Ron Paul: The Candidate That Laid the Golden Egg
by Kal Kotecha
There is still
a chance for Americans to stem the inexorable push To Narnia!,
as exhorted by fake Presidential candidate and comedian, Stephen
Colbert. As humourous as it may be that Colbert trumped a candidate
in a GOP Presidential nomination poll in South Carolina (nailing
5% of the votes to Jon Huntsmans 4%), its a sobering
footnote in the race for the 2012 Republican presidential nomination.
riddle America. Americas national debt increases an average
of $3.96 billion per day. And, as economic Armageddon ravages America,
the Presidential race is rife with candidates completely clueless
about basic economics.
Who will staunch
the bleeding of America and how?
The lone GOP
candidate to grasp the immensity and complexity of monetary policy
is the 11-term Congressman from The Lone Star state Dr. Ron
Paul. Hes seen blood before first as a flight surgeon
in the U.S. air force; then as a Texas obstetrician delivering 4,000
babies; and, more recently, as a politician.
an audit then a cut of the Federal Reserve System,
believing it should be abolished. Typifying The Fed as counterfeiters,
he has been vociferous about the power and authority by Congress
to create money out of thin air. In February 2009, he introduced
a bill to audit the Federal Reserve, opining that the financial
system is very friable, very vulnerable
.and that it was the
Fed that was creating the bubbles. Believing that Americans
have long been boondoggled by an increasingly corrupt Congress (the
chicken that laid The Fed egg), Paul admitted that, as a Congressman,
he can find out more about the CIA than the Federal Reserve System.
Smell that rotten egg.
to cut the cozy symbiosis between Congress and the Fed.
While speaking about the Federal Reserve, Paul noted that not
a lot of American people understand it and not a lot of people here
in Congress understand it either and even members of
the banking committee have come up to me and said you mean our dollar
isnt backed by gold anymore?
that gold is the surest path back to sound money, Paul
eschews the fiat monetary system of money, staunchly supporting
the gold standard which will tighten up the printing of ridiculous
sums of currency and keep in check the powers that are responsible
in doing so. This would also be bullish for gold as the reserve
would have to back at least part of the currency with gold sending
the price of the precious metal northward.
In his 1981
book (re-released in 2007) Gold,
Peace and Prosperity: The Birth of a New Currency, Paul
wrote The gold coin standard, although imperfectly adhered
to, permitted startling economic growth combined with falling prices
in the 19th century. In the 67 years since the abolition of the
gold standard, the Consumer Price Index has gone up 625 percent.
In the previous 67 years, under an imperfect gold coin standard,
the CPI increased 10 percent.
But, does Ron
Paul put his money where his mouth is?
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© 2012 321 Gold