Ron Paul Discusses the Fed, Iran, Tea Party Protests and New Book

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Long time advocate of ending the Federal Reserve System, Ron Paul, sat down with Russia Today‘s Marina Portnaya to discuss his views on the United States Central Bank, Iran, the economy and many other domestic issues currently occurring.

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Portnaya immediately began asking questions on House Resolution 1207 Federal Reserve Transparency Act of 2009, which is a bill that would give Congress the power to audit the Fed and has now reached just under 300 co-sponsors, including all Republicans and 93 Democrats.

“The bill technically removes all prohibitions to the Congress for not looking into the Federal Reserve,” said Congressman Ron Paul. “They’re allowed to audit, except for the important things they don’t want to be audited for.”

Doctor Paul introduced similar legislation in 1983, which prompted her to ask why it has taken so long for Washington’s Representatives “to get on board and move forward” with this type of bill. Paul replies, “People weren’t worried enough.” He continued, “Back then I was worried and I got concerned out of the 70s because of the breakdown of Bretton Woods and that’s why I ran out for Congress to talk about the financial situation, in that it would get out of hand and cause too much debt and too much growth of government. It would encourage the building of our empire and yet people never felt panicked enough. Today they’ve felt very concerned of what was happening. I wasn’t able to convince my colleagues of it as much as the people heard about it and lobbied their Congressman.”

Portnaya went on to discuss the Obama administration wanting to give the Federal Reserve more oversight and regulating power in which Paul chuckles and responds, “It’s very ironic! I blame the Fed for almost everything, at least the basic flaw in the inflationary bubbles that we have.”

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October 6, 2009

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