Ron Paul: If Gold Isn't Money, Why Are Central Banks Buying It Up?

Posted | 02/03/2013 / Views | 2741
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Ron Paul spent his career establishing himself as a advocate for liberty and the gold standard while pleading for an end to the Federal Reserve. Although he has since retired from Congress after a spirited 2012 presidential election, he still makes sure his voice – the voice of the people – is heard loud and clear...

Especailly when he's talking to Fed Chairman Ben Bernanke.

Yesterday, Helicopter Ben attended a House Financial Serviced Committee hearing on Capitol Hill to testify before Congress bragging, "my inflation record is the best of any Federal Reserve chairman in the postwar period, or at least one of the best, about 2 percent average inflation."

That may be true, but critics argue that simply goes to show that the Fed was, and still is, doing a horrible job...

The 2012 libertarian presidential candidate, Ron Paul later slammed Mr. Bernanke for his arrogance and poor job performance. Regarding Bernanke's less-than-impressive tract record. Paul asserts that the Fed will “self destruct eventually.”

Paul went on to address the middle class crisis – explaining how the inflation rate is much higher for those shopping at the local grocery stores and going about their daily lives, regardless of what the government is telling them.

Ron Paul made many poignant statements in his counter-speech saying that, “While I certainly don’t miss Congress, where politicians are constantly trying to limit Americans’ freedom, during my time there I always enjoyed the opportunity to question the Federal Reserve Chairman about the damage the Fed’s policies do to the American economy.”

Paul called for greater transparency between the public and the Federal Reserve, worrying that Chairman Bernanke's failed policies aren't going to improve anytime soon, leaving our already fragile economic state in an even more vulnerable position.

Additionally, Ron Paul directly questioned Bernanke about the present day gold phenomena – central banks buying record amounts of the precious yellow metal – despite the fact that Bernanke told Paul that “gold is not money” back in 2011.

But as Ron Paul recently reminded us, history doesn't lie. The past 6,000 years prove that paper money always fails while gold always prevails as hard, truly valuable, money.

I think it's safe to say that the people of the United States are quite fortunate to have someone like Ron Paul shedding a truthful light on the misguidings of the Fed and calling attention to important economic factors that many other present-day Congressional leaders fail to address.

Hats off to Ron for stickin' it to Ben... again!