Freedom Watch: 9/9

" Okay. What do that Chinese Government officials want to do with respect to the top. Do they want the dollar to be the international. Standard of currency that is today."

" I don't think so I think they want out of a dollar but they they think that -- in a box because they own so many of them you know it's like you know when you -- somebody a lot of money. You know. Now you're in trouble because they can't pay you back you take a big loss but. There's an expression investing where you throw good money after bad race and that's what the Chinese are doing right now they're throwing good money after bad at some point. They're gonna have to come to terms of those mistakes and act rationally and just get out this position take their losses and move on. But I think the longer they they do this actually. For the worst they make -- for us because as the Chinese Government loans money to our government right there enabling. All the bailouts they're enabling the stimulus they're letting our government grow here. Our government's with the means to expand if we get some kind of national health care is because the Chinese are finding it. And if they stopped they can force our government to live within its means and put -- candidates don't."

" They understand that they'll be paid back in inflated dollars in dollars that are worth a lot less than the ones they -- I think is. -- that they would want to guard against."

" They understand that they're talking about they're there they're telling there's they're saying that. We needed to stop the deficit spending needed to get this under control but we can't do it and with the Chinese have to understand is that the more they lend us money. The more they enable the very activity that's gonna undermined the value of the dollar if they really want the US government to stop printing money."

" Then stop buying our bonds stopped giving us the rope to hang hours or why did they give us the road to and ourselves is is that -- geo political reason there always looking for security and wants to they wanna own Yellowstone National Park. I like mortgage that's I don't think what we we we we won't let them buy it and that we could stop the Chinese we just authorizes the the purchases."

" But I think there is -- mentality either they they it is vendor financing Nader is a a myth out there. That well you know what would all the Chinese workers are always factory due. If America was too broke to buy their products well the reality is we are too broke to buy their products we can't buy them they're giving us the money to buy them. And if they just can understand the concept. That they only allow their own currency to rise -- let that aren't -- appreciate. That the value of the wages of their own workers will rise dramatically. And their own people will be able to buy their products they have no shortage like they have terrific battles applied correctly."

" Right or wrong and I love this conversation with it as I learn every time we we have one like this is as do. The many good people that are watching and listening to us now. -- Money managers. The same. Big government borrowings of the same big government parlance that mentality. As powers are. Or do they understand. The basics of economics 101 as you -- IQ and as we wish Erica --"

" I don't know what they understand and haven't had any conversations. With them. But I I certainly see and read some of the quotes coming -- from some other ministers and it certainly seems that they do understand that if you look at what they've done with their reserves. They have doubled the percentage of coal reserves that are humility marble they're trying to -- their way out of the dollar they're certainly shortening up. On their maturities meaning they're not buying that candidates want a year well why they're buying short term 350 my it was shorter shorter. And I think the reason you do that is so you can get out member. If they have a lot of thirty year government bonds and they wanted to sell they have to find a buyer in -- get their money with the -- a short term note just let it mature."

" If the government sells 200 million dollars worth of where the -- to the Chinese Government on January 1. And those things are due on June 1 what's the government gonna do on on May 31 fell 200 million -- somebody else they're gonna."

" Do exactly what Bernie Madoff used to do they're gonna look for new money so what picture what the US government hopes is that when those bonds mature. The Chinese just roll it over and say okay we'll take that money and will buy. Another maturity along the maturity the problem is when the Chinese say you know what. We want our money back I don't wanna buy another treasure from you I'll just take my dollars to -- do something I'll look. That's when there's a problem -- just like that summer evening Bernie Madoff got a problem he got a bunch of redemption requests and he couldn't find new money in the whole thing on my."

" Argued with Neil Cavuto our mutual friend on the Fox News Channel much longer the Social Security was the biggest Ponzi scheme in history. Maybe. The Treasury Department is a bigger Ponzi scheme that Social Security after the accident -- we have this game got upon the economy and out of -- said I that was my joke I don't know why -- made up and values to be the secretary of the treasury. He's doing never -- everything we do is pattern but Neil Cavuto didn't understand let -- and -- you know Neil Cavuto agreed can order to have kidding when SNL argue. Before -- let you go. We're gonna go to nick Gillespie from reason magazine in Washington DC standing by. Is there anything new in Connecticut politics have been on vacation for a couple weeks and if you drive a bus for a living. You don't -- on the bus when you're on vacation so I don't watch any television -- the two weeks that I was only. Is there anything on Connecticut politics I -- now."

" Well you'd everybody knows that I'm very close to potentially making an announcement and I still have potentially that I would be running for for the US senate now I know Linda McMahon. Who was the wife of world Wesley federation Vince McMahon she is probably going to be announcing. Sometime very soon that she is also. A candidate so it's going to be very interest being raised with some very flamboyant that and characters are there other than the mainstream politicians. I know there's a group of people who support me who are actually holding them money bomb today. Opt for immediate shift percentage dot com so if anybody wants to encourage me to run contribute to my exploratory committee today would be good -- do that. I chip percentage dot com. Actually leaving the country live this happened I'm speaking at an economic conference in Poland mean. And and and I'll be gone for a week but hopefully soon after I return I can make some type of announcement one way or the other. -- respect to what I'm gonna be doing."

" Well you know freedom watch is telling daily at thirty minutes every day Monday through Friday we'll have to see more of you good luck we -- that's fallen and I -- while you're over there. You come back with a decision at. I've probably well I'd like it's great that you guys are going -- what kind I want to say one thing about what you were talking about Ron Paul shared health care in the constitution if you can you know if you ask somebody to look at the constitution and asked them. Does the word. Health -- does the word medicine does the word doctor medical care do any of these words appear anywhere in the body of the competition. And it's not that there were no doctors Bakken 1776. People got sick you know. We went to doctors if the founding fathers wanted the government to provide healthcare limited today there what about the villa right they had ten of them you don't think they would I had room to stick something in that you -- the right -- health -- that was supposed to -- in the constitution. It is obvious it's got nothing to do the federal government absolutely it's a great argument good luck with -- trip and thanks again thanks thank you very much leadership nick Gillespie. The reason magazine the editor in chief of reason TV and reason dot com joins us now -- welcome back to freedom watch. Thanks for having me congratulations on the Natalie upgrade well euphoric effect. -- only you could."

" Refer to it as an upgrade thank you I'd take that as a compliment from plenty here. My dear old friend I was chatting with congressman Paul not too long ago and I told them yesterday on my radio show -- the judgment -- Radio partner Brian Kilmeade we interviewed congressman. Jim Cliburn. Democratic South Carolina. Who is the number three ranking Democrat in the House of Representatives after congress speaker Pelosi. And majority leader lawyer and I said I -- just as Peter Schiff and I were talking where in the constitution. That's the congress get its authority to regulate health care and he said in the judge. Much of what we do down here referring to where you are now Washington DC. That's not come from the constitution. We pretty much enact what we think we should an -- let the courts worry about it it's constitutional. Now he's taken an oath to uphold the constitution that only to uphold it but to preserve it. Protected and defended what the -- imply that he's read it. That he knows what's in there and that he's agreed to."

" I think that day most both the congress has that taken an oath to stretch and extend the constitution to a far beyond its natural limits its. A big pair of kind of stretchy elastic pants that you CO retirees. They're working to make it as big as possible and to cover as much territory as possible and unfortunately. Bancroft. If not the country certainly the future of the country."

" And I don't just wanna pick gun on congressman Clive and you and I know this because we've talked about it and you you and I did an interview in. In recent magazine the Republicans do the same thing President Bush and Republicans did with the Patriot Act and I protect often does and other things while they did like taking. And over education nonprescription. Drug -- for joining us and the Democrats are doing -- are aren't commercial liberties. Yeah in term."

" Of health care I mean the you know you you have to look back at. Bush President Bush and all of the Republicans who went along with the Medicare prescription drug plan which. As bad as the original Medicare bill was I think you know that expansion of it was equally bad or even worse in the sense that. You couldn't even pretend when the Medicare prescription drug benefit was passed. That a majority of seniors were in dire straits where they couldn't get their bills unless the government provided them on his. A really shameless act of pandering to the wealthiest factor of the American population. Which are older people who have huge capital investments and money to live off most people say pretty well for the retirements and you know should shameless to take it from relatively young and relatively poor people and give more money done relatively wealthy and relatively more connected people. And -- worry about what we're gonna hear tonight. It seems like health terrorism how health care reform is imperiled I think that's a good thing and one of the things that we've seen this is -- summer of US discontent. And people have been speaking up in a way that is extremely rare it's unprecedented in my lifetime. And I think it's incredibly encouraging and heartening that you congressman. Legislature legislators at all level are really getting a message from their constituents and that that's I think it's a healthy dynamic."

" We are chatting with nick Gillespie who's the editor in chief of reason TV. And at reason dot com. This brings me don't to a topic that you and I and you're talking about which is big government and both parties the Republicans almost to a person. In both houses of the congress are resisting the president tooth and nail at least insofar. As the federal takeover. Of pain for the so called federal options. And Medicare for people below 65 is concerned. These are the same folks that voted in favor of George Bush is takeover. Of prescription drugs for seniors that you just talked about so eloquently which cost over 400 billion dollars so. Are they small government. Freedom loving free market constitutional respecting. Republicans. Only when there's a Democrat in the White House."

" I you know that seems to be the case and you mentioned congressman Ron Paul I it was one of the few people who really voted against the Patriot Act in all of considerations. And you know I mean there are extremely few people on either side of the aisle who were actual constitutional us. And who are limited government -- tapes and I and I don't think you need to be a Democrat or Republican to want to respect the constitution. But they're very much in short supply. The real heroes of this dynamic in the recent and one of the things that people can focus on a lot of people in the mainstream media are saying you know these Republicans are obstructionist that they're getting in the way. Of the future of progress of Obama's grand plan for what we should be paying for next. In fact the Republicans are out of that I -- Democrats could pass this legislation. If they wanted to and the real heroes here in the real people were saying no win -- to use the phrase that Herman Melville I used to describe the the power of Nathaniel Hawthorne's work. -- the real the real heroes here the American people a a plurality of Americans are against health care reform. 39 to some person 39 to 37%. Are against the current Obama plan and the rest are out not sure where they stand on things. But it's the American people that the Democrats are scared of right now and I again I think that's healthy dynamic. People are not happy with the health care system and it's very important that we recognized healthcare needs to be reformed. Health care needs to be reform. To -- more market based system markets have delivered markets and competition if we're talking about coffee drinks if we're talking about private education at the college level beyond right markets have to you markets have delivered much much better products at much lower cost there's no reason why health care. Would not follow the thing you basic dynamic of free enterprise -- UN. Let's unleash free markets in health care rather than doubling down or tripling down. On Medicare programs and Medicaid programs and increasingly centralized programs that don't work in an increasingly decentralized world."

" And Nicholas that you and I have argued until we're blue in the face. That you should today that is the state governments should deregulate insurance. So that her insurance companies from the South Dakota I can tell policy in New Jersey. And so that you can get a policy that is tailor made to your needs. And ability to pay for insurance companies could really compete with -- each other. There'd be many many insurance companies all over the place competing for your business you and I have I also argued. That healthcare is not a right it's not a natural right it's not a legal right it's not a moral right it's a good like that she's."

" Purple amber or television or or or an iPod but we are at all I know we know is when we make these arguments back. While we know for sure that if the government suddenly acquired all of the McDonald's or all of the burger joints in America take a lot of things that. Burgers you know I mean and there is no reason to think that healthcare is intrinsically different that somehow. Doctors and nurses are anointed by god or some other some other authority and that they have some divine powers. They are subject to the same laws of supply and demand as everyone else. If they have to compete and we can see this and things like dentistry and things like I care which are not as heavily covered. By insurance by third party Payer insurance you see a lot more competition a lot more innovation and you see a lot more inflation adjusted declines in prices. And an increase in services it is. It's mesmerizing to me and it's also very insulting that the government might say you know -- When it comes to college will let you. Have a wide variety of choices but -- problem public and private. It's voluntary. But when it comes to health care. We cannot let you make your own decisions we need to have more and more government involvement at every level of the health -- making process -- it's just wrong and it's it's bad economics and in the end. These are the types of unfunded liabilities and open ended entitlements that really bankrupt entire civilizations much less. Short term government such as you know we might be sitting in among. A democratic majority and he says is it isn't that nature."