Gold News: Ron Paul Spills The Beans

When Dr Ron Paul speaks, you should listen. Not because what he says will immediately impact your life in huge ways, but because the things he talks about affect your life in subtle yet very important ways. Today’s gold news will be a case in point. In Congress, he had the reputation of being a whistleblower, to the point that his own party campaigned against him. Nothing says you’re dangerous in politics like your own party campaigning against you.

Dr Paul founded the Mises Institute, which promotes peace, liberty, and sound economics.  We’ve talked about him before. And yes, he’s a real medical doctor, too. Now that he is retired from Congress, he doesn’t make front-page news often, but is certainly worth remembering and looking in on from time to time.  

This latest interview showcases his views on “gold, war and my years in Congress”, and even has a few spicy tidbits about how many elected officials think of their constituents. Spoiler alert: it ain’t flattering.

We’ve found Dr Paul to be a balanced source of rationality, deep thought, and empathy over the years so we’ll take this opportunity to make the interview today’s featured article.

 Related: Italy’s Turmoil is Affecting the Gold Market – Here’s What You Should Know. 

About the author

Mike Hammer

Mike Hammer has had a wide-ranging career, with trading and investing as a continuing theme. Mike graduated with a business degree, then worked with Macy's. After Macy's he spent a summer trading his own account, which taught him a lot about trading in general and markets in particular. Trading through the Black Monday and the Crash of 1987 showed him how most people are unprepared for upheavals in their trading. He then joined a well-known financial planning firm as a financial advisor, helping regular people understand their finances and meet their life goals.

Then came the usual story - Mike met and married the lady of his dreams. They moved to upstate New York, where he worked first for a small manufacturing consulting company, then a major university. While loving the work and the higher-education atmosphere, Mike missed the world of finance. Eventually, he signed up for stock trading coaching with the Adam Mesh Trading Group, to learn from people who understood modern markets. Within a year, Adam asked Mike to become a stock trading coach.

Since then, Mike has trained over 200 individuals, spoken at several national conventions, and is a frequent contributor to conference calls across the Adam Mesh community. Mike writes The Gold Enthusiast daily newsletter, runs the Golden Hammer trading service, and participates in the Mesh Private Portfolio. He also keeps a position in international education which keep him in touch with "the student mindset". Mike closely follows the gold, energy, and financial sectors. His motto is "Plan your trade, then trade your plan!"

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  • Most commentators are saying that gold will sky-rocket in price because of the end of the US dollars as reserve currency and the greatest economic rest in the world’s economic history.

    Will this happen.

    What happens if the greatest depression the world has ever see happens what happens to gold prices.

    • Great question, and of course there are a lot of opinions. From past market behavior what we usually see in huge economic downturns is a short-term spike in traditional safety assets – such as gold, Treasury bonds and such – as investors look for places to protect their wealth. This is a demand-driven event. Then as people get their money placed and things settle down, all prices tend to drop in real terms. Pricing in local currency can skyrocket, but because the value of the currency is declining quickly “real costs” are dropping – because people run out of things of “value” to spend. I would expect the price of gold to spike, then plateau, then possibly begin to decline slowly after a month or three. What happens after that depends on how well the gov’ts do in responding to the situation. It would take about a book to explain it all properly, but in summary you can expect price spikes in safe havens like gold, drops in unnecessary’s, and then a period of poverty. Just like in the post-Roman Empire days, Germany after WWI, and the 1930s. – The Gold Enthusiast