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-- -- -- Good afternoon everyone it's 2 o'clock in the east eleven out west and the liberty power our resign.
Welcome to a brand -- -- episode of freedom watch streaming live from a highly acclaimed strategy room on foxnews.com.
I'm judge entered a -- channel your hosts will discuss the issues that profoundly affect your freedom your civil liberties your financial liberties.
You're right to have a government that stays within the confines of the constitution.
-- another excellent lineup for you today.
Including of course congressman Ron Paul Daniel and -- Lew -- Thomas woods Bradley Balco.
And -- -- I encourage you to be part of the show Shelley as you know is always on hand when you can see her or not.
So start sending your tweed sent emails to -- right now your comments will help us shape a conversation.
Throughout the show will also be live once again on the Fox News Channel and just about fifteen minutes -- make sure to turn on your TV.
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But right now it's my great pleasure to introduce one of the world's great defenders.
Of human liberty certainly the greatest -- -- human liberty.
In congress today congressman Ron Paul he joins us from the -- and Rhode -- That's that -- one of the house office buildings congressman Paul always a pleasure my favorite part of the week welcome back of freedom watch.
-- -- Since we spoke last.
Which was just a week ago.
The federal government has announced a commitment.
Of another thirty billion dollars.
To bail out a -- automobile industry.
To bail out of failing automobile manufacturing that we give it to our world talking about Chrysler now its General Motors.
Where does this and what can anybody a member of congress.
The millions of concerned citizens about their financial future due to stop this.
Unfortunately I'm not very optimistic that congress is going to wake up and stop and I think the move toward nationalization of socialization of all our economy.
Is uncontrollable right now you know we already put twenty billion and now there's an additional thirty billion that's a mere fifty billion.
But can you imagine what's going to be like.
When the government runs General Motors you think they're gonna make a profit.
There's not a chance in the world for that have been around like -- -- the post office they always need additional -- what about Amtrak dad -- Amtrak make much profit that we.
Who do we put more money into the treasury because we -- the railroad.
Now it's a drain.
-- this is going to be entering it just ruins the whole concept of a market economy.
The worst thing in the world that we can the bailout is preposterous it's not -- -- the by bankruptcy process was preposterous it wasn't really.
The normal bankruptcy it was a political.
Bankruptcy as -- Joe -- and bankruptcy court a year ago we've been all over and -- good assets would have been bought out the bad assets would have been wiped off the books and when it cost the taxpayer one -- Here we are fifty billion dollars and before it's however it's going to be meaningful -- and now.
Bush left the presidency.
He specifically ask the congress for authorization to give -- the General Motors.
The House of Representatives.
Over your objection.
And despite your articulate arguments against it.
Authorized alone a fourteen million senate never took a -- -- the Senate never authorized anything.
That on his own pursuant to so called authority given them under the TARP legislation.
He authorized -- then secretary of the treasury alone seventeen billion to GM.
I think you're right I think it would have been better in the long run had he not started this ball rolling and hagee and declared bankruptcy before the -- even gave the month.
Yeah I I think selling and you know as a Republican -- not supposed to attack Republicans but the principal was well put in.
Place -- with the last administration.
You know if you give one billion dollars in bail -- and you set the stage and then later on you appropriate 49 billion dollars more.
That principle was endorsed by the Republicans -- you know in the last administration so that is why it's so important to deal with this in precise principles.
Because that you give.
Just -- to open up the crack in the door.
This is what happens it's expected that the crack in the door now is that we can nationalize anytime -- company's gets -- trouble so it's going to go on and on they'll be other companies in other industries I mean that would do we own insurance companies that we own the banks.
And it seems like the American people either they don't know or they don't here -- there hoodwinked into this into the propaganda just like they get could win.
Hoodwinked into the propaganda going to war is just on and on them.
And that's why your program is so important -- trying to wake people up to the reality of what's going on and know the truth of what is he has so that we can get.
You know get our senses back and maybe once again.
They you know was this a constitutional provision that we were able to do this do we do this on the rule of law and of course we don't we don't follow the constitution.
We do what we want that we spend money and -- -- and that is why we can expect.
This crisis to be magnified we we are turning this financial crisis into a currency crisis and that he's coming within the next year -- two is my estimation.
Ask you about today HR twelve -- seven and a minute but before I do it it's funny you mention Amtrak.
We we did a little research yesterday there is a quote from President Nixon.
Or someone in his behalf in the White House in 1970.
Don't worry that were nationalized saying the Pennsylvania railroad and the New York's Central Railroad this is only going to be for about three years.
In three years they'll be profitable -- we'll sell them to investors and everybody will be happy.
And of course we I don't know what happened that's forty years ago we still on Amtrak.
And we -- have poured billions into them but but my question is this.
Do we become so in -- -- to this.
That we forget what's happening do we take for granted that Amtrak is there and forget that it's a drain on the economy and the and they treasury.
And forget that was only supposed to be a temporary -- -- Sure they will for -- If they get a little bit of benefits from a no matter how much we lose they would like to forget and -- address it and that's what happens.
But that's why it won't end until the currency crisis comes in in the country is declared totally bankrupt just think of the difference in attitude compared to.
How the courts ruled with Truman taking over the steel mills in the early 1950s.
Least there were a few people say hey is he supposed to do this does he have the right to resist authority -- -- -- the course of course is this is unconstitutional.
Now nobody gonna question it's gonna -- you think we're going to go to the court -- asked whether it was constitutional.
To -- I got General Motors.
Yes it's not going to happen that's how seriously.
We have flawed and drifted from the original intent of the constitution.
And that's why is so important for us to wake up because in the midst of the financial crisis believe me the people we have in Washington now will do exactly what they're doing.
They will want more government more regulations and -- talking about the super regulator who's going to be international.
I am now they want another international currency to solve the problem of the dollar.
With the international currency so they're moving in the wrong direction.
That's why we're in a real desperate struggle now -- Does -- congress people do members of congress even big government types in both parties take umbrage.
When the president does these things on his -- Without even arguably any specific legislation authorizing it -- you and I believe that such legislation would be unconstitutional.
But what -- do they get mad when he doesn't even bother to ask mortgages does the thought his own.
Now they never they may never -- -- -- I just try to justify their own mind hand that pragmatism rules well.
It would be so much worse if -- the if you had deflation and you know it is scary that will give -- depression and and all these things that they scare the people I fear is that from is a powerful weapon that politicians always used both in foreign policy and economic policy.
Build up fear.
And then the people get scared and if you don't go along with the government you become unpatriotic un American and the idea that you're not a strict constitutional us.
This isn't really of any importance they turned it around say well if you're strict constitutional if you don't care about the people you don't care about helping people and sorting out the problem.
We have a little treat coming for you it congressman -- we're going to be Simon cast.
On the Fox News Channel my colleague Trace Gallagher Fox News is in a commercial break at the moment -- we'll be going live with them.
In just a moment as Trace Gallagher and his crew.
From live desk -- have moved into our studios and so I do remind.
Everyone watching us on freedom watch on the strategy room on foxnews.com.
If you're near -- television turn it on.
The Fox News Channel because you'll be able to see believe it or not to judge them prompt analysts to Ron Paul's until traits and -- -- Watch it what it is -- let -- be -- I and we're gonna it's a great conversation you're having with Ron Paul right now we're gonna jump in on this that and mr.
Paul thank you very much for being here the question that I have judge we're gonna go over this war grade is about which you sent me in the talking points that you've talked about this the fact that.
That Amtrak -- Nixon.
Thirty years ago is that yet it might lose money for a couple years and that they'll be self sustainable thirty years later you know I don't you I gave.
That that -- to my producer George Simpson said it was LBJ in the -- -- went crazy I can't salvage a thing as I forgot it was 1970.
Because I thought this was done under a Democrat and a pretty 68.
It was done by Republican administration and a democratic congress that forced the railroads to merge and New York's central and Pennsylvania -- Arabic and Penn central and Richard Nixon said President Nixon it's only going to list three years don't worry about it.
That will sell it and -- make money on the deal about what happened the government's -- Amtrak at a loss every year for forty years.
We're gonna talk about that and you've got to go back here oh I -- does lap dancer but -- -- want to get back against very quickly -- that will will continue on its okay yeah okay absolutely.
Congressman -- I gotta tell you that I was scandalized to see these handwritten notes I don't know whose votes they are whether it's senator Grassley yours senator Shelby.
Claiming that they're making it stronger and precise.
But guiding this is your bill to audit the -- -- to be -- up here because and they want to limit the bad way to audits of something -- upon all already -- the hawks on Iran on their talking about nationalization.
That's the whole year we were just talking the judge about this and I hate in Europe they know that congressman -- is about to jump in here but judgment is not.
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