Category Archives: Ron Paul

Ron Paul on Gold: No One Knows Value; I #39;m Buying
April 23 (Bloomberg) -- Ron Paul, Former Congressman from Texas, discusses his views on gold, central banks, and the weakened Republican Party. He speaks on ...

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Ron Paul on Gold: No One Knows Value; I'm Buying - Video

RON PAUL WARNS AMERICANS OF COMING GLOBAL ECONOMIC COLLAPSE MARTIAL LAW
RON PAUL WARNS AMERICANS OF COMING GLOBAL ECONOMIC COLLAPSE MARTIAL LAW.

By: TheTheTruthChannel

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RON PAUL WARNS AMERICANS OF COMING GLOBAL ECONOMIC COLLAPSE MARTIAL LAW - Video

"When that 53,000 contracts sold in one sale, who did that? Was that the President's Working Group on Financial Markets, or somebody else?" Paul said.

Paul seemed to be referring to a comment that BullionVault Vice President of Business Development Miguel Perez-Santalla made to USA Today (USA Today: "Gold Badly Tarnished"), in which he told that paper that "one big seller at the Comex opening" sold 53,000 contracts, triggering the sell-off.

The President's Working Group on Financial Markets is actually a little-understood group that President Reagan created by executive order in March of 1988 as a response to 1987's "Black Monday" crash. Working under the Treasury Department, they periodically recommend reforms of the financial markets.

So did this secretive group, working under a government directive, purposely crash the market by engineering the sale of 53,000 gold contracts as former Representative Paul seems to suggests?

Highly unlikely, say some traders.

"It would be news to me, and a lot of people, if the government's hitting the open market like that," said Jeff Kilburg of KKM Financial. "It's a head-scratcher."

RBC Precious Metals Strategist George Gero said that "there was more to it" than any single sale.

"Since September, we lost open interest in gold steadily," as money "went to better-performing assets," Gero explained. "Gold has been a very poor performer all year, as big triple-digit stock up moves were a headwind."

Dennis Gartman, the editor and publisher of the the Gartman Letter, was similarly skeptical. "The gold market is filled with all sorts of conspiratorialist thinking," Gartman wrote to CNBC.com. "Do I think that the government trades futures in gold? Probably they do when panic hits, but I have my doubts that they want to be the creators of panic."

But the decline in gold has more than one culprit, according to Ron Paul, and he pointed his finger at venerable investment bank Goldman Sachs. The firm made a widely followed and wildly prescient call on April 10th to short gold. In retrospect, the call was itself pure gold, and came just as the shiny metal was about to embark on its worst two-day crash since 1980. After the gold short turned out to be very lucrative very quickly, Goldman reversed course on Tuesday, and instructed clients to cover their bearish bullion bets.

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Who Ron Paul Blames for the Gold Crash

Former Texas Rep. Ron Paul (R-TX) weighed in on Bitcoin, the controversial alternative digital currency, today onBloomberg TV with Erik Schatzker and Sara Eisen.

"To tell you the truth, it's little bit too complicated. If I can't put it in my pocket, I have some reservations about that."

Bloomberg TV interviewed Paul on a variety of topics.

Paul, who is known for being a goldbug, said he's"concerned about the erraticness of the dollar. The dollar is up, the dollar is down. We print a lot of dollars. The dollar gets devalued. That is really the concern. If people think the gold price up and down is a reflection of something wrong with gold, no, I say it is something wrong with the dollar."

Here's the transcript courtesy of Bloomberg TV:

Paul on whether he's concerned about the drop in gold:

"I am concerned about the erraticness of the dollar. The dollar is up, the dollar is down. We print a lot of dollars. The dollar gets devalued. That is really the concern. If people think the gold price up and down is a reflection of something wrong with gold, no, I say it is something wrong with the dollar. People have been expressing concerns over the past couple of months about gold, but compared to what? Compared to where gold went from when the Fed took over where it was $20 per ounce compared to what has happened in the past?...I remember in the 1970's when they finally allow people to own gold and it went from $35 to $200 rather rapidly, and then it lost 50%. Then it went up to $800. To compare a couple of months or a couple of weeks and forget about a bull market in gold price in relationship to the dollar for 12 years. I would say the comparison is not an authentic comparison. What you have to look at is the inflation. Inflation is an increased supply of money. Since 2008 they have quadrupled the supply of Federal Reserve credit and are buying $85 billion per month of treasury bills. At the same time last week they bought $60 billion. That is the inflation. That is the distortion of the market and that's why we're not getting economic growth."

On whether we're seeing the opposite of inflation right now:

"It depends on how you define it. Inflation is when you increase the supply of money. Bond prices go up. Stocks are going up. Housing prices are starting to go back up again. Education costs are going up, but the gross distortion is the effect that the inflation of the money does on the price of money and interest rates and how it causes economic problems and why you don't get economic growth. You have to look at the malinvestment and destruction that occurs when you mess around with the price of money. It's not just the CPI because the CPI is not reliable. The government fudges that as well. They change the way they measure it. Free-market economists say it is going up about 8%. A lot of deception going on out there. I was just talking to someone on getting social security, they're not happy with the purchasing power of the dollar and you can't tell me there is no inflation."

On what the real value of gold is:

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Ron Paul On Bitcoin: 'If I Can't Put It In My Pocket, I Have Some Reservations'

"You will not see economic growth until you liquidate the debt and liquidate the malinvestment out there," is the hard truth that former Congressman Ron Paul lays on Bloomberg TV in this wide-ranging interview. Paul is concerned at "the erraticness of the dollar... and its devaluation," explaining that, "people think the gold price up and down is a reflection of something wrong with gold; no, I say it is something wrong with the dollar." The topic gravitates to inflation, which Paul explains is far from missing as, "Bond prices go up. Stocks are going up. Housing prices are starting to go back up again. Education costs are going up," adding that, "CPI is not reliable." Paul is buying gold, believes "we are in as much trouble as Greece," and while fascinated by the free market nature of Bitcoin, he notes that while he doesn't fully understand it, "if I can't put it in my pocket, I have some reservations about that."

Paul on whether he's concerned about the drop in gold:

"I am concerned about the erraticness of the dollar. The dollar is up, the dollar is down. We print a lot of dollars. The dollar gets devalued. That is really the concern. If people think the gold price up and down is a reflection of something wrong with gold, no, I say it is something wrong with the dollar. People have been expressing concerns over the past couple of months about gold, but compared to what?

Compared to where gold went from when the Fed took over where it was $20 per ounce compared to what has happened in the past?...

I remember in the 1970's when they finally allow people to own gold and it went from $35 to $200 rather rapidly, and then it lost 50%. Then it went up to $800.

To compare a couple of months or a couple of weeks and forget about a bull market in gold price in relationship to the dollar for 12 years. I would say the comparison is not an authentic comparison. What you have to look at is the inflation. Inflation is an increased supply of money.

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Ron Paul On Bitcoin: "If I Can't Put It In My Pocket, I Have Reservations"

Ron Paul launches His "Ron Paul Institute for Peace and Prosperity"

By: Daniel McAdams

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Ron Paul launches His "Ron Paul Institute for Peace and Prosperity" - Video

Michael Bloomberg's group Mayors Against Illegal Guns and Ron Paul's new think tank will grade lawmakers based on their votes for gun control and foreign policy, respectively.

When Ron Paul officially launched hisnew think tankWednesday, the former Texas congressman also introduced a new ranking system for lawmakers based on their foreign policy votes.

[READ: Ron Paul to Launch Non-Interventionist Summer School]

"Everyone does it, and Congressman Paul has always wanted to do it," Daniel McAdams, the head of the newly formed Ron Paul Institute for Peace and Prosperity, told Whispers.

At the same time, senators were getting graded for the first time by New York Mayor Michael Bloomberg's gun control group Mayors Against Illegal Guns. The group said it would assign letter grades to lawmakers based on the high-profile gun vote on Wednesday and on most future votes on gun legislation.

The practice of grading members of Congress stretches back many decades, starting with groups like the Americans for Democratic Action, which has released its "annual voting records" to measure lawmakers on their political liberalism since the group was founded in 1947. In the 60 years since, a number of conservative groups have developed their own successful grading systems, including the National Rifle Association, which grades lawmakers based on how pro-gun their policies are, and the Club for Growth, which issues an annual scorecard to determine who are the most conservative members of Congress. Today, it seems that most advocacy groups have some kind of grading system in place to name and shame lawmakers.

[WHISPERS: Mayor Bloomberg's Anti-Gun Behemoth Is Getting Bigger]

"Our politics have become such intensely special interest that all these special interest groups are doing ratings on their own issue," Allan Lichtman, an American political historian and professor of history at American University in Washington, D.C., tells Whispers. "They're using it as a carrot and stick to reward their friends and punish their enemies. It gives them something concrete to point to."

That doesn't mean these grading systems are always effective. Lichtman says that while it might be a good tool to raise money, it's unlikely lawmakers are ever moved to change a position on an issue based on scores alone. In local primary elections, however, he says rating systems can make a difference.

"These could open you up to primary attack that you're not sufficiently pro-choice, pro-life or pro-gun control," Lichtman says. "So they can be very effective devices ... in these low-visibility elections."

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Ron Paul, Mayor Bloomberg's Groups To Start Assigning Grades To Name And Shame Lawmakers

Ron Paul launches Institute for Peace and Prosperity
For the first time since leaving office, Ron Paul returned to the spotlight this week. The recently retired congressman launched a new foreign-policy educati...

By: RTAmerica

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Ron Paul launches Institute for Peace and Prosperity - Video

Ron Paul speaks at opening of Institute for Peace and Prosperity
Although Ron Paul retired from politics, he hasn #39;t left the conversation: the former Texas congressman has launched his new think tank -- an institute that w...

By: RTAmerica

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Ron Paul speaks at opening of Institute for Peace and Prosperity - Video

By Julie Ershadi Posted at 7:31 p.m. on April 17

Reps. Walter B. Jones, R-N.C., and John J. Duncan Jr., R-Tenn., and ex-Rep. Dennis Kucinich, D-Ohio, will help steer the direction of the newRon Paul Institute for Peace and Prosperity as members of its board, they announced Wednesday at a Capitol Hill event.

Its a natural instinct for people to want peace and prosperity, ex-Rep. Ron Paul, R-Texas, the institutes CEO, said during the event. The institute is a nonpartisan educational organization aimed at capitalizing on the groundswell of young people who have supported Pauls presidential bids and anti-war position.

Rep. Thomas Massie, R-Ky., who also spoke at the event, counted himself a member of that young population and said Pauls appeal stems from his honesty and principles, particularly in the votes he took as a congressman.

More than once weve stood on the floor, I think, since Congressman Paul left and wondered, What would Ron Paul do in this situation? Massie said.

Duncan discussed the pressure he faced to vote for authorization of the invasion of Iraq in 2003, including a White House briefing with then-National Security Adviser CondoleezzaRice, CIA Director George Tenet and CIA Deputy Director John McLaughlin. Duncan said that at the time, they could not convince him that Saddam Hussein was a threat to the United States.

I think it is so sad what weve done through the years, so Im in very strong support of what Dr. Paul is trying to do here, he said.

Daniel McAdams, executive director of the Ron Paul Institute and foreign policy adviser to Paul during his time in Congress, said the institute will monitor lawmakers votes and issue assessments in the form of a Peace and Prosperity Scorecard.

The institute will also award student writing on foreign affairs and hopes to launch a Peace and Prosperity summer school, McAdams said.

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Bipartisan Anti-War Lawmakers On Board at New Ron Paul Institute