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To: SJackson
****ron paul wants to bring back the gold standard because he owns shares in numerous gold mines and trading companies. It’s a get rich scheme just like al gore and his “global warming” hysterics so sheeple buy carbon credits from his company.

I’m not sure that’s an issue, but he’s clearly a goldbuy, and if he were a dem of any credibility, yes, that would be an issue. ****

You anti Paul people seem to know about as little about the gold standard as you do about foreign policy. Gold is a safe haven in inflationary times. As a long time poster on Jude Wanniski’s economic site and a poster on the site that took its place after Mr. Wanniski’s death, I can tell you that there are a lot of people who believe in the gold standard, or at least in the price of gold to predict inflationary pressures.

Gold stocks would not benefit from a return to the gold standard as that would fix the price of gold, in terms of dollars. However, it would stop the inflation by the Fed, which is a hidden tax on everyone. But which applies mainly to the lower class.

281 posted on 09/27/2007 8:17:34 PM PDT by jmeagan (Our last chance to change the direction of the country -- Ron Paul)
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To: jmeagan; SJackson
"Gold stocks would not benefit from a return to the gold standard"

How can that be true? The value of the U.S. gold reserve (as with all other industrial nations) is a tiny fraction of the value of the U.S. money supply (M3). For any government to return to the gold standard (back their money with gold) would require that they purchase HUGH amounts of gold to match the value of the money supply. The value of gold will explode! Here's some numbers:

$753 billion of American currency in circulation as of Dec. 18, 2006
[ just currency w/o all of M3 (checking & savings accounts, money market accounts, CDs...]
Source

U.S. gold reserve 260 million ounces (8,150 tons) in December 2006
Source

9/27/07 price of gold $735 per oz.


That means JUST to back up currency with gold, America needs $753 billion of gold
- which @ $735/oz = 1,024 million ounces.

Having only 260 million ounces of gold on reserve covers only 1/4 of the currency in circulation. We would need to buy 764 million more ounces (23,875 tons) or quadruple the supply.
* * More than the total reported gold reserve of all other countries combined (22,000 tons).
Source

And that's only for the currency portion (about 1/10th) of the entire Money Supply (M3).

Does Ron Paul see himself as a future gold equivalent of "oil sheiks"?

297 posted on 09/28/2007 9:04:10 AM PDT by drpix
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To: jmeagan

“You anti Paul people seem to know about as little about the gold standard as you do about foreign policy.”

We “anti-paul” people know a hell of a lot more about foreign policy than your pathetic little hero does.

IF your pet village idiot somehow gets elected, and he brings all of the troops home, the terrorists WILL see it as a sign of weakness and they WILL attack us again and again and again on our own soil.

Isolationism didn’t work prior to WW1 nor did it work prior to WW2.

Letters of marque has been outlawed by international treaties. So what will be the “blowback” from that policy?

Your senile hero thinks our foreign policy for the last 50 years has caused the blowback that resulted in the 9/11 attacks. He fails to realize that our policies has nothing to do with the war that we’re fighting. To the muslims we are “non-believers”, and according to the koran we are to be killed.

“However, it would stop the inflation by the Fed, which is a hidden tax on everyone.”

Uh huh

You mean all that intrest the Fed collects that gets dumped into the treasury each year?


316 posted on 09/29/2007 1:44:43 PM PDT by 2CAVTrooper (A ron paul supporter called me a traitor and said I should be executed for not supporting him)
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