Ron Paul comments on James Rickards 'Currency Wars'

Friday October 21, 2011. WHO 1040AM Des Moines, Jan Mickelson interviews Dr Ron Paul on various topics. Full interview here: http://tinyurl.com/3fp7a5e

This excerpt related to James Rickards 'Currency Wars' book due out November 10, 2011. Paul suggests implementing a form of 'Greshams Law' in order to gradually adopt ("less chaotic" transition to) sound money.

Link to Rickard's new book: http://www.amazon.com/Currency-Wars-Making-Global-Portfolio/dp/1591844495

Uponroof: Of course there's the central bank community, which has at its disposal all the money in the world (literally) who will fight any such fiat attack. But assuming sanity prevails (with or without Paul's election) is it fair to say that parallel currencies (gold versus fiat) would heighten awareness of gold... which would then encourage accumulation and saving (not spending) of same? YES (this is Gresham's Law). Could we then expect much higher gold prices as we morph through government sponsored fiat depreciation to gold appreciation? YES.

Fact is we will get there with or without government sponsorship. Like gravity some laws will not be denied. Undischargeable debt formerly promoted... even counted as WEALTH, is the lie gold exposes.



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[uponroof]

Ron Paul, commenting on James Rickard's new book, is suggesting a form of Gresham's Law through which to gradually bring back sound money. I'm interested in the dynamics of heightened gold during such intervention. According to Gresham we should expect higher gold prices as the population uses (spends) fiat to buy and save gold. That's happening now to some extent but imagine the multiplier enacted if it's pushed from the public sector, not to mention globally interconnect investors.

[trapspeed97]

Do I hear geese calling at 2:08?

[lindor1695]

@Icriedtoday I was wrong, gold was $20.67 when the President signed the order.

Exc. Order 6102.

[Icriedtoday]

@lindor1695 Jim Rickards (Author of "Currency Wars') says "Nope, they didn't. It was just as effectively taken out of circulation, however. Either way, it doesn't matter. If you cannot use it, then what's the value of ownership?

[lindor1695]

@Icriedtoday Check out "The Great Depression" by Murry Rothbard. According to him the physical gold was in fact collected at 25 or 26. dollars an ounce. Then Rosevelt increase it to $35.00 an ounce. The Government stole the peoples wealth. U.S. citizens are still getting fleeced.

[ytgv3fc7]

@deshaebeasley until bitcoin can work with zero electricity and zero dependence on computing manufacturing behemoths, bitcoin is no good. Requiring a network is even worse.

[deshaebeasley]

Political solution- Repeal the 17th amendment and add a direct democracy to our constitutional republic by adding an online voting system to the senate where senators continue to write bills but vote publicly along side the citizens (to avoid fraud

[deshaebeasley]

Economic solution- Create a US debt-free currency (ex. the greenback). Print it at a 1:1 ratio with the current Federal Reserve notes to have a smoother transition. Cancel the debt to the Federal reserve and work out a deal with foreign creditors like China. Legalize alternative forms of money/currency like Gold, silver and Bitcoin.