Freedom Watch: 6/3

" Ron Paul they're talking about nationalization. That's the holy ground here we were just talking to judge about this and I hate in Europe they know that congress involves about to jump in here. The -- he's talking about Amtrak and -- that I talked about this the top of the hour where. All the sudden we have thirty years ago where president Nixon's daughter or almost forty years your president -- that Amtrak might lose money for a couple years then they'll be self sustainable. And we heard the same thing forty years later we still have -- they're still losing money we've got the same thing a couple of days ago judgment and AM."

" A couple of days ago we heard the president say I don't want to be the president edgy and I don't want to run an automobile company and this is just temporary. And pretty soon GM will be profitable and -- pay the government back the government will have a the end of this bankruptcy the government will have given Julianne. Fifty billion. Taxpayer dollars. Some people on either side of the of the -- liberals conservatives Republicans Democrats that socialist libertarians predict its going to be another twenty billion a year. How old is G and possibly going to sell enough cars to pay the government back and."

" I think you might be able to answer maybe one of the scariest things I was talking to Ray LaHood the transportation secretary earlier one of the scary things maybe for Ford is the fact the judge pointed out. This in these days you can not compete within Amtrak it is illegal. To start a company to compete with Amtrak right now if -- Ford Motor Co. who -- taken no money. And all of -- you have Chrysler we have lobbyist paid by taxpayers lobbying a government company. Anger formulas and that it is money you think you'll what's going on -- fairness."

" Congressman Paul and I have talked about this -- him and I talked about the -- that you and I have talked about this the government. Tilts the playing field. To favor its own patrons to pay to favor its own -- so the government owns Chrysler or soon will. The government owns GM or soon will. What will the government do wouldn't people who don't want to -- abide from a government owned company start buying from for the government will do something like. Well we'll give you a tax credit. If you buy something that our companies have manufactured and you won't get that tax credit if you buy something from Ford just like. UPS and FedEx can't compete with the post office for first class mail. Just like if you want to provide electricity and the Tennessee Valley Authority you can't compete. -- that federal entity just like that you wanted to run a train line from Boston to New York you can't compete with Amtrak. The government will make it impossible or financially. Not feasible to compete with its companies that's -- up."

" Market and what about lobby and what about constitutionality about lobbying we have people from General Motors going to Capitol Hill -- And then -- we can't hear we we by the way we cannot hear Ron Paul because of its it's the all why they didn't understand -- congressman we apologize we're gonna get you back the judge we can't hear you if you talk to us because of some kind of work in the system. But judge you go back to this lobbying thing. Is there are some kind of constitutionality about the fact that that taxpayers are paying for lobbyists to lobby the government."

" Well sure look that the problem with the constitution here is that no nobody abides by in the executive branch. Ron Paul and some members of congress have complained about this when Harry Truman seize the steel mills during the Korean war and literally took them over. And tried to tell them what to do you can't have a strike and you have to manufacture munitions the Supreme Court said no you can't do that. Today nobody inmates in the constitutional argument but think about the government is making up rules that's that's going along. The government is asking the congress for whatever it wants the congress and the government by the that I mean the executive branch don't care about. Any constitutional prohibitions on this so taxpayer dollars are going to prodigy have to hire lobbyists to lobby the congress -- behalf -- It's a circular movement. Of taxpayer dollars with rules being changed retroactively. That is not the free market. Free market means free from government. Management and control we're now getting --"

" And now by the way it's what this team that doesn't have to drive this judge entered a policy -- what's the strategy -- streaming live on foxnews.com. He's the senior judicial analyst congressman Ron Paul thank you -- for standing Bible we did this. --"

" Thank you -- Ron -- congressman -- to that there was a glitch in the fifth and I thought we're going to be up against John -- We we will next time 1207. Bill that is gains. Incredible support from -- both sides of the political -- Liberals conservatives believe it -- not some big government -- and obviously those who believe in the constitution. And the free market your bill. To audit the Fed. I have in my -- something I thought I would never see. Which is a piece of paper with a portion of your bill on it and handwritten changes. Written in the handwriting I believe it's senator Charles Grassley. Claiming he's in favor of the bill but have you read handwritten changes and if they became law as I understand it. It would gut the bill and severely limit. The the auditing of the -- To some financial deals that we already know about the guts of what we want audited. Would escape your bill if the Grassley amendments become law."

" Yeah that's exactly right and it's -- what they did in 1978. There was a cry at that time to audit -- and then a bill was passed the GAO was given the authority to audit the -- And then any listed these for five things that they were example all the important things."

" Now in a way Grassley does the same thing. He say is where --"

" We -- audit this if any does provide some auditing buried in a very narrow stance but the very important things monetary policy agreements."

" Between. International. Banks and that central banks and other governments and international organizations that's all still exam."

" So the fear now is that people here and I'm getting questions on the floor -- Grassley didn't you know."

" But why why worry about your -- so this -- so we're gonna stick to our guns we're gonna stick with 1207. -- 1207 gets passed it doesn't it does everything that."

" Graphic pretends to do plus the important things as well. I do we all need to know. What the Fed has done where the money has come from where it's gotten and what the deals are that have moved the money around. Well well because the Federal Reserve is so powerful they are more powerful than the US treasury in the congress. We -- 700 billion dollars under TARP funds which was atrocious and bury harmful."

" And we can't keep up with that we're talking about millions of dollars but we're talking about manipulating the market central economic planning. And that -- involved through the -- in foreign policy as well so if there is a Third World nation that's having trouble. They can be on a Third World nation and give them credits that can go out and buy weapons. So it's very involved and we don't know to what degree they do this but we're -- hide this information."

" I used to think the Fed was only. Involved in foreign policy because we spent the money that we didn't have that we monetize the death and that again allowed us to do more things when we shut this much bigger than that not only do it behind the scenes in were not allowed to know."

" That is why this attitude which is very healthy right now the reason bills getting the attention with -- and 89 co sponsors. Is that people in this country are Fed up and they want transparency. They want to see you know what's going on knowing with TARP funds but -- know -- is involved this is never happened before I think it since 1913. Have the people ever. -- up and said look. We want to what's going on. So -- in a way this crisis that we hand has offered us an opportunity in a real challenge we win this fight or we lose our country I'm afraid."

" The president is in this Saudi Arabia. Preparing to fly to Egypt to give a speech to the -- to the Muslim world. Usually we -- at a time what the president's going to say we don't know ahead of time this time what what would you like to hear from them. What are you afraid you might hear from."

" I haven't thought too much about what he should say -- shouldn't say I would justice any stay at home. You know and talked him on the telephone or invite him over and chat with them that. -- we want to be friends with whomever we're talking to do and that. We believe in free trade and that we believe -- sound currencies that brings people together and that we should work for the day congress and the American people. To understand why we want to remove sanctions from countries like Iran and and -- Cuba. And that I think this would be a great promotion for world peace or whether he talks to Israel or whether he talks to the Arab Muslim nations -- when he talks to Cuba. We should know what we believe him. And -- we should work on. You know. Making ourselves -- to -- people would want to emulate us and say look we're going to give up on this for stuff we're not going to force upon the world. Our views and we're gonna make you better people a year going to advance because unfortunately our foreign involvement has banned and this is what I would tell them. He has been that you do what I weigh in we'll give you money if you don't go to our way we'll send you -- And there has to be a third option in the third option can be found and our constitution we don't have the authority around the world police world. And we don't have the money to do it anymore so the sooner we wake up the better empires always self destruct were on the verge of doing it and we better. Quickly. Realize that we have to cut back. Because you know the Soviets the Soviets -- have to be beaten militarily and we did talk them into it they collapse. Economically and we're capable of doing the same thing. That's what we should try to -- that we have to believe in something and that to me is belief in liberty and belief and our rule of law and the constitution."

" Never heard it said better congressman Paul I don't know what the crisis will be next Wednesday but we hope you can join us again thanks very much for your time. Thank you. -- joins us now he is of course well known member of the European. Parliament who came to fame. -- and a brilliant five minute speech he -- dressed and re dressed and dressed down if I can use the vernacular in America. The annual the British prime minister whose attitudes about. Solving a problem caused by too much borrowing and spending our -- insolvent by more borrowing and spending much like we have on this goes -- The funny calling it an album producer tells me -- Daniel Daniel welcome back to freedom watch the."

" Again don't kill the funny thing is that contrary to popular perception. American -- much more could -- the bush people."

" That is certainly contrary to popular -- perception. Before we get into some of the larger economic issues that. German chancellor blasting the Fed America going through the borrowing and spending that. Britain went through nationalization of Britain went through a few years ago. Can you tell me what's happening. In the house of commons. And the nature of this scandal I -- in America if this speaker resigned. Because she took money to which she was entitled or look the other way while other members of the house did there'd be federal criminal prosecutions and a and a and a political. Earthquake over here tell us what happened in Britain and what the political reaction to it has been."

" Well I -- them would be prosecution. Some members of parliament here behaved very badly although -- there is something acquaintance but who cherish about that political -- that doesn't involve both sides and doesn't involve not he's an analogue scale -- involved people closing. Money full -- and actually he hasn't been too which they were entitled under the rules although it seems somewhat competent people to claim them. -- look at Israeli -- is not. People. I think I repeat the play something it's about a real and -- a big a political that has got the country implement. Some people angry not so much pickles and they find that they've been paying for the mortgage member parliament because they're paying for the mortgage all of the media to run out of money nationally for a while struggling with -- mortgage and -- We will lifting it. The result of the political clout that the comfortable on the community. And has become intellectually equipped intellectually bankrupt and people that the resentful of everything -- which and other -- them something like that feed the people treat between -- suddenly become huge politically."

" you you use the phrase political class you're not saying labor party or Conservative Party. Notwithstanding the image in America of the British parties. Being more ideologically. And faithful to their roots in the American political parties far. It is this same problem of both political parties or is -- primarily. The ruling party which would be prime minister Gordon Brown's labour and his allies."

" Well we'll find out tomorrow we've got we've got a major political election going on I'm up for reelection tomorrow that's member of the European Parliament that come to complement. My day. -- that there will be a very substantial equivalent. That there will be a -- made the -- and I know -- because I don't participate my vote because they believe about it political unit. It first anyway in the line of -- what -- do that but my guess that the -- they think that -- of the government that -- If that we let -- let -- little loud enough for -- going to continue further down cycle that you -- that borrowing and spending and political and local government I think that is going to be. I return to took -- But I think political club is. Something which has happened recently. Made it happen and allow India under the government. Politician have become professional line in the way that was never really the case. We thought they -- paying enormous allowances which equipment Israeli. The people who. Municipal countless. We've made it very typical politician to get -- told that we album not in this country we tell them. Moonlight thing and they you know they should -- concentrating. -- to get it the -- it means is that you don't have. Legislators -- totally dependent. On the state for that likelihood instead of having what do you feel -- which it into the legislation people who. Politically independent. Who are rooted in their communities who but I think for a limited period and who understand that they have been completely entrusted with the people's liberties that amount that the that the -- but unfortunately we have built -- that we have a political off. Career politician took on the thing I'll add them because of that -- that being spent a completely in the public sector Kenderick. Additional public spending bill that -- the problem. Yeah."