"Gold Is The Ultimate Money" says Ron Paul

[sailingaway]

The mooted savings levy in Cyprus is a form of wealth confiscation on behalf of the EU which is making depositors throughout the Union nervous. There has been no dramatic increase in the demand for gold in recent days. However, this could be a ‘tipping point’ moment when savers realise that they are unsecured creditors of banks and their savings are not sacrosanct.



Dr. Ron Paul was interviewed by Fox after the U.S. Federal Reserve confirmed it will continue its QE program highlights the importance of gold as money.

On July 13, 2011, when Dr. Paul was a U.S. Congressman he asked U.S. Fed Chairman, Ben Bernanke, "Do you think gold is money?" and Bernanke replied, "No, it’s a precious metal."

Dr. Paul countered, “Even though it’s been used for 6,000 years?” But Bernanke denied gold was money and said, “No, it's an asset. Just like T-Bill's are not money.”

The Fox News interviewer then commented, “Cyprus has taught us that governments can confiscate money that you've earned or even paid taxes on. Rampant quantitative easing and price fixing by governments may prop up the stock markets but it doesn’t keep unemployment down. The U.S. Fed is going to continue its QE program which is good for gold.”

more: http://www.zerohedge.com/contributed/2013-03-21/gold-ultimate-money-says-ron-paul (the video itself is on another thread and on the front page)

 

[Carson]

It kind of worries me.

The central banks are counterfeiting our money supply to make off with as much of it as they can it seems. That would have to inflate the price considerably out of proportion in the short term. Not that they aren't making off with something for nothing and leaving the usual victims holding the bag.

But I can see where he is coming from. It certainly has a place of honor.