Yesterday was Ron Paul’s 85th birthday and I thought it would be apropos to use this Fun on Friday space to pay him a little tribute.
Foreign central banks have been stocking up on gold for months. According to the World Gold Council, a dozen central banks have increased their gold reserves by at least 1 ton through the first eight months of 2019. This continues a trend we saw through 2018. In total, the world’s central banks accumulated 651.5 tons of gold last year. The World Gold Council noted that 2018 marked the highest level of annual net central bank gold purchases since the suspension of dollar convertibility into gold in 1971, and the second-highest annual total on record.
Peter Schiff has talked about central bank gold-buying. He has noted that the US went off the gold standard in 1971, but he thinks the world is going to go back on it.
Fundamentally, gold and silver are money. But most governments treat precious metals as a commodity. They don’t accept it as payment. Worse than that, they tax it. Think about the absurdity of this policy.
Your Trump tax cut isn’t going to be quite as big as you might have thought.
According to a report by the Wall Street Journal, a new inflation measurement included in the GOP plan and recently implemented by the IRS will cut into your tax cut savings in 2019.
Ron Paul warned you about this during the debate over the tax cuts.
The mainstream is giddy about the “booming economy.” We have rising stock markets, continued job creation and solid GDP growth. But Ron Paul recently appeared on CNBC Futures Now and threw a big bucket of cold water on the mainstream narrative. He said we are barreling toward a recession.
Earlier this month, Peter Schiff said Federal Reserve policy is pushing us toward a no-growth, high-inflation economy.
Ron Paul digs down to the root causes of our economic woes in this in-depth look at the US financial system and the need for reform. Paul says a monetary crisis is coming. What will replace the dollar? Paul makes a strong case for gold.
Ron Paul recently appeared on CNBC Futures Now and said the stock market is destined to go down – perhaps as much as 50%.
Because of the enormous amount of debt and monetary manipulation foisted upon the economy by the government and the Federal Reserve.
As Ron pointed out, it’s hard to keep up with all of the distortions in the marketplace thanks to a decade of Federal Reserve easy money.
How do you cover all the bubbles? The nature of what the Fed does by manipulating interest rates to lower than the market rate, everything has to be affected to some degree by a bubble and a distortion and a malinvestment, and excessive debt.”
The Federal Reserve manipulates interest rates, creates money out of thin air, blows up asset bubbles and generally wreaks havoc on the economy. But some people have found an even more insidious problem with the Fed.
It’s not “diverse” enough.
Historian Tom Woods offered up some pretty sharp observations about this latest “outrage” in a recent email. And lest you think this is just a screed against left-wing social justice warriors, he has some sharp words for Republicans too. There’s pretty much bipartisan agreement when it comes to the “indispensable” nature of the Fed.