An Interview with Ron Paul


Doug Casey: Why would the typical American, who gets far more from government than he or she pays, even consider voting for Ron Paul?

Ron Paul: Even those Americans who receive a higher nominal amount in transfer payments than they pay in income taxes suffer from Big Government. Their standard of living is eroded by inflation, their wages are garnished by income and payroll taxes, their civil liberties are under constant assault, and their economic prospects are limited because of the drag the welfare-warfare state places on the economy. Furthermore, unless we reverse course quickly, future generations will suffer a declining standard of living and loss of liberty. Thus, I expect many Americans to vote for me not only out of concern for their own well-being, but out of concern for their children.

Doug Casey: What is your outlook for the U.S. dollar, absent any significant change in the current course of things?

Ron Paul: Unless we return to a sensible monetary policy and rein in government spending, I expect the value of the dollar to continue to fall.

Doug Casey: Do you think we could see currency or capital controls being implemented?

Ron Paul: History shows that governments tend to react to economic crises by increasing government control over the free market, so, yes, it is quite possible that the U.S. Government will respond to a future economic downturn with currency and capital controls.

Doug Casey: We have seen the other presidential candidates perform all sorts of linguistic gymnastics when asked how they would handle the looming fiscal problems of Social Security and Medicare. While the solutions will obviously not be quick or easy, where would you start?

Ron Paul: I would transfer some of the money saved by my cuts in foreign programs and unconstitutional domestic bureaucracies into the entitlements programs to keep the promises to those relying on the system. I would then work to transition to a market system, phasing in an option for younger workers to opt out of Social Security and Medicare taxes in return for agreeing to provide for their own retirement and health care needs without participating in a government entitlement program.

Doug Casey: Further on domestic issues, just what do you think the role of the federal government should be?

Ron Paul: Ideally, it should be limited to providing protection from foreign threats, securing the borders and ensuring free trade among the states.

Doug Casey: By what % would you estimate that federal government spending could be cut without causing any great hardship? Which agencies would you cut first?

Ron Paul: I don’t have an exact percentage, but I am confident that if the welfare state were cut, along with a corresponding reduction in taxes, private charities would quickly step up to help the truly needy – and do so in a much more effective and compassionate way than government bureaucracies. I would cut the Iraq war, foreign aid and all foreign commitments immediately. Domestically, I would work to shut down the Departments of Education, Energy, and Commerce. I would also work to eliminate all forms of corporate welfare and business subsidies.

Doug Casey: Any idea how much of the total federal debt could be paid off if the government sold all the land, buildings, equipment and other assets it doesn’t need for activities authorized by the Constitution?

Ron Paul: I do not have an estimate on that, but it is definitely something I would pursue.

Doug Casey: There is much talk about the Chinese deliberately keeping their currency cheap in order to undercut U.S. and European manufacturers. And we are increasingly hearing discussions about layering on more tariffs aimed at the Chinese. We assume you are anti-tariff, so do you do anything at all about “unfair” competition or just let the global marketplace sort things out over time?

Ron Paul: The United States does not have the authority to tell China, or any other country, what to do with their currencies. The values of currencies should be set by the market. Instead of worrying about the speck in China’s eye, I would focus on the beam in our eye by reducing the national debt, restoring a market in currency by repealing the legal tender laws and ending the continued debasement of the American currency.

Doug Casey: Much of the politicking this campaign season has certain religious overtones. Are you a believer in a strict separation of church and state?

Ron Paul: Yes. However, I believe state and local communities have the right to adopt policies such as school prayer without interference from the Federal Judiciary or any other branch of the federal government.

Editor’s Note: If you like what you read, then check out Ron Paul’s web site.

For more on Doug Casey’s International Speculator

Doug Casey and Ron Paul recently joined forces to debate Larry Abraham and Dinesh D’Souza. You can view the debate by following this link.

The Daily Reckoning
The Daily Reckoning offers an independent and critical perspective on the Australian and global investment markets. Slightly offbeat and far from institutional, The Daily Reckoning delivers you straight-forward, humorous, and useful investment insights from a world wide network of analysts, contrarians, and successful investors. Founded in 1999, The Daily Reckoning is published in 7 countries with a worldwide readership of almost 1 million people.


  1. Ron Paul makes perfect sense. However, were he to be elected, he would be immediately assassinated by the real rulers of this country (and the world)–the bankers. The Fed is “owned” by many banks and bankers not from the US; the Fed or its backers probably killed Kennedy because he was out to kill the Fed; and the Fed will kill anyone who gets in their way. In a rational world, Paul would be great; in a world dominated by the rich, who see the non-rich as cannon fodder or grunt workers, Paul is just a “superman” comic story.

  2. Good interview… and Dayahka, your comment is well written.
    I think a foreign policy of peace and freedom may actually take hold and spread across the world. In fact it already has. It may be a an uphill battle against the global elite banking families. I trust that there is still hope in America and the rest of the world for that matter. Rope Paul is truly a shining star on this voyage. Go Ron!

  3. Dayahka, I agree with you and dare says that Dr. Paul would agree with you.

    However, the powerful combination of uninformed / misinformed voters, controlled media and a flawed voting system are likely to prevent this from being required.

    On a positive note, if you consider Ron Paul’s campaign as a means of educating the mainstream about issues that the corporate media and other politicians dare not mention, he and his supporters are doing a damn fine job considering what they are up against.

  4. ron paul is in the same situation as pauline hanson of australia.a serious threat to the status quo wich will not be allowed to be anything more than entertainment.killed or jailed if thats what it takes.until the majority realise that the controllers are not elected, and the politicians are also servants, things will not change.

  5. All we have to do is 1. register as a republican and 2. go and actually vote. Not too hard and I think we can do it.

  6. Milkijuana?
    Commentary by John Wind Bell for
    “Say No to Raw Milk,” will be the popular chant. “This is your brain on Raw Milk,” will be on the TV screen. “It’s a gateway drink,” someone will be sure to preach from their pulpit.

    Image courtesy:

    (EPHRATA, Pa.) – Granted, it’s a bit of a stretch, but not that much. Bear with me now.

    There is already a fear associated with raw milk that’s been planted in peoples’ heads, no matter how safe the milk business was before pasteurization. I have relatives that are still alive who were in the milk business before and after this new heating process. We’ve talked about it on numerous occasions throughout my life, always concluding that the only reason they used this process is so it could sit on the shelves longer, not spoil and be sold in the grocery store.

    “And it ain’t any better for ya than colored water,” my great uncle has said. His family owned Lankerbrook Dairy at one time. I think he has a chip on his shoulder, after all these years, he loved being a milk man.

    So yes, I admit it, out of necessity he and I and others in our family, as well as others in this country, have a connection. We deal in the ‘black market,’ so to speak. It is our drink of choice. We joke about it. It’s our family secret. Some times before I leave for my weekly ’score,’ I’ll first look out the peep-hole of my front door for any suspicious cars with darkly tinted windows. I’ll take a different rout every week to my raw milk supplier, whom I’ll call Joseph.

    No, I don’t have to see him under a cloak of darkness. No, I don’t have to call a number or leave a text code on his cell phone before I pick it up. He doesn’t have a phone. No I don’t have to send him an email, he has no PC. Nor do I have to meet him at an undisclosed location. He doesn’t have a car. Nor does he have to be in disguise, but he sure looks like he is. He’s Amish, and there’s just one day he won’t do business on his farm – Sunday. And there’s only one guarantee he offers – his family drinks the same. Mind you, I’ve never seen a healthier family. This is the only example and FDA seal of approval that I need to observe.

    What I don’t need is some fat fast-food infested bureaucrat telling me what is good for me and what I’m permitted to consume. And thank goodness, after drinking it a person doesn’t feel the slightest bit euphoric from his raw milk. But if they did, you bet your Oreos there would be a Raw Milk Czar in the White House.

    The FBI would come down hard on the dairy farm like stink on cow patties. They’d confiscate cows, if not just slaughter them, and render the milking machine as well as all the containers and drinking glasses, now classified as paraphernalia. And it wouldn’t matter in the slightest the non-lethal history of this drink, the health benefits, and it being as God intended it. The milk, butter, cheese, and probably the eggs too, all dairy products will be destroyed under the guise of political correctness. “It’s the right thing to do.” “The message for the children.” “It’s a Raw Milk War!”

    Dear reader, as far as I know there isn’t anybody doing prison time for possession with intent to distribute unpasteurized milk. Or any comedian that’s been indicted for selling milk bottles on the Internet. Or any Canadians that are going to be extradited for selling baby cows on their web page. But you mark my word it’s right around the corner, give “them” time. And why not? “They’ve” gotten away with so much before this, brain washing people to believe their agenda, not the truth.

    Story continues below

    The politician will soon have Raw Milk on their platform. Raw Milk will give the First Lady and her husband something to do with their royal time. An answer for them so they can start looking important and busy. Another scare tactic, another make-work project for them to fix the unbroken.

    “Say No to Raw Milk,” will be the popular chant. “This is your brain on Raw Milk,” will be on the TV screen. “It’s a gateway drink,” someone will be sure to preach from their pulpit. “It’s stronger now than what it was in the sixties,” a teacher will recite to your students in a M.A.R.E. program. “Beware of the Raw Milk pusher.” “Raw Milk will make you go nuts and be violent.” “There will be Raw Milk gangs.” “Raw Milk will make men’s breast grow and your children deformed.”

    And no there are not, as yet, police officers setting up road blocks and check points in your home town on weekends and holidays with breathalyzers and pupilometers in hand and at the ready to catch the Raw Milk Heads. But hey, in retrospect who would have ever thought our government would have their hands stuck in all that they do these days. And, oh yeah, the Constitution, remember that Holy Paper?

    The once safeguard of logic and compassion written to protect the common folk against such governmental unruliness; means close to nothing now. There’s no telling when this cancer on our libertys will stop growing. When the people will finally revolt in the streets again as we had to do only a few hundred years ago.

    Next there will be a Boston Milk Party where unhappy patriots and farmers will toss jugs of milk overboard in protest, singing, “no pasteurization without representation.” Maybe the last straw will be this: in an effort to make it sound worse than what it is, the name Raw Milk will be changed to ‘Milkijuana.’

    You can email John Wind Bell at

    John Wind Bell
    December 21, 2007

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