Dave Gonigam

“Our Constitution, which was intended to limit government power and abuse, has failed,” declared Rep. Ron Paul.

The good doctor delivered his valedictory speech on the floor of the House Wednesday afternoon. At first, the Republican House leadership — in a final, spiteful attempt to shut him up — could not find room in the schedule.

Then President Obama decided to hold his first press conference in God-knows-when… and the powers-that-be decided it was safe to let Dr. Paul speak at the same time. He’d only be on C-SPAN. The cable news channels wouldn’t “dip into” his speech as a “Developing Story” and expose his message to the masses.

Of course, in the Internet age, the message got out anyway. Right-wingers like Drudge and lefty sites like Raw Story both thought it newsworthy.

“One needn’t agree,” wrote Conor Friedersdorf at The Atlantic, “with the premise of every question [that he posed] to conclude that the United States — and especially its most unjustly treated citizens — would be better off if more legislators were grappling with them.”

After the speech, Dr. Paul repaired to his office… and a meeting with Addison.

Ron Paul is retiring from Congress… but not from the public eye. He will deliver lectures on college campuses. And he’s talking with Addison about how to creatively counter Federal Reserve propaganda.

“Next year marks the centennial anniversary of the Federal Reserve Act,” Addison reminds us. Expect a barrage of messages to the effect that were it not for the brilliance and munificence of the Fed, we’d still be communicating in Morse code, getting from place to place on horseback and transacting business with a gold-backed currency. Perish the thought.

“To this day,” Addison says, “most people don’t know anything about the Fed, how it was created or what it does, if they are aware of its existence at all.” There’s a cottage industry of Fed criticism… but it’s overwhelmed with economic crankery – e.g., films like Zeitgeist.

With that in mind, Addison met with Dr. Paul Wednesday afternoon to kick around a few ideas about how to raise awareness. Joining them were a few other folks in our circle, including Laissez Faire Books’ Jeffrey Tucker – who conducted a brief interview

“I think interest rates will go up,” Dr. Paul told Jeffrey, “but it won’t be because Bernanke decided they’ll go up. They’ll go up because the market has decided we need a little inflation protection… or foreigners won’t buy as much debt.”

The interview also touches on the feds’ growing and ominous “war on cash”. Click on the image below to watch the whole thing…

Jeffrey Tucker and Ron Paul

Who knows what these musings might lead to? But whatever it is, we’ll keep you posted as the Fed centenary infects the public consciousness over the next 12 months.

Dave Gonigam

Dave Gonigam has been managing editor of The 5 Min. Forecast since September 2010. Before joining the research and writing team at Agora Financial in 2007, he worked for 20 years as an Emmy award-winning television news producer.

Recent Articles

All Eyes On Greece

Puru Saxena

Puru Saxena explores Greece’s referendum, which will determine whether or not the nation accepts its creditors’ austerity measures...


My Conversation With Ben Bernanke

James Rickards

Jim Rickards sat down one-on-one with Ben Bernanke on May 27th. Read on to listen in on their conversation and learn why “the international monetary system is not coherent”...


One Last Ditch Effort To Agree

Chuck Butler

Chuck Butler discusses the stimulus in China and what he sees are the differences, plus details as Greece arrives in Brussels with their latest proposal for an agreement. All that and more in today's Daily Pfennig...


Rick Rule: Some of the Best Oil Plays Are in “Midstream” Stocks

Henry Bonner

With the oil sector cruising in low gear since last year’s price collapse, should you be investing in oil companies? Yes, according to our friends at Sprott, Henry and Rick — especially if you look at mid-stream companies, which move oil from point A to point B. Since oil moves no matter the price, they make money no matter the price!