tsai3904
07-16-2013, 04:55 PM
Interview occurred at FreedomFest between July 10-13, 2013.
http://www.youtube.com/watch?v=QWalf3JNctU
http://www.youtube.com/watch?v=QWalf3JNctU
Article:
Commission Needed To Reconsider Gold Standard: Sen. Rand Paul
A commission should be established to study the recent debasement of the U.S. dollar and whether a link to a commodity would be a good idea, said Kentucky Senator Rand Paul.
Paul was in Las Vegas as one of the keynote speakers at FreedomFest, an annual convention that looks to gather free minds for open discussions on politics and the economy. During a press conference, Kitco News’ Daniela Cambone was able to ask the Republican senator what is needed to maintain a strong dollar.
Although Paul wouldn’t comment on whether a gold standard is needed or not, he said the issue should be investigated. He added he would like to see the creation of a commission similar to the gold commission that was created during the Ronald Regan administration in the 1980s.
“We need to think about our currency that once upon a time had a link to a commodity and I think we should study it,” he said.
“Right now we have a dollar that has lost 96, 97% of its value over the last 100 years. The Federal Reserve is supposed to keep the value of the dollar… they aren’t doing a very good job,” he added.
Along with protecting the value of the U.S. dollar Paul said the country also needs to have a much more stable supply of money.
He added that the Federal Reserve’s current loose monetary policy and quantitative easing is leading to an exponential increase in the U.S. money supply that is creating a “dangerous illusion.”
“We are trying to get out of a terrible recession but the terrible recession in Nevada occurred because we did precisely that,” he said. “We created a bunch of money and told everybody that ‘hey you can buy a house and there are no restrictions.”
“It promoting a housing boom but the bust comes from the boom,” he added. “We got too far along the way.”
http://www.kitco.com/news/2013-07-16/Commission-Needed-to-Reconsider-Gold-Standard-Sen-Rand-Paul.html
http://www.youtube.com/watch?v=QWalf3JNctU
http://www.youtube.com/watch?v=QWalf3JNctU
Article:
Commission Needed To Reconsider Gold Standard: Sen. Rand Paul
A commission should be established to study the recent debasement of the U.S. dollar and whether a link to a commodity would be a good idea, said Kentucky Senator Rand Paul.
Paul was in Las Vegas as one of the keynote speakers at FreedomFest, an annual convention that looks to gather free minds for open discussions on politics and the economy. During a press conference, Kitco News’ Daniela Cambone was able to ask the Republican senator what is needed to maintain a strong dollar.
Although Paul wouldn’t comment on whether a gold standard is needed or not, he said the issue should be investigated. He added he would like to see the creation of a commission similar to the gold commission that was created during the Ronald Regan administration in the 1980s.
“We need to think about our currency that once upon a time had a link to a commodity and I think we should study it,” he said.
“Right now we have a dollar that has lost 96, 97% of its value over the last 100 years. The Federal Reserve is supposed to keep the value of the dollar… they aren’t doing a very good job,” he added.
Along with protecting the value of the U.S. dollar Paul said the country also needs to have a much more stable supply of money.
He added that the Federal Reserve’s current loose monetary policy and quantitative easing is leading to an exponential increase in the U.S. money supply that is creating a “dangerous illusion.”
“We are trying to get out of a terrible recession but the terrible recession in Nevada occurred because we did precisely that,” he said. “We created a bunch of money and told everybody that ‘hey you can buy a house and there are no restrictions.”
“It promoting a housing boom but the bust comes from the boom,” he added. “We got too far along the way.”
http://www.kitco.com/news/2013-07-16/Commission-Needed-to-Reconsider-Gold-Standard-Sen-Rand-Paul.html