arnoldcabell
Banned
Ron Paul is for an immediate return to the gold standard without a build-up of the reserves.
WI: Ron Paul elected President in 2008?
- Thread starter arnoldcabell
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That would not be possible without the needed levels in gold reserves in fort knox.
It would be possible, it would just cause an extreme recession without any sort of assistance or intervention from the federal government
arnoldcabell
Banned
Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty
Texas Rep. Ron Paul, suggesting America's reserves may not be as robust as officials claim, is calling for an independent audit of the U.S. gold held at Fort Knox and other facilities.
www.foxnews.com
Ron Paul places no particular importance on the Fort Knox Gold.
There’s a big difference between Ron Paul stumbling his way into the White House vs. the Republican Party adopting his philosophy wholesale. I imagine he’d get next to nothing done - there are compromises he could make to whittle down Social Security or Medicare, but he is not a big compromise guy. He could use his Presidential powers to draw down the global reach of the US military. He could do other stuff as well, but I don’t imagine he’s going to want to push Presidential powers he thinks are illegitimate.
Gridlock in Congress as they won’t write bills he likes and he vetos most of what they do. Economy in the trash with no support, stimulus, or direction. Large numbers of decommissioned soldiers with no career prospects out in the streets.
Gridlock in Congress as they won’t write bills he likes and he vetos most of what they do. Economy in the trash with no support, stimulus, or direction. Large numbers of decommissioned soldiers with no career prospects out in the streets.
Fort Knox was what was used to back the dollar during the time of the gold standard.Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty
Texas Rep. Ron Paul, suggesting America's reserves may not be as robust as officials claim, is calling for an independent audit of the U.S. gold held at Fort Knox and other facilities.
Ron Paul places no particular importance on the Fort Knox Gold.
Honestly I think the best case scenario for Ronny is
- Gore wins 2000, dies in 9/11 equivalent; Lieberman picks Edwards as VP, narrowly wins against McCain in 2004, extreme war on terror that loses popularity over time, financial crisis in 2007
- Paul gets elected to the Senate in 2002, giving him more experience on a national stage; he doesn’t run in ‘04 and instead waits until 2008, going in against a heavily divided field of mainstream Republicans and quickly gaining momentum, with his opponents dropping out and supporting him quickly to avoid a divided field
- Despite facing heavy opposition for being part of the unpopular Lieberman administration and having a couple spirited challenges, Edwards gets the Democratic nomination after an ugly primary season
- Paul loses the popular vote but gets a decent win electorally, 300-240 maybe; Republicans have a majority in Congress, let’s say 240-190 in the House and 60-40 in the Senate, but not enough for a supermajority
- Paul immediately starts pushing for abolishing all of the federal agencies he doesn’t like, returning to the gold standard, privatizing federal land, and legalizing marijuana
- This erodes his base of support in Congress and he isn’t able to pass what he wants, only severely watered down versions, if anything at all; Congress practically, if not actually, shuts down because Paul refuses to cooperate
- Democrats wins big in midterms, maybe 70 seats in the House and 6 or 7 in the Senate
- Paul fares even worse against a narrowly divided Senate and enemy House, and doesn’t win re-election or manage to implement his ideas to nearly the extent he wanted
- However, he still wins in a way; being the President doesn’t get his ideas passed, but it makes a lot of people think they should, and in 2012 a lot of new Republicans elected are more in line with his ideas than the old crowd; whatever Democrat manages to succeed him is going to be facing a much more polarized Republican presence
- Even getting him nominated is stretching it, however
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We only have 250 million ounces of gold. The economy is $25 trillion. If the price of gold skyrockets 100× or economic activity contracts 100× the economy will crash like it was Weimar Germany. Paul would be overthrown and his successor would abandon the idiotic gold standard.
Ron Paul's policy is sound money. Without enough gold reserves to back the dollar in would be a fake gold standard, not a real gold standard.
Handwaving away newslettergate and what not, the reality is Paul's Presidency would be much like Trumps. Power in DC is institutionalized and is not changed by a different guy up there. Paul, even as commander-in-chief will be ignored if he just tries to close military bases and what not. The reality is if he is not impeached over breaking some federal statute (which pretty much anything could be conceived because there are so many statutes) he'd be a lame duck on day one.
I voted Paul twice. And even knowing the preceding, I'd do it again. But that's the nature of US politics.
I voted Paul twice. And even knowing the preceding, I'd do it again. But that's the nature of US politics.
After needlessly causing a 90% crash in the economy, three to four times more severe than the Great Depression, he would not be removed through impeachment: he would be shot and killed during a coup. Mass starvation tends to sharply erode one's approval ratings.
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The modern primary process did not exist in 1968.
It certainly is in 2008.
Very different world, with very different banking systems. Gold coins were widely held rather than being preserve of a very small minority and silver coins stayed legal tender. Just not part of the exchange standard.
So the impact was very different. It would be at best an irrelevance in 2009 and at worst just add to the banking failures from non intervention.
So does every USD note, USD denominated deposit in banks and other assets/liabilities immediately become worthless?Rep. Paul Calls for Gold Audit, Questions Whether Fort Knox Is Empty
Texas Rep. Ron Paul, suggesting America's reserves may not be as robust as officials claim, is calling for an independent audit of the U.S. gold held at Fort Knox and other facilities.
Ron Paul places no particular importance on the Fort Knox Gold.
Only gold coins and bullion count?
How do you back trillions of dollars of currency, deposits and other financial assets without enough gold to do so at any reasonable conversion price?