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Ron Paul Challenges Liberals On Love Of ‘Big Finance’ – OpEd


By Philip Weiss

Matt Stoller, now at the Roosevelt Institute, a former aide to former Rep. Alan Grayson of Florida, poses the question, “Why Ron Paul Challenges Liberals,” at naked capitalism. The piece is getting a ton of attention. Thinking about this piece this morning, I reflected: Ron Paul supporters came to Occupy Wall Street. They wanted a part of that radical movement. Is there nothing the left can learn from them? Stoller has jumped to that challenge. Sizeable excerpt. There is more theorizing about libertarianism’s history in the full piece.

as I’ve drilled into Paul’s ideas, his ideas forced me to acknowledge some deep contradictions in American liberalism (pointed out years ago by Christopher Lasch) and what is a long-standing, disturbing, and unacknowledged affinity liberals have with centralized war financing. So while I have my views of Ron Paul, I believe that the anger he inspires comes not from his positions, but from the tensions that modern American liberals bear within their own worldview.

My perspective of Paul comes from working with his staff in 2009-2010 on issues of war and the Federal Reserve. Paul was one of my then-boss Alan Grayson’s key allies in Congress on these issues, though on most issues of course he and Paul were diametrically opposed. How Paul operated his office was different than most Republicans, and Democrats. An old Congressional hand once told me, and then drilled into my head, that every Congressional office is motivated by three overlapping forces – policy, politics, and procedure. And this is true as far as it goes….

Paul’s office was dedicated, first and foremost, to his political principles, and his work with his grassroots base reflects that. Politics and procedure simply didn’t matter to him. My main contact in Paul’s office even had his voicemail set up with special instructions for those calling about HR 1207, which was the number of the House bill to audit the Federal Reserve. But it wasn’t just the Fed audit – any competent liberal Democratic staffer in Congress can tell you that Paul will work with anyone who seeks his ends of rolling back American Empire and its reach into foreign countries, auditing the Federal Reserve, and stopping the drug war.

Paul is deeply conservative, of course, and there are reasons he believes in those end goals that have nothing to do with creating a more socially just and equitable society. But then, when considering questions about Ron Paul, you have to ask yourself whether you prefer a libertarian who will tell you upfront about his opposition to civil rights statutes, or authoritarian Democratic leaders who will expand healthcare to children and then aggressively enforce a racist war on drugs and shield multi-trillion dollar transactions from public scrutiny. I can see merits in both approaches, and of course, neither is ideal. Perhaps it’s worthy to argue that lives saved by presumed expanded health care coverage in 2013 are worth the lives lost in the drug war. It is potentially a tough calculation (depending on whether you think coverage will in fact expand in 2013). When I worked with Paul’s staff, they pursued our joint end goals with vigor and principle, and because of their work, we got to force central banking practices into a more public and democratic light.

But this obscures the real question, of why Paul disdains the Fed (and implicitly, why liberals do not), and the relationship between the Federal Reserve and American empire.  If you go back and look at some of libertarian allies, like Fox News’s Judge Napolitano, they will answer that question for you. Napolitano hates, absolutely hates, Abraham Lincoln. He sometimes slyly refers to Lincoln as America’s first dictator. Libertarians also detest Woodrow Wilson, and Franklin Delano Roosevelt.

What connects all three of these Presidents is one thing – big ass wars, and specifically, war financing. If you think today’s deficits are bad, well, Abraham Lincoln financed the Civil War pretty much entirely by money printing and debt creation, taking America off the gold standard….

Modern liberalism is a mixture of two elements. One is a support of Federal power – what came out of the late 1930s, World War II, and the civil rights era where a social safety net and warfare were financed by Wall Street, the Federal Reserve and the RFC, and human rights were enforced by a Federal government, unions, and a cadre of corporate, journalistic and technocratic experts (and cheap oil made the whole system run.) America mobilized militarily for national priorities, be they war-like or social in nature. And two, it originates from the anti-war sentiment of the Vietnam era, with its distrust of centralized authority mobilizing national resources for what were perceived to be immoral priorities. When you throw in the recent financial crisis, the corruption of big finance, the increasing militarization of society, Iraq and Afghanistan, and the collapse of the moral authority of the technocrats, you have a big problem. Liberalism doesn’t really exist much within the Democratic Party so much anymore, but it also has a profound challenge insofar as the rudiments of liberalism going back to the 1930s don’t work.

This is why Ron Paul can critique the Federal Reserve and American empire, and why liberals have essentially no answer to his ideas, arguing instead over Paul having character defects. Ron Paul’s stance should be seen as a challenge to better create a coherent structural critique of the American political order. It’s quite obvious that there isn’t one coming from the left, otherwise the figure challenging the war on drugs and American empire wouldn’t be in the Republican primary as the libertarian candidate. To get there, liberals must grapple with big finance and war, two topics that are difficult to handle in any but a glib manner that separates us from our actual traditional and problematic affinity for both. War financing has a specific tradition in American culture, but there is no guarantee war financing must continue the way it has. And there’s no reason to assume that centralized power will act in a more just manner these days, that we will see continuity with the historical experience of the New Deal and Civil Rights Era. The liberal alliance with the mechanics of mass mobilizing warfare, which should be pretty obvious when seen in this light, is deep-rooted.

What we’re seeing on the left is this conflict played out, whether it is big slow centralized unions supporting problematic policies, protest movements that cannot be institutionalized in any useful structure, or a completely hollow liberal intellectual apparatus arguing for increasing the power of corporations through the Federal government to enact their agenda. Now of course, Ron Paul pandered to racists, and there is no doubt that this is a legitimate political issue in the Presidential race. But the intellectual challenge that Ron Paul presents ultimately has nothing to do with him, and everything to do with contradictions within modern liberalism.

Philip Weiss is Founder and Co-Editor of

This article originally appeared at here:

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Mondoweiss is a news website devoted to covering American foreign policy in the Middle East, chiefly from a progressive Jewish perspective. Mondoweiss is maintained by Philip Weiss and Adam Horowitz. Weiss lives in New York state and Horowitz lives in New York City.

5 thoughts on “Ron Paul Challenges Liberals On Love Of ‘Big Finance’ – OpEd

  • January 2, 2012 at 1:59 am

    With all the issues facing this nation, the unsupported BS about Ron Paul being a racist just goes to show how our media and politicians care more about a persons character than about the laws being passed in Washington. So much about the candidates and so little about the ongoing destruction of this country via NDAA, SOPA and so many other laws designed to control the masses. The media is a useless bunch of reality shows now. News reporting is a thing of the past. We are so lucky to have the Internet but, of course, with laws like SOAP, that may be under attack now.

    • January 2, 2012 at 5:21 am

      No, actually hey do care about a person’s character – they want someone without character that they can control and they hate someone with character and backbone, like Ron Paul.

      RP was the ONLY Republican to vote for the Martin Luer King holiday. He is the only Republicato my knowledge that has pointed out the racist aspects of the War on Drugs, a “war” on everyone’s freedom. And he, more than anyone else in either party operates from a strong personal conviction and principle that people be treated as individuals instead of being reduced to members of a group.

      Everyone should question why they don’t actually show the supposed racist quotes. I’ve seen 4 quotes which were very politically incorrect and stereotyped (although the context was the 1992 LA race riots). But they weren’t Klu Kux Klan stuff which is what his political enemies imply.

    • January 2, 2012 at 5:58 am

      One of the most telling pieces of evidence that Ron Paul is NOT a racist is the defense he received in a 2008 radio interview by the then (and current) President of the Austin NAACP:

      It is interesting to note that despite all the investigative reports in the media regarding the newsletter that he published and lent his name to, that none of them have seen fit to report this, much less follow up on this interview.

  • January 2, 2012 at 5:50 am

    This Is The Old BS About You Collectivists= All Power To The STATE= TOTAL GOVERNMENT= GLOBAL TYRANNICAL GOVERNMENT VS The Individualists= Freedom= Liberty= A limited republican form of government,Where The Individual governs themselfs by their own beleifs.


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