Best of the Week
Most Popular
1.London House Prices Bubble, Debt Slavery, Crimea 2.0 - Russia Ukraine Annexation - Nadeem_Walayat
2. Gold And Silver – 2014 Coud Be A Yawner; Be Prepared For A Surprise - Michael_Noonan
3.Sheffield, Rotherham Roma Benefits Plague, Ch5 Documentary Gypsies on Benefits & Proud - Nadeem_Walayat
4.Glaring Q.E. Failure Spotted - Money Velocity Is Falling Rapidly - Jim_Willie_CB
5.Don't Miss the Boat on Big Biotech Catalysts: Keith Markey - Keith Markey
6.Gold Prices 2014: Do What Goldman Does, Not What It Says - David Zeiler
7.Bitcoin Price Strong Appreciation to Be Followed by Declines? - Mike_McAra
8.Gold Preparing to Launch as U.S. Dollar Drops to Key Support - Jason_Hamlin
9.Doctor Doom on the Fiat Money Empire Coming Financial Crisis - Andrew_McKillop
10.The Real Purpose Of QE - It’s Not Employment - Darryl_R_Schoon
Last 72 Hrs
Killing the Maximum-Wage Myth - 23rd Apr 14
U.S. Quarterly Economic Review - Optimism at the Fed - 23rd Apr 14
Why Mohamed El-Erian Left Pimco - Video - 23rd Apr 14
QE Is A Fraud Perpetrated By Made Men - 23rd Apr 14
Gold and Miners Outperform Once Again - 23rd Apr 14
G-20 and the US Tell the Bank of Japan to End Quantitative Easing - 23rd Apr 14
How to Get in the Trading Game and Profit - 23rd Apr 14
Fed Follies, U.S. Housing Market Fiasco - 23rd Apr 14
What Will December 31, 2014 Financial Headlines Look Like? - 23rd Apr 14
Why Gasoline Prices are Surging Again - 22nd Apr 14
Cold War 2.0 - 22nd Apr 14
The JIS – Junk Ideology Syndrome - 22nd Apr 14
How to Avoid Losing All Your Money - 22nd Apr 14
Silver Up, Stocks S&P Down - 22nd Apr 14
U.S. Mainstream Media Propaganda Setting the Stage for War With Pakistan - 22nd Apr 14
U.S. Interest Rates are NOT Rising! - 22nd Apr 14
A Crisis vs. the REAL Crisis: Keep Your Eye on the Debt Ball - 22nd Apr 14
Bitcoin Implications of Lack of Price Action - 22nd Apr 14
Japan - The Twilight Of The Rising Sun - 22nd Apr 14
Is This What a Credit Bubble Looks Like? - 22nd Apr 14
The Dark Side Of The Silver Mining Industry - 21st Apr 14
Strong U.S. Dollar Rally Could Pull Rug From Under Gold and Silver - 21st Apr 14
Silver Feeble Rally Fails to Hold Breakout, Falling Back Towards Support - 21st Apr 14
Stock Market Smart Money – All Out or More to Go? - 21st Apr 14
Fast Rising Pump Prices Counterattack - 21st Apr 14
Extreme Climate Change And Life On This Planet - 21st Apr 14
Gold and Silver Stocks Sitting Tight - 21st Apr 14
Stock Market Minor Correction Imminent - 21st Apr 14
Gold and Silver - Counting Blessings and Tender Mercies - 20th Apr 14 - Jesse
The CIA Through The Looking-Glass - 20th Apr 14 - Stephen_Merrill
Gold And Silver - Gann, Cardinal Grand Cross, A Mousetrap, And Wrong Expectations - 20th Apr 14 - Michael Noonan
Nikkei Stock Market - Sell Japan - 20th Apr 14 - WavePatternTraders

Free Instant Analysis

Free Instant Technical Analysis


Market Oracle FREE Newsletter

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.


© 2005-2014 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

Free Report - Financial Markets 2014