by Ron Paul
Last week I discussed how sound money contributes to peaceful relationships around the world. It is not gold, in and of itself that excites me, but the many benefits of sound money. Another benefit is financial security.
Can sound money give you financial security? There is something very comforting in knowing that what you earn today will retain its purchasing power in the years to come. Indeed, the same silver dime that bought a loaf of bread in the 1960’s can still buy a loaf of bread with its precious metal content – which is worth about $1.00 today. An ounce of gold has always been about evenly exchangeable for a finely tailored men’s suit, which these days is roughly $800. And in these days of fluctuating gas prices, when priced in gold, oil has been stable.
Meanwhile, since the creation of the Federal Reserve, the fiat dollar has lost 94% of its purchasing power. The erosion of purchasing power rapidly accelerated when it was completely uncoupled from gold in 1971. This sort of fluctuation in the medium of exchange creates a lot of uncertainty in the marketplace and necessitates that you either take extraordinary defensive maneuvers, or face financial ruin. Trusting in government for financial security in retirement is not a safe option.
Indeed, a recent study by the Consumer Bankruptcy Project shows that bankruptcies among those 75 and older has more than quadrupled since 1991. This represents wealth and savings that have been eroded by inflation, and trust in entitlement promises that were more fantasy than reality. Even with the pittance that social security pays to seniors, it is bankrupt and bringing the economy to its knees. It is no wonder that many in the younger generations want no part of it, and they should not be forced into a failed system.
On the other hand, holding physical gold can defend against aggressive government monetary policies that threaten to inflate away the value of your life savings. During the hyperinflation in post WWI Germany, what used to be a comfortable nest egg was suddenly the value of a postage stamp. If one held just a portion of their savings in precious metals, the crisis was greatly softened. Gold will never be worth nothing, even if the exact price fluctuates. There is a famous photograph, however, of a German woman during this time period burning piles of tightly bound banknotes to keep warm.
Imagine if the money you earned had honest, stable value, or even appreciated like an investment! No such special measures, like converting dollars to gold, would be required to ensure that your savings would sustain you in your golden years. That is the way it could be and is supposed to be. However, the government’s thirst for power will not be easily, or cheaply, quenched. Fiat currency is one tool governments have to extract wealth quietly from the working class. It is time for the people to wake up to this ruse and look to the Constitution to restore sound currency.
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A dollar for a loaf of bread today ??? Are you kidding – try $2.50 !!!
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http://www.monterary.org
American Monetary Institute
Check it out!
Cheers!
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Dr. Paul,
Your honest public service has already earned you a place in history. However, you now have a chance to earn your eternal place in history among the greatest politicians the United States will ever know. You are closer to abolishing the Federal Reserve than anyone has ever been. I will continue to follow your progress with my fingers crossed.
Please do not fail. The cost of failure is too great.
Respectfully,
James Woodworth
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In real life, wealth erodes. Properties decline, food spoils and rots, cars rust, etc. Money is based on these plus the promise of people to work to earn wealth for themselves and others. And people are notoriously unpredictable in their ability to work to create wealth.
If real goods rot and the promises of real people in crating wealth are not reliable, it is very hard to expect money not to do the same.
But having said that, stabilizing the value of money has value if and only if governments and banks cannot arbitrarily dilute it by creating it by fiat. Not going to happen…
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I wanted to comment and thank the author, good stuff
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PeopleSearches.com
http://www.PeopleSearches.com
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Gold in it’s self is only worth what anyone is willing to pay for it ..However it has something our present system lacks…IT is; it’s own limiting factor ,as it takes time to procure it from the earth…Presently they just print worthless paper to NO end ,which gives the GOV’T cart-blanch spending abillities…Our present backing is ONLY “our word” & backed up by the fruit of future labor…GOLD IS a form of check & balance, on run away spending…
Don’t you think we need that ???Where is the backing for a NEW healthcare system coming from ??..They stole my SSI,my 401K twice,just gave away trillions and now want healthcare.???.Sounds to me like Socialism at it’s best …Smells like, tastes like & looks like: IT is socialism…”SO LONG” to a free people…They do not want to be free anymore…They LOVE slavery that they all longed to be rid of, in their rehtoric, but not in their heart…ANY real Patriots left ???
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The only problem I have with using gold as a form of currency is this:
It is ONLY shiny metal.
The human race has come so far in the last few thousand years, don’t you think it’s time we stopped placing so much value on shiny objects? (Including gold, silver, diamonds, jewels, etc) Gold and diamonds have great industrial uses but it is time we stopped placing so much value on them. Place great value on gold if you want but try this: Explain to a child why gold and diamonds are so valuable. Explain why a handful of shiny objects are worth more than a house, a pantry full of food, or a mode of transportation. Explain to them why celebrities (which are overpaid in the first place) wear millions of dollars worth of diamonds and gold while there are people starving on this world. You’ll find it’s extremely hard to explain to them without sounding like a complete idiot and saying “well it’s shiny and pretty”
There will come a day when people realize this and the value of gold and diamonds will plummet. I advise everyone to take all their “precious shiny objects” and sell them while they’re still worth something. Then start a college fund for your kid, feed/clothe the needy, or just try to get out of some debt or buy some groceries.
Besides this gold issue, I agree with Ron Paul on a lot of issues and hope he has a better run in 2012.
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Dear Mr. Paul,
I truly hope this message reaches you personally, as I represent the sentiments of many others in my area and across our once-great country.
Historically, as I’m sure you are aware, real and effective leadership most often came in the form of those reluctant to accept the task. You mentioned the term “truth” in a recent response to statements made by Mr. Bush regarding our current economic situation. Interestingly, another necessary quality of real leadership is that of understanding pure truth, and frankly…having the fortitude to implement it. More often than not, other “factors” begin to muddy the waters when decisions are being made at a governmental level. In most cases, it seems, truth becomes an idealistic and even archaic notion bantered about by college professors and other theorists. Consequently, it is relegated to those realms until its undying reality makes itself known once again. To add salt to the wound, the timing of such realizations is often the proverbial “too late”. It’s time for us to accept the truth, and I believe most of us out here are capable of it, without being bottle-fed by the government at the cost of our freedom, children, souls and livelihood.
Being 35 years old, a professional engineer, Eagle Scout, father and husband, town commissioner and son and grandson of American war veterans, I’m what you might call knowingly hesitant to accept the “promises” of any person who would be termed a politician. This attitude is not so much grounded in cynicism as it is in common sense and the mindset of our founding fathers. Two plus two always equals 4. Anyone (including the government) who attempts to convince us otherwise is a liar and most likely a thief. This unfortunately seems to have been the modus operandi of politics and American government throughout most of my lifetime. In this greatest of nations, I have tried my best to use the brain that God gave me to make our society better, in my own small ways. I honestly believe most in our society do this on a regular basis.
Considering my admitted skepticism and eternal optimism, I’m not concerned with what you would do as president nearly as much as what you HAVE DONE as a congressman. The known aspects of your personal life, marriage and family, career, rather outspoken views and plain old grit are what make you a true representative of the people. Considering this, I urge you…implore you even, more now than ever, to please reconsider helping our nation rebuild itself to its former health.
My concern is for my God, my wife, my family and my country. God can handle his own, and will. In the meantime, please help us, out here in America. We need you Dr. Paul.
Respectfully Submitted,
John Towery
“All that is necessary for the triumph of evil is that good men do nothing.” (Edmund Burke)
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THE facts are a bailout will do nothing for anyone .THE market IS gone..THERE is no place to hide..THERE is no more people to buy un-needed homes or people who have good credit or LIQUIDITY, to their score.The FED.interest rate was down to nothing & nothing moved..ALLthe lenders know this..That is another reason this bailout is a TREASONOUS act, because they knew the numbers indicated there is no market..WE are going to be stuck big..I have been one to take calculated risk but this risk is NOT calculated for YOU the taxpayer.NO one can predict a result..THE NWO is commimg & our officials are ushering it in with open arms..WELCOME to rewarding BLACKMAILERS..TLF
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I sent RON & minority SENATE leader e-mail with my concerns about the bailout.I guess I was too late for the deal…This BAILOUT?SELLOUT?BUYup?, is TREASON at it’s highest .CHINA just BLACKMAILED the U.S. by refuseing any more credit.NOW that our CONRESSMEN know the treatment we can expect from NWO,nations. IT would be HIGH TREASON to vote for any kind of bailout after knowing this. We do not need friends like this ; we can make the JUNK they supply here. .WE brought them out of the DARK AGES & this is our payback.THIS is Why I am totaly 100% against (any) BAILOUT.I knew this is what we would get & will get BLACKMAILED,into the NWO. .LET CHINA sell their JUNK to other countries if they have money .I don’t want to give them another dime of mine…TREASON,TREASON TREASON. NO one’s hands shall be clean after this deal.I will no longer vote because there is NO reason to expect,”CHANGE”we can believe in…. NO more: WALMART,ADVANCE ,AUTOZONE,ADVANCEAUTO,HARBOR FREIGHT,HSN,NO more Chinese anything for me…TLF
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“People who relieve others of their money with guns are called robbers. It does not alter the immorality of the act when the income transfer is carried out by government.” -Cal Thomas
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The people of this country needs YOU Rep. RON PAUL to get up in front of the members of the house and congress to give the alternates to what Paulson and Bernanke are saying about 700 billion needed to bailout wall street and the banks. More than 5 minutes will be needed to show the flawed history of the fed reserve and the way we got into this mess and finally a clear explanation of what MUST be done to limit the damage and put us on the road to recovery. This must include the housing bubble problems…..lowering of home prices…..accountability of those responsable…..the bundling of mortgages with those profiting in this process of bundling and the domestic and foreign investors that have been duped into poor investing and that this was also due to their own greed for profits. then put into perspective the Iraq and Afghanistan war interventions and the immediate costs of our military and subcontractors all over the world. THIS IS THE TIME THAT YOU REP. RON PAUL M U S T be heard with your solutions and given enough time to explain the solution before the people opposite to the secretary of the Treasury ..Mr Paulson or things W I L L become much worse for the middle and lower economic groups in this country.
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Hi All,
I thought you might be interested in a discussion of this topic:
http://www.opposingviews.com/questions/should-the-us-return-to-the-gold-standard
Don Luskin takes the pro-gold side. Randall Parker the anti-gold side.
Hope you enjoy it
Adam
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I’m writing in Ron Paul for President of the United States – If you feel as I do I urge you to do the same on election day….
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Dear Mr. Paul,
Please, won’t you consider re-entering the race as an independent or even Republican or Democrat! I’ll support you and do everything I can to help you win.
The nation needs a man with a brain and wisdom. A man who acknowledges the existence of the constitution.
The nation needs, more than ever, Ron Paul.
Please Mr. Paul, consider re-entering the race.
Thank you, and I look forward to more of your insight on this crisis.
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Are you prepared to consume a fake “Debate” once again?
– paid for by your “Friends” on Wall Street
*Not Nader & Paul Main Street
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WELL said Jay….Where is the JUSTICE DEPT. to investigate, BEFORE they sellout & buy up BAD RISK, from those who are in the business of buying RISK ….This is business ,PURE & SIMPLE….. WE purchase their RISK … The RISK they got paid to accept…IT’s a business….LET them take their lumps….THEY lived HIGH on their past easy profits. ..THEY should have stuck some away for THIS rainy day….
says,TLF
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dear Dr. Paul,
As a brother physician, and as a fellow American, I just would like to ask you a question. What is really going on in our government? I dont like to agree with cospiracy theorists. However, there are all these groups like Club of Rome and Bilderbergers out there. But it seems like there is a complete lack of fiscal responsibility. No one could run a business or household the way the U.S Treasury is run. So I wonder why it just keeeps going the way it is without any attempt to say, “Look the party is over, the budget will be balanced this year, and that is the end of it”. That is what my dad taught me to do, and that is how I live. Some people that i know feel as if the people in government are actually trying to run America into blivion. And when I look at what is going on, I have to wonder. I mean, this country is in a mess. So any way, The only person I trust is Jesus, my Saviour. The United States is the greatest country ever, but I have doubts about the true purposes of the government leaders.
j. Bellomo
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Hello Joe,
You are very right, the only person to trust is Jesus, our Lord and savior. I am thankful to have fellow brothers out there that are seeing the evil that exists within our very own country. Please remember who the prince of this world is. He exists is very high places and controls much of the world, including the US. Christians, as well as the majority of the population are so quick to target people who believes in conspiracies, even when they exist. However, anyone who does a little research knows conspiracies are very real just like the creation of the Federal Reserve. Even getting people to believe that the Federal Reserve is the reason for the economic crisis is a difficult task. I ask that you do some research on other conspiracies such as 9/11 and vitamin b17. Thank you.
My people perish for lack of knowledge-Hosea 4:6
Jay Chun
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