Make Sure You Have Plenty of Gold and Silver!
Ron Paul says, “Massive public unrest… violence… authoritarianism!”
Make sure you have plenty of gold and silver, because it’s not going to be pretty!
No one has a better track record than former Congressman and presidential candidate Ron Paul when it comes to foreseeing the results of government interventions. Whether it is foreign policy like the Iraq war and the other regime change calamities, or economic like the housing bubble and inflation.
Now Dr. Paul is warning about the next economic crisis.
“Disappointingly, but not surprisingly, Congress was too preoccupied spending billions more on military aid for foreign countries and banning TikTok to pay attention to the looming bankruptcy of the two largest federal entitlement programs,” says Dr. Paul. “Many in Congress no doubt believe they can ignore the impending bankruptcy of Social Security and Medicare because they can count on the Federal Reserve to do the ‘dirty work’ of cutting real benefits and raising taxes. This result can be produced via the hidden, and regressive, ‘inflation tax.’”
Both the Social Security and Medicare funds covering hospital expenses will begin running red ink in 2035 and 2036, according to fund trustees.
Dr. Paul says that even though interest on the debt is now the third largest item in the federal budget, behind Social Security and Medicare and ahead of military spending, few in Congress are serious about cutting welfare or warfare. They believe the Fed will cover things over by printing money.
The Federal Reserve’s purchase of federal debt will result in price inflation, says Paul.
It will also encourage more government spending by reinforcing the uniparty delusion that, as former Vice President Dick Cheney said, “deficits don’t matter.” The Federal Reserve’s inflationary policies artificially lower the interest rates, which are the price of money. The artificially low interest rates distort the signals sent to investors and entrepreneurs, leading to malinvestment. This creates bubbles resulting in illusionary prosperity. Eventually, economic reality will catch up with the Fed-created illusions and the bubbles will burst, causing an economic downturn.
The next economic crisis will likely either be caused by or result in a rejection of the dollar’s world reserve currency status. Congress will be forced to make drastic cuts in spending while the Fed will be enabled to monetize the debt. This will result in massive public unrest potentially resulting in violence, the rise of authoritarian movements on the left and right, and increasing authoritarianism.
-Ron Paul
During his long tenure in office, Ron Paul was the foremost monetary and gold authority on Capitol Hill. “Those who truly want a monetary system free from political interference should join the movement to restore government’s constitutional limits and separate money and state.”
Until the Constitution is back on top, own gold and silver!