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Concern About the U.S. Gold Supply
THE SOVEREIGN INVESTOR >> September 8, 2010
Exclusive Interview with
Ron Paul Reveals Major Concern about
U.S. Gold Supply
By Bob Bauman
Yesterday I got a rare chance to talk to an old friend of mine who has by now become a household word to many concerned Americans -- U.S. Rep. Ron Paul (R-Texas).
I first came to know Ron when we both served in the U.S. House of Representatives in the 1970s – and we almost always voted alike on the issues.
I am certain that most of you recall Ron’s 2008 presidential campaign and the surprising enthusiasm and support this avowed Libertarian was able to generate. While he did not come close to winning he received over $32 million in contributions, almost 99% from individuals -- and he produced an army of true believers that is still around.
None of this surprised those of us who have known Ron for a long time, but his candidacy was a shock to the leftist elites and the liberal news media.
In my recent conversation with Ron, he made some startling revelations to me.
What Ron Paul Revealed
Exclusively in Our Conversation
He told me he is considering another campaign for president of the United States. “It’s something I think about every single day,” Ron told me.
Earlier this year, he won a somewhat surprising victory in the Conservative Political Action Conference's (CPAC) presidential straw poll.
Political observers say that this two-time presidential contender could wreak havoc for Republicans if he decides to make a third-party or independent bid for president in 2012.
Ron cited an increased national awareness and new enthusiasm for his Libertarian views that he said resulted from his 2008 campaign. It will be a “tough decision” he said, but indicated that he thinks Americans are ready for a new direction in national politics.
Ron Paul’s Latest Demand May Send Gold Prices Soaring
What I found really interesting was that Ron called on the Obama administration to allow an audit of all government gold reserves. His goal is to determine their total amount and to see if there is official manipulation of gold prices.
Imagine what would happen to the price of gold, if true reserves turn out to be less than the stated amount.
Gold prices move the way most prices do – based on simple laws of supply and demand. If supply sharply declines, prices will soar. This could create a windfall for investors.
Earlier this year, Congress backed his call for an audit of the Federal Reserve. Chances are Congress will back his demand for the gold supply audit, too.
What an Audit Could Mean for the Dollar
If an audit showed the U.S. to have significantly less gold in reserve than stated, creditors world-wide may push hard for a new world reserve currency. They may demand that the U.S. increase its gold supply – a tough thing to do right now amid sky-high government debt.
Either way, the dollar will suffer.
Ron told me, “eventually the dollar is doomed” as the world’s reserve currency unless the U.S. government abandons its international “imperial” policies and leaves both Afghanistan and Iraq.
These are just a few highlights of our conversation. I recommend you listen to the full Ron Paul interview at
Legal Counsel, The Sovereign Society
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