Page 8

Page 8 — THE CONWAY DAILY SUN, Thursday, July 7, 2011

PAUL from page one

"Look at the coalition I've built with (auditing) the Federal Reserve," said Paul, referring to a Fed audit that was put in the Dodd-Frank financial reform package. "Nobody cared about it before. Now it's a bipartisan issue. It could well be the big issue next year because we're going to have a lot of inflation. The blame is going to be placed on the Fed where it deserves to be put. Like 80 percent of the people say we should audit the Federal Reserve, that's fantastic!" Paul received a warm welcome when he stopped at the Conway Cafe and the Eaton Village Store. People in both locations seemed most interested in the economy and the wars in the Middle East. "Ron Paul is the only candidate on stage telling us monetary policy is the root cause of a lot of unemployment," said Shane McKinney of Conway. Richard and Kathie Sacco, of Ossipee, have been Paul enthusiasts for 25 years, and they met Paul for the first time at the Conway Cafe. They described him as down to earth. "He's one of the squarest shooters in the Congress," said Richard Sacco. Since 2008, the Federal Reserve has tripled the money supply, according to Paul. As the money supply increases, the value of each dollar decreases. Currently, money is tied up in bank reserves but high prices will follow once the money breaks loose. "Prices don't go up; it's the value of the dollar that goes down," said Paul. "The thing people will recognize is there will be higher prices and interest rates will go up." A weak currency and onerous regulations have repelled capital from this country, Paul said. Even China is being a "better capitalist" than the United State because it keeps taxes and regulations down, invests money, and doesn't start wars. The middle class will be hurt the most by the dollar's decline, said Paul. "Their savings get wiped out, the very wealthy protect themselves and when they get in trouble they get the bailouts," said Paul. "It's a rotten system. It's not capitalism, its crony capitalism." As for the three changes he'd most like to make, • Mount & Balance

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Riding with Ron Paul BY DAYMOND STEER THE CONWAY DAILY SUN

CONWAY — A Conway Daily Sun reporter traveled with presidential candidate Ron Paul as he made the trip from Conway to Eaton during a recent campaign visit. Here are highlights in the conversation with the 12-term congressman from Texas: CDS: How do you feel about growing inequality gap in the United States? Paul: It's very serious. That's what's going to precipitate a lot of dissension with the people. People resent the fact the rich get richer and the poor get poorer. Some people blame free enterprise for that and I don't. When you have real free enterprise, the rich get richer but a lot of poor people do too. When you have an inflationary system where you are debasing the currency, there's a tendency to transfer the wealth to the wealthy because whoever gets to use the money first gets the best deal. When the money circulates the value goes down and prices go up. see RIDE page 11

Paul responded his number one issue is to change foreign policy. The president has control of where the troops are. Paul would rather spend the money at home than setting up bases and wars overseas. The second thing is he'd do is stop using executive orders as a means to legislate. That would improve the climate for business. The third thing he'd do is overhaul the monetary system so the Federal Reserve would have competition. He'd also like to get rid of the income tax. Paul stressed that he couldn't do all of these things himself because the president isn't a dictator. Since the Federal Reserve was created in 1913, U.S. wealth has been illusion-based on borrowed money and inflation, Paul said. Now, that's ending.

Real economic growth is different. For example, he said, this nation would have spent more money on education and less on bombs if the Federal Reserve didn't exist. In the long term, Paul would like to get rid of entitlements for the elderly and children because those entitlements going to fail anyway. But Paul said he'd like to see entitlements end gradually so that people can find better ways to deliver those services. "They are all bankrupt," said Paul. "The wars will end, we will come home because we will be broke. The entitlement system won't work because the money won't work." The editorial board at The Conway Daily Sun pressed Paul about the late 19th century when government social programs were nonexistent and the rich lived in extravagant luxury. Staff members wondered if that's what Paul wanted. In response, Paul said most people's quality life improved during the Gilded Age. Big business owners got wealthy by driving prices down and allowing consumers to purchase their products. But there were problems too. Government and the railroad giants did get too cozy. "Child labor disappeared because of the progress. If you lived on a farm in the old days, everyone had to hoe the garden," said Paul. "But when they got a tractor, kids didn't have to slave from morning to midnight." Paul would also like to eliminate government bureaucracies such as the Department of Agriculture and Department of Energy, which he says just serve special interest. The Sun staff also questioned if his small government views would be bad for the environment. Publisher Mark Guerringue said the Mount Washington Valley was strip logged in the 1800s. Then the government created the White Mountain National forest and the trees have come back. But Paul said there are instances where private owners take better care of their land. In addition, property rights would be better protected in a free market system. "In a free market you have no right to pollute," see PAUL page 10

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The Conway Daily Sun, Thursday, July 7, 2011  

The Conway Daily Sun, Thursday, July 7, 2011

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