Former US Congressman Ron Paul warns that a monetary shift made more than five decades ago is now reaching its breaking point.
In a new interview with Tucker Carlson, Paul revisits the moment in 1971 when President Richard Nixon ended the dollar’s convertibility into gold and warned that the consequences are still unfolding.
More than five decades after the event, he says that America’s day of reckoning is now on the horizon.
“And it was so clear-cut to me that bad stuff is going to happen from this. And we’re approaching that time when bad stuff is going to happen to us because you just can’t print money and lie to the people forever. It’s all based on a lie, and it’s fraud. It’s counterfeit money, and people without computers know better. People with computers are probably distracted because they think the computer is going to solve their problem. It doesn’t. It gives them reassurance, and it doesn’t work.”
Paul says the current buildup of economic stress is not random but the result of years of policy choices.
“But I think the handwriting is on the wall. This is not going to continue. And I think that’s why we’ve seen an explosion of our problems.”
He points to two indicators he believes reveal deeper structural trouble, and the signals are converging.
“And the one thing that I look at, or two things because they’re one and the same, is the debt going up and what the price of gold is. Because the price of gold, although it can be rigged and delayed, but ultimately, the price of gold is telling you there are problems out there.
So there’s something big going on, but it’s just sort of a catch-up of all the things that we’ve been doing, pretending that we can police the world.”
Data from the Treasury Department shows that the US national debt has shattered $38.645 trillion. Meanwhile, gold is valued at $5,061, up over 150% in just the last 12 months.
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