Paul's Principles Are Guided by Constitution

0 Comments | Insight on the News, Sept 3, 2001 | by Hans S. Nichols

Insight: What do you mean by the monetary system?

RP: When a country defaces its currency -- that is, prints money -- the money in circulation has less value. But everybody doesn't suffer equally. If I'm on Wall Street and shrewd, I can take that extra credit and become a millionaire or billionaire. At the same time, the guy who's working for a living, doesn't have health insurance, isn't on welfare and has a low-paying job is told by the government there's no inflation. Then he gets a repair bill, a doctor's bill, an education bill -- and suffers a 15 percent cost-of-living increase as a result of inflation of the money supply. He is being treated unfairly. That, to me, is a much bigger consumer issue than anybody seems willing to talk about.

Personal Bios

Rep. Ron Paul: The 1988 Libertarian Party presidential candidate on the stump.

Currently: U.S. representative for Texas' 14th District, a large area along the Gulf Coast south of Houston and inland toward Austin and San Antonio. Seventh term.

Born: Aug. 20, 1935, in Pittsburgh, Pa.

Family: Wife, Carol; five children; 15 grandchildren.

Education: Gettysburg College, B.A.; Duke University Medical School, M.D.

Career: Flight surgeon, U.S. Air Force, 1963-68; obstetrician, Brazoria County, Texas; first elected to Congress, 1976; Libertarian candidate for U.S. president, 1988; re-elected to Congress, 1996.

Awards: Taxpayers' Best Friend award, American Taxpayers' Union; Groseclose Prize and Leadership Award, Ludwig von Mises Institute.

Congressional committees: House Financial Services and International Relations committees.