Ron Paul: I’ve watched this since 1971 and believe me the printing is going to continue
Ron Paul was out this week to give a quick interview on CNBC to talk about the recent bump in gold prices – as always with the good doctor’s appearance on TV, it is one of the rare examples of guest talking total sense.
He was asked for his thoughts on what is driving the price of gold:
I don’t like to pretend that i know what precipitates these short term swings, markets move, they get too high, they come back down, they find all kinds of excuses. I look at it more as a fundamental monetary system – you know, i see gold as money. And when gold goes down the dollar is going up temporarily.
But long term the only thing that i think is really important is the creation of money and credit and nobody is arguing the case that we’re not doing that. The only argument is are we going to create $85bn a month or is it going to be $75bn – the markets will not even tolerate thinking about $75bn. So, the long-term fundamentals says they’re printing the money, they’re doing it like crazy – i’ve watched this since 1971 and believe me the printing is going to continue, the value of the dollar will go down, and gold will go up.
At around 2 minutes into the clip Ron Paul gives his response to Ben Bernanke’s rather bizarre claim in front of Congress that “nobody really understands to gold price” – it’s worth the price of admission alone.
Link to this article: : http://www.goldmadesimplenews.com/interviews/ron-paul-ive-watched-this-since-1971-and-believe-me-the-printing-is-going-to-continue-11302/