Ron Paul Makes New Prediction

Dr. Paul: 1)Assuming that this bill will pass, specifically, what should the american people be doing in order to prepare for a potential depression? Saving, spending, selling house and getting a smaller one, buying extra food, moving assest out of stock market to CDs, buying gold and other metals, etc. There are a lot of options, and nobody knows what to do to protect our money and to prepare for the storm. 2)I saw Warren Buffet on Charlie Rose and he is for the bailout. He claimed that Paulson and Bernanke were the most prepare people we have to handle the crisis if and only if we approve the 700B bailout. Considering that Paulson was ex-cee of Goldman Sachs, and now Buffet bought a bunch of GS stocks, what do you think of Buffet's assesnent of the crisis? All I know if that Buffet is no dummie when it comes to looking out for himself that is, I am willing to bet that GS will the the first ones to get a taste of the bailout money.Dont you think? 3)Polls all over the bloggesphere suggest that about 75% of the population are against the bailout, what do think about the politicians(deciders) to go against the population will?

Dr. Paul. "What is the worst case scenario if the bill is not passed? I'm in the mortgage business & I help families get loans to buy homes. Will the mortgage business be a thing of the past? Thank you & I respect your comment." Phil Lovelady

Cheryl: My question for Congressman Paul is simple: 1. Given the strong opposition to this rescue plan by the American taxpayer, why is no one in Congress listening?

I am aware othat fiat currencies have never withstood the test of time. However, has there ever been a previous period in which all of the worlds' major currencies lacked any precious metal backing? If not, is it possible that since now all currencies are fiat that this will allow them all to survive? Maybe it is all relative?

Ask him about this. In his Communist Manifesto, published in 1848, Karl Marx proposed 10 measures to be implemented after the proletariat takes power, with the aim of centralizing all instruments of production in the hands of the state. Proposal Number Five was to bring about the “centralization of credit in the banks of the state, by means of a national bank with state capital and an exclusive monopoly.”

Ron Paul, Most that have been paying attention are convinced that a commodity backed currency is the way to go since it would have made the inflation that contributed to this mess impossible. Practically, how can we get back on a commodity (gold, sliver, etc.) based monetary system? Thank you, Scott Brack

It's a shame Fox news demonized the wisdom or Ron Paul during the primary season. In fact Fox news offered it's own poll and Paul would always win first place. Yet they would claim the second place winner won or they would ignore there own poll just to support the lies of Rudy, Mitt or CFR member Fred Thompson. Fox would later hold is't own debate and not invite Ron Paul. If Ron Paul became president he would have restored our monetary system and improved our once good name around the world. Over the last many months Fox has began to lose it's creditability and now Ron Paul's wisdom and truth of our economic mess is now considered valuable to interview. The truth is Ron Paul needed to become president and it's a shame we have open borders McBama as the two choices. I will write in Paul's name or vote for Chuck Baldwin if he is on the ballot of Virginia. Every member who voted for the bailout should be charged with Treason. Every Senator who lives in a state which allows citizens to begin a recall should be recalled if they voted for the bailout. The same applies to congress. IN the end Ron Paul has been correct with every prediction... so listen to him and support him. We should never give anyone the power the senate bill provides.

Ask Dr Paul why our elected officials are determined to pass a bill that over 70% of Americans disagree with? Also ask him if our elected officials are aware of the possibility that they may be re- moved from office if they continue to support legislation that the American people don't support. Also ask him why all the pork that is hidden within the proposed legislation is not being brought to light by the main stream media?

Cheryl, I have a question for Dr. Paul. That question is, "Will the Fed and treasury be able to find an accurate price for the assets they intend to sell or will they begin price fixing? Furthermore, will the government balk at even selling the assets and inevitably enlarge the federal government by nationalizing the mortgages?" Thank you

What should I do with my money if I was one of the very, very few Americans that lived within my means, didn't go crazy buying homes I couldn't afford and actually do have a substantial amount of savings?

Question for Ron Paul: If the bailout causes hyperinflation as Peter Schiff has predicted, when could prices start to go up? Also does hyperinflation mean that housing prices will go up even though Ron Paul says they should come down? Will US hyperinflation cause prices to go up in other foreign currencies? Thank you

I want to thank him for speaking out against the bailout. Second, I would like to see someone ask him about H.R. 2755 and why it is not included in the Bailout seemingly as it would end some of the problems. People all over the internet complain that he says what is wrong but has no decisive plan. What would he do instead. Just a few questions and here is the bill http://www.govtrack.us/congress/bill.xpd?bill=h110-2755&tab=summary

Dr. Paul, Do you find it humorous that you have been predicting this economic meltdown for years and the media and the GOP laughed at you...and now you look like a genious? While you're at Fox, please tell Chris Wallace we Ron Paul supporters take our marching orders from the constitution! Thanks

Congressman Ron Paul, I have written all of my Washington State representatives and told them to vehemently vote NO to any bailout bill but all we have seen is the bill and its price tag grow and grow. I like to think that we convinced at least a couple (Rep. Jay Inslee and Sen. Maria Cantwell) to vote down this ridiculously socialized bill. I will vote against ANYONE who is for this. What else can I do to prevent the fed from taking over the banking community, eventual nationalization of Wall Street, and ultimately the erosion of MORE of my Constitutional freedoms? Respectfully, S. Dyson

No question just an extended thank you to Dr. Paul for not giving up on the American dream or the American people.

Will the Euro increase in value or decline in value because of the bailout? Was Europe more or less exposed to the banking/mortgage/crisis in credit? Will the Chinese Yuan increase in value because of the US dollar inflation?

Dr. Paul, What could Middle-class Americans do, personally, to prepare for a financial crisis, such as another great depression or recession. Or is there a way to prepare? --Nathan

I have been admiring Dr. Paul since his debates at Republican Primary. If what he says is true, including his analysis of why we are at this crisis, then I see that we have two choices: deflationary disaster if Congress doesn't pass this bill, and hyperinflationary wipe out if Congress does pass this bill. I would like to ask Congressman Paul if he predicts any possibility of Zimbabwe like hyperinflation for America within 10 years if we keep going down this path of spending and borrowing.

What legal recourse do Americans have when their Congressmen swear an oath to uphold the Constitution but repeatedly break that oath?

Mrs. Casone, Please ask Congressman Paul whether he believes the anticipated passage of this bill will mark the formal abandonment of capitalism in the US in favor of socialism. Secondly, please ask whether Congressman Paul believes a new consensus exists in Washington such that market indices like the DOW JONES INDUSTRIAL AVERAGE are now only permitted to rise, never fall; and whether this consensus will serve as a compass for future legislation. Thank You. Philip in Los Angeles

Here is a question I have for Dr. Ron Paul: what do you think of economist Prof. Murray Rothbard's specific plan for implementing a 100%-reserve gold-standard currency? Would it have prevented the current economic turmoil; and would it be a good solution for curing the ills of the present economy?

I saw a talk that Ron Paul gave last year predicting just what is happening. The more I see what is happening with this "bailout" bill the more scary it gets. Why are we responsible to bail out Wall Street in the first place? Wall Street was certainly NOT watching out for the folks when they were in the high cotton. I also believe the panic that is being generated is a false hysteria that is being made worse by the media and some of our elected representatives. We do need to address the financial crisis, but not the way that it is being done by politicians with today adding ONE BILLION on to the 800 billion to buy the votes of the 12 dissenters. The wooden arrows, wool research (for fleecing us all!), some millions for rum producers in the Virgin Islands (what is the deal with that?) and the rest of the craziness. There are so many sharp economists in America that have already made suggestions I'm sure, that could create a clean, workable solution that would strike at the cause also, so that we would not be revisited by this on an even bigger scale in the near future. We certainly don't need to assume that 800 billion is the starting point as Paulsen and Bernanke laid out....which doesn't even include what we gave up to Bear Stearns, Freddie, Fannie and then AIG! The worst thing to do would be rushing this problem through Congress now with all these add ons that will absolutely affect the citizens of the U.S. and are just another example of the same mentality that created the crisis initially! I think Ron Paul has some good ideas and I am interested in what he has to tell us. Thank-you.

I will be interesting in hearing what Paul has to say. I remember him predicted this collapse during the debates. He seems to know economics fairly well.

I do not see how we (the country) can recover from this fiasco for quite a whilte. My husband and I both work, we have paid off all credit cards, but still owe on the mortgage (no, we are not in danger of foreclosure). What should we - the middle class -do to stay afloat? Thank you, Susan Inloes I wish you had stayed in the race - we would have gladly voted for you!

Three questions: 1) If the bill passes, will this great depression be worse than the one in the 1930s, considering that the United States and its people are the world's greatest debtor nation? 2) If the US does fall into a depression, what are the ramifications to the world in light of the fact that the dollar is: 70% of reserve currency, the vehicle currency, and the quotation currency? 3) Have any politicians changed their minds after speaking with you? Thanks!

Dr. Paul, On June 15, 2007, you proposed H. R. 2755 "To abolish the Board of Governors of the Federal Reserve System and the Federal reserve banks, to repeal the Federal Reserve Act, and for other purposes." Why is there no specific language in this act to hold investigations against the Board of Governors for fraud and treason for destroying the value of our Dollar? In Liberty, Kevin Deis

I have a few questions. 1. Would Ron Paul be interested in starting up a new political party 2. Why aren't alternative plans being considered? 3. Why are all of the Pro plan people saying the same thing verbatim? (it's as if they held a class on capitol hill to teach them what to say) 4. Why do we allow a Senator to use scare tactics without being held responsible? (Insurance companies lost a ton today on mere speculation) 5. Why are all of the Senators and Congressmen saying that this is a bad bill but they are going to vote "yes"? 6. Will banks be more open to lend and if so, how long will this take? 7. How does this bill fare in our constitution and Bill of Rights? 8. How can we get our country back? Thanks, Monty Tyler

There certainly wont be a recovery. You'll get a quick pop in the stock market though. Good for a trade. And yes, it'll pass this time around, because there are too many monied interests at stake. The people with first access to all of this new cash (debt) will benefit the most from it. The common man will end up having to pay more for his energy/food needs. Deleveraging will continue until we get to the point where the government will assume the entire private debt. At some point, we'll default or pay our debts with money straight from the printing press causing massive amounts of dollars to return here from overseas.