Rand Paul: “Today we saw some financial fireworks on the markets. The Dow Jones average was down 350-some points, gold was up $32…”

“Today we saw some financial fireworks on the markets. The Dow Jones average was down 350-some points, gold was up $32, oil was up another $5, and there's a lot of chaos out there; and everyone is worried about $4-a-gallon gasoline. I don't think there is a clear understanding exactly why that has occurred. We do know that there is a supply and demand, there's a lot of demand for oil. The supplies may be dwindling. But there are other reasons for high costs of energy. One is inflation. For instance, to pay for the war that has been going on and the domestic spending, we have been spending a lot more money than we have. So what do we do? We send the bills over to the Federal Reserve to create new money. In the last 3 years, our government, through the Federal Reserve and our banking system, created $4 trillion of new money. That is one of the main reasons why we have this high cost of energy in $4 gallon gasoline. But there is another factor that I want to talk about tonight. And that is not only the fear of inflation and future inflation, but the fear factor dealing with our foreign policy. And in the last several weeks, if not for months now, we have heard a lot of talk about the potentiality of Israel and/or the United States bombing Iran. And it is in the marketplace, and it's being bid up. The energy crisis is being bid up because of this fear. It's been predicted if bombs start dropping, that you're going to see energy prices double or triple.”