Paul builds campaign on doomsday scenarios

WASHINGTON, Iowa (Reuters) - The man who might win the Republican Party's first presidential nominating contest fears that the United Nations may take control of the U.S. money supply.

Campaigning for the January 3 Iowa caucuses, Ron Paul warns of eroding civil liberties, a Soviet Union-style economic collapse and violence in the streets.

The Texas congressman, author of "End the Fed," also wants to eliminate the central banking system that underpins the world's largest economy.

"Not only would we audit the Federal Reserve, we may well curtail the Federal Reserve," Paul told a cheering crowd of more than 100 in this small Iowa city last week.

Paul, 76, is facing questions for racist writings that appeared under his name two decades ago, which he has disavowed as the work of "ghost writers."

But Paul's dark-horse presidential bid ultimately could founder, analysts and others say, because of increasing questions about how his unorthodox vision of government would work in the real world.

Republican rivals criticize his anti-war, isolationist approach to foreign policy as dangerously naive, and object to his plans to slash the Pentagon's budget and pull back U.S. troops from overseas.

Non-partisan analysts say his economic proposals - drastic spending cuts, elimination of the Federal Reserve and a return to the gold standard - would plunge the country back into recession.

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