Pillars of Prosperity: Free Markets, Honest Money, Private Property

Pillars of Prosperity, published in 2008, is a collection of Congressional speeches, bill proposals, committee discussions, and exchanges with various government and banking officials that Dr. Ron Paul has given or taken part in during his time, from 1976 to 2012, in the United States Congress.

About

Dr. Paul's Congressional record is flawless. He never voted for a bill that was in conflict with the Constitution and he never passed up a chance to grill the Chairman of the Federal Reserve (whenever they would give him a chance that is). This book shows the depth of character and courageous strength that Dr. Paul kept throughout his time in Washington.

Robert P. Murphy, in the preface to the book, states:

The core of the book concerns Dr. Paul’s strong support for honest money. (It was, after all, Nixon’s closing of the gold window that prompted Dr. Paul to run for office in the first place.) There are also entire sections on trade, international organizations such as the IMF and WTO, and a section outlining Dr. Paul’s attempts to protect Social Security from the big spenders in D.C. The collection also includes a selection of specific tax cuts Dr. Paul has suggested, which shows that—despite his nickname of “Dr. No”—Ron Paul is a real congressman, who brings real bills to the floor for consideration. Most of the selections are straight testimony from Dr. Paul, though a few transcripts of actual floor debate have been included to give the reader a feel for the deliberative body of which Paul is a member. There are numerous exchanges between Ron Paul and Alan Greenspan, as well as an encounter with George Soros that somehow turns to drug legalization. And perhaps the most surreal event is the duel between Ron Paul and Nancy Pelosi (over the constitutionality of the Export-Import Bank). Besides the eloquence and wisdom of his remarks, the reader will also be struck by Ron Paul’s consistency over the decades. This makes perfect sense for someone who actually holds principles and makes speeches accordingly. But as we all know, this is rare indeed for a politician.

Contents

Table of Contents

PREFACE BY ROBERT P. MURPHY FOREWORD BY LLEWELLYN H. ROCKWELL, JR. PART 1—THE ECONOMICS OF A FREE SOCIETY Current Political Philosophies’ Errors to Result in Political and Economic Crisis Challenge to America: A Current Assessment of Our Republic Has Capitalism Failed? PART 2—MISES AND AUSTRIAN ECONOMICS: A PERSONAL VIEW PART 3—REFORMING SOCIAL SECURITY Senior Citizens’ Freedom to Work Act of 1999 Social Security Tax Relief Act Social Security Preservation Act Social Security for American Citizens Only! PART 4—GIVING MONEY BACK TO THE TAXPAYERS The Agriculture Education Freedom Act The Family Health Tax Cut Act The Public Safety Tax Cut Act End the Income Tax—Pass the Liberty Amendment Teacher Tax Cut Act The Family Education Freedom Act The False Tax Cut Debate Police Security Protection Act PART 5—MONEY AND BANKING: GOLD VERSUS FIAT To Provide for Amendment of the Bretton Woods Agreement Act, and for Other Purposes Inflation—The Overriding Concern of All Americans Curtailing the Discretionary Powers of the Federal Reserve Print 3 Million and Take 1 Million for Yourself Gold Prices Soar; Dollar Declines Government Should Stop Destroying Value of the Dollar Increased Money Supply Cause of Inflation The Recent Strength of the Dollar and Inflation Inflation is Caused by Government Debasement Congressional Inflation Gold versus Paper Five Myths of the Gold Standard Audit of the Federal Reserve High Interest Rates At the Brink The Folly of Current Monetary Policy Back Into the Woods Conduct of Monetary Policy, March 5, 1997 Federal Reserve has Monopoly over Money and Credit in United States Conduct of Monetary Policy, July 22, 1997 East Asian Economic Conditions Conduct of Monetary Policy, February 24, 1998 The Bubble International Economic Turmoil Revamping the Monetary System Congress Ignores its Constitutional Responsibility Regarding Monetary Policy Warning about Foreign Policy and Monetary Policy Economic Update The Economy The U.S. Dollar and the World Economy The Foolishness of Fiat Gold and the Dollar Hard Questions for Federal Reserve Chairman Greenspan Bring Back Honest Money Paper Money and Tyranny Reject Taxpayer Bank Bailouts The End of Dollar Hegemony What the Price of Gold is Telling Us Monetary Policy and the State of the Economy Chinese Currency Financial Services Paulson Hearing PART 6—FREE TRADE: REAL VERSUS PHONY Our Soaring Trade Deficit Cannot Be Ignored Ron Paul Amendment to Cut Corporate Welfare What is Free Trade? The Dollar and Our Current Account Deficit International Trade PNTR The Export-Import Reauthorization Act Opposing Unconstitutional “Trade Promotion Authority” Steel Protectionism Export-Import Bank is Corporate Welfare Don’t Antagonize Our Trading Partners The United States Trade Rights Enforcement Act PART 7—INTERNATIONAL AFFAIRS Dissenting Views on H.R. 7244 Big Bankers Get Their Bailout The Mexican Bailout Reaffirming Commitment of United States to Principles of the Marshall Plan Calling for the United States to Withdraw from the World Trade Organization U.S. Membership in the World Trade Organization New China Policy Ending U.S. Membership in the IMF Wasteful Foreign Aid to Colombia Opposing Taxpayer Funding of Multinational Development Banks Why Does the IMF Prohibit Gold-Backed Currency for its Member States? The Myth of War Prosperity Opposing Trade Sanctions against Syria Reject the Millennium Challenge Act Providing for the Establishment of a Commission in the House of Representatives to Assist Parliaments in Emerging Democracies Opposing Statement to Committee on Financial Services World Bank Hearing Darfur Accountability and Divestment Act Iran Sanctions Enabling Act PART 8—HOW GOVERNMENT DISTORTS THE HOUSING MARKET Debate on the Housing Opportunity and Responsibility Act of 1997 Fannie Mae and Freddie Mac Subsidies Distort the Housing Market The American Dream Downpayment Act Reforming the Government Sponsored Enterprises (Fannie Mae and Freddie Mac) Mortgage Industry Has Its Roots in the Federal Reserve’s Inflationary Monetary Policy PART 9—SPENDING, TAXES, AND REGULATIONS The Chrysler Bailout The Balanced Budget Amendment Authorizing President to Award Congressional Gold Medal to Mother Teresa The Davis-Bacon Repeal Act The National Right to Work Act Authorizing President to Award Congressional Gold Medal to Rosa Parks OSHA Home Office Regulations Minimum Wage Increase Act Awarding Gold Medal to Former President and Mrs. Ronald Reagan in Recognition of Service to Nation Internet Gambling Prohibition Act of 2000 The Wage Act Truth in Employment Act Financial Anti-Terrorism Act of 2001 Terrorism Reinsurance Legislation The Collapse of Enron Television Consumer Freedom Act The Shrimp Importation Financing Fairness Act Oppose the Federal Welfare State Oppose the Spendthrift 2005 Federal Budget Resolution A Token Attempt to Reduce Government Spending Praising Private Space Exploration Government Spending—A Tax on the Middle Class Raising the Debt Limit: A Disgrace Repeal Sarbanes-Oxley! The Republication Congress Wastes Billions Overseas So-Called “Deficit Reduction Act” What Congress Can Do About Soaring Gas Prices Executive Compensation GLOSSARY OF ACRONYMS INDEX

Links

• Documents page at Mises.org (including full text)
  • Part I excerpt "The Economics of a Free Society"
    • Audio reading by Floy Lilley
  • Part I excerpt "Challenge to America: A Current Assessment of Our Republic"
    • Audio reading by Floy Lilley
  • Part I excerpt "Has Capitalism Failed?"
    • Audio reading by Floy Lilley

• "Ron saw it all" by Jeffrey Tucker, September 2008
• Review: Ron Paul's "Pillars of Prosperity" Part I: The Economics of a Free Society