Ron Paul Reveals Why He Owns Gold
By Ron Paul, for Birch Gold Group
My friends, today I want to talk to you about something I’ve owned for decades and believe in strongly: physical precious metals.
Our global economic system is astonishingly complex, highly interdependent and incredibly interlinked. These have been touted as benefits! We’ve outsourced most manufacturing to third-world nations in the name of cost-cutting. Even a “Made in the USA” Ford F150 is built from ⅓ imported parts.
On the other hand, that complexity and dependence also means the global economic system is fragile. All too recently, we have seen firsthand the devastating consequences of a financial crisis and how it sweeps around the world faster than Covid.
Today, it’s more important than ever before to protect ourselves and our families from the contagion of the next financial crisis. From the roller-coaster volatility of the financial markets. From the fragility inherent in the massively complex global economic system.
Gold is the opposite of fragile. It is a solid, stable asset that has been relied on for thousands of years – as a store of value, as a medium of exchange and as a safe haven asset during political and economic crises.
(In fact, global central bank gold buying is at a 7-decade high, a clear indication not only that I’m not the only one aware of how fragile the system is! And also that gold is a reliable store of value.)
Unlike paper currencies or digital assets, gold is tangible. You can hold it in your hand. There’s no balance sheet or profit-and-loss statement. There’s no fudging the numbers – what you see is what you get.
Now, personally I own gold as a form of long-term financial insurance. In fact, I began buying gold back way back in the 1960s, before it was technically legal. The price was just $35 an ounce back then. I’m sure glad I did! I only wish I’d bought more.
Here’s what I believe: by owning gold, I’m protected against inflation and the ongoing, frenzied money-printing that devalues the dollar.
We’ve seen dozens of instances of “fiat money” regimes collapse around the world. When paper currencies are worthless, gold has always been accepted as a form of payment. It is the one asset that has always been accepted by sellers since the beginning of human civilization – even today! Does that sound outrageous? See, for example, Bloomberg’s report about Venezuelans using gold to pay for lunches and haircuts. Or the Goldback, an extremely popular self-backing form of money.
Gold is an honest asset, unlike the financial instruments that have caused so much chaos in our economy in recent years. When you own a gold American eagle, you know exactly what you’re holding. There are no derivatives or credit default swaps to worry about, just a miniature work of art that will hold its value for generations to come.
So my fellow Americans, I urge you to consider adding gold to your savings. I don’t believe the world’s gold should be in the hands of billionaires and central banks any more than I believe the world’s guns should be in the hands of soldiers and police. It’s possible, even easy, to diversify your savings with real gold and silver.
Physical precious metals are a reliable store of value that will protect you and your wealth against many of the problems that plague financial markets. As I said before, I see it as a form of long-term financial insurance, and I’m sure you will too.
Gold is honest, tangible, and has stood the test of time. I firmly believe it’s something you can count on.
Ron Paul is a medical doctor, a retired Captain of the U.S. Air Force, an author who’s published 21 books and former twelve-term U.S. Congressman representing the state of Texas. He’s emerged as one of the leading voices challenging government’s addiction to deficit spending and the Federal Reserve’s wealth-destructive monetary policies. He works with Birch Gold Group to educate Americans about the threats to their financial futures, and how to protect themselves and their families.2023, Featured, gold as investment, ron paul