Friday, August 15, 2014

The Event that Launched My Political Career

-Ron Paul
On August 15, 1971, I was listening to the TV, and Nixon made the announcement about closing the gold window and imposing wage and price controls and a tariff, which economically, I thought this was just horrendous and astounding.

We couldn’t honor our commitment to the foreign holders of dollars. So I thought this was very big. Yet at that time, the immediate reaction was euphoria.

If the business community can respond in glee over this announcement that we’re literally bankrupt, we’re going to default; then we’re in worse shape than I thought.

So, it became evident that the country was oblivious to the importance of money and the Federal Reserve, I thought: well, what the heck, I’m gonna talk about it because it sounded to me like an interesting subject. Not that I want a political career, because I had a good medical practice.

It was that time when my wife warned me about the danger of this adventure that I was on. She said it was dangerous. I said: why’s that? And she said: well, you could end up getting elected. And I said: no way. For my speeches and what I’m going to promise, that’s not the way you get elected to Congress or anything, because the money was the issue for me.