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Ron Paul Does NOT Want to Go Back to the Gold Standard

nolanchart.com — One of the most common items of misinformation about Ron Paul's positions is that he wants to go "back on the gold standard" or "return to the gold standard." And, this is often used as criticism against him by misinformed and careless reporters and bloggers.

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  • stealthc, on 11/18/2007, -0/+1A gold standard would rock. It would keep the government from over-spending and it would force them to be up front with how much of our resources they are already spending. But it has to be phased in gradually. The only thing you can do cold-turkey is reinstate freedom in the market, which is what Paul would do.
    The article says he would make gold and silver legal tender again, but as a recent court case regarding a law firm who paid its people in gold, only reporting to the IRS the face value of the coins (an $800 gold coin being reported as $50) these coins are already legal tender. There's a long-ignored law that makes it so. What the law firm was doing was completely legal. The only thing left now is to eliminate bullion taxes. At that point gold and silver will be very easy to reintroduce into the market. And people will definitely be interested, with the Federal Reserve Notes offering such crappy staying power.
  • teichenauer, on 11/18/2007, -0/+1This article had a pretty strong assertion until the Ron Paul presidential campaign posted an article (dated 11-17-2007) on the campaign's home page that quotes an article sourced from CBS News that states "Specifically, he wants to pull troops out of Iraq, repeal the income tax, abolish the Federal Reserve and put America back on the gold standard." Although one point sustaining the original article is that a google search on ronpaul2008.com and "gold standard" only return two hits, the second one focusing on a 1966 quote of former Federal Reserve Chairman Alan Greenspan.
  • gottadiggit, on 11/16/2007, -0/+1If only the couch potato economists that think Ron Paul is crazy for wanting to get ride of the Federal Reserve would put down their Doritos and read this.

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