Ron Paul Exposed the Fed and the Neocon Scam

By Branding Pot @ Shutterstock.com

In a lengthy piece on his website, LewRockwell.com, Llewellyn H. Rockwell Jr. outlines the accomplishments of former congressman and presidential candidate, Dr. Ron Paul, in both foreign and domestic policy. Rockwell writes:

But Ron Paul permanently changed the nature of the discussion on war and foreign policy. The word “nonintervention” rarely appeared in foreign-policy discussions before 2007. Opposition to war was associated with anti-capitalist causes. That is no longer the case.

In exposing the fraudulent American foreign policy debate, Ron exposed an overlooked truth about American political life. The debates Americans are allowed to have are ones in which the real decisions have already been made: income tax or consumption tax, fiscal stimulus or monetary stimulus, sanctions or war, later war or war right away. With debates like these, it hardly matters who wins. Ron pulled back the curtain on all of it. Ron kept insisting that there was no real foreign policy debate in America because all we were allowed to do was argue over what kind of intervention the US government should pursue. Whether intervention itself was desirable, or whether the bipartisan assumptions behind US foreign policy were sound – this was not even mentioned, much less debated

Of course, Ron applies his wisdom to the current war between Russia and the Ukraine. In contrast to brain-dead Biden and his gang of neo con warmongers, he urges us to stay out of it. Likewise, he wants us to avoid a confrontation with China. We can have friendly relations with both China and Russia, and neither country threatens us. Why provoke a war that could lead to the nuclear annihilation of the world? As Ron said in a recent article, ““War is a racket, wrote US Maj. General Smedley Butler in 1935. He explained: ‘A racket is best described, I believe, as something that is not what it seems to the majority of the people. Only a small “inside” group knows what it is about. It is conducted for the benefit of the very few, at the expense of the very many. Out of war a few people make huge fortunes.’

Gen. Butler’s observation describes the US/NATO response to the Ukraine war perfectly.

The propaganda continues to portray the war in Ukraine as that of an unprovoked Goliath out to decimate an innocent David unless we in the US and NATO contribute massive amounts of military equipment to Ukraine to defeat Russia. As is always the case with propaganda, this version of events is manipulated to bring an emotional response to the benefit of special interests.

War is a racket, to be sure. The US has been meddling in Ukraine since the end of the Cold War, going so far as overthrowing the government in 2014 and planting the seeds of the war we are witnessing today. The only way out of a hole is to stop digging. Don’t expect that any time soon. War is too profitable.”

Let’s look at the other key issue in Ron’s congressional career. After he suspended his 2008 campaign for president, he gave an extraordinary speech. No focus groups urged Ron to talk about the Federal Reserve. No politician had made an issue of the Fed in an election in its 100-year history. Stick to the script, the professionals would have said: lower taxes and lower spending, the monotonous refrain uttered by every Republican politician, who typically has no interest in carrying through with either one anyway.#5 The Fed cannot be ignored.

Here again, had Ron adopted conventional political advice, he would have forfeited these historic moments and the Ron Paul phenomenon would have been greatly diminished, if not compromised altogether.Yet Ron pointed to the Fed as the source of the boom-bust cycle that has harmed so many Americans. His dogged insistence on this point got a great many Americans curious: what, after all, was the Fed, and what was it up to? An unlikely issue, to be sure, and yet it was his willingness to talk about it that in my view helps to account for much of his fundraising success. There was a small but untapped portion of the public that responded with enthusiasm to Ron’s very mention of the Fed, and they wanted more.

Only a few months after Ron officially suspended his 2008 campaign, the financial crisis struck. Just as Ron had said, there was something indeed wrong with the economy.

Because he hadn’t hesitated to say what he believed, even if it meant dealing with an issue no political operative would have encouraged him to discuss, Ron was a prophet. That point alone opened countless more people to Ron’s ideas: here was the only guy in Washington who warned us of what was to come. (And incidentally, has there been a time in American history in which more people were reading – and writing! – anti-Fed books?)

People could see, too, that Ron hadn’t just gotten lucky in 2007 and 2008. In 2001, Ron said on the House floor that the Fed-fueled bubble in tech stocks, which had just burst, was being replaced by a Fed-fueled real-estate bubble, which would burst just as surely.

Of course, it’s not enough just to get rid of the Fed, essential as that is. We need sound money, and for Ron, following Mises and Rothbard, this means the gold standard. Once, when our Ron was invited on the other Ron’s Air Force One for a flight to Houston, Ron Paul commented on Reagan’s watch, which was made from a $20 gold piece. “I wish we still had that monetary system,” said Ron Paul. “You know, no nation that abandoned the gold standard has remained great,” said Reagan. Don Regan told the president to drop the subject.

In 1982, Ron Paul served on the U.S. Gold Commission to evaluate the role of gold in the monetary system. In fact, the Commission was his idea. It was carrying forth a promise made in the Republican platform.

Ron couldn’t pick the members, so from the beginning, the deck was stacked. The majority was dominated by monetarists, who saw gold as too scarce and paper as just fine. Ron Paul’s team was ready, however, with this marvelous minority report.

Rarely has a dissent on a government commission done so much good!

The result was The Case for Gold, and it was the greatest result of the commission. It covers the history of gold in the United States, explains that its breakdown was caused by governments, and explains the merit of having sound money: prices reflect market realities, government stays in check, and the people retain their freedom.

The scholarship and rigor impressed even the critics of the minority. Ron and Lewis Lehrman worked with a team of economists that included Murray Rothbard, who was the main author, so it is hardly surprising that such a book would result.

I am convinced that historians, whether or not they agree with him, will continue to marvel at Ron Paul for many, many years to come. Libertarians a century from now will be in disbelief at the very notion that such a man actually served in the US Congress of our time.

Read more here.