A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

Meaning of the quote

In a capitalist system, the money used should be real and stable, not created by the government's central bank. Capitalism values agreements made freely between people, and interest rates should be based on how much people save, not on how much credit the central bank creates.

About Ron Paul

Ron Paul is a former U.S. Congressman, presidential candidate, and prominent libertarian figure. He is known for his criticism of the federal government, the Federal Reserve, and interventionist policies. Ron Paul has had a long and influential career in American politics, running for president three times and inspiring the Tea Party movement.

More about the author

More quotes from Ron Paul

Everyone assumes America must play the leading role in crafting some settlement or compromise between the Israelis and the Palestinians. But Jefferson, Madison, and Washington explicitly warned against involving ourselves in foreign conflicts.

Ron Paul

American politician (born 1935)

War is never economically beneficial except for those in position to profit from war expenditures.

Ron Paul

American politician (born 1935)

1913 wasn’t a very good year. 1913 gave us the income tax, the 16th amendment and the IRS.

Ron Paul

American politician (born 1935)

Our country’s founders cherished liberty, not democracy.

Ron Paul

American politician (born 1935)

In time it will become clear to everyone that support for the policies of pre-emptive war and interventionist nation-building will have much greater significance than the removal of Saddam Hussein itself.

Ron Paul

American politician (born 1935)

When one gets in bed with government, one must expect the diseases it spreads.

Ron Paul

American politician (born 1935)

Throughout the 20th century, the Republican Party benefited from a non-interventionist foreign policy. Think of how Eisenhower came in to stop the Korean War. Think of how Nixon was elected to stop the mess in Vietnam.

Ron Paul

American politician (born 1935)

You don’t have freedom because you are a hyphenated American; you have freedom because you are an individual, and that should be protected.

Ron Paul

American politician (born 1935)

As recent as the year 2000 we won elections by saying we shouldn’t be the policemen of the world, and that we should be nation building. And its time we got those values back into this country.

Ron Paul

American politician (born 1935)

Capitalism should not be condemned, since we haven’t had capitalism.

Ron Paul

American politician (born 1935)

You wanna get rid of drug crime in this country? Fine, let’s just get rid of all the drug laws.

Ron Paul

American politician (born 1935)

All initiation of force is a violation of someone else’s rights, whether initiated by an individual or the state, for the benefit of an individual or group of individuals, even if it’s supposed to be for the benefit of another individual or group of individuals.

Ron Paul

American politician (born 1935)

There is nothing wrong with describing Conservatism as protecting the Constitution, protecting all things that limit government. Government is the enemy of liberty. Government should be very restrained.

Ron Paul

American politician (born 1935)

The most important element of a free society, where individual rights are held in the highest esteem, is the rejection of the initiation of violence.

Ron Paul

American politician (born 1935)

If you like small government you need to work hard at having a strong national defense that is not so militant. Personal liberty is the purpose of government, to protect liberty – not to run your personal life, not to run the economy, and not to pretend that we can tell the world how they ought to live.

Ron Paul

American politician (born 1935)

Justifying conscription to promote the cause of liberty is one of the most bizarre notions ever conceived by man! Forced servitude, with the risk of death and serious injury as a price to live free, makes no sense.

Ron Paul

American politician (born 1935)

The obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

Ron Paul

American politician (born 1935)

Deficits mean future tax increases, pure and simple. Deficit spending should be viewed as a tax on future generations, and politicians who create deficits should be exposed as tax hikers.

Ron Paul

American politician (born 1935)

How did we win the election in the year 2000? We talked about a humble foreign policy: No nation-building; don’t police the world. That’s conservative, it’s Republican, it’s pro-American – it follows the founding fathers. And, besides, it follows the Constitution.

Ron Paul

American politician (born 1935)

The moral and constitutional obligations of our representatives in Washington are to protect our liberty, not coddle the world, precipitating no-win wars, while bringing bankruptcy and economic turmoil to our people.

Ron Paul

American politician (born 1935)

Cliches about supporting the troops are designed to distract from failed policies, policies promoted by powerful special interests that benefit from war, anything to steer the discussion away from the real reasons the war in Iraq will not end anytime soon.

Ron Paul

American politician (born 1935)

Setting a good example is a far better way to spread ideals than through force of arms.

Ron Paul

American politician (born 1935)

I am just absolutely convinced that the best formula for giving us peace and preserving the American way of life is freedom, limited government, and minding our own business overseas.

Ron Paul

American politician (born 1935)

I have never met anyone who did not support our troops. Sometimes, however, we hear accusations that someone or some group does not support the men and women serving in our Armed Forces. But this is pure demagoguery, and it is intellectually dishonest.

Ron Paul

American politician (born 1935)

What is not conservative about saying, ‘Don’t go to war unless we go to war properly with a full declaration of war and no other way?’

Ron Paul

American politician (born 1935)

Believe me, the next step is a currency crisis because there will be a rejection of the dollar, the rejection of the dollar is a big, big event, and then your personal liberties are going to be severely threatened.

Ron Paul

American politician (born 1935)

To me, to be a conservative means to conserve the good parts of America and to conserve our Constitution.

Ron Paul

American politician (born 1935)

Just think of what Woodrow Wilson stood for: he stood for world government. He wanted an early United Nations, League of Nations. But it was the conservatives, Republicans, that stood up against him.

Ron Paul

American politician (born 1935)

Back a hundred years ago, especially around Woodrow Wilson, what happened in this country is we took freedom and we chopped it into pieces.

Ron Paul

American politician (born 1935)

Prices are going up. Unemployment is continue to go up. And we have not had the necessary correction for the financial bubble created by our Federal Reserve system.

Ron Paul

American politician (born 1935)

I will always vote what I have promised, and always vote the Constitution, as well as I will not vote for one single penny that isn’t paid for, because debt is the monster, debt is what’s going to eat us up and that is why our economy is on the brink.

Ron Paul

American politician (born 1935)

There’s nothing wrong with being a Conservative and coming up with a Conservative believe in foreign policy where we have a strong national defense and we don’t go to war so carelessly.

Ron Paul

American politician (born 1935)

Of course I’ve already taken a very modest position on the monetary system, I do take the position that we should just end the Fed.

Ron Paul

American politician (born 1935)

Having federal officials, whether judges, bureaucrats, or congressmen, impose a new definition of marriage on the people is an act of social engineering profoundly hostile to liberty.

Ron Paul

American politician (born 1935)

There is only one kind of freedom and that’s individual liberty. Our lives come from our creator and our liberty comes from our creator. It has nothing to do with government granting it.

Ron Paul

American politician (born 1935)

A system of capitalism presumes sound money, not fiat money manipulated by a central bank. Capitalism cherishes voluntary contracts and interest rates that are determined by savings, not credit creation by a central bank.

Ron Paul

American politician (born 1935)

Another term for preventive war is aggressive war – starting wars because someday somebody might do something to us. That is not part of the American tradition.

Ron Paul

American politician (born 1935)

When the federal government spends more each year than it collects in tax revenues, it has three choices: It can raise taxes, print money, or borrow money. While these actions may benefit politicians, all three options are bad for average Americans.

Ron Paul

American politician (born 1935)

I am absolutely opposed to a national ID card. This is a total contradiction of what a free society is all about. The purpose of government is to protect the secrecy and the privacy of all individuals, not the secrecy of government. We don’t need a national ID card.

Ron Paul

American politician (born 1935)

Legitimate use of violence can only be that which is required in self-defense.

Ron Paul

American politician (born 1935)

Have you noticed the debt is exploding? And it’s not all because of Medicare.

Ron Paul

American politician (born 1935)