A Quote by Ron Paul
If you're really serious about protecting people's incomes, you've got to consider how you're going to protect the dollar. If you don't have the dollar maintaining its value, no matter where you put the money you're not going to have any value.
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Gold has intrinsic value. The problem with the dollar is it has no intrinsic value. And if the Federal Reserve is going to spend trillions of them to buy up all these bad mortgages and all other kinds of bad debt, the dollar is going to lose all of its value. Gold will store its value, and you'll always be able to buy more food with your gold.
The value of a dollar is to buy just things; a dollar goes on increasing in value with all the genius and all the virtue of the world. A dollar in a university is worth more than a dollar in a jail; in a temperate, schooled, law-abiding community than in some sink of crime, where dice, knives, and arsenic are in constant play.
As the dollar's exchange value declines, so will the value of dollar-denominated financial instruments, regardless of how many bonds the Federal Reserve purchases.
Back in 1960, the paper dollar and the silver dollar both were the same value. They circulated next to each other. Today? The paper dollar has lost 95% of its value, while the silver dollar is worth $34, and produced a 2-3 times rise in real value. Since we left the gold standard in 1971, both gold and silver have become superior inflation hedges.
It is unlikely that others would even demand their money back overnight, for doing so would lead to the value of the dollar plummeting; what they would get back with be worth little. But what we are already seeing is an erosion of confidence of the dollar, which is seeing the dollar fall in value.
Most paper money initially existed as a substitute for gold. That's what gave it value. But right now what gives a currency value is other currency. Most countries hold reserves and the reserves are other currencies. If you are a backing up the euro with the dollar, what's backing up the dollar? I don't think it is going to go to a point where all you have is coins and bars of gold, but I do think that we are going to have to go back to a monetary system based in gold, not based on paper.
They say kids today don't know the value of a dollar. They certainly do know the value of a dollar. That's why they ask for five.
Dollar bills have absolutely no value except in our collective imagination, but everybody believes in the dollar bill.
When the commodities go up and the cost of transportation is going up, and the value of the dollar is going down, it's all going to translate to an 8 to 10 percent rise in food prices.
At the end of the day, I think the most conservative principle there is, is giving people a dollar worth of value for a dollar worth of tax paid.
Donald Trump disproved the notion that there is a direct dollar-for-dollar correlation between how much money you had in your traditional war chest and what your election outcome was going to be.
I am concerned about the erraticness of the dollar. The dollar is up, the dollar is down. We print a lot of dollars. The dollar gets devalued. That is really the concern. If people think the gold price up and down is a reflection of something wrong with gold, no - I say it is something wrong with the dollar.
We in the Congress have a moral and constitutional obligation to protect the value of the dollar and to understand why it is so important to the economy that a central bank not be given the unbelievable power of inflating a currency at will and pretending that it knows how to fine-tune an economy through this counterfeit system of money.
Those who value a strong safety net for our neediest citizens see that every extra dollar spent on these unions is a dollar that cannot go to help the sick, the elderly, and the vulnerable.
When the dollar collapses, it's not doing it in a vacuum. If the dollar loses value, it's doing so relative to some other currency. So the purchasing power that we lose, somebody else gets.
I want people to be inspired to do what's in front of them. If you won't give a dime out of a dollar, don't talk to a billionaire about giving their money away because if you don't give a dime out of a dollar, I can promise you, you're not going to give a 100 million out of a billion. It's a lie.
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