GOP Appeased Me on Gold Standard: Rep. Ron Paul

Anthony Bradshaw | Getty Images

The U.S. could avoid a lot of its problems with a return to the gold standard, Rep. Ron Paul told CNBC’s “Closing Bell” on Friday.

“We could avoid some of the horrendous swings in the marketplace with bubbles building and bursting and transfer of wealth from the middle class to the wealth,” Paul said.

(Read More: Why Return to Gold Standard Is Seen By Some as 'Ludicrous'.)

The Texas Republican has long pushed for a return to gold as the basis of money, and now for the first time in 30 years, the Republican platform will call for a gold commission to look into a return to the gold standard.

While Paul told CNBC that the decision to include a gold commission — as well as an audit of the Federal Reserve (learn more) — as a plank of the Republican platform was partly an effort to appease him ahead of the convention, he also said, “It’s a reflection of the effort we’ve had educating people about the return to gold.”

(Related: What's a Gold Standard Anyway?)

Paul also said that the conditions are much worse today than they were when the last gold commission was formed in the early 1980s.

Election 2012Your Money Your Vote - A CNBC Special Report

“We’re deeply in debt and all that is being offered out of Washington is spend more money, borrow more money and print more money,” Paul said.

“You can’t get out of a debt problem by creating more debt and printing more money,” Paul added.

© 2012 CNBC.com

Comment

You need to be a member of Gold & Silver/ Precious Metals to add comments!

"Destroying the New World Order"

TOP CONTENT THIS WEEK

THANK YOU FOR SUPPORTING THE SITE!

mobile page

12160.info/m

12160 Administrators

 

Latest Activity

Less Prone commented on Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
"Perfect for destroying the supply chain. It could well have been intentional."
8 hours ago
Less Prone favorited Doc Vega's blog post Was Sabotage or Terrorism used in the Collapse of the Francis Scott Key Bridge?
8 hours ago
Doc Vega posted blog posts
9 hours ago
rlionhearted_3 posted photos
12 hours ago
rlionhearted_3 favorited Doc Vega's photo
12 hours ago
tjdavis posted a video

Alabama’s Biggest Secret - Operation Paperclip 🇺🇸

In the north of Alabama is the city of Huntsville. It's here where German scientists built NASA in secrecy after World War II. Operation Paperclip is still s...
16 hours ago
tjdavis posted a photo
17 hours ago
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Cheeki kea always nice to her you chime in and you're damn right! "
yesterday
Doc Vega commented on Doc Vega's blog post Americans You’re Being Squeezed Out!
"Les Prone thanks for your support Dude! "
yesterday
Doc Vega posted a photo

The inconvenient truth

Trump spells it out!
yesterday
Sandy posted a photo
Wednesday
Less Prone favorited Doc Vega's blog post What Made the Founding Fathers of America so Brilliant?
Tuesday
Less Prone commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Motives of Joe, to shit in the well by showing totally irrelevant proof?"
Tuesday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less, Motives of Wyatt or Joe? What archeologist wouldn't want proof of Jesus as part of his…"
Tuesday
Doc Vega commented on Doc Vega's blog post Why didn't the Archeological World Announce Proof that Jesus Lived?
"Less Prone, Considering Joe Rogan to be the gatekeeper of anything is just short of ridiculous the…"
Tuesday
Doc Vega posted a blog post
Tuesday
MAC posted a video

Don't Go To Hong Kong Now (Even on Connecting Flights)

Secure your privacy with Surfshark! Enter coupon code laowhy86 for an extra 3 months free at https://Surfshark.deals/laowhy86Article 23 in Hong Kong is real,...
Tuesday
cheeki kea commented on cheeki kea's video
Thumbnail

Terrorist Attack on Moscow - Ukraine Committing Suicide? | Larry C. Johnson

"...And I guess I'll just park this you tube here also for something to ponder from last year.…"
Tuesday
tjdavis posted photos
Tuesday
Less Prone posted a video

Climate: The Movie (The Cold Truth) NL

Deze nieuwe documentaire van de Britse filmmaker Martin Durkin toont aan dat klimaatalarm een verzonnen doembeeld is zonder enige wetenschappelijke basis. He...
Monday

© 2024   Created by truth.   Powered by

Badges  |  Report an Issue  |  Terms of Service

content and site copyright 12160.info 2007-2019 - all rights reserved. unless otherwise noted