Last week, Birch Gold Group had the privilege to conduct an exclusive one-on-one interview with former Congressman and Presidential candidate Ron Paul. In the candid discussion, Dr. Paul discussed a number of topics with us, including…
The long-term effects of the Fed’s program of Quantitative Easing: “The longer it lasts, the worse the correction will be when eventually people give up on our dollar and give up on our debt.”
Whether incoming Fed Chair Janet Yellen solve our problems: “She’ll make them worse. She’s inherited a mess, although she was a participant in the mess and she always argued for more inflation… so the odds of her having the guts or the wisdom to start backing off the purchase of debt, it’s slim to none.”
Why the Fed will destroy the dollar and markets: “If they decided right now to only buy $75 billion worth of government debt per month, the markets would crash… It’s a system that is very friable and unworkable and since they will not work out of it gracefully and deliberately, we will probably go on to having a major crash of the dollar.”
Is now a good time to buy gold? “Right now, gold is in a bit of a correction… But markets aren’t always smooth, and the gold market isn’t smooth, so it goes up, it might go up too much, and at times too fast and then it makes a correction because the traders are in there and they have all kinds of motivation. If people look at it long-term, from when the Fed started when it was $20 an ounce up to the time it went up $1,900 an ounce, you know, that’s more of the trend. Of course now it’s down. Instead of people arguing that it’s too “expensive”, I would think people who are in it for the long term, it looks to me like this would be a very good time to buy.”
To those who think it’s too late to get started with gold: “If they thought it was too late that means that they must trust the government to balance the budget, and trust the Fed not to print any more money and that you’ll never see prices going up!”
Truly a fascinating interview, and we thank Congressman Paul for his time. Click here to read the full transcript of this interview.