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Ron Paul: “6,000 Years of History, Gold Is Always Money, Paper Money Fails”

Tyler Durden's picture


From GoldCore

Ron Paul: “6,000 Years of History, Gold Is Always Money, Paper Money Fails”

Ron Paul spoke with Bloomberg television and said that we are in a currency war and we have been for decades. He noted that governments have always competed against each other’s currencies even under Bretton Woods. It has always been a form or protectionism and will make people want to export more.

Dr. Paul said don’t blame countries like China and Japan just look at the debt the U.S. is buying. There will always be currency wars. The Bank of Japan claims it has to defend itself against deflation and decades of slow growth.

Ron Paul noted that the Bank of Japan’s yen devaluations will eventually lead to further price inflations that are to come. Investors and citizens will eventually reject the yen and switch to other currencies like dollars or Swiss francs.  Then eventually people will move to hard assets altogether as they are losing confidence in paper assets. 

Dr. Paul was asked, “Do you think protectionism will lead to a crash in the international monetary system? He replied, “Nothing good can come of it. Even short run trade benefits leads to a weaker economy and higher prices. It doesn't solve the problem they won't face the truth. That is that all governments spend too much money, there is too much debt and they get away with it by taxing people”.

“It seems that all we have is more debt, more printing money, and more government interventions. Governments won’t even talk cutting things. They only want to make slight decreases of proposed increases in their budgets!”

On the next U.S. Treasury Secretary, Jack Lew, Paul says, “We don't need an intervener.  He should have a strong dollar policy by defining it, and not by propping up the market. Don't devalue a currency. It is then that you hurt savers and cost of living goes up. This only damages the middle class and the poor no matter what welfare programmes you have because they lose purchasing power.”

Dr. Paul says that he feels the Obama administration is trying to devalue the dollar, they are very different then sound people and different then the Austrian economists. They feel debt is ok.

The interviewer noted that the gold standard has not immunized us from financial crisis.

Dr. Paul retorts, “If you look at it over several years it does maintain money. There were flaws with the gold standard, during wars, there were problems in the past and we understand so much more today and we could do better.”

“If you think we need a wiser Federal Reserve, central economic planning for the manipulation of credit, or a better Treasury Secretary, I reject that. “

After all, Ron Paul says for over 6000 years of history gold is always money and paper money fails. 

IMF Russia Gold in Million Fine Troy Oz, Monthly – (Bloomberg)

Russia buys gold to protect against “cataclysm with the dollar, euro, pound or any other reserve currency"

Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metric tons of the metal in the past decade, a quarter more than runner-up China, according to IMF data compiled by Bloomberg. The added gold is also almost triple the weight of the Statue of Liberty.

“The more gold a country has, the more sovereignty it will have if there’s a cataclysm with the dollar, the euro, the pound or any other reserve currency,” Evgeny Fedorov, a lawmaker for Putin’s United Russia party in the lower house of parliament, said in a telephone interview in Moscow.

Gold, coveted by Russian rulers including Tsar Nicholas II and the Bolshevik leader whose forces assassinated him, Vladimir Lenin, has soared almost 400% in the period of Putin’s purchases. Central banks around the world have printed money to escape the global financial crisis, sapping investor appetite for dollars and euros and setting off a scramble for safety.

In 1998, the year Russia defaulted on $40 billion of domestic debt, it took as many as 28 barrels of crude to buy an ounce of gold, data compiled by Bloomberg show. That ratio tumbled to 11.5 by the time Putin first came to power a year later and in 2005, after it touched 6.5 -- less than half what it is now -- the president told the central bank to buy.

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Mon, 02/11/2013 - 11:23 | 3233240 redpill
redpill's picture

I'd like to share a revelation that I've had during my time here. It came to me when I tried to classify bankers and I realized that they're not actually mammals. Every mammal on this planet instinctively develops a natural equilibrium with the surrounding environment but bankers do not. They move to an emerging market and then enslave the people with debt until every human is a serf and the only way they can survive is to spread to another market. There is another organism on this planet that follows the same pattern. Do you know what it is? A virus. Bankers are a disease, a cancer of this planet. They are a plague and gold is the cure.

Mon, 02/11/2013 - 11:30 | 3233280 inevitablecollapse
inevitablecollapse's picture

the only 'cure' is a removal from the host.  i agree with the precept that bankers are a virus, but as with any virus, you can innoculate but still run the risk of infection. the best way to pre-emptively cure one self of a virus is an eradication.  unfortunately, this virus is a hardy one and is quite virulent.  

Mon, 02/11/2013 - 11:36 | 3233294 forwardho
forwardho's picture

Very fitting analogy.

Indeed a virus's success is based on the speed withwhich it kills its host.


Mon, 02/11/2013 - 11:45 | 3233309 Shell Game
Shell Game's picture

In biology, a well evolved parasite does relatively little damage to the host.  It's when parasites cross species, or encounter an immuno-compromise host, that disease becomes dramatic and totally destructive. 

This supports your observation that bankers are not human - they are poorly evolved parasites.  They are more vile than a cross-species disease.  They are evil.  Yes, gold is their bane and our cure..

Mon, 02/11/2013 - 11:58 | 3233435 eclectic syncretist
eclectic syncretist's picture

Welcome to the mind of the gangsta banksta!



Mon, 02/11/2013 - 12:23 | 3233573 gwar5
gwar5's picture

I was sidetracked by the nictitating membranes. 


Mon, 02/11/2013 - 11:29 | 3233271 Shell Game
Shell Game's picture

"Because gold is honest money, it is disliked my dishonest men." -Ron Paul, The Case for Gold

Mon, 02/11/2013 - 11:15 | 3233216 Sudden Debt
Sudden Debt's picture



Lookup 'Magdalene Laundries' and see that the church kept on doing it untill 1996

Mon, 02/11/2013 - 11:19 | 3233232 TheCanadianAustrian
TheCanadianAustrian's picture

And why 6,000? Was gold and silver not used 10,000 years ago?

Mon, 02/11/2013 - 12:01 | 3233394 Haole
Haole's picture

It probably was but "science"and the establishment that controls information on this planet only has the ability and finds it necessary to lie about and bastardize our history going back 6K years. It's like an archeological attention span that fails even in it's brief snapshot in time. Do you think they actually want people to know humans have been on this planet for hundreds of thousands, perhaps millions of years (among other things)? I'm sure there's many on ZH who find this preposterous thanks to a lifetime of programming and brainwashing too.

Like how we've been led to believe, and many somehow hold this to be truth somehow, that all or most the crude oil on the planet comes from rotting lizards and seaweed. Utterly and absolutely ridiculous. For those morons I present the little red arrow up and to the left, go nuts. Utterly and absolutely ridiculous yet driven into us as "truth" since we're old enough to be duped.

Epic failures abound in this day and age but thank god failure is now success, for individuals to governments alike, otherwise we all might be in a bit of a spot...

Mon, 02/11/2013 - 12:05 | 3233462 Rusty Shorts
Rusty Shorts's picture


Mon, 02/11/2013 - 13:04 | 3233716 Tsukato
Tsukato's picture

Good to hear from someone with some insight. It's possible humans have been here for 100s of millions to even billions of years. there's tons of archaeological evidence to support this. Even proof that the Mahabharata is not just a fairy tale, and that nuclear weapons may have been used in the past, and radiation is still registered on radioactive hotspots in India, Libya, and Egypt. There's even a fair amount of proof that humans lived at the same time as dinosaurs, and may have even been created in prehistoric labs by humans at that time.

Mon, 02/11/2013 - 13:15 | 3233751 LawsofPhysics
LawsofPhysics's picture

Right, how about some links to all that peer-reviewed information.  I won't hold my breath.

Mon, 02/11/2013 - 13:29 | 3233803 DoChenRollingBearing
DoChenRollingBearing's picture

+ 1

Science flummoxes some people...

Mon, 02/11/2013 - 13:45 | 3233848 Haole
Haole's picture

Classic example - AGW/Anthropogenic "Climate Change"

Sciganda, sci-ops and scigendas. Truth has nothing to do with it.

Mon, 02/11/2013 - 13:48 | 3233871 LawsofPhysics
LawsofPhysics's picture

Links to any of your "truths" might give you some credibility.  In the meantime, I'll believe my own eyes and hedge accordingly.

Mon, 02/11/2013 - 14:10 | 3233918 Haole
Haole's picture

I never claimed to know the absolute truth, only that much of what we've been programmed to believe all our lives is, to one extent or another, either not as it seems or bullshit altogether. Science has provided great advances for our species but it has also acted clandestinely and been used as a mechanism of profitable psychological and physical control bordering on and not unlike religion itself. Again, classic example, AGW/Anthropogenic "climate change". Religion under which suckers can enslave themselves. If you care to argue that then I'm sure you can do it without me...

Mon, 02/11/2013 - 14:12 | 3233961 Shell Game
Shell Game's picture

The problem I have with the anti-science movement, for lack of better words, is that it is very similar to the anti-gun movement:  a few criminal uses of it and it/they all should be banned.  

Mon, 02/11/2013 - 14:49 | 3234075 Haole
Haole's picture

Black, white, all, nothing...

Who said anything about "anti-science" as if all science is incorrect or dangerous and/or a "conspiracy"? That's just absurd.

It must suck ignoring or being oblivious to 99.9% of the spectrum of possibilities between the extremes as much of the population seems to be... That's nothing but extremism and fanaticism by definition.

Mon, 02/11/2013 - 14:09 | 3233950 Shell Game
Shell Game's picture

If some science is built on fraud, all of it must surely be..  Scigenda - you have a serious case of it.

Mon, 02/11/2013 - 14:13 | 3233959 Haole
Haole's picture

Oh, black or white, simple as that eh?

Glad to see my comments are attracting the real sensible geniuses at ZH, terrific...

Mon, 02/11/2013 - 14:14 | 3233971 Shell Game
Shell Game's picture

And real genius falls back on unreferenced statements of 'fact', ad hominems and Alinsky tactics, eh?  :^)

Mon, 02/11/2013 - 13:18 | 3233756 edifice
edifice's picture

Damnit, where's that picture of Jesus riding a pterodactyl?

Mon, 02/11/2013 - 13:18 | 3233759 Shell Game
Shell Game's picture

Please, please tell me there is a /sarc tag there somewhere..


Mon, 02/11/2013 - 13:27 | 3233795 espirit
espirit's picture

No sarc tag required.

It's obvious most prehistoric humans ended up as dinosaur poop.

Mon, 02/11/2013 - 14:59 | 3233833 Haole
Haole's picture

To think, your cars could currently be running on the rotted remnants of those "prehistoric" humans. Delusional Crude Soylent Green, bitchez...

Mon, 02/11/2013 - 13:43 | 3233856 Watauga
Watauga's picture

Better watch out.  Some high church Darwinians may execute you.

Mon, 02/11/2013 - 13:20 | 3233762 LawsofPhysics
LawsofPhysics's picture

Oh do tell us all where this magical oil spicket is?  I have many tractors that run on reduced hydrocarbons, and can not wait to back up to this source of oil appearing out of nothing.  I hope it appears faster as the population is still growing. Yes please there are no limits to anything, no biological cycles, Unicorns and skittles for all!

Must be my lying eyes then.

Mon, 02/11/2013 - 13:57 | 3233905 Haole
Haole's picture

Nobody in their right mind would claim that planetary resources of any kind are literally limitless but as Faulkner mused "facts and truth really don't have much to do with each other.”

Perception is everything and potentially nothing, our entire modern civilization has been built to excess on preventing eyes and ears from seeing and hearing truth in many regards.

Mon, 02/11/2013 - 14:17 | 3233982 LawsofPhysics
LawsofPhysics's picture

Indeed, wake me when you present some, facts that is. In the meantime, I have work to do, enjoy your mental masterbation.

Mon, 02/11/2013 - 15:00 | 3234037 Haole
Haole's picture

Sorry to interrupt your day, you seem to have quite a lot of time to post your brand of usually condescending mental masturbation all over ZH so I'm so sorry you have to avoid more.

Where would the world be if people ignored everything other than working the soil. Dismissed ideas outright and resisted any flexibility whatsoever in their ideology and/or established knowledge base..?

Descendants of the people that were laughing at the Wright brothers before they flew seem to be everywhere and coincidently folks like these are pretty sure they know the truth of it all. Fancy that...

Mon, 02/11/2013 - 16:12 | 3234468 LawsofPhysics
LawsofPhysics's picture

The question is not whether or not the wright brothers were innovative or not, they were.  The question is whether or not you are or if you have anything of significant intelligence to add..

So far, nada...

Mon, 02/11/2013 - 16:42 | 3234492 Haole
Haole's picture

I thought you had to get back to work a while ago, posting in threads on ZH ever since... A mental jerk-off addict and an intellectual descendant of ignorance incarnate avoiding any idea that clashes with his belief structure... Beautiful, good for you. Oh but you have to get back "to work" again, right?

My point had virtually nothing to do do with how innovative the Wright brothers were but more so the utter ignorance and ridicule inflicted on them by people that wouldn't allow an original or imaginative thought if their life depended on it. Hmmm, sounds familiar eh?

Don't change the subject or the context to suit your own personal agenda of ridiculing me simply for posing ideas which may or may not be true even as far as you know, or more accurately, don't know.

Mon, 02/11/2013 - 13:24 | 3233783 dick cheneys ghost
dick cheneys ghost's picture

Rockefeller net worth a 'state secret'...............fossil fuel my ass.........




Mon, 02/11/2013 - 12:51 | 3233668 Canucklehead
Canucklehead's picture

How did those 17 Jews get those millions of slaves out of Africa?  Did a few little guys show up on the coast of Africa and everyone on the continent realized the "gig" was up?  Was the "Hava Nagila" hypnotic and exotic enough that the locals could not get enough?  Did a few notes cause the populations to march into the boats and head off to the new continent?

Do the Zionists really have that kind of power? 

If they did then, do they still have that power now? 

If they lost that power, how was that accomplished?  Is there anything we can learn (assuming you have a national IQ above 89) to apply to the situation as we find it today?

If they didn't lose that power, what can we try that hasn't been tried before?

Mon, 02/11/2013 - 12:53 | 3233678 Canucklehead
Canucklehead's picture

I forgot to mention that Ron Paul is a douche of the First Order.  After what he said about Chris Kyle...

Ron Paul wanted to be President?  What a joke!  Ron Paul could not make a decision if someone's life depended on it!

Mon, 02/11/2013 - 14:19 | 3233989 Renewable Life
Renewable Life's picture

Ron said the guy "lived by the sword, and died by the sword" it's the fucking truth, get over your rah rah, we "kill the bad people in the name of" bullshit!

I have no problem with Chris Kyle, he was a hired killer, for the US government, and he did his job better then all the rest! His killing was celebrated by you and others, as his duty or some shit! But the rogue cop in LA is also a killer, his targets are NOT sanctioned by the government and its minions of brainwashed idiots, therefor he is a terrorists and a murderer! Both the same man, one profits from his killing, (books, tv, contracts, movie deals) the other is targeted by the system, because he attacks the system, not the governments enemies! The rogue cop would have loved to be Chris Kyle, but fate (and probably a level of skill) wouldn't have it!! But both, still the same man! And if your sorry rah rah bullshit ass doesn't think, Chris Kyle wouldn't have done the same thing to government "agents" if they were attacking him or taking his livelihood, your fucking delusional!

Attacking RP for pointing this out or anyone else for that matter, makes YOU the fucking douche!

Tue, 02/12/2013 - 13:56 | 3237126 Canucklehead
Canucklehead's picture

Ron Paul is a douche of the first order.  If he thinks in any way as you state that you do, Ron Paul is also a douche of the second order.

Mon, 02/11/2013 - 14:56 | 3234140 Haole
Haole's picture

Whoever down votes you for posting this is a bona fide fucking tool... Step right up ZH, I know there's at least a few more of you out there.

Mon, 02/11/2013 - 14:06 | 3233938 Not Too Important
Not Too Important's picture

Why does everyone pick on the 'Jews'? They are no more guilty than any other 'religious' group for evil commiitted by a few.

The Rothschilds didn't care that the Holocaust occured, as long as they made money. They were content to let millions of their own die.

The money they spend on Israel is blood money. But they'll make more trillions financing both sides of the massacre of Israel yet to come, as the NWO has clearly shown their allegience to violent jihadist Islam, through the Muslim Brotherhood.

The evil of a few, does not make the rest guilty.

Mon, 02/11/2013 - 15:02 | 3234150 Haole
Haole's picture

The question you might want to ask is why do people still generally confuse Zionists with Jews by definition?

Mon, 02/11/2013 - 11:25 | 3233253 EscapeKey
EscapeKey's picture

Corrections Corp of America.

Mon, 02/11/2013 - 11:17 | 3233227 Cognitive Dissonance
Cognitive Dissonance's picture

"Heretic. Burn the bastard at the stake." - Bernanke

Mon, 02/11/2013 - 11:18 | 3233228 Squid Vicious
Squid Vicious's picture

maybe the hot blond chick can be RP's becky quick?

Mon, 02/11/2013 - 11:19 | 3233231 dick cheneys ghost
dick cheneys ghost's picture

Fuck you rothschilds

Mon, 02/11/2013 - 11:20 | 3233235 moonstears
moonstears's picture

I hear people say "I bought gold at $300, or $700 or $900, wish I'd bought more". Wonder If "I bought at $1700, wish I'd bought more" will be said?

Mon, 02/11/2013 - 11:22 | 3233245 Hulk
Hulk's picture

You Betcha !!! (read in your mental "Fargo" voice)

Do NOT follow this link or you will be banned from the site!