Ron Paul: Making Imperialism Great Again?

Authored by Ron Paul via the Mises Institute,

It did not take long for President Trump to change the reason for sending the US military to “arrest” Venezuela President Nicolás Maduro and his wife. The allegation that President Maduro ran a drug cartel was front and center in the months leading up to President Maduro’s “arrest.” Afterwards, President Trump said the invasion was about Venezuela’s oil and announced plans for the US government to send American oil companies into Venezuela.

About a week after the invasion, President Trump had a meeting with executives from American oil companies to discuss plans for Venezuela. Some of the companies’ executives at the meeting were less than enthusiastic about developing Venezuelan oil. One reason for this is that, since the Venezuelan government nationalized oil activities twenty years ago, fracking has made the US the world’s leading producer of oil and natural gas. Rebuilding the oil industry in Venezuela could cost as much as a billion dollars for an uncertain payoff. Among the complications, Venezuelan oil does not easily flow though pipelines unless it is cut with solvents, making it more expensive to transport.

In his first press conference after the Venezuelan first couple was seized, President Trump said: “We are going to run the country until such time as we can do a safe, proper, and judicious transition.” He later stated that Maduro’s successor Vice President Delcy Rodriguez would “pay a very big price, probably bigger than Maduro,” if she does not adequately fulfill the US government’s demands.

Following the invasion of Venezuela, there have been suggestions that President Trump will direct the US military to invade other countries as well. For example, Secretary of State and National Security Advisor Marco Rubio said, “if I lived in Havana and I was in the government, I’d be concerned.”

To no one’ s surprise, Senator Lindsey Graham was delighted by the possibility that Venezuela was just the first of many regime change wars President Trump will wage. Senator Graham even got President Trump to autograph a Make Iran Great Again hat. Many Iranian victims of the Shah of Iran’s secret police might disagree with Senator Graham on whether having the CIA install another puppet government in Iran will make that country great.

President Trump’s newfound love of regime change wars may be one reason why he is seeking to increase the military budget to 1.5 trillion dollars. President Trump claims that tariff revenue can fund the increase, but that is simply not possible. The majority of the increase in spending would come from other taxes, including the Federal Reserve’s regressive and hidden inflation tax.

A recent poll by the Pew Research Center found that there is much less support for an “activist” US foreign policy among Americans under 50 than among older Americans. This is the case among both Democrats and Republicans. In fact, the differing view on foreign policy among younger people was a major factor behind President Trump’s support from younger people in 2024. Continued betrayal by President Trump of his no more regime change wars pledge will cause the president and the Republicans to lose support among younger voters.