Posted on 08/26/2011 6:14:09 PM PDT by SeekAndFind
For decades, Rep. Ron Paul, R-Texas, has warned that our fiat currency will collapse around us, leaving everyone in economic shambles. Gold, he says, is the surest path back to sound money.
In a CNBC interview earlier this month(during which host Joe Kernen misidentified Paul as not being a gold investor), Paul extolled the virtues of gold as protection against the continuing ripples of the global financial crash. "I think what we're dealing with is the end of the dollar reserve standard," Paul said. "This is probably a bigger problem than the world has ever faced before." But, fittingly, Paul has invested in gold--heavily. He owns millions of dollars in gold mining interests, Barron's Jim McTague recently reported, calling Paul's portfolio a successful bet against the U.S. economy:
In his most recent financial disclosure, which covers the year 2010, Paul had $1.6 million to $3.5 million in gold-mining stocks. He also has a stake in three bear-market funds--and has for many years.
In all, Ron Paul's portfolio amounts to a super-bearish bet against the U.S. economy. If the country had defaulted on its debt earlier this month, he likely would have made a bundle. The congressman voted against House Speaker John Boehner's [R-Ohio] plan to lift the nation's $14.3 trillion spending cap.
(Excerpt) Read more at nationaljournal.com ...
Paul’s right about the gold standard for the dollar. The wheels came off after Nixon took us off a fixed standard.
So Ron is not free to invest in what he thinks is safe?
So now investing in gold is betting against the US economy?
So now being patriotic is sticking with worthless fiat money printed out of thin air, and less and less people want to buy our debt?
Given who’s in the White House tanking our economy on purpose, we’re all just supposed to go down with the ship and go broke when inflation and hyperinflation occur, because Barry wants to make everyone equal (ie poor) and can’t do it fast enough?
Right now he is my first choice. I don’t agree w everything he says, but on econ issues he is solid.
The dollar went from the gold standard to petrodollars. IE the worth of the dollar was pegged to oil. And was the standard trading currency for oil.
Now that the dollar is weak and being printed like water and the debt is monstrous and only getting bigger, that’s where many oil nations want to peg trading to other currencies.
At the very least he should have a disclaimer that he is a big gold investor. Guess there is a double standard for Paul. He doesn’t have to be honest.
Hoarding/having gold is unpatriotic.
Next step an opportunity to "come clean" and sell all your gold to Obama the government.
Then an opportunity to turn it in without penalty.
Then seizure at gunpoint.
For goodness sake, this retard thinks that George Bush was personally involved in 9/11. He thinks Iran would be a prudent keeper of nuclear weapons. The list goes on.
The man is a freakin’ nutzo retard.
Huh? Hasn’t Ron Paul always openly advocated for gold? How is this inconsistent with his normal positions?
RE: So Ron is not free to invest in what he thinks is safe?
The fact does he IS investing as he is proves that he is as FREE as anyone else to do what he wants with his money.
Why would you put most of your money in gold if you don’t believe that the US Dollar is going to be debased?
If a true conservative wins the WH, I would love to see this guy put in charge of the Fed. Democrat and Republican heads would be exploding everywhere!
Its not “a bet against the U.S. economy”, its a realization that funny money is flying out of Obama’s a$$ into circulation faster than we can create wealth- like trillions of times faster.
Since when is reality based investment a bet against the economy?
“”I don’t agree w everything he says, but on econ issues he is solid.””
He’s right on domestic and economic policies but I part with him on international as I’m sure most people do. He’s pretty whacky when it comes to international problems. But he could be right - keep our nose out of everyone else’s business. Nothing wrong with that except when it comes to Israel and he’s way off base on Iran.....I wonder if he’d like to backtrack on his statements from the last debate regarding Iran’s nuclear ambitions.
I guess we’ll see in the next debate. Sure hope it’s a better debate than the last one. I don’t want to see Chris Wallace on the panel the next time.
bttt
As much as I dislike Ron Paul and his views (a LOT) I find it hard to castigate someone who invests their money in a way that indicates they think the economy is going to do poorly, and they want as much of their money to survive.
What the heck is he supposed to do?
Looks to me like Ron Paul owns a lot of PAPER!
Physical gold is the only thing to own, if you want to OWN gold.
If Ron Paul owns physical gold, you can bet he’s not going to tell anybody about it. He may be a bit odd at times, but he’s not stupid.
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