Ron Paul

Ron Paul

Dr. Ron Paul is a former member of Congress and Distinguished Counselor to the Mises Institute.

Articles by Ron Paul

We Need a Peace President

Most people agree that we are closer to nuclear war than at any time since the 1962 Cuban Missile Crisis. Some would even argue that we are closer now than we were in those fateful days, when Soviet missiles in Cuba almost triggered a nuclear war between the US and the USSR.
In those days we were told that we were in a life-or-death struggle with Communism and thus could not cede a square foot of territory or the dominoes would fall one-by-one until the “Reds” ruled over us.
That crisis was very real to me, as I was drafted into the military in the middle of the US/USSR standoff over Cuba and we could all feel how close we were to annihilation.
Fortunately, we had a president in the White House at the time who understood the dangers of nuclear brinkmanship. Even though he was surrounded by

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NATO’s Great New Idea: “Let’s Start a War with China!”

ATO’s post–Cold War history is that of an organization far past its “sell-by” date. Desperate for a mission after the end of the Warsaw Pact, NATO in the late 1990s decided that it would become the muscle behind the militarization of “human rights” under the Clinton Administration.
Gone was the “threat of global communism” which was used to justify NATO’s 40-year run, so NATO re-imagined itself as a band of armed Atlanticist superheroes. Wherever there was an “injustice” (as defined by Washington’s neocons), NATO was ready with guns and bombs.
The US military-industrial complex could not have been happier. All the Beltway think tanks they lavishly fund finally hit on a sure winner to keep the money pipeline flowing. It was always about money, not security.
The test run for NATO as human

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Congress Ignores Real Debt Ceiling Drama

Last week the House passed legislation increasing the debt ceiling. The bill was supported by all but four Republicans. For some Republicans, this was the first time they had ever voted for a debt ceiling increase. Perhaps the reason they did so this time was because the legislation also promised to reduce federal spending by $4.5 trillion over the next decade. Most of those spending reductions are achieved by rolling back Fiscal Year spending to 2022 levels and then limiting increases in spending to one percent for the next ten years. The bill also returns unspent COVID relief money to the US Treasury and eliminates President Biden’s student loan forgiveness programs.
Perhaps the most significant part of the bill is the REINS Act. This legislation requires congressional approval of any

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Peace is Breaking Out in the Middle East…and Washington is Not Happy!

While we were being distracted by the ongoing Russia/Ukraine war – and Washington’s increasing involvement in the war – tremendous developments in the Middle East have all but ended decades of US meddling in the region. Peace is breaking out in the Middle East and Washington is not at all happy about it!
Take, for example, the recent mending of relations between Saudi Arabia and formerly bitter adversaries Iran and Syria. A China-brokered deal between the Saudis and Iran has them re-establishing full diplomatic relations, with the foreign ministers of both countries meeting in Beijing last week. It is the highest level meeting between the two countries in seven years.
Additionally, Riyadh is expected to invite Syria back into the Arab League and Syrian president Assad may attend the next

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Are Bank Failures a Sign of More Trouble Ahead?

The failure of Silicon Valley Bank (SVB) on March 10 was the second largest bank failure in US history. Just two days following SVB’s collapse, Signature Bank joined the record books as the third largest bank failure in US history. First Republic Bank also seemed on the edge of collapse until Bank of America, Citigroup, and other big banks agreed to jointly fund a bailout for it.
Major Swiss bank Credit Suisse was also teetering on the brink when it received a 54 billion dollars line of credit from the Swiss UBS Group last week. Now, UBS is in the process of buying Credit Suisse. Politicians, regulators, and financial “experts” all rushed to assure us these problems were all caused by factors unique to the individual banks and were not a sign of a systemic weakness in the banking system.

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Respect the Fed? No, End the Fed

President Joe Biden has unveiled a three-part plan to fight inflation — or at least make people think he is fighting inflation. One part of the plan involves having government agencies “fix” the supply chain problems that have led to shortages of numerous products.

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Taking Back Our Liberty in 2022

For those of us who value liberty, these past two years have been a bad dream. It seems like we fell asleep in early 2020 and woke up in 1984! They said that if we just put on a mask and stayed home for two weeks, we’d be able to return to normal. The two weeks came and went and instead of going back to normal they added more restrictions.

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Fauci on Your Phone?

If the Senate follows the House of Representatives’s lead and passes the Immunization Infrastructure Modernization Act (HR 550), Americans who do not get the recommended number of covid vaccines can look forward to receiving a text like this: “This is Dr. Anthony Fauci. According to government records you have not yet received your monthly covid booster shot. Until you prove you are following vaccine protocols, your vaccine passport will be revoked, resulting in loss of your privilege to work, worship, and visit your family.”
According to the bill’s chief sponsor, New Hampshire Representative Ann Kuster, HR 550 will “bolster and quicken our nationwide vaccine rollout” by “improv[ing] and expand[ing] information-sharing between state and federal governments, as well as public and private

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No, Conservatives Should Not Embrace MMT

Reading Jonathan Culbreath’s “Modern Monetary Theory for Conservatives” one can’t help but think of Murray Rothbard’s quip that “it is not a crime to be ignorant of economics … but it is totally irresponsible to have a loud and vociferous opinion on economic subjects while remaining in this state of ignorance.“
Culbreath’s case for modern monetary theory (MMT) rests on an ignorance of basic economic principles regarding the role of money in a free market economy. Money—whether precious metals, fiat currency, crypto, or some other good—is more than the unit of account that makes exchange possible. Money is also a key part of the equation of the price system, which allows market participants to discover the highest use of goods and services as determined by the demonstrated preferences

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