Will Ron Paul really bring back the Gold Standard realistically?

[Mordan]

Hi,

I'm reading so many comments deriding Ron Paul's view on the Gold Standard. Who here thinks a Ron Paul presidency is going to bring back the Gold Standard in 4 years? He should cut that talk altogether.

And he should nail again and again and again : as a president I will repeal legal tender laws and allows for competitive currencies. Competition is good!

He shouldn't say anything else.

Because in 4 years, he cannot implement all his ideas. He has to choose. He has to campaign on a platform with specific items in order to win and not simply on ideas as an ideologue!

 

[erowe1]

Who here thinks a Ron Paul presidency is going to bring back the Gold Standard in 4 years? He should cut that talk altogether.

Cut what talk? Have you heard him talk about bringing back the gold standard?

 

[ctiger2]

It will happen regardless of Ron Paul. The market will demand it.

 

[Harald]

Legalize alternative currencies to circulate without restriction along with US dollar.
It is likely that gold based currency will win over federal reserve notes.

You don't have to impose a gold standard on anyone. Just repeal a few legal tender laws and regulations.

 

[Paul4Prez]

A return to the gold standard is desperately needed. A stable, honest currency is good for the economy. "Competing currencies" is a cop out.

 

[erowe1]

"Competing currencies" is a cop out.

But competing currencies is Paul's position.

 

[smartguy911]

He doesn't want the same gold standard we had in past because it has many flaws too. It will not work in our complex economy. So, he is not for old Gold standard but would like a new Gold standard that will work in current times.

 

[djruden]

I've have seen Ron Paul speak in person a number of times and when the gold standard gets brought up, he says something along the lines that he knows we can't go back to the standard we used to have but he would like to legalize currency competition so that someone can create a new and better commodity based standard, perhaps gold backed or silver backed as is supported by our constitution.

He knows theres better methods than the fiat currency our govt has created and continues to destroy and debase. The real solution is out there but current law prevents anyone from discovering it and allowing the people to choose it.

 

[erowe1]

He doesn't want the same gold standard we had in past because it has many flaws too. It will not work in our complex economy. So, he is not for old Gold standard but would like a new Gold standard that will work in current times.

Reading this whole thread I feel like I missed something. Did RP come out for some kind of gold standard recently?

 

[KhunJean]

Ever wondered what the price of oil is in gold (http://pricedingold.com/crude-oil/) , or college tuition (http://pricedingold.com/college-tuition/).
For me it was an eye opener.
I think the Arab oil countries actually still have their base price of oil in gold and convert it to dollars because that is the system we have.
If you look at the graph oil priced in gold is now cheaper then in 1955!

Is it not the constitution that tells what can be used for legal tender. Ron Pauls position would be that of the constitution i bet.


Personally i think a gold standard is more easy than before and that is because the current dollar price for gold is so high. You would not need so much gold on you to go out shopping. Coins with a few gram of gold in it would suffice.

 

[VIDEODROME]

In this modern era couldn't create a real Gold Card? Instead of a Credit Card based on offering credit and debt have a card representing ownership of units of Gold?

 

[Krtek]

He doesn't want the same gold standard we had in past because it has many flaws too. It will not work in our complex economy. So, he is not for old Gold standard but would like a new Gold standard that will work in current times.

Can you explain the intricacies to me if you know them? I don't understand the gold standard as well as I would like, but I do know that under the gold standard The US Currency maintained it's value throughout the whole 19th century (if not appreciating slightly in value) while at the same time the US economy experienced gigantic growth.

 

[erowe1]

I do know that under the gold standard The US Currency maintained it's value throughout the whole 19th century

Where did you hear that?

 

[ctiger2]

"Competing currencies" is a cop out.

Hardly. Competing currencies is stage 1 of a return to a Gold Standard silly.

 

[dannno]

Hi,

I'm reading so many comments deriding Ron Paul's view on the Gold Standard. Who here thinks a Ron Paul presidency is going to bring back the Gold Standard in 4 years? He should cut that talk altogether.

And he should nail again and again and again : as a president I will repeal legal tender laws and allows for competitive currencies. Competition is good!

He shouldn't say anything else.

Because in 4 years, he cannot implement all his ideas. He has to choose. He has to campaign on a platform with specific items in order to win and not simply on ideas as an ideologue!

Ron Paul doesn't advocate ANY "standards"

Like you said, he advocates repealing legal tender laws. He uses the discussion of gold backed currencies as a mental exercise to show people why fiat currencies are fallible, but does not advocate a gold standard.

I will admit, on other forums that is the #1 complaint I see.. that he is for the gold standard.. so I am constantly having to explain that he is not, in fact, for any 'standards' including the gold standard.. although he has said that it is preferable to the current fiat system, that again is for mental exercise purposes, not for implementation.

 

[dannno]

In this modern era couldn't create a real Gold Card? Instead of a Credit Card based on offering credit and debt have a card representing ownership of units of Gold?

You could, as long as people were not forced to use it.

 

[febo]

Jim Rickards predicts a new gold standard and a lot of people think he knows his onions.

 

[Shane Harris]

how does competing currencies fit into the constitutional definition of legal tender as only being backed by gold or silver

 

[erowe1]

how does competing currencies fit into the constitutional definition of legal tender as only being backed by gold or silver

The phrase "legal tender" is not found in the Constitution.

 

[Krtek]

Where did you hear that?

I heard Peter Schiff talking about it. He was saying how basic living expenses either maintained price or went down as the result of technology. Also I am pretty sure he said that the dollar gained a little bit value overall from the beginning of the 1800's to the end of the 1800's.