Video: Ron Paul in 1988

Highly recommended Ron Paul interview from 1988.  Please add comments about what is said in the video so others searching for particular content will find this video.

• Republicans and democrats tend to have their strings pulled the same people – by the power structure – that being said Ron Paul is a Republican and thus I conclude Republicans are marginally better
• Foreign bonds can be used by the Federal Reserve as collateral.
• Federal Reserve is a private corporation but it is mandated by the government and has the power to print money.
• Congressman are not allowed to go to Federal Reserve meetings
• Ron Paul was already campaigning for a Federal Reserve audit in 1988 and before
• Federal Reserve clears checks
• Government can tax, borrow or inflate.  Fed is designed to accommodate the politicians
• Not everyone suffers the inflation equally.  Government and some large corporations benefit.  The poor saver is played for a sap.
• Arrogance of government – they think they can control the market
• Bankers ultimate out is to say to the politician that power is threatened
• Emergencies power is designed into the Federal Reserve
• FEMA planning for economic emergencies was suppressed during Iran Contra hearings by a democrat congressman
• Fractional reserve banking yielded inflation and a crash in the 1920’s and the great depression.
• Paul predicted a recession in 1988.  A little early but not that early all things considered.
• Austrian economics is better than Keynesian
• Great depression of 1988 is 20 years late = 2008
• Ron Paul is for the gold standard
• Ron Paul – very hard to abolish the Federal Reserve
• Bail outs are structured to maintain the power structure
• Bankers will eventually resort to intimidation of politicians – sounds like the Goldman Sachs bailout !
• Fed can hold a Mexican bond and used as collateral for monetization , create new money and distributed paper money. Thus your currency maybe backed up by worthless paper
• International bankers are tight with each other. Central bankers get together and make plans independently.
• Panama Canal treaty – Panama had trouble making their payments to the banks – needed better cash flow – the panama canal treaty occurred and they had better cash flow – now their Noriega is not so obedient.  Bankers wanted rid of him.  Noriega suggested if they got too close he would disclose information
• Use drug trade as excuse to have currency controls to prevent American citizens from moving money out of the USA.  Prevent wealth preservation
• Foreign investments in the USA circa 1988 – stop subsidizing our competitors such as Japan.  
• Foreigners buy our debt when it does not make much sense.  They buy to maintain their internal order also.  Long term we can not pay the debt.  Foreigners will be left holding the debt.  That will be the precipitating event of the crisis.
• Dismantling the power structure is not a simple thing

Revealing interview from the August, 1988 broadcast of Frank Morrow’s "Alternative Views" found at archive.org. It cements Dr. Paul’s place as America’s leading economic prophet crying in the wilderness and a voice we ignore at our own loss. At the time of the interview, Dr. Paul was the Libertarian candidate for president. From the original description: "Former four-term Congressman Ron Paul describes the American power structure. As a member of the House Banking and Currency Committee, Paul was in a unique position to see the inner workings of economic power and control of the country, and how this power translates into political power. Paul describes how, through the control of the Federal Reserve and the banking system, the American power elite is basically out of reach of the democratic system." There’s a lot of information contained. Dr. Paul rightly states that many politicians in DC aren’t informed about the nature of banking or economics, a condition that serves the interests of the central banking establishment. He also rightly states that the Federal Reserve, due to its secrecy and power, is nothing less than evil. This American agrees. And Ron Paul is still the only candidate from either party that isn’t a member of the Council on Foreign Relations. Please excuse the sub-standard editing job. It’s my first venture with video software (thanks http://www.squared5.com). This interview was originally released to the net under the Creative Commons license: Attribution-Noncommercial-Share Alike 3.0 United States "DEFINITION OF THE ALTERNATIVES IS THE SUPREME INSTRUMENT OF POWER"