Skip to comments.Ron Paul Owns Millions in Gold Interests (Portfolio amounts to huge bet against the US economy)
Posted on 08/26/2011 6:14:09 PM PDT by SeekAndFind
For decades, Rep. Ron Paul, R-Texas, has warned that our fiat currency will collapse around us, leaving everyone in economic shambles. Gold, he says, is the surest path back to sound money.
In a CNBC interview earlier this month(during which host Joe Kernen misidentified Paul as not being a gold investor), Paul extolled the virtues of gold as protection against the continuing ripples of the global financial crash. "I think what we're dealing with is the end of the dollar reserve standard," Paul said. "This is probably a bigger problem than the world has ever faced before." But, fittingly, Paul has invested in gold--heavily. He owns millions of dollars in gold mining interests, Barron's Jim McTague recently reported, calling Paul's portfolio a successful bet against the U.S. economy:
In his most recent financial disclosure, which covers the year 2010, Paul had $1.6 million to $3.5 million in gold-mining stocks. He also has a stake in three bear-market funds--and has for many years.
In all, Ron Paul's portfolio amounts to a super-bearish bet against the U.S. economy. If the country had defaulted on its debt earlier this month, he likely would have made a bundle. The congressman voted against House Speaker John Boehner's [R-Ohio] plan to lift the nation's $14.3 trillion spending cap.
(Excerpt) Read more at nationaljournal.com ...
Paul’s right about the gold standard for the dollar. The wheels came off after Nixon took us off a fixed standard.
So Ron is not free to invest in what he thinks is safe?
So now investing in gold is betting against the US economy?
So now being patriotic is sticking with worthless fiat money printed out of thin air, and less and less people want to buy our debt?
Given who’s in the White House tanking our economy on purpose, we’re all just supposed to go down with the ship and go broke when inflation and hyperinflation occur, because Barry wants to make everyone equal (ie poor) and can’t do it fast enough?
Right now he is my first choice. I don’t agree w everything he says, but on econ issues he is solid.
The dollar went from the gold standard to petrodollars. IE the worth of the dollar was pegged to oil. And was the standard trading currency for oil.
Now that the dollar is weak and being printed like water and the debt is monstrous and only getting bigger, that’s where many oil nations want to peg trading to other currencies.
At the very least he should have a disclaimer that he is a big gold investor. Guess there is a double standard for Paul. He doesn’t have to be honest.
Hoarding/having gold is unpatriotic.
Next step an opportunity to "come clean" and sell all your gold to
Obama the government.
Then an opportunity to turn it in without penalty.
Then seizure at gunpoint.
For goodness sake, this retard thinks that George Bush was personally involved in 9/11. He thinks Iran would be a prudent keeper of nuclear weapons. The list goes on.
The man is a freakin’ nutzo retard.
Huh? Hasn’t Ron Paul always openly advocated for gold? How is this inconsistent with his normal positions?
RE: So Ron is not free to invest in what he thinks is safe?
The fact does he IS investing as he is proves that he is as FREE as anyone else to do what he wants with his money.
Why would you put most of your money in gold if you don’t believe that the US Dollar is going to be debased?
If a true conservative wins the WH, I would love to see this guy put in charge of the Fed. Democrat and Republican heads would be exploding everywhere!
Its not “a bet against the U.S. economy”, its a realization that funny money is flying out of Obama’s a$$ into circulation faster than we can create wealth- like trillions of times faster.
Since when is reality based investment a bet against the economy?
“”I dont agree w everything he says, but on econ issues he is solid.””
He’s right on domestic and economic policies but I part with him on international as I’m sure most people do. He’s pretty whacky when it comes to international problems. But he could be right - keep our nose out of everyone else’s business. Nothing wrong with that except when it comes to Israel and he’s way off base on Iran.....I wonder if he’d like to backtrack on his statements from the last debate regarding Iran’s nuclear ambitions.
I guess we’ll see in the next debate. Sure hope it’s a better debate than the last one. I don’t want to see Chris Wallace on the panel the next time.
As much as I dislike Ron Paul and his views (a LOT) I find it hard to castigate someone who invests their money in a way that indicates they think the economy is going to do poorly, and they want as much of their money to survive.
What the heck is he supposed to do?
Looks to me like Ron Paul owns a lot of PAPER!
Physical gold is the only thing to own, if you want to OWN gold.
If Ron Paul owns physical gold, you can bet he’s not going to tell anybody about it. He may be a bit odd at times, but he’s not stupid.
It was a good bet.
“So now being patriotic is sticking with worthless fiat money printed out of thin air, and less and less people want to buy our debt?
Oh darn! Grammar Nazi time.
Sorry dude, what you say is 100% accurate. But how you say it makes you look a little “not quite up there.”
The ‘correct’ version is: “fewer and fewer people...”
Please don’t take this as a criticism. I write for a living, so I’m just a little more anal than most. :)
Otherwise, right on post.
Baloney. Gold shares are not ‘paper’. They have been excellent investments and will continue to be.
[Next step an opportunity to “come clean” and sell all your gold to Obama the government. ]
For a full history of the Fed, and how FDR stole the gold, go here. It’s long, but skip to the history.
A disclaimer? What on earth for? Is investing in gold shameful? How is he not being truthful. The list of his holdings is right in front of your eyes? Or did you read this left wing trash article and swallow it hook line and sinker like a rube?
We own gold too. We have been investing in physical gold since 1997.
I don’t see a problem with this. The jacka$$ in the Whitehouse is forcing us to buy gold since he is clueless about fixing the economy.
Now it would really be news if he invested in California bonds.
If Paul was betting on gold, as a conflict of interest.
He would want the Fed to print money.
Everything he has said and done, is contrary to that.
Whatever my opinion of Ron Paul, it’s neither surprising nor inconsistent with his stated principles to find out he’s a goldbug.
Well, it’s all fine and good. He can certainly buy what he wants. But it gets a little tipsy when he goes around promoting buying something that he’s heavily invested in himself, and then promotes voting against a bill to keep us out of possible default, at which time he makes a ton of money in the event we default.
Tipsy, yes, makes your eyes twitch a little bit, but all perfectly legal and does not represent totally corrupt.
On the other hand the old weasel runs the nastiest campaign very similar to Obama trying to knock everybody else off the slate with weasly actions so he can run with little to none contest.
Why am I not surprised?
I am not a Ron Paul fan, but I see nothing wrong with him investing in gold stocks. It just goes to show that he “puts his money where his mouth is.” Love him or hate him, Paul has long been one of the most principled members of Congress. The notion that he voted against the debt deal just to boost his personal portfolio is beyond absurd. Typical liberal libel against a Republican
He needs his voice heard. Top of the ticket does not appeal to me. Head in the sand foreign policy is a no go.
He already did. I have seen Ron lots of times pull out a gold coin from his pocket.
Paul is doing everything possible, to avoid gold skyrocketing.
This is a “concern troll” thread.
What’s more important, is why?
Who’s scared of Paul?
Early bird special or geriatric titty bar?
This isn't necessarily so...he's been complaining about our monetary policy forever...what's he supposed to do...go against his beliefs and be a sitting duck?
i.e. I hate our overspending, raising the debt ceiling just allows the rats to do it again and again...but I'm still trying to protect myself.
So you think voting _against_ raising the debt limit, is a selfish attempt to drive down the value of the dollar?
Sorry, not really following that logic.
Seriously. Can you please explain?
How is there a double standard? He walks his talk. If you want an analogy, it’s like a Christian who both leads a virtuous life and advises that others do so as well. Nothing wrong there. He thinks “cash is trash,” tells others, and puts his own money where he thinks it will be safe.
“A gold coin in every pot!”
$2.00 per gallon gas.
I bet it was the early bird special AT the geriatric titty bar!.
He knows where Obama is taking us.
Since when is betting against the Fed the same as betting against America?
“(Portfolio amounts to huge bet against the US economy)”
Huh? Guess everyone on FR better sell their gold fast, so they won’t be betting against the US economy.
Ron Paul has been warning about this for years - so I don’t blame him for taking action himself with his own money.