Are more people going to think of gold as money in the wake of the Cyprus crisis? "Absolutely," former Congressman Ron Paul, R-Texas, tells Fox Business in a March 20 interview that also touches on the Federal Reserve.
"And that's the nature of government. When they get into trouble, they either try to raise taxes, which is confiscation, but this is a little bit more blatant. ... But we're not immune from these kinds of things. It happened in the Depression and different times. So, yes, the ultimate test is money. Not because I think it's money but because history has proven that. If you really want to know the ultimate money, think of the countries that get into trouble and people try to leave their borders. Do you think you can give a paper dollar or a paper currency to bribe somebody at the border? No, you need gold because gold is the ultimate money." Paul dismissed the stock market's recent gains as "price fixing" stemming from the Federal Reserve's massive quantitative-easing program.
"And that's the nature of government. When they get into trouble, they either try to raise taxes, which is confiscation, but this is a little bit more blatant. ... But we're not immune from these kinds of things. It happened in the Depression and different times. So, yes, the ultimate test is money. Not because I think it's money but because history has proven that. If you really want to know the ultimate money, think of the countries that get into trouble and people try to leave their borders. Do you think you can give a paper dollar or a paper currency to bribe somebody at the border? No, you need gold because gold is the ultimate money." Paul dismissed the stock market's recent gains as "price fixing" stemming from the Federal Reserve's massive quantitative-easing program.
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