Ron Paul: Gold Could Go To Infinity

[Ronin Truth]

Ron Paul: Gold Could Go To Infinity

July 31st, 2014

“I Still Believe In Gold” – Ron Paul

Dr Ron Paul, the popular Presidential candidate and America and the world’s most popular libertarian voice, told CNBC yesterday that he “still believes in gold” and that “gold could go to infinity.”

Former U.S. Representative Dr Ron Paul told CNBC’s Jackie DeAngelis and the Futures Now Traders that the long-term case for gold remains firmly intact.

Dr Ron Paul:

“Timing is the only thing. I remember watching gold when it was 35 dollars an ounce and we thought if it ever hit a hundred dollars, the world would come to an end. And then a thousand dollars, so; no, it’s good as long as we continues to do this <print money> , you know, it could go to infinity because when people just leave the dollar, who knows what …”

“But that won’t happen if we finally wake up and do something. But if we can keep this together, if the money managers can keep it together and it doesn’t collapse, yes, gold is gonna keep creeping up, but, you know, as weak as gold looks right now, it’s up a hundred dollars for this year so…”

Jackie DeAngelis:

“It’s roughly I think up 8% year-to-date. It’s not a horrible move for gold but I think a lot of people were expecting to see a little bit more, especially with the instability that we’re seeing in terms of the geopolitical situation. A lot of conflict around the world — you’d expect gold to be higher right now.”

Ron Paul:

“Yeah, but if you understand the subjective theory of value, you don’t get too concerned about that because, yes, increasing the money supply weakens the dollar and a weaker dollar raises the price of gold and it’s a long term measurement. But you can’t measure, you can’t say that the money supply went up a certain amount, and gold is going to go up, so there’s a subjective element in that.”

“But long term…and economic law says, if you keep printing a lot of paper money, the value of that dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency.”

“But you don’t, I don’t get in the business of saying in a year or two or three it’s going to be two or three or four thousand dollars because it really challenges the basic fundamental beliefs of the Austrian school, to make these kinds of predictions.”

In another interview with CNBC, Dr Paul reaffirmed his view that the nation’s monetary and fiscal policies would result in massive inflation. He warned of a stock market crash and of the risk that currency debasement will lead to the continuing devaluation of the dollar.

Ron Paul has long said America should “end the Fed,” and he made that case once again on Tuesday.

“One thing you have to do is get rid of the Fed, because of the Fed “spin” that leads to volatility in markets. Referring to the statements and spin by Federal Reserve governors, now Janet Yellen, he said that in fact it is a “very inefficient way to operate a market, to have one individual make one statement, and put so much weight on it.”

“In short term, it’s very, very real, because people are going to make it or break it, you know, on this interpretation. But that has nothing to do with the free market, nothing to do with building capitalism, and savings, and the things necessary to have a growing economy.”

http://etfdailynews.com/2014/07/31/r...o-to-infinity/

At infinity, I just might have to consider selling some.

[CaptUSA]

[helmuth_hubener]

At infinity, I just might have to consider selling some.

Ronin, I thought you were into Buffett.

[Ronin Truth]

Ronin, I thought you were into Buffett.

When I sell some gold at infinity I'll buy ALL of Berkshire.

[helmuth_hubener]

When I sell some gold at infinity I'll buy ALL of Berkshire.

Ahh, gold + ∞ + Berkshire. That's what we call: SYNERGY!

[Ronin Truth]

Ahh, gold + ∞ + Berkshire. That's what we call: SYNERGY!

Yeah, I'll make the BRK_A stockholders an offer that they can't refuse.

[devil21]

I do wonder why Ron has never mentioned (afaik) the blatant and ongoing manipulation in the metals markets, particularly how the paper positions have distorted the physical metal dollar value. He talks about the economics of gold vs. dollar but never outright counters CNBC pundit types that the metals markets are heavily manipulated and therefore the subjective dollar value is mostly meaningless.

[Madison320]

I do wonder why Ron has never mentioned (afaik) the blatant and ongoing manipulation in the metals markets, particularly how the paper positions have distorted the physical metal dollar value. He talks about the economics of gold vs. dollar but never outright counters CNBC pundit types that the metals markets are heavily manipulated and therefore the subjective dollar value is mostly meaningless.

Maybe Ron Paul doesn't mention it because in the long run it's almost impossible to manipulate prices. Eventually the markets are going to find close to the right price.

[Madison320]

[URL]Ron Paul:“But long term…and economic law says, if you keep printing a lot of paper money, the value of that dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency.”

“But you don’t, I don’t get in the business of saying in a year or two or three it’s going to be two or three or four thousand dollars because it really challenges the basic fundamental beliefs of the Austrian school, to make these kinds of predictions.”

According to Zippy and Helmuth this means that Ron Paul has been wrong every year.

[Ronin Truth]

According to Zippy and Helmuth this means that Ron Paul has been wrong every year.

Well then I guess that definitively settles that.

[helmuth_hubener]

According to Zippy and Helmuth this means that Ron Paul has been wrong every year.

That is a gross mischaracterization of my views. I completely agree with both of Ron Paul's statements which you quoted. To wit:

Ron Paul: “But long term…and economic law says, if you keep printing a lot of paper money, the value of that dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency.”

I agree that, fundamentally, creating more money decreases the value of the money. That is basic. It's a law, as Ron Paul said, and it can have profound effects over the long term.

Ron Paul: “But you don’t, I don’t get in the business of saying in a year or two or three it’s going to be two or three or four thousand dollars because it really challenges the basic fundamental beliefs of the Austrian school, to make these kinds of predictions.”

I also stand with him in not getting in the business of making short term predictions of what's going to happen this year or that year. He is completely right that one of the fundamental insights of the Austrian School is the uncertainty of economic outcomes due to economics being determined by human action, not physics or other deterministic principles. As a matter of fact, I would say that I go even further than he himself goes in following his own advice of not making investment predictions.

Does that clear up my position for you, Madison?

[Madison320]

That is a gross mischaracterization of my views. I completely agree with both of Ron Paul's statements which you quoted. To wit:

Ron Paul: “But long term…and economic law says, if you keep printing a lot of paper money, the value of that dollar and currency will go down, and things and most prices will go up and indeed gold always goes up against that currency.”

I agree that, fundamentally, creating more money decreases the value of the money. That is basic. It's a law, as Ron Paul said, and it can have profound effects over the long term.

Ron Paul: “But you don’t, I don’t get in the business of saying in a year or two or three it’s going to be two or three or four thousand dollars because it really challenges the basic fundamental beliefs of the Austrian school, to make these kinds of predictions.”

I also stand with him in not getting in the business of making short term predictions of what's going to happen this year or that year. He is completely right that one of the fundamental insights of the Austrian School is the uncertainty of economic outcomes due to economics being determined by human action, not physics or other deterministic principles. As a matter of fact, I would say that I go even further than he himself goes in following his own advice of not making investment predictions.

Does that clear up my position for you, Madison?

Then why are you always saying Peter Schiff is wrong when he says basically the same thing as Ron Paul?

[helmuth_hubener]

Then why are you always saying Peter Schiff is wrong when he says basically the same thing as Ron Paul?

It's complicated. I appear to be unable to explain it in a way that you would understand. Sorry about that!

[helmuth_hubener]

Also, by the way, I like Peter Schiff.

Oh, subtlety! Like passing clouds, few eyes on thee are lain,
Or, like poor altostratus, thou're mistook to carry rain.

[Zippyjuan]

Nothing can go to infinity anyways.

[Ronin Truth]

Nothing can go to infinity anyways.

It can, only in mathematics, not in reality.

[TheCount]

Then why are you always saying Peter Schiff is wrong when he says basically the same thing as Ron Paul?

Ron doesn't predict.

What Ron doesn't mention in the OP quote is that the expansion of the money supply will decrease the value of money assuming that everything else stays the same. That's the gap between theory and reality, and if you cannot account for all of the other factors involved in the economy (no one can, but you can estimate), then your predictions will be wrong. Peter Schiff levels of wrong.

[Peter4Paul2016]

Precious Metals are a long term play. I'm waiting for gold to hit infinity... then I'll sell half of my holdings. Sweet! lol

[helmuth_hubener]

Precious Metals are a long term play. I'm waiting for gold to hit infinity... then I'll sell half of my holdings. Sweet! lol

Wait, what is half of infinity?

An oval?

A sideways tear drop?

[Ronin Truth]

Wait, what is half of infinity?

infinity/2

An oval?

http://dictionary.reference.com/browse/oval?s=t

A sideways tear drop?

what you get from crying, while lying on your side.

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