Pulling no punches in a candid interview, former Congressman Ron Paul has taken aim squarely at the Federal Reserve, calling out the central bank’s current and future Chairs for their “unworkable” monetary policy of debt purchasing, also known as Quantitative Easing. One way or another – whether QE continues unabated or the Fed begins to taper – Congressman Paul predicts we will experience a “major crash of the dollar.”
In this exclusive one-on-one with Birch Gold Group, one of the United States’ leading dealers of gold and silver, Dr. Paul asserts that by purchasing debt at continued levels of $85 billion per month, the Fed is placing considerable stress on the value of the dollar. However, he believes it’s a no-win situation: Were the Fed to taper Quantitative Easing, even by a mere $10 billion per month, “the markets would crash”.
“It’s a system that is very friable and unworkable,” Congressman Paul declares. “And since [the Fed] will not work out of it gracefully and deliberately, we will probably go on to having a major crash of the dollar – that’s what I see happening.”
Even with an upcoming change in leadership at the Fed – with Ben Bernanke heading out and Janet Yellen taking his place – Paul only sees more trouble on the horizon. Of Yellen, he says, “She’ll make [our problems] worse. She’s inherited a mess, although she was a participant in the mess and she always argued for more inflation. The odds of her having the guts or the wisdom to start backing off the purchase of debt, it’s slim to none… But the longer it lasts, the worse the correction will be when eventually people give up on our dollar and give up on our debt.”
How does Congressman Paul recommend people protect their savings from the impending “dollar fiasco” brought on by the Fed and its current and future Chairs? He tells Birch Gold that physical gold can be an invaluable investment: “I look at gold as insurance… People who are in it for the long term, it looks to me like this would be a very good time to buy.”
Even though Dr. Paul believes that now is “a very good time to buy” precious metals, what about those people who believe that it’s too late to get started, especially with the price of gold and silver having soared since 2001? Paul sarcastically replies, “If they thought it was too late that means that they must trust the government to balance the budget, and trust the Fed not to print any more money and that you’ll never see prices going up!”
Congressman Paul elaborates on all of these topics and more in the complete interview, posted at BirchGold.com. To read or listen to the exclusive one-on-one in full, visit http://www.birchgold.com/ron-paul-interview-gold-dollar-debt-fed/
About Birch Gold Group
As the Precious Metal IRA Specialists, Birch Gold Group is the precious metals company of choice for people who want to protect their retirement savings, appreciate the personal touch and believe that integrity is still important. Their client satisfaction and record of service is exemplary, as they maintain a 5-Star Rating with Trustlink.org and are the only precious metals dealer that is a member of the Retirement Industry Trust Association. No matter your goals for safeguarding your savings, they strive to provide you with superior service. For press inquiries or more information on Birch Gold Group, please call (800) 355-2116 or visit www.birchgold.com.