Contact us
CALL US NOW 1-888-GOLD-160
(1-888-465-3160)

Ron Paul: You Can’t Run a World Like This (Video)

  by    0   0

Last month, Federal Reserve chair Janet Yellen made a bold prediction, saying an economic meltdown like the one we saw in 2008 will not likely happen again “in our lifetime,” because banks are “very much stronger.”

Ron Paul begs to differ.

In fact, during an interview on World Alternative Media, the former congressman said Yellen’s comments should probably make us more than a little nervous because, “central bankers are always wrong on their predictions – especially before a bust.”

What she says shouldn’t reassure anybody.”

Paul said we could see a major crash within a year. Or it could take longer. There’s really no way to predict the timing of an economic meltdown. But all of the elements are in place for a major crash.

You can know about a bust. You can know about a correction. You can know about all the sins overspending and printing up money. But there is a subjective element to when people give up confidence … When is the day going to come when people become more realistic and realize that we’re dealing with money that has no intrinsic value to it? There’s too much debt, too much malinvestment, and it will come to an end. Something that’s too good to believe usually is, and it usually ends. So, that’s what we have to anticipate. But one thing for sure, we’re getting closer every day, and it may come this year, but it might take another year or two.”

Paul noted that Americans tend to feel confident that everything will be OK in the long run. After all, the US has the largest economy in the world. The US dollar serves as the world’s reserve currency. America has a mighty military. But Paul says all of that isn’t enough.

The real test is can it sustain unbelievable deficit financing and the accumulation of debt, and it can’t. You can’t run a world like this.”

Paul said the longer it takes for a crash hit, the better it is for us. It allows us time to prepare. And one thing he recommends is buying gold and silver.

One thing for sure – when a government embarks on deficit financing and then monetizing the debt the value of commodities, especially gold and silver, generally goes up. I recognized this in 1971 and started buying gold at that time. Some people made fun of me, and they still do. They say, ‘Oh yeah! You’re missing out on the stock market boom.’ But you know, if you look at gold at $35 an ounce and now around $1,250 an ounce, it wasn’t the worst form of protection. And I think that will continue. It won’t be a tragedy if you get protected and the calamity isn’t quite as bad as you think.”

Get Peter Schiff’s most important Gold headlines once per week – click here – for a free subscription to his exclusive weekly email updates.
Interested in learning how to buy gold and buy silver?
Call 1-888-GOLD-160 and speak with a Precious Metals Specialist today!


Related Posts

Peter Schiff Wants to Go Double or Nothing on His 2006 Bet With Art Laffer (Video)

Economist Art Laffer owes Peter Schiff a penny after losing a 2006 bet. Now Peter is ready to go double or nothing. Peter won the penny on a bet he made with Laffer on Larry Kudlow’s TV show back in 2006. Peter said the economy as going to crash. Laffer said the economy was doing […]

READ MORE →

Peter Schiff: The Trade Is Get Out of the Dollar and Look at Gold (Video)

Right before the Federal Reserve raised interest rates for the last time in December 2018, Peter Schiff predicted the next move would be a rate cut. At the time, Fox Business anchor Liz Claman promised she would bring Peter back on if he was right. He was. And she did. The Fed cut rates for […]

READ MORE →

Peter Schiff: Gold Will Go Much Higher Than $5,000 (Video)

In a podcast last week, Peter Schiff said we have all the elements of a gold bull market. This week, he appeared on Kitco News and talked with Daniela Carbone about what’s going on with gold. Peter said he thinks we’re at the beginning of a breakout from the consolidation we’ve seen in the market […]

READ MORE →

Peter Schiff: If You Understood What This Means, You Would Be Buying Gold as Fast as You Can

Gold has risen to six-year highs in recent weeks as the Federal Reserve has pivoted back toward an easy-money monetary policy. Markets widely anticipate a Federal Reserve interest rate cut this week and the economy appears to be slowing. Peter Schiff recently appeared on RT Boom Bust to explain why he believes this is the […]

READ MORE →

Peter Schiff: Why Would Any Country Store Its Gold in the US? (Video)

Last week, we reported that Poland added 100 tons of gold to its reserves through the first half of the year and that it plans to move at least half of that hoard out of London to National Bank of Poland vaults in Warsaw. Although officials haven’t said so publicly, Poland’s move to repatriate part […]

READ MORE →

Comments are closed.

Call Now