This post was published at George Gammon
Ron Paul does not believe the U. S. will break into separate countries, like the Soviet Union did, but expects changes in the U. S. monetary policy, as well as the crumbling of the country’s “overseas empire.”
The godfather of the Tea Party movement and perhaps the most prominent right-leaning libertarian in America, Ron Paul, believes the economic boom the United States experienced under President Trump could be a ‘bit of an illusion.’
Mr. Paul sees inequality, inflation, and debt as real threats that could potentially cause a turmoil.
‘the country’s feeling a lot better, but it’s all on borrowed money’ and that ‘the whole system’s an illusion’ built on corporate, personal, and governmental debt.
‘It’s a bubble economy in many many different ways and it’s going to come unglued,’
In a recent interview with the Washington Examiner, Paul said,
‘We’re on the verge of something like what happened in ’89 when the Soviet system just collapsed. I’m just hoping our system comes apart as gracefully as the Soviet system.
This post was published at Zero Hedge on Fri, 12/29/2017 –.
Ron Paul has identified an increase in what he calls the ‘most insidious tax’ buried in the GOP tax reform bill.
A lot of Americans have put a lot of hope in tax reform. As Peter Schiff said in a recent Fox Business interview, the prospect of economic growth spurred by tax reform and other Trump policies have generated a great deal of optimism. But the question remains: can the GOP Congress deliver? And even if Congress does get a reform package passed, some question whether it will actually lead to the economic growth promised. Absent spending cuts, the tax plan will increase the federal debt even further. Evidence indicates high debt levels retard growth.
In a recent article published on the Mises Wire, Ron Paul identified another problem with the Republican tax plan. It actually increases the most insidious of all taxes – the ‘inflation tax.’
Paul acknowledged the tax plan has some positive elements such as increasing the standard deduction, creating a new family tax credit, eliminating the death tax, reducing the corporate tax rate, and lowering taxes on small businesses.
This post was published at Schiffgold on NOVEMBER 7, 2017.
Last Thursday, congressional Republicans unveiled their tax reform legislation. On the same day, President Trump nominated current Federal Reserve Board Governor Jerome Powell to succeed Janet Yellen as Federal Reserve chair.
While the tax plan dominated the headlines, the Powell appointment will have much greater long-term impact. Federal Reserve policies affect every aspect of the economy, including whether the Republican tax plan will produce long-term economic growth.
President Obama made history by appointing the first female Fed chair. President Trump is also making history: If confirmed, Powell would be the first former investment banker to serve as chairman of the Federal Reserve. Powell’s background suggests he will continue Janet Yellen’s Wall Street-friendly low interest rates and easy money policies.
This post was published at Zero Hedge on Nov 6, 2017.
‘President Trump, in complete contradiction to candidate Trump, has praised Yellen for being a ‘low-interest-rate-person.’ One reason Trump may have changed his position is that, like most first-term presidents, he thinks low interest rates will help him win reelection. Trump may also realize that his welfare and warfare spending plans require an accommodative Fed to monetize the federal debt. The truth is President Trump’s embrace of status quo monetary policy could prove fatal to both his presidency and the American economy.’ – Ron Paul, Institute for Peace and Prosperity
Editor’s note: This issue of our newsletter features several interactive, live charts offered in conjunction with the St. Louis Federal Reserve and the ICE Benchmark Administration/LBMA. You can access statistical details by moving your cursor over the charts. If the chart does not automatically update, please move the toggle button on the year bar all the way to the right. We invite you to bookmark this edition for future reference.
CHART 1: Sustained by both political parties, the national debt has taken on a life of its own
This post was published at GoldSeek on 1 November 2017.
Authord by Ron Paul via The Ron Paul Institute for Peace & Prosperity,
This week President Trump revealed his final five candidates for Federal Reserve chair. Disappointingly, but not surprisingly, all five have strong ties to the financial and political establishment.
The leading candidates are former Federal Reserve governor and Morgan Stanley banker Kevin Warsh and current Fed governor, former investment banker, Carlyle Group partner, and George H. W. Bush administration official Jerome Powell.
This post was published at Zero Hedge on Oct 23, 2017.
Stock markets continue to surge higher on a seemingly endless upward trajectory. On Tuesday, the Dow Jones crossed the 23,000 mark for a time and closed just below that threshold at 22,997.
It almost seems like this can go on forever, but Ron Paul said it would eventually come to an end during an interview on CNBC Futures Now last week. He said it reminds him of ‘delusions and the madness of crowds.’
Of course, as Paul pointed out, even though we don’t know exactly when it will eventually crash, the market can’t go up forever. And Paul offered a sobering warning.
‘My position is the longer it lasts, the bigger the bust.’
So what’s really behind the meteoric rise in stocks? Paul echoed what Peter Schiff and other contrarians have said – it’s a big bubble pumped up by central bank intervention.
This post was published at Schiffgold on OCTOBER 18, 2017.
Each Federal Reserve bubble must turn into a bust. It’s unavoidable.
This post was published at Zero Hedge on Oct 14, 2017.
Not long ago, Federal Reserve chair Janet Yellen proclaimed an economic meltdown like the one we saw in 2008 will not likely happen again ‘in our lifetime.’ Why? Because banks are ‘very much stronger.’
Apparently, at least some of the world’s big bankers don’t agree with Yellen’s assessment.
Over recent weeks, officials from a number of the world’s major banks have warned that the current trajectory is unsustainable, and a crash may loom on the horizon.
Now, if you’re a regular reader of the SchiffGold blog, you are used to warnings about unsustainable Federal Reserve policy, asset bubbles, and an imminent collapse. People like Ron Paul have been saying for years, you can’t run the world like this. It may be tempting to blow off all of this as hyperbole, or simply the musings of economic contrarians.
But these latest warnings don’t come from ‘gold bugs,’ ‘preppers’ or political outsiders. These bankers are the ultimate mainstream insiders, and it appears they’re getting nervous – despite Yellen’s unbridled optimism.
Richard Palmer from The Trumpet chronicled some of these statements.
The chief economist for the Bank of International Settlements sounded the most dire warning last month.
This post was published at Schiffgold on JULY 28, 2017.
Last month, Federal Reserve chair Janet Yellen made a bold prediction, saying an economic meltdown like the one we saw in 2008 will not likely happen again ‘in our lifetime,’ because banks are ‘very much stronger.’
Ron Paul begs to differ.
In fact, during an interview on World Alternative Media, the former congressman said Yellen’s comments should probably make us more than a little nervous because, ‘central bankers are always wrong on their predictions – especially before a bust.’
What she says shouldn’t reassure anybody.
This post was published at Schiffgold on JULY 18, 2017.
The following video was published by X22Report on Jul 16, 2017
Many of the EU countries are at the point where more and more people are falling into poverty. The stats don’t add up, unemployment decreases and retail sales decreases and the restaurant industry declines rapidly. Visa is offering restaurants $500,000 not accept cash. Illinois pension system was created by manipulating the numbers. Ron Paul says when the central banks make the statement that everything is Ok, this is when the economy collapses.
The global dollar-based monetary system is in serious jeopardy, according to former Texas Congressman Ron Paul. And contrary to Fed Chairwoman Janet Yellen’s assurances that there won’t be another major crisis in our lifetime, the next economy-cratering fiat-currency crash could happen as soon as next month, Paul said during an interview with Josh Sigurdson of World Alternative media. Paul and Sigurdson also discussed false flag attacks, the dawn of a cashless society and the dangers of monetizing national debt.
Paul started by saying Yellen’s attitude scares him because “central bankers are always wrong – especially before a bust.”
‘There is a subjective element to when people lose confidence, and when is the day going to come when people realize we’re dealing with money that has no intrinsic value to it, we’re dealing with too much debt, too much bad investment and it will come to an end. Something that’s too good to believe usually is and it usually ends. One thing’s for sure, we’re getting closer every day and the crash might come this year, but it might come in a year or two.’ ‘The real test is can it sustain unbelievable deficit financing and the accumulation of debt and it can’t. You can’t run a world like this, if that were the case Americans could just sit back and say ‘hey, everybody wants our money and will take our money.’
This post was published at Zero Hedge on Jul 15, 2017.
Precariously overstretched equity valuations and the purportedly ‘data dependent’ Federal Reserve’s insistence on raising interest rates could bring about the next market correction as soon as October, former Congressman Ron Paul said during a recent appearance on CNBC’s “Futures Now.”
The stock market’s fragility – exposed by a series of volatility events in recent months – suggests that the Fed should tread carefully. However, policy makers, it seems, are focused on bracing for the next crash, and have telegraphed to the market that they will continue to hike rates, even as they struggle for justification.
All of this suggests that stocks could be in for a hard landing as soon as this fall, Paul said.
“I think that it will have a negative effect but I’m not going to say where it’s going exactly. I would not be shocked if in October if its 25% lower than it is now.’
This post was published at Zero Hedge on Jul 4, 2017.
Last week, Ron Paul appeared on CNBC’s Futures Now and said he wouldn’t be surprise if the stock market crashes and the price of gold soars in the near future.
If our markets are down 25% and gold is up 50%, it wouldn’t be a total shock to me.’
The former congressman and presidential candidate said uncertainty is the rule of the day and that’s giving the market the jitters.
I think the markets are very nervous for good reason. They don’t know what to expect, and it’s unpredictable what the Fed will do. It’s also unpredictable how the markets will react. But I think if the signs are the economy is weakening even more so – and I don’t accept this idea that employment is magnificent and perfect and will last forever – so, I think if they raise rates again, it mighty be another factor. But right now it looks like some of those markets are a little shaky already.’
Paul pointed out that central planners are really incapable of knowing what to do. That means we should be wary of whatever actions they may decide to take.
This post was published at Schiffgold on JULY 3, 2017.
The following video was published by misesmedia on Jun 30, 2017
Dr. Ron Paul joins Jeff Deist to talk about his decades as a congressman fighting the Fed, his efforts to legalize the use of gold and silver as untaxed currency, and his involvement with sound money initiatives in states like Arizona and Wyoming. Plus, Dr. Paul shares some great anecdotes about Reagan’s Gold Commission, Alan Greenspan, and Paul Volcker.
The quote in the headline comes from Ron Paul, and it should be the goal of every conservative lawmaker in the entire country. When professional politicians tell you that they are in favor of reforming the tax code or reducing taxes a little bit, essentially what they are telling you is that they are perfectly fine with the status quo. They may want to tweak things slightly, but in general they are content with big taxes, big spending and big government. I spent an entire year getting a Master of Laws in Taxation at the University of Florida Law School, and in my opinion the best thing that Congress could do to the tax code would be to run it through a shredder and put it in a dumpster. As I noted the other day, the tax code is now more than four million words long and it takes Americans about six billion dollars a year to comply with it. Those that believe that they are offering the American people a ‘solution’ by proposing to tinker with this abominable mess are just fooling themselves.
The only long-term solution that is going to work is to get rid of the entire steaming pile of garbage. Ron Paul understood this, and we would be very wise to take his advice. The following is the full version of the quote from the headline above…
‘By the way, when I say cut taxes, I don’t mean fiddle with the code. I mean abolish the income tax and the IRS, and replace them with nothing.’
This post was published at The Economic Collapse Blog on June 19th, 2017.
Memorial Day provides the political class countless opportunities to ruin an otherwise thoroughly enjoyable holiday weekend. Like clockwork, local congressmen, mayors, city council members, et al. materialize at parades, picnics, and churches to give speeches about “freedom.”
But what does freedom really mean?
Just as we should repudiate Junk English in economics, we should demand precision when it comes to the language of political posturing! In other words, we should insist that politicians use defined terms (I’m not holding my breath).
In essence, freedom is the absence of state coercion. Nothing more, but certainly nothing less.
Dr. Ron Paul explains this coercive reality behind those invoking freedom while advocating state action:
Few Americans understand that all government action is inherently coercive. If nothing else, government action requires taxes. If taxes were freely paid, they wouldn’t be called taxes, they’d be called donations. If we intend to use the word freedom in an honest way, we should have the simple integrity to give it real meaning: Freedom is living without government coercion. So when a politician talks about freedom for this group or that, ask yourself whether he is advocating more government action or less.
This post was published at Ludwig von Mises Institute on May 29, 2017.
Good news for precious metals investors in Arizona.
On Monday, Gov. Doug Ducey signed a bill into law that eliminates states capital gains taxes on gold and silver specie. It tax repeal will not only benefit Arizonans who invest in gold and silver, it will also facilitate their use as currency and undermine the Federal Reserve’s monopoly on money.
Rep. Mark Finchem (R-Tucson) sponsored HB2014. The legislation eliminates state capital gains taxes on income ‘derived from the exchange of one kind of legal tender for another kind of legal tender.’ The bill defines legal tender as ‘a medium of exchange, including specie, that is authorized by the United States Constitution or Congress for the payment of debts, public charges, taxes and dues.’ ‘Specie’ means coins having precious metal content.
In effect, passage into law will ‘legalize the Constitution’ by treating gold and silver specie as money.
The new law will go into effect Aug. 9, 2017.
Getting Gov. Ducey’s signature on the bill was a major victory, and the culmination of more than five years of work by supporters of sound money in the Grand Canyon State. Similar legislation passed the legislature in 2013, 2015, and 2016, but Gov. Jan Brewer vetoed the first two bills, and Gov Doug Ducey killed last year’s effort.
Grassroots support was crucial in pushing this legislation across the finish line this year. A dedicated group of volunteers lobbied for the bill, and Ron Paul traveled to Arizona and testified on its behalf.
This post was published at Schiffgold on MAY 24, 2017.
by Ron Paul Liberty Report staff
Undermining the Federal Reserve received a major boost yesterday.
Arizona Governor Doug Ducey signed into law a bill that eliminates capital gains taxes on gold and silver, thus allowing Arizona residents to use precious metals as currency instead of Federal Reserve notes.
Currency competition against the monopolist Fed is starting to unfold. Let’s hope that other states follow in Arizona’s heroic footsteps. There’s no reason to wait for another severe financial crisis to act.
Read Ron Paul’s statement via The Campaign For Liberty below:
Campaign for Liberty Chairman Ron Paul and Campaign for Liberty President Norman Singleton issued the following statements regarding the Arizona Legislature’s passage – and Arizona Governor Doug Ducey’s signing – of HB 2014.
HB 2014 defines gold, silver, and other precious metals as legal tender and exempts them from capital gains taxes, thus allowing Arizona residents to use precious metals instead of Federal Reserve notes.
This post was published at Gold Core on May 24, 2017.