Best of the Week
Most Popular
1.Bitcoin War Begins – Bitcoin Cash Rises 50% While Bitcoin Drops $1,000 In 24 Hours - Jeff_Berwick
2.Fragile Stock Market Bull in a China Shop -James_Quinn
3.Sheffield Leafy Suburbs Tree Felling's Triggering House Prices CRASH! - Nadeem_Walayat
4.Bank of England Hikes UK Interest Rates 100%, Reversing BREXIT PANIC Cut! - Nadeem_Walayat
5.Government Finances and Gold - Cautionary Tale told in Four Charts - Michael_J_Kosares
6.Gold Stocks Winter Rally - Zeal_LLC
7.The Stock Market- From Here to Infinity? - Plunger
8.Ethereum (ETH/USD) – bullish breakout of large symmetrical triangle looks to be getting closer - MarketsToday
9.Electronic Gold: The Deep State’s Corrupt Threat to Human Prosperity and Freedom - Stewart_Dougherty
10.Finally, The Fall Of The House Of Saud - Jim_Willie_CB
Last 7 days
Best Time / Month of Year to BUY a USED Car is DECEMBER, UK Analysis - 13th Dec 17
A Former Wall Street Veteran: Good Traders Are Born, Not Trained - 12th Dec 17
Buy Gold, Silver Time After Speculators Reduce Longs and Banks Reduce Shorts to Continue? - 12th Dec 17
Masters of Economic and Political Illusion – in Taxes, Debt, Government, and Markets - 12th Dec 17
Approved Used Land Rover Main Dealer Real Customer Buying Guide - Hunters, Chester - 12th Dec 17
Gold Price 100% Bullish Signal - 12th Dec 17
Epic Stock Market & Fixed Income Bubble Will Not End Well - 12th Dec 17
Bitcoin can be stolen. Although Can’t be hacked - 11th Dec 17
Have Stocks Reached A Permanently Rigged Plateau? - 11th Dec 17
Trying To Beat The System Is A Fatally Flawed Investment Strategy - 11th Dec 17
Is This The Beginning Of The Next Silver Rush? - 11th Dec 17
The Dow Gold Ratio - 11th Dec 17
Evidence of a Stock Market Top Mounting - 10th Dec 17
Bitcoin Doesn’t Exist – Forks and Mad Max - 10th Dec 17
Bitcoin Doesn’t Exist – Putting the Banks Out of Business - 9th Dec 17
China’s Struggle for Market Economy Status - 9th Dec 17
Is Gold Really Strong? - 9th Dec 17
Bitcoin Parabolic Mania - 8th Dec 17
SPX Make a 61.8% Retracement - 8th Dec 17
Gold, Stocks and Bonds - The 3 Amigos Update - 8th Dec 17
Gold Stocks Break, Gold to Follow - 8th Dec 17
4 Charts That Show How Trump Tax Cuts Will Trigger A Recession - 8th Dec 17
Precious Metals Breaking Down! 3 Amigos to Abort? 4 Horsemen to Ride? - 7th Dec 17
Bitcoin Just Smashed Through $12k… Wait, $13k… Now $14k… This Is Getting Ridiculous! - 7th Dec 17
Stock Market Tops Look Like This - 7th Dec 17
Crude Oil, Oil Stocks and Invalidation of Breakouts - 7th Dec 17
Bitcoin Doesn’t Exist – 2 - 7th Dec 17
British Pound Sterling Volatility In Crucial Week of Brexit Talk - 6th Dec 17
Day Trading vs Swing Trading: Which One is the Better Strategy? - 6th Dec 17
Crude Oil and Negative Divergences - 6th Dec 17
EU Bailins Coming – 114 Italian Banks Have NP Loans Exceeding Tangible Assets - 6th Dec 17
Bitcoin Doesn’t Exist - 5th Dec 17
Advantages of Car Insurance to Protect a Vehicle - 5th Dec 17
How High Will Gold Go? - 5th Dec 17
The Loonie Takes Flight -- BUT a "Labor Miracle" is NOT the Reason Why - 5th Dec 17
The True Meaning of Bitcoin's 'Success' - 5th Dec 17
Gerald Celente: Middle East Wild Cards Could Bring Down Markets, Drive Up Gold - 5th Dec 17
Silver’s Positive Fundamentals Due To Strong Demand In Key Growth Industries - 4th Dec 17
Stock Market Positive Expectations, But Will S&P 500 Continue Higher? - 4th Dec 17
Bitcoin Achieved What The Gold Market Never Could & Never Will? - 4th Dec 17
Stock Market Top Distribution Starting - 4th Dec 17
Understanding Real Time Forex Trading - 4th Dec 17

Market Oracle FREE Newsletter

Traders Workshop

Ron Paul Never Wielded Any Power

Politics / US Politics Nov 19, 2012 - 06:30 AM GMT

By: Gary_North

Politics

On Wednesday, November 14, Ron Paul delivered his final speech at the podium of the United States House of Representatives. It was covered by C-SPAN live, and was later posted on C-SPAN's site. It was soon posted on YouTube, and from there was posted on numerous sites.


Within hours, various media outlets began to comment on it, both from the Right and from the Left. From the ones that I saw, all of them were generally favorable. This was remarkable. In thinking about it over the weekend, I began to perceive just how remarkable it was.

I searched Google for "Ron Paul" and "farewell address." I got almost 200,000 hits.

In the history of American politics, I can think of only four farewell addresses that ever got into the textbooks, and one of them was a fake. The most famous one was George Washington's 1796 farewell address, and it was not an address. It was a newspaper article. The second came in 1961, which was Dwight Eisenhower's famous military-industrial complex speech. The third one was Richard Nixon's announcement after his defeat in 1962 when he ran for governor of California against Edmund G. "Pat" Brown. I'm not sure that it should be regarded as an address; it was more of a press conference, but it counted as a farewell address . . . for six years. In it, he uttered the immortal words, "You won't have Dick Nixon to kick around anymore." It was aimed at the media. Then, a dozen years later, he gave a real farewell address, the day before he resigned in disgrace from the presidency.

Ron Paul's farewell address was the fifth. This is extraordinary. The media did not ridicule him as arrogant for having delivered such an address. On the whole, the media seemed interested in what he had to say. Yet his speech began with a statement of the fact, namely, that he had never had any measurable political influence in the House in his entire 22 years. He had never had one of his bills passed into law.

His farewell address was taken seriously as a statement of principles, precisely because he never had any direct political influence in passing legislation. He stood as a representative of a constitutional tradition that has had only two other representatives at the national level ever since the end of the Civil War: President Grover Cleveland and Congressman Howard Buffett, who served in the late 1940s and early 1950s. Virtually nobody remembers Buffett, although almost everybody in the financial world has heard of his son Warren.

Whatever the impact of Ron Paul's farewell address, it is safe to say that no other congressman has ever delivered such an address at his retirement, at least not where the media took him seriously. It is unheard of that any Congressman would deliver such an address, and especially a Congressman who had no political power or the ability to spread election money around to his colleagues.

I regard this as a major historical indicator. I don't know if it would be legitimate to call it a turning point. We don't know at this time whether his career will be marked as an ideological turning point. What we do know is that he had a great deal of publicity, despite the fact that nobody believed that he would ever exercise direct political power. For a nationally known politician to build a career based on his never having attained political power, never wanting to attain political power, and never having anybody suggest that he was going to attain political power, is one of the great anomalies in the history of American politics. His career deserves a brief mention in the textbooks for the reasons I have just outlined. Who ever heard of a politician who received widespread publicity precisely because he never had any political power? This is a unique case.

Gary North [send him mail ] is the author of Mises on Money . Visit http://www.garynorth.com . He is also the author of a free 20-volume series, An Economic Commentary on the Bible .

http://www.lewrockwell.com

© 2012 Copyright Gary North / LewRockwell.com - All Rights Reserved
Disclaimer: The above is a matter of opinion provided for general information purposes only and is not intended as investment advice. Information and analysis above are derived from sources and utilising methods believed to be reliable, but we cannot accept responsibility for any losses you may incur as a result of this analysis. Individuals should consult with their personal financial advisors.


© 2005-2018 http://www.MarketOracle.co.uk - The Market Oracle is a FREE Daily Financial Markets Analysis & Forecasting online publication.


Post Comment

Only logged in users are allowed to post comments. Register/ Log in

Catching a Falling Financial Knife