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Presidential candidate Ron Paul says he traces America's problems to the flawed monetary policy of the wealthy and secretive elite.

During a speech at the University of Washington on Thursday, Paul said the Congress and the Federal Reserve will not be able to stem the recession spurred by the home mortgage meltdown.

"The most important thing you can do is nothing," said the Texas congressman, who voted against the recent $146 billion economic stimulus package passed by the US House of Representatives.

The 10-term Texas congressman maintained that a series of wrong economic decisions by the Bush administration has led to a recession.

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