Capital Gold Group Report: CONGRESSMAN RON PAUL "WE WILL BE LUCKY TO GO 2 OR 3 MORE YEARS WITHOUT A CURRENCY CRISIS"
Ron Paul predicts inflationary currency crisis in 2 to 3 years on Fox News
Congressman urges gold bullion as protection
“Debt is the monster,” U.S. Rep. Ron Paul, R-Texas, declares in this interview with Fox Business News. “We are much worse off than we’ve ever been. The numbers are horrible, and we’re on our way to a real disaster, I believe.”
Warning that “the foundation has eroded,” Paul says: “We’ll be lucky if we can go two or three more years without a currency crisis, which means that we’re going to have a lot of inflation and we’re going to have disruption a lot worse than we’ve seen already.”
Gold will offer some protection if the United States cannot reduce its debts, Paul says. “I’d rather be early than late, you know. I got worried about this in 1971 when Bretton Woods broke down [that is, the United States went off the gold standard], and I did the foolish thing of buying gold systematically at $35 an ounce. So, you know, if your theories are right, you don’t really get hurt. ... You should insure against the catastrophe that is coming, but … we’re getting awfully close to it. ... The time is coming, it cannot be sustained, and some adjustments will have to be made and … the debt will have to be liquidated for us to get back on our feet again.”
When pressed to give “investment advice,” Paul says: “I’ll just tell you what I do. I think gold is a good insurance policy, and I personally buy my gold to protect my family.”
http://www.youtube.com/watch?v=H4tCBvt7yik&feature=player_embedded
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