Wednesday, February 15, 2012

Ron Paul: 'The End Stages of a Currency Can Come Rather Quickly'

GoldSeek radio has published an excellent interview with Ron Paul discussing The Fed, the coming collapse of the US dollar, and GOLD!  Paul believes that although the US dollar has been gradually devaluing against gold and silver over the past 99 years, 'the end stages of a currency can come rather quickly.'
Paul also confirms what SD readers already know, that The Bernank is prepared and stands ready to bail out the European banks and the Euro nations themselves.

I think they always seem to be able to patch things together longer than we ever believed. But, the one thing is, is you can’t promise that because the end stages of a currency can come rather quickly. You can slip and slide, as we have been. If you look at the value of the dollar from 1913, it’s dropped dramatically. But, even since ’71, it’s dropped about 85%, but it’s been steady and gradual; but when the panic comes, when people lose confidence, then everything breaks down and that’s so serious.

Right now, there’s a lot of people, it’s in their interest to keep the dollar going and the dollar, as long as they can keep trust in the dollar, they can keep bailing out the world. I mean, Bernanke’s prepared to bail out the banks of Europe and the Euro and the debt that’s involved with all the nations over there. But, the market is more powerful, but I still think that they’re gonna be able to fool the market and convey a bit of confidence because if they don’t, it’s such a disaster. This – I believe we face something different than the world has ever faced before because it’s so global and it’s so dollar oriented and all the currencies are fiat. There’s no restraint whatsoever and all they’re dealing with is finding out who should be stuck with the debt and they’re just shifting the debt. And that’s what this whole crisis was about in ’08 and ’09 and – within the United States, is who would hold the debt, and it looks like the taxpayer’s holding the debt; and the people who were making money when the bubbles were being formed, they’re the ones who got the bailouts, which is tragic, but the American people are waking up to what’s been going on.
Click here for GoldSeek Radio's interview with Ron Paul