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Ron Paul Interview from 1988: The American Power Structure

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Voiceover: American Power Structure. We’re joined by John Cone. Frank Morrow: Ron, there’s an old statement I’ve read heard about people saying, in Congress, that banks never lose. Ron Paul: Well, I think that’s a general statement. I think the big bankers never lose, but I think a little banker right now is losing a lot because a lot of little bankers are getting closed down; the big banks are gobbling them up. I don’t think David Rockefeller is going to lose, I don’t think he’s going to be out selling apples or pushing pencils anytime soon. But a lot of bankers that are being wiped out at the state level are losing, but the big banking power structure seems to have control because they’re on the inside and they have control of money and they know what policy is going to be down the road. Frank Morrow: Can you specify this structure that you’re talking about, this power structure? Ron Paul: Well, the power structure basically is made up of a lot of very powerful business and corporate leaders in the country, and in particular they have formed their organizations. They’ve been around for a good while and they don’t even hide it anymore, you know, the Trilateral Commission as well as the Council of Formulation. No matter what, which president which party is in power, they will appoint to the major offices members of these two committees, and they always have control of the Federal Reserve System. So the Wall Streeters, the big bankers, have inside information as far as what is happening and what’s going on. And control over money is pretty significant because if you can control money you’re really controlling one half of every single transaction, so that is a tremendous amount of power. But it doesn’t look like we’re going to have any independence. They say the Federal Reserve is independent, but that’s a bunch of nonsense. The protection that the founders gave us to try to keep us from this happening never authorized the Central Bank and they were very strict in the writing of the Constitution to limit the power of Congress to only to the minting of gold coins, to allowing only gold and silver to be legal tender, and prohibiting the printing of paper money. All those things we have failed to follow that’s why we have a Central Bank with a paper money system and a lot of inflation, high interest rates and a very, very shaky economy. So I would say that if we would have followed the advice of the founding fathers and not allow this power structure this group of elitist bankers and industrialists who get control not only of the banking system and the monetary system, but really our foreign policy and our government. I wrote a little speech and gave a speech right before I left Congress, and I said, I don’t think the members of Congress really know how little effect they have in controlling things. That means the Congress themselves doesn’t have much control to people, they don’t have much to say about it either. The control overall policy is really in the hands of a very small number of people who control all the administrations, all the appointments to cabinets and certainly all the appointments to the Federal Reserve. Frank Morrow: That shows we have a single party political system in the United States, just maybe split in two a little bit. Ron Paul: It’s a single party and if you look at the obstacles put in our way as libertarians to get on ballots, it’s an outrage because we have to spend more than a third of our energies and our monies just to apply to get on state ballots and this distracts us, some say it’s almost impossible to get on. They say, and I have not personally investigated every law all around the world, but they say that we are one of the toughest countries in the world to get a new party system, and the American people being conditioned that it’s great to have two parties. We don’t want to be like Italy where there’s all these choices, we want to live with our choices, it’s easier that way. Frank Morrow: And we don’t want to be like the Soviet Union where there’s only one party. Ron Paul: Yeah that’s right, so they have two. But if policies never change, what’s the difference? So we do have one party and this policy is never changed. You know if there would have been a difference, maybe under the Republicans we would have had a closer to a balanced budget, but the deficits were worse with the Republicans. But foreign policy, the policy of intervention, subsidizing communism and helping rich allies that always continues, Republicans and Democrats. It was the same policy, Republicans and Democrats, that supported wars like Korea and Vietnam and the CIA operations and the FBI. All of these operations were endorsed by the other two parties, but for that reason what do they do? They get control of the funding as well. The other two parties get over a hundred million dollars handed to them. You know, not too long ago we had the two conventions on national television, Republic and Democratic convention. The American people didn’t watch; they should have, they paid for it, they paid 9 million dollars. We as citizens were forced to pay to run these conventions; 9 million dollars apiece and therefore they had all this exposure making it again very difficult for an option, a third option to be heard. It’s very hard to get our message out. But the control is there whether it’s in the political control or the banking control or in government policy control in the administrations. John Cone: I want to touch if I may just on your comment a moment ago about the departing speech that you left with your colleagues in Congress, and you were there for four terms and I think are aware of the general level of awareness of your colleagues in Congress at that time. Do they really not know that all of this is going on? That the power structure is there, unseen but really manipulating the strings? Ron Paul: Most of them don’t know. Most of them are suspicious that there are, the problems are more serious that they would ever, ever admit publicly but they don’t understand the policies. I’ve had a lot of members on the banking committee come up and they ask me questions. “How does the Federal Reserve System work? What are special drawing rights? What is the IMF?” And they’ll do that quietly because they haven’t really studied it. So most of them are naive but very much aware that there’s some serious problem. If you get somebody that’s a head of a committee that’s been around for 30 years or so, I think that they know very much what’s happening They’re very much attuned to what’s happening and I don’t think they get that far, I don’t think they get to head of a committee unless they more or less have been accepted you know, by the power structure. Frank Morrow: I did a study or just a quick look a few years ago after reading the joint economic report or joint economic committee in Congress. And reading it, it looked like it came right out of the Trilateral Commission. It had all the little buzz words that the Trilateral Commission reports had, all the things that Trilateral Commission wanted, and so I looked to see if the memberships of organizations of these, the Congressmen and the Senators, and sure enough, almost every one of them are a member of Trilateral Commission, or the Bilderberger or the Council of Foreign Relations. Ron Paul: I can remember having a conversation with Barber Conable today. Frank Morrow: He’s a biggie at the power struggle. Ron Paul: He was complaining about, you know, there’s people always complaining about “Me belonging to the Trilateral Commission.” He was complaining to me and lo and behold it was Barber Conable, but as soon as he resigned from Congress, where did he end up? The head of the World Bank, you know. I left Congress, I studied the banking system, I understand something about the money, they haven’t called me to one of those appointments. I’ve been waiting at the telephone, waiting for them to appoint me. Frank Morrow: But John, you’ve studied a lot on these banking industry structure and it’s not only interlocked here but there are international interlocks, aren’t there? John Cone: Yes there are, and the ties with the foreign banking interests. We the people that settled this country and left Europe and came over here and settled down, and almost immediately the powers that be in the European continent and the money circles were reaching up those tentacles to gain control over the new country here, and that struggle has continued. We see it and who shall control our currency, they struggle back between Jefferson. As a matter of fact I have a quote from Jefferson that I think is very pertinent to our discussion here, “If the American people ever allow the banks to control the issuance of their currency, first by inflation and then by deflation the banks and corporations that will grow up around them will deprive the people of all property until their children will wake up homeless on the continent their fathers occupied.” So he warned us that far ago and here we are and what he said is coming true. Ron Paul: Yes and his side certainly won the fight back then. They got the right position in the Constitution, they had the debate over the money issue, the hard money people won, the Federalists lost, the Hamiltonians lost. But then subsequently it’s been downhill and certainly in this century. It never happens at one time you know, it isn’t all or nothing. Ron Paul: Even though we got our Central Bank in 1913, it wasn’t the total destruction of the system. It literally took from 1913 to 1971 to open up the flood gates, but it was in '71 that the last linkage to gold occurred. Of course in the 60s there was still some linkage to silver, but since '71, all you have to do was look at economic record of spending and deficits and all the economic problems and interest rates and all the price increases. I mean it’s just been totally out of control, and then even in 1980 there was another law that increased tremendously the power of the Federal Reserve System. Frank Morrow: The savings and loans.

Video Details

Duration: 9 minutes and 32 seconds
Country: United States
Language: English
Producer: markiegreg
Director: markiegreg
Views: 122
Posted by: kramerdsp on Oct 3, 2009

"Congressman Ron Paul describes the American power structure. As a member of the House Banking and Currency Committee, Paul was in a unique position to see the inner workings of economic power and control of the country, and how this power translates into political power. Paul describes how, through the control of the Federal Reserve and the banking system, the American power elite is basically out of reach of the democratic system. Concurrently, by using such organizations as the Trilateral Commission and the Council on Foreign Relations, control over the political process is maintained, resulting in what is reality in the U.S." - Markiegreg (Youtube)

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