their gold from the gold bonds that they held. we disclosed and said we're broke, we cannot do it anymore. they're talking about defaulting, there will not be enough cash. that is not the people to worry about. the default is on you because default is, they're going to print the money, the national debt will be raised, they will continue to print the money, and they will give out your dollar and their defaulting on new. if you of the savings account, if you have $1,000, right now, prices are going up closer to 10% a year. and one-year, you could list $100 out of $1,000. that is a default. they did not count it that way. they did not count it that way, that is just price adjustment. it is a deliberate policy to depreciate the currey, that is

what their business is. that is why our dollar has lost 98% of its value. that is dishonest and unconstitutional and the reason why we ought to get rid of the federal government. [applause] there is a lot of reasons why we should not have a central bank. it is not authorized in the constution. it is immoral and bad economic policy. the one issue that is dangerous to our cause of liberty is that it allows the expansion of government. if we did not have a fed to buy the debt, we do not have to be responsible because ultimately,

the federal reserve will keep the interest rates from going up, either we cannot borrow. the federal servo print the money and keep interest rates low. it is always there to do that not go that facilitates the growth of government. the fed is a culprit and we have to address that's. we cannot solve our problems without looking at the monetary issue. [applause] the great thing about what has happened in the last four years is that all the sden, the federal reserve and monetary policy has become an issue out on the table. that is a great victory and i think so many of you live helps. -- thank so many of you who have helped. we did not get our fed bill

passed. it was not passed in the senate. a lot has happened. we got a partial audit and we are getting more information a it is astounding. as much as i had anticipated it would be very bad, mor than a third of these trillions of dollars that they have pumped in to help out their friends, a third of it went to overseas banks. not to the americans who are losing their mortgages. one bank that bailed out and gets it was one-third owner, gaddafi. this is the reason that we should direct our interest to the prervation of liberty, to the people in this country, taking care of oselves, the prosperous, set a good example and others will want to emulate us. we cannot spend our goodness with a gun at. using a gun pilots are goodness. -- using a gun and violates our

goodness. [applause] liberty should be our cause. i believe all political activity is for the promotion of liberty. liberty and freedom is not perfect, but it will do more good than all the government intervention in the world. terms are thrown around, a conservative, libertarian, liberal. i like the word intervention. i did not to like -- i do not like to have a government that is an intervener. [applause] in many ways, i believe a good president woodwork and the direction of saying that, i want

to do less, but i want to firmly an courageously stand up to those who want to do more. they use an authoritarian approach and when they do, everything that they do undermines your personal liberty. it undermines everything that was good and great about america. we were never a perfect nation, and we do not have a perfect document, but we were the most prosperous ever and there is still a lot of spirit left in this country. our group is saying, we have had enough. we want our freedom back. [applause] the reason i worked so hard for personal liberty is a very important reason.

is for myself, my family, my friend, my neighbors, and my country. if we did hav our liberties, we would have more prosperity. it is a humanitarian argument because the other side, they do not produce. more importantly, a free society offers tremendous opportunities. it really releases us, against this the time and the weld to release more creative energies. it is in these credit energies, then we can deal with our problems. whether it has to do with our economic conditions, helping other people, or whether it is dealing with other countries. we will have the wealth and with this, we can work on our own imperfections to improve ourselves. work on becoming more virtuous d more compassionate. this is the society that i want to live in. regardless of what happens, the

goal is a very important gold. i am so pleased to see what is happening in the country, the interest in understanding of liberty. where i go, the numbers are growing. where i really get excited is when i go to the university and talk to the young people. they understand what they're getting. they understand that something has to be done. they also understand that whether they are in high school or college, the burden will be falling on them. no matter what happens in the next election, this cannot be changed immediately. 8 and only be changed -- it can only be changed if the people endorse the changes and the representatives understand it and do it. that is where i think we are making great progress. when i first started, i had difficulties even finding the literature. i had an inclination to study

and treat, but it took a long time, there was no internets and books were hard to find. today, it is so great to use the internet to find out what is going on. if i need a book, i can get it in five or 10 seconds off amazon. big things are happening. we have to take that and use it for a just cause and that just cause is promoting the greatness of america and promoting individual liberty in our country. thank you very much. [applause]

>> thank you, dr. paul. >> would you sign this, dr. paul? >> thank you. >> dr. paul, can you signed mind -- sign mine. >> have your camera ready. >> good.

>> next. do is next? -- whos next? >> ok. thank you, sir. >> do you have a message for students interested in politics. >> study hard bread -- study hard.

there will be a place for you. >> thank you very much. >> hello, mr. president. >> thank you. >> you are helping me out here. >> good luck.

by >> thank you so much. >> thank you. thank you.

>> thank you all very much. i'm delighted to be home. i was reminded recently of how long i have been doing this when i went into the solutions office. there was a nice intern there. i said you look familiar, have we met? he said, no, my father was a paige for you. i walked in and saw ema and was reminded that she and i started campaigning in 1973 together.

the only thing i would disagree with randy's generous introducti introduction, i don't know whether or not you could elect mr. speaker. you know me as newt. i did decide after a long consultation with our family and spending a year thinking about it that i would run for president. [applause]

>> i don't believe that any one person in the oval office can make a desighsive difference. i believe there are 3 million americans that have to be lead to work together so that all of us putting our shoulder to the wheel can make a difference. i believe that the sgap in this room would take america and

where president obama would take america is so enormous that this would be the most consequent shal election since 1960. [applause] >> i believe we are suppose to cross roads. down one road is a european socialist welfare system in which politicians identify the system. down the other road insistence that we hold these truths to be self estimate. that we are endowed by our creator with certain unalianable rights. this is the boldest, most

radical statement about political power in history. our founding fathers asserted that really, power comes from god to each one of you personally. you are personally soverign. you loan power to the government. the government does not loan power to you. the first grade choice is the obama admission.

and a gingrich administration that asserts proudly that we are free people. we are going to enforce the tenth amendment in opportunity, in freedom without being dictated to by politics and judges so deeply that we have launched three on june 14, i have a book coming out called a nation like no other.

it outlines not only where it came from. in september, a book coming out for first and second graders, called sweet land of liberty we woont to make clear not based on ideology every background of

every neighborhood of every ethnic group we want you to be on our side work with us. dependant and limited. you have a party. you should be. you represented earlier. i would urge all of you. in an email. go on twitter.

sign up. going to be my first section for americans. i find everywhere i go there are people who have come here for the first time. bj and i illustrated that. we are thrilled. we hope it is one we watch so our children can learn. i always say to become an american citizen, immigrants ought to learn american history but maybe we also should have a

voting standard that says to vote, you have to learn american history. do you know how many of our high school graduates couldn't pass a citizenship test. america is only one memory. if we lose this fight. thb country will be dramatically weakened. we'll really be in troublt but the american people faced with these two choices and choose the future of greater opportunity.

i think we'll do very, very well. what would a program of jobs for georgeannes look like? the reason we have to focus on this is pretty straight forward. people have to have a job. the social welfare program is a job. i started the day talking in washington. laugher presented the laver

curve our laver, and a number of other people developed what i call supply side economics if you want record growth, you incentivize it. it was a pretty straight forward mold. in 1980, ronald reagan kwam pained in that. remember, we had 13% inflation. we were operationing gasoline and sliding into worst depression between the great depression and the obama

recession. at that point, reagan came alon along. he had a program that's very simple dramatic reduction in regulations to make it easier to raise jobs. business owners, brand new start ups. if you go out everyday and take risks, i'm proud of you. the model was illustrated in brazil. having stopped all of america drilling. he had the nerve to go to brazil and say i am proud.

he showed you out out of touch with the rest of the world he is he has a model that says he'll have toboro from the chinese to pay the brazilians. we need a president that says i want you to be our best customer. i want to sell you american products. i posted an entire economic program. i do want to share with you a tax program everybody weights

for what a tax code will be i'm looking forward to debating. i'm happy to have a long distance debate from now to then. i support the incentivizing of a tax cut to create jobs president obama believes from levelling down. i believe in getting everybody

up. it is a fundamental difference. my goal is to get back to where we were when i left the speaker shich the largest tax cut in history the number of people you would take off of food stom ps, off unemployment, off medicaid, that is the biggest single step towards a balanced budget that you can take one, the correct

cap follow tax rate is zero. all over the world, there are people with capitol. if they woke up one morning and the tax rate was zero can you imagine how much would flow to create new jobs the second best tax rate is the irish tax rate

of 12.5%. we currently have the highest tax rate in the world, which means what? corporations don't pay it. general electric last year paid zero. why? at 35%, it was worth it to hire 375 tax lawyers. they get up every morning to say what are the loopholes i want to find the corporate tax rate. it will be cheaper to pay the

tax than to avoid it. we must go to 100% expensing the goal is straight forward. we want the american worker to be the best and most modern in the world. here is a great shock germany pays 50% more than we do. they have a government that actually favors jobs and wants people to go to work. we will appoint as the u.s.

trade representative, a trial lawyer. we want somebody with the right kind of personality that they can fly into beijang every monday looking for a fight. jo we show the chinese. we'll fight for every sale around the world finally, to eliminate the death tax [applause]

>> out here, they created wonderful jobs i don't want them to spend the last 20 years of their lives hiring tax attorneys to help them. we'll get back to dramatic economic growth. all of you here can take this to every neighborhood in your county.

just say to them. ask them would you rather that food stam ps or a paycheck? i believe 80% of americans will say i want a paycheck. why is this important. president obama is the most successful food stam p president in history. he's proud of it. i would like to be the most successful paycheck president in american history. [applause]

you have to have energy producing policy in the united states. [applause] when we develop drill here, drill now, pay less. we were right. they were wrong. if we had done that. we'd be paying less. it is not an accident. that takes me to a central theme. my theme will be together, we

can win the future. the right policies will lead to the right results. the wrong policies lead to the wrong results. the easiest two examples are from detroit and texas. through three generations of bad policies and dropped to less than 700,000 people last year. over half the houses in detroit are unoccupied. it wasn't a tsunami or flood or earth earthquake. this is a city destroyed. on the other hand. rick perry.

our campaign has robbed the year. he started 21 points behind and ageded ahead. i'm not promising you a 48-point swing but it is a nice model to start thinking of. in texas where they've had litigation reform, lower taxes, a beurocracy that encourages businesses to move in. in 2 of the last 4 years, over half of the private sector jobs in america have been in one state. texas. do you know anybody in washington is studying texas. they only meet once a year. imagine that. [applause] so, part of my summary is simple

if you'd like to join a team to model like texas, look here. if you'd like a team that model detroit, obama administration is for you. >> i want to talk about national security and let me say about foreign policy. we should have one. [applause]

let me be very clear. have you looked at what makes up the arab league the prince of

this and czar of that said this. why would we take serious ly these groups the general assembly is that kind of institution we have to fundamentally reset our security and policies building around

american interest working with people that are truly allies. we need to realize one of the side affects of killing bin laden has to be a real exploration of our relationship with pakistan. i don't know about the rest of you. combh i learned after paying $20 billion since 9/11. they had been housing him in pakistan for the last nine and a hafrl years. i was trying to figure out what the word ally meant. there is a point where you have to say to people around the world, how stupid do you think we are. do you believe he was living in that place, in a town that size

for that long and nobody there knew it. we need to have a very thur owe appraisal of what our policies are and what we are trying to accomplish. you know long before sue became an important director, she was head of my teacher group. let me say candidly, when i first ran in 1974, it was the middle of water gate. people said i couldn't win and it turned out they before right. i got 48%. i reason in 1986.

people said i couldn't win. they were right. i got 48.3%. i finally came back to win in 1978. if we hadn't had the south full ton republican women opening the office if we didn't have the spalding county republican women opening the office. if we didn't have young republicans coming on the weeken weekend. i'm standing among some really

great people. but they could individually write a check for $60 million and not feel it. >> the kind of campaign i want to rub is to get every maybe to tweet, email, chat with their friends that they meet with on saturday morning for coffee. i would like to say, i'm so grateful this has happened. my friends the speaker used to

keep trying to get rid of me on the ground. he was right. i just want to say, when we began the campaign, we were very honored. he committed he would leave i'd like to ask you to consider being a leader. i want to make this the most fun, ideal campaign.

i was fascinated. he said, look, i represent the vast majority of the country. they represent a bitter minority whose ideas are really destructive. why would they be unhappy. when they are mean and spin rited, it shows who they are. walk around the neighborhood and say everybody who would like to have a paycheck, an american foreign policy and energy policy

thank you all very, very much. [applause] >> thank you, newt. he's right. it is a turning point for our country. we have to take it back. before we adjourn. please do not take the center pieces. we need them for break fast. the first meeting will begin at 7:30 in hall b.

after the praise service, you can go onto the next service. can you dance all night. we'd be happy to see you there. food is free, drinks are on you. i look forward to seeing you tomorrow morning at the break fast honoring governor and mrs. nathan bill. good night. have a good evening and thank you. [applause]