NEIL CAVUTO, HOST OF "YOUR WORLD": To the other storm of the more financial variety that never materialized, stocks rallying despite what we've been seeing going on, or the fear of what could happen with a hurricane.
Ben Bernanke today denying investors any hint of another round of stimulus, although he kind of left them hanging.
That's got to be welcome news to GOP presidential candidate Ron Paul, who joins us now on the phone.
Congressman, he sort of just punted today. The markets wanted to see more help, but he more or less said, well, I'm going to have another meeting next month. We will kibitz about it, but that's it.
What did you make of that?
REP. RON PAUL, R-TEXAS: Well, he doesn't have much option.
He only has one tool. And that's to inflate the currency. And because he didn't announce another program and said we're just going to maintain this steady ship of state, what he's doing really is a form of QE, because how does he keep interest rates low? He has to keep monetizing the debt.
CAVUTO: All right. Congressman, you're a genius. I just want to bring this to levels even I can understand.
And that is QE, you're referring to quantitative easing --
PAUL: Quantitative easing.
CAVUTO: -- when he comes in the market and essentially buys up a lot of securities and debt --
CAVUTO: -- essentially prints money.
You've never been a fan of that. You've never been a fan of the Fed. But the market is always looking for a tonic. And that's tonic they have been waiting for. What do you just make of that oddity?
PAUL: Well, I don't think there's a tonic yet. I think there are still too many uncertainties going on. He is guaranteeing he will continue the process. He's just is indicating he's not going to have any more surges.
But we've been doing this for a long time. Greenspan did it and kept interest rates too low, too long. And then we had QE1, QE2. But as long as Bernanke’s saying he will go into 2013 and maintain very, very low interest rates, it means he has to be very active, because --
PAUL: -- if foreigners decide not to buy much, he has to buy up these Treasury bills to keep these interests very low.
So I don't think a whole lot has changed. But he just didn't have any big announcement. He wasn't looking to stir up the markets. He was trying to calm the markets. But he certainly didn't calm the gold market.
PAUL: The gold recognizes that he's going to still print a lot of money and he's hoping that if he throws it back to the Congress, Congress will cut back on the deficit, which isn't going to happen.
So, tomorrow, we'll -- next week of course will be another week and we will see what happens then, how people will interpret this all.
CAVUTO: Congressman, I wish we had more time, but while you're on with me here, I always hear from a lot of your people, not me specifically, I guess, sir, but they always say, Ron Paul deserves more publicity, Ron Paul deserves to be on more.Do they know how often you are on this show?
PAUL: I don't know, but I bet you have the record.
CAVUTO: Well, I do. You know, actually, I do.
PAUL: I appreciate that.
CAVUTO: And I'll tell you something, Congressman, because maybe you can pass this along, but you have been on -- I was checking this, sir -- 28 times since November 2008, 50 times since January 26, 2005.
CAVUTO: That doesn't include other special appearances.
In fact, you've been on with me so often -- I love having you on. You're a great guest. Don't get that wrong.
CAVUTO: You could practically be my co-anchor. So I’m wondering --
PAUL: Well, that's a flattering statement.
CAVUTO: I think it is, too.
But, seriously, can you get back to them and let them know? I know I'm kind of like the Rodney Dangerfield of these prime-time shows, but let them know you have an open invite. You've been on a lot of times. We love having you on, you know?