.

COLUMBIA,MD 21045 DELL 3/18/2012 $250 Paul, Ron
WAIPAHU,HI 96797 SENIOR ADVISOR 5/6/2012 $250 Paul, Ron

duo's picture

I guess the IRS will be asking for an audit.

howenlink's picture

AlaricBalth, that just made my day.

francis_sawyer's picture



all my GOOD comments were dropped in the previous BUSH/OBAMA/GROSS & BOOZ ALLEN threads be4...

I'm 'tapped' bitchez [unless someone else has a ready loaded MAG to toss me]...

Dr. Engali's picture

Here you go Francis. Watch Bill Maher defend the NSA

Oh and he is Jewish btw. ;->

francis_sawyer's picture

Doc... I gotta admit... I really don't watch ANYONE... [I really don't because my thesis is that ANY media personality is a shill]...


Which means... I rely on my own instincts... If they are incorrect [which sometimes they are]... I ADMIT to the mistake...

I think anyone who has ever read any of my comments on ZH would not ever be able to build a case to discredit that... & I'll stand by that comment until someone endeavors to prove me wrong...

Dr. Engali's picture

I agree. I don't watch any of the statist propaganda, I will follow a link though. It is funny to see them all pile on the same side of the ship on this one stripping away the facade that there is a difference between them.

francis_sawyer's picture

THAT... You quite obviously... UNDERSTAND...


Which is why your comments on this blog are easily understood... The 'stripping away' [which you refer to], are, metaphorically... ONION LAYERS...

Onion layers... Boiled frogs... It's ALL a part of the daily news that we're either expected to:

- subject to

- argue against

- get bulldozed under

Frankly... I... as a somewhat 'FARMER'... advocate the LAST of those optioins...


Because I spend the bulk of my time FIGHTING those elements that would ultimately destroy my productive crops...

TeamDepends's picture

Got your back francis, but it was probably "twat waffle" that sent them over the edge.

Bay of Pigs's picture

I watched that. Just wow. What a scary bunch of tools all shitting on the Constitution and Bill of Rights at once.

That is the definition of Full Retard right there.


FreedomGuy's picture

Bill Maher is in the words of the old Soviets, a useful idiot.

rustymason's picture

Bill Maher and his tribe still opens their mouths any time a comrade says, "Body of Stalin." They're still angry about the Berlin Wall falling on their heads.

smlbizman's picture

pigs....thats 1 ...and question..... do we support mike lee and ted cruz, rand paul and maybe a handful more?...(personally i give them room to get off the hardline) cant get anywhere standing in front of the train and telling it to stop....jesus christ look how that short armed fucking piece  of shit mccain treats rand paul on the floor.....( and as a side bar...graham, we know you suck dick) the machine is massive,... fuck, ross periot quit from threats, and how long a go was that? a human i want to believe in man a few more edward snowdens, bradely mannings and maybe the gentlemen mentioned above and we start to turn this sinking fucking battleship lets make some fucking noise.... get on our close peoples nerves... give them printed articles...while standing in line start a conversation....and any other way you fuckers can think of.......i read the words of someone a few yrs ago who said..."when corruption starts making the headlines we are getting close".... well, i think we are francis_ ,et al keep running your mouths and all you other fight clubers...MAKE SOME FUCKING NOISE..... 

disclaimer,..i may have a buzz...

espirit's picture

With no outrage, there will be no fight.


francis_sawyer's picture



Yeah I guess... I guess I'll keep runnin' my mouth...

But that's only because I keep:

- wakin up in the mornin'

- & the sun always seems to keep risin' in the east

When that stops happening... I'll just SHUT UP... I promise you...