Ron Paul Attacks Federal Reserve

Republican candidate pushes for changes to the country's monetary policies.
13:12 | 02/07/12

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Transcript for Ron Paul Attacks Federal Reserve
Thank you thank you. Making her. Thank you for all your hard work and believe it or not we did very well tonight have a very very strong second place in it's going to continue. Get some good news today and maybe you have seen that there was a recent Reuters parole poll lotteries -- today. It's the first time that we came in second in a national poll in the Republican primary. And we have to remember you know the straw is one thing there's an -- Delegates. -- yes that is rarely mix now that we know what to do by getting elegant even in -- state did him in a little confusing you know Nevada. I understand that we're going to do very well in Nevada in getting delegates. Of course tonight I've heard nothing but good stories about -- Tuesday and around and going through the process understanding the process. In voting in getting delegates so when the dust settles. I think there's a very good chance that we're gonna have the maximum number of delegates. Coming out of Minnesota. But there's there's another good news soon as an ongoing pockets in his over on the East Coast I think it's a stadium called -- -- we're doing very well there and we're gonna hear some results on on on Saturday and I think those results going to be very good as well. But I want to really thank you for the effort to end at one thing I'm convinced of those who joined the campaign for liberty and promote this cause. Really believe in something I keep thinking it must be a lot more fun believing in something then just campaigning for not playing -- -- -- That's what makes it easy going because this is what the efforts been all about. And I've been so impressed I've been involved for a long time but it's been these last several years especially since last campaigned for years ago. The world has changed dramatically and our views are not only be -- accepted they're being sought after because for so long. People at -- as long as we're -- Shia Islam as we can borrow money as long as we can print money. And people take care of as -- we won't have to worry but I guess what happened four years ago all of a sudden. Actually the bankruptcy was declared again this is the reason. Why the economy is in bad shape the world economy is in bad shape. Everybody thinks we're gonna bail them out and they think the dollar is going to bail them out. And most Americans are saying no way you can do it is no way you can keep the entitlement system and then yet. Rising -- over a trillion dollars a year. We have to challenge the entitlement system. And -- foreign policy that gives -- these perpetual wars. Their biggest problem we've had is convincing people who are in office. That they're spending too much in Washington. Today the American people are way ahead of the people in Washington. Quite frankly I think it's important to know that there's only one candidate and only one campaign. It offers real cuts. And in the first year of the new presidency he'll be act one trillion dollars -- Every -- allow people tell me they said Ron you could do a lot better -- we just change your tune on his foreign policy news. Biggest -- is that board policy that has built our campaign. Foreign policy is separate from economic policy. But we what usually happens and aids its been known in most recent history. -- foreign policy is the economic policy. Fortunately we never had to they had to fight the Soviets of course I was very much aware of the fight with the Soviets in the Cold War -- in the military in the sixties. But lo and behold the Soviet self destructive. Because they expanded themselves too far on the world they went bank robbed and fortune he would then have to fight them. And we unfortunately her face in the same problem we have extended ourselves too far around the world we've got involved in these wars are unconstitutional. They've never been declared we don't know why we're there we don't know what -- over so the most important thing a new president could do is bring our troops call. And a it would save a lot of money we don't need to save all this money to keep troops all around the world 130 countries 900 bases. I just think bringing all the troops on rather rapidly they would be spending our money Harris holly not -- South Korea -- tremendous boost the economy. You know under wartime conditions. People generally get more careless about their civil liberties and that is what's happened is this country. We have permitted our government undermine our civil liberties on the name of safety and security. But we are told and on the in this country that you should never. -- sacrifice your liberties for safety or security because you'll end up with neither is the reason I have come -- the conviction you never have. To sacrifice your liberty if you want to be safe. -- But we now are living in and -- Made for civil liberties are poorly protected we have a Patriot Act has canceled up. The Fourth Amendment. We have had a bill. We have a bill of the national defense authorization act which now. Now permits the arrest of American citizens via military. -- out of trial and put in prison indefinitely. That is not part of what America's all about and those laws have. Have to be repealed if we want to live in a true republic. Our government is too big the bigger government gets this much the smaller our liberty become government is -- -- being and that is why we're -- -- our liberties. We're losing -- economic liberties as -- are. Personal liberties. So therefore we must view is -- back now hotline that we get into this trouble. Yes there's always an appetite for big government there's always -- temptation getting something for free. And there's always the motivation -- help poor people the trouble is is once -- endorsed the principle of the redistribution of wealth. Even that you don't pretend it's gonna help the poor guess what that redistribution. Gets handed off to the rich and the ones who benefit. There are the ones who become wealthy when they get into trouble -- against the bailouts the wealthy the Wall Street -- wall streeters and the bankers. This is the reason or should be no bail outs at all. There's a simple little for a little trick that they played on us in the American people. And now is -- that -- was played on -- in the monetary system. They figured you know well yes as a wealthy country freedom produces a lot of wealth and -- was -- we can tax it people to a certain point and the people get annoyed. So but we still what you do the politicians still wants to pass out all the goodies they say we'll keep borrowing and pretty good -- -- borrowing until interest rates go up. -- high interest rates going up that's not -- the economy's that we have to have another gimmick. In -- was invented in 1913. It was made a disaster in 1971. -- that is the destruction of the currency through an illegal operation and unconstitutional. Operation. The Federal Reserve System which we should address and have a full audit. And find out where and how they're spending on. You know we get -- -- of we get into so much trouble because the constitution has been ignored whether it's going to war or. The constitution. Still says only -- -- can be legal tender. So I would say that it would be very proper urges and only people go to Washington and those who are -- hold their feet to the fire. That we want people to Obey the law the land which is that constitution. And you can't print money you can't go to war -- -- deck and without a declaration and you -- undermine our privacy. Any longer. The solution is not difficult the solution was once well known in America and that is when we understood and respected personal liberty understanding -- at liberty came as a declaration of independence indicating. It came from our creator we have a right to our life and we should we have a right to our -- we should have a right to keep. The fruits of all our labors. We have undermined it. Undermined that productive system by having too much government too much -- too much borrowing do too much. Printing -- money -- too many regulations. So the reversal is to Obey the constitution get the government out of the way he was that although -- no regulations no the regulations would be tougher. Because the people who are supposed to go bankrupt would go bankrupt -- -- wouldn't get bailed out. -- -- Thing about a free society as a prosperous society we all should be humanitarian goods and unfortunately. -- who advocate his position haven't done a very good job over the years. Because we should have convinced people that those who grabbed the moral high ground and say that we're gonna take -- the -- What do they do. Welfare is them. And inflation isn't socialism they produced the poor is only -- -- that produces the prosperity he kisses the broadest and distribution of wealth he gives is the biggest middle class in the wealthiest of middle class. That is being undermined and destroyed. And it can be the problem can be solved. By just a true understanding and conviction and the restoration. Of individual liberty. Wonderful. A wonderful thing about the principles. Of liberty is it brings people together because. Everybody won't use -- liberty in the same way. But if you understand that he would tolerate other people on how they spend -- money and how they run their lives in what they do as long as they don't hurt people. So for this reason people diversity would come together. Because they don't want -- to lose their liberty they respect other people's liberty as well. This is why this solution is not that difficult we've had -- -- experimentation. We had the greatest success we lost our faith and confidence -- that's what we need restored. We have to truly understand this and it isn't going back to the old days we don't have to go. Back to Arnold Goldstein -- -- back to those those of drizzle. We need to go back and pick up the pieces and audiences and modernize as we need in advancement of the cause of liberty -- -- understanding of liberty. This is the only solution if our -- be. Peace and prosperity. It is the only way you can achieve peace and prosperity that should be our goal it should be the goal of governments and mischief makers to run your life. To police what you do to police other people around the world. -- idea how to run your economy has -- your money is the cause of liberty that we must restore and we are well. On our way and we're gonna can -- no matter.

This transcript has been automatically generated and may not be 100% accurate.

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