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To: OrthodoxPresbyterian
Actually, Ron Paul does not propose an immediate transition to the Gold Standard. He believes that a return to monetary solvency must be accomplished incrementally, and his opening salvo would simply be the elimination of all Sales or Capital Gains Taxes on Gold and allowing Payment in Gold as Legal Tender in Satisfaction of Debts. In other words, allowing Gold to (at least in a minimal way) compete with Federal Reserve Notes as "Money", and moving forward from there as appropriate UNTIL a full restoration of the Gold Standard is monetarily possible.

This is the problem. A gold standard is an idea whose time has come and gone. I know that it feels good to have money that is actually worth something, but as history has shown that is a bad idea. A little inflation (devaluation of the currency) is actually a very good idea. It promotes growth and investment. A currency that increases or maintains its value is very harmful to the economy, because hoarding becomes a viable option and the economy comes to a grinding halt.

And Ron Paul proposes NO restrictions on Trade. He's one of the most ardent Free-Traders in Congress. Rather, he proposes the abolition of Multinational Trade Authorities which infringe on US Sovereignty, and the reduction of Tax and Regulatory burdens on US Industry (so that American Workers can better compete).

That isn't what I got out of reading some of his stuff, but if that is the case, I agree 100%. Like I said, I am inclined to vote for him, bad fiscal policy and all.

67 posted on 03/30/2007 7:56:20 AM PDT by LeGrande (Muslims, Jews and Christians all believe in the same God of Abraham.)
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To: LeGrande
This is the problem. A gold standard is an idea whose time has come and gone. I know that it feels good to have money that is actually worth something, but as history has shown that is a bad idea. A little inflation (devaluation of the currency) is actually a very good idea. It promotes growth and investment. A currency that increases or maintains its value is very harmful to the economy, because hoarding becomes a viable option and the economy comes to a grinding halt.

You're certainly entitled to your beliefs. Would you OBJECT to Ron's initial proposal for a total elimination of all Sales and Capital Gains Taxes on the exchange of Gold? If you're right, and Gold is no longer suitable as Money but only as an Investment -- he's proposing a 100% Tax-Free Investment Commodity. Surely a Savvy Trader could make use of that where appropriate.

That isn't what I got out of reading some of his stuff, but if that is the case, I agree 100%. Like I said, I am inclined to vote for him, bad fiscal policy and all.

Ron Paul has ALWAYS supported Free Trade, and openly declares himself a "Free Trader". He believes that US workers and industries are perfectly able to compete if tax and regulatory burdens are reduced domestically, and he opposes Protectionism. His beliefs are Constitutional; he opposes Multinational "Trade Authorities" which can infringe upon US Sovereignty. That is his position.

79 posted on 03/30/2007 8:09:44 AM PDT by OrthodoxPresbyterian (Please Ping or FReepMail me to be added to the Great Ron Paul Ping List)
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