The Federal Election Commission today released the latest financial disclosure report for Ron Paul, nothing much has changed from previous filings.
The report shows that Congressman Paul is worth roughly between $2.1 million to nearly $5.2 million. How did he gain most of his wealth? By buying gold stocks when they were cheap. Aside from cash and some real estate, most of his holdings are in gold or silver mining stocks.
He has stakes in companies such as Barrick Gold Corp., Newmont Mining Corp., Pan American Silver Corp. and many more.
I thought he would be much richer than a measly seven digit millions. How about Rand?
ReplyDeleteHow about Jesse?
Deletetouché
DeleteHe's about to get a lot richer...
ReplyDeleteno, he will just preserve his wealth, as opposed to anyone who doesn't own PM's. Gold isn't going up, the dollar is going down and it costs more and more of those worth-less dollars to buy that particular item
DeletePeople who own PM's will simply keep the money they have. I dont think you will ever be able to buy a new car with an ounce of gold.
Mark, if inflation hits, all prices will not go up in dollar terms at the same rate.
DeleteRead 'The Economics of Inflation' from the '30s, in which an Italian economics professor had a front row seat to the German inflation and hyperinlation of the early '20s.
His book has lots of charts and data. Real estate got killed -- rent control was put in place -- and purportedly you could buy a block of apartments in Berlin for a pittance.
In the U.S., gold moved from low $40s to over $800 per ounce, '74 to '80. I guarantee home, food, and stock prices did not go up by 20X.
I feel very comfortable that holders of gold will see increased purchasing power in the upcoming dollar devaluation/inflation.
When will he be starting his fund?
ReplyDeleteGold stocks are still cheap. New mount is where it was 6 years ago. Pssh talk about depresing perfromence in the mining shares.
ReplyDeleteWhat they don't list is the mexican gold coins he bought for $35 ounce.
ReplyDeleteNever seen a poor politician in my life...
ReplyDeleteI can't find any evidence that he did not earn his wealth honestly. Can you?
DeleteSo you have proof he's not poor?
DeleteHe was a successful doctor in the US Air Force working extra hours in emergency rooms and in private practice later BEFORE becoming a politician, and he runs a frugal congressional office returning surplus funds.
Paul has received over $3 million in stolen taxpayer funds during his years in Congress.
ReplyDeleteNo politician earns his wealth honestly.
Just about any American who uses public roads or services (e.g., passport, public schools) does not earn his wealth honestly.
DeleteThose who feed into the lobbying end up with eight or nine digit portfolios. Those who don't get into pay to play amass much less over their careers in public service.
ReplyDeleteYes, because RP makes sure that his entire net worth is known to USG... ;-) What was it Lord Clyde said? "No man in the country is under the smallest obligation, moral or other, so to arrange his legal relations to his business or property as to enable the Inland Revenue to put the largest possible shovel in his stores. The Inland Revenue is not slow, and quite rightly, to take every advantage which is open to it under the Taxing Statutes for the purposes of depleting the taxpayer's pocket. And the taxpayer is in like manner entitled to be astute to prevent, so far as he honestly can, the depletion of his means by the Inland Revenue."
ReplyDelete