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 ...
It was a good bet.
“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?
Oh darn! Grammar Nazi time.
Sorry dude, what you say is 100% accurate. But how you say it makes you look a little “not quite up there.”
The ‘correct’ version is: “fewer and fewer people...”
Please don’t take this as a criticism. I write for a living, so I’m just a little more anal than most. :)
Otherwise, right on post.
Baloney. Gold shares are not ‘paper’. They have been excellent investments and will continue to be.
[Next step an opportunity to “come clean” and sell all your gold to Obama the government. ]
For a full history of the Fed, and how FDR stole the gold, go here. It’s long, but skip to the history.
http://www.futurnamics.com/fed.php
Nice tagline.
A disclaimer? What on earth for? Is investing in gold shameful? How is he not being truthful. The list of his holdings is right in front of your eyes? Or did you read this left wing trash article and swallow it hook line and sinker like a rube?
We own gold too. We have been investing in physical gold since 1997.
I don’t see a problem with this. The jacka$$ in the Whitehouse is forcing us to buy gold since he is clueless about fixing the economy.
Now it would really be news if he invested in California bonds.
If Paul was betting on gold, as a conflict of interest.
He would want the Fed to print money.
Everything he has said and done, is contrary to that.
Whatever my opinion of Ron Paul, it’s neither surprising nor inconsistent with his stated principles to find out he’s a goldbug.
Well, it’s all fine and good. He can certainly buy what he wants. But it gets a little tipsy when he goes around promoting buying something that he’s heavily invested in himself, and then promotes voting against a bill to keep us out of possible default, at which time he makes a ton of money in the event we default.
Tipsy, yes, makes your eyes twitch a little bit, but all perfectly legal and does not represent totally corrupt.
On the other hand the old weasel runs the nastiest campaign very similar to Obama trying to knock everybody else off the slate with weasly actions so he can run with little to none contest.
Why am I not surprised?
I am not a Ron Paul fan, but I see nothing wrong with him investing in gold stocks. It just goes to show that he “puts his money where his mouth is.” Love him or hate him, Paul has long been one of the most principled members of Congress. The notion that he voted against the debt deal just to boost his personal portfolio is beyond absurd. Typical liberal libel against a Republican
He needs his voice heard. Top of the ticket does not appeal to me. Head in the sand foreign policy is a no go.
I agree.
He already did. I have seen Ron lots of times pull out a gold coin from his pocket.
Paul is doing everything possible, to avoid gold skyrocketing.
This is a “concern troll” thread.
What’s more important, is why?
Who’s scared of Paul?
Early bird special or geriatric titty bar?
This isn't necessarily so...he's been complaining about our monetary policy forever...what's he supposed to do...go against his beliefs and be a sitting duck?
i.e. I hate our overspending, raising the debt ceiling just allows the rats to do it again and again...but I'm still trying to protect myself.
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