Monday, September 24th, 2018 MST

Ron Paul and gold

Millennials,

It was astonishing that when Ron Paul dropped out of the 2012 presidential race many of his followers jumped to supporting Bernie Sanders, an avowed socialist.  Ron Paul, of course, is a libertarian who rails against socialism in all forms.

While it is difficult to name the worst form of socialism, central banking must be close to it.  At the Federal Reserve, twelve persons decide what is the proper interest rate for 320 million Americans and how much money should be in circulation.  This is all fine with Bernie Sanders; it is an anathema to Ron Paul.

To Ron, interest rates are simply the price of money.  As for money, he thinks it should be gold, or silver, or whatever “the market” decides.  History shows, however, that gold and silver have been the preferred forms of money.

Ron is not in favor of a “gold standard,” because with it the government is involved.  You have to rely on the government keeping its promise to redeem in gold or silver, which it has failed to do everywhere the gold standard has been established.

As millennials enter the workforce and start taking notice of how much the government confiscates out of each paycheck, they will wish they had remained in the Ron Paul camp.

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