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Presented by Thomas E. Woods, Jr. at "Depression, Monetary Destruction, and the Path to Sound Money": the Mises Circle in Greenville, South Carolina, 3 October 2009. Sponsored by Atlantic Bullion and Coin, and Professional Planning of Easley, LLC.
The subject that has brought him to prominence is the same issue that subjected him to ridicule from establishment Republicans for years: his long-standing opposition to the nation's monetary system and the Federal Reserve Board that prints money and controls its supply.
And while he was once ignored by his political antagonists at the Federal Reserve, Paul is now engaged in a very public policy debate with Fed Chair Ben Bernanke, who has criticized the Texan's legislation in speeches, interviews and an op-ed last month in the Washington Post. Asked about Paul's proposal, the chairman declared it would be “bad for markets, bad for the Fed's credibility, bad for inflation expectations and bad for the dollar.”
To a group of bankers:
"Gentlemen, I have had men watching you for a long time and I am convinced that you have used the funds of the bank to speculate in the breadstuffs of the country. When you won, you divided the profits amongst you, and when you lost, you charged it to the bank. You tell me that if I take the deposits from the bank and annul its charter, I shall ruin ten thousand families. That may be true, gentlemen, but that is your sin! Should I let you go on, you will ruin fifty thousand families, and that would be my sin! You are a den of vipers and thieves.I intend to rout you out, and by the grace of the Eternal God, will rout you out."
"The bold effort the present (central) bank had made to control the government ... are but premonitions of the fate that await the American people should they be deluded into a perpetuation of this institution or the establishment of another like it..."
"I am one of those who do not believe that a national debt is a national blessing, but rather a curse to a republic; inasmuch as it is calculated to raise around the administration a moneyed aristocracy dangerous to the liberties of the country. "