Ron Paul Creating Quotations

First reason is, it's not authorized in the Constitution, it's an illegal institution. The second reason, it's an immoral institution, because we have delivered to a secretive body the privilege of creating money out of thin air; if you or I did it, we'd be called counterfeiters, so why have we legalized counterfeiting? But the economic reasons are overwhelming: the Federal Reserve is the creature that destroys value.

The most sinister of all taxes is the inflation tax and it is the most regressive. It hits the poor and the middle class. When you destroy a currency by creating money out of thin air to pay the bills, the value of the dollar goes down, and people get hit with a higher cost of living. It’s the middle class that’s being wiped out. It is most evil of all taxes.

The Congress should not be creating money out of thin air, which is what Lincoln did when he created greenbacks. But it is a congressional responsibility to maintain gold and silver as a legal tender.

Too many members of Congress believe they can solve all economic problems, cure all social ills, and bring about worldwide peace and prosperity simply by creating new federal programs.

September 11th does not justify ignoring the Constitution by creating broad new federal police powers. The rule of law is worthless if we ignore it whenever crises occur.