As he waved the one ounce silver coin, Paul said:
“You took over the Fed in 2006. I have a silver ounce here, and this ounce of silver back in 2006 would buy over four gallons of gasoline. Today, it will buy almost 11 gallons of gasoline. That’s preservation of value.”
I was thrilled to hear sound-money advocate Ron Paul use the same illustration we’ve been using here at Silver Circle, both on this blog and at our booth at conferences like CPAC: that the Federal Reserve’s fiat dollars are demonstrably losing their value over time because they buy less and less gasoline as the years go on and the printing presses hum, but stable commodities like gold and silver could buy the same amount of gasoline in 2000 as they did in 1950. Was it too much to hope that the most visible champion of sound money in the United States might be reading our blog? I was so excited to write this piece when I heard the news about the silver coin and the badly-needed lesson in monetary policy, but the next day all of us here at Silver Circle would learn something that absolutely floored us…
at The Silver Underground.
Editor in Chief, THL
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