Texas Straight Talk
A weekly column
- July 21, 2008: Faith-Based Currency
- The Latin term “fiat” roughly translates to “there shall be”. When we refer to fiat money, we are referring to money that exists because the government declares it into existence. It is not based on production or earnings, and not backed by any commodity. It is solely based on trusting the government. Fiat money is exchanged in the economy as long as there is faith in the government that issues it. Some are blaming the recent shakeup in the markets to “whining” or financial fear-mongering, which misses the whole point. History has shown that fiat money, or “faith-based …
Speeches and Statements
- July 16, 2008 Statement on Humphrey Hawkins Hearing
- "Mr. Chairman, today we find ourselves on the verge of an economic crisis the likes of which the United States has not seen in decades. Our economy is very clearly in a recession, and every time someone tells us that the worst has passed, another serious event takes place, as we saw once again last week and early this week..."
Press Releases
- July 22, 2008: Hearing on Oil Prices and the Dollar Scheduled
- “Last month Congressman Ron Paul, ranking member of the Subcommittee on Domestic and International Monetary Policy called for a hearing on the relationship between the falling value of the dollar and the recent rise of oil prices..."
Hear Congressman Paul's weekly legislative update toll free
888-322-1414
Watch Congressman Paul Online
Get Flash to see this player.
July 10, 2008: Congressman Paul on Iran and H Con Res 362
June 26, 2008: Congressman Paul on Iran
March 12, 2008: Congressman Paul on
the Budget and Monetary Policy