The Federal Reserve will not be able to revive the economy under the leadership of Janet Yellen, said Dr. Ron Paul.
The former U.S. congressman, and former Republican presidential candidate spoke with Kitco News during the Metals & Minerals Conference and said he does not expect Yellen to change the monetary policy that is currently in place. In fact he expects that she could be even more aggressive than current chairman Ben Bernanke.
“She is a very aggressive inflator. She really believes in quantitative easing and that is the only thing they know,” D. Paul said. “I think she is very dangerous. I think she will be dangerous to the U.S. dollar.”
Dr. Paul added that he sees the current correction in gold prices as a good buying opportunity and it’s only a matter of time before prices start to move higher.
“They cannot print this kind of money and think that it will never be discounted by the dollar price of gold and I think we are fast approaching that time where it will turn around,” he said.
Surprise, surprise. Ron Paul predicts a dollar collapse and tells everyone to buy gold.
ReplyDeleteThe price of gold moves with the real interest rate, not money printing. The real interest rate goes up and the price of gold goes down. Gold is going down this year. Gold will be below 800 by the 2014 election and down to 500 by 2016 election.
Gee I hope it doesn't go down that much. Maybe I should exchange my gold for $100 dollar bills.
Delete"The price of gold moves with the real interest rate, not money printing. The real interest rate goes up and the price of gold goes down. Gold is going down this year. Gold will be below 800 by the 2014 election and down to 500 by 2016 election."
DeleteYou keep hammering this point, but where is the proof? Where is your scholarly paper showing this? Otherwise, I'll call you a liar.