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Congressman Kirk spoke with Fox Business about the need to suspend the “Mark-to-Market” accounting rule. Kirk notes that suspending the rule is one of several key market reforms necessary to help pull the country out of the worst recession in living memory.
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( April 25th, 2006) Rep. Ron Paul speaks before the US House of Representatives. (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 1] www.youtube.com (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 2] www.youtube.com (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 3] www.youtube.com (2006) Ron Paul: GOLD AND THE US DOLLAR [Part 4] www.youtube.com ————————————————————— (Transcript) It is a mistake to blame high gasoline and oil prices on price gouging. If we impose new taxes or fix prices while ignoring monetary inflation, corporate subsidies and excessive regulations, shortages will result. The market is the only way to determine the best price for any commodity. The law of supply and demand cannot be repealed. The real problems arise when government planners give subsidies to energy companies and favor one form of energy over another. Energy prices are rising for many reasons: inflation, increased demand from China and India, decreased supply resulting from our invasion into Iraq, anticipated disruption of supplies as we push regime change in Iran, regulatory restrictions on gasoline production, government interference in the free market development of alternative fuels, and subsidies to Big Oil, such as free leases and grants for research and development. Interestingly, the cost of oil and gas is actually much higher than we pay at the retail level. Much of the DOD budget is spent protecting “our” oil supplies; and if such spending is …
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