This is basic cause and effect in action, my friends: Gold hit $1,000/oz. today, while investors and news anchors are busy acting surprised that the markets are crashing after The Federal Reserve was nice enough to print another $200 billion of imaginary money.
Here’s what Ron Paul had to say to Congress about gold and The Federal Reserve back in April of 2006, I highly encourage you to read the full statement:
“Holding gold is protection or insurance against government’s proclivity to debase its currency. The purchasing power of gold goes up not because it’s a so-called good investment; it goes up in value only because the paper currency goes down in value. In our current situation, that means the dollar.
…The Fed tries to keep the consumer spending spree going, not through hard work and savings, but by creating artificial wealth in stock market bubbles and housing bubbles. When these distortions run their course and are discovered, the corrections will be quite painful.
…If ever there was a time to get a handle on what sound money is and what it means, that time is today.”
In case you’re somehow still oblivious to this fact: Ron Paul knows his s—t when it comes to economics. So once again, I say to my fellow citizens: THIS COUNTRY NEEDS RON PAUL AS PRESIDENT, or we’re f—ked, quite simply.
Dr. Paul has been speaking out about the necessity of a sound monetary system for years. Decades even. Just yesterday he made these comments to the House of Representatives regarding the 2009 Federal Budget:
“Mr. Chairman, I am pleased to address the House tonight about the budget because there has been a lot of concern expressed here today on both sides of the aisle about the kind of financial trouble we’re in. And there’s no doubt about that. But sometimes I think we go back and forth spending more time blaming each other rather than dealing with the real problem.
One of the contentions I’ve had about the budget is that we look at it as an accounting problem rather than a philosophy problem because the spending occurs because of what we accept as the proper role of government. And right now, it’s assumed by the country as well as the Congress that the proper role of government is to run our lives, run the economy, run the welfare state, and police the world. And all of a sudden, it puts a lot of pressure on the budget.
Today, the national debt is going up almost $600 billion. And the economy is getting weaker, there’s no doubt about it. We’re in a recession, it’s going to get much worse, which means that the deficit is going to get a lot worse. And I’m predicting within a couple of years, it will not surprise me one bit to see the national debt, the national obligation for future generations to rise in 1 year three-quarters of $1 trillion. And that is a very possible number.
Continue reading ‘President Ron Paul = Good as Gold’
