Ron Paul: Dollar Will Collapse, Gold Will “Go To Infinity”



Former Congressman Ron Paul on CNBC yesterday, warned Dollar Will Collapse, Gold Will “Go To Infinity”.

Comments

  1. S'wt Tater says:

    That is the plan, it was announced!
    Did we not believe our elected officials? …. The plan to fundamentally change America? To re-distrube the wealth of the world among all nations… , to do away with global poverty???
    Most of us agree here, You can’t fix stupid
    . Do what you can to reduce those effects while you can.

  2. Hope he’s wrong about the dollar collapsing totally but that’s one of the things we perp for. Just wish I had a lot more PM in the hoard!

  3. riverrider says:

    bernake just hinted that the faucet might get turned back this fall and stocks lost 200 points. fox said they have been buying “securities” with the 85 BILLION a month they been printing. these securities, well, aren’t. they are all paper. hegdefunds, defaulted city bonds, derivitives, all junk. over 3 trillion so far. when that bubble bursts there’s no way the dollar survives. stack it high folks.

    • worrisome says:

      I know they are buying mortgage securities, thinking that wiht the lending requirements for homes loosening and 115% loans to value happening again that we will have another round of defaults soon………

  4. private idaho says:

    wow ive been putting my extra cash in my mattress I guess if the dollar collapses ill have plenty of toilet paper. with gold that expensive cant afford to buy it.

    • Gold closed down today at 1345.50 and silver at 21.26. That’s the cheapest its been in quite a while.

    • private idaho;
      Since you feel PM in gold are outside your financial comfort zone, do what we have done. When we have a few bucks set aside we buy American Eagle rounds. Dh and Bill(our coin dealer)feel that money wise you have a better return on the eagles, as I wanted to purchase silver rounds(slugs). At the time I felt we would receive more for our money, but I was out voted, which is ok, since this is their field of expertise. I just hall all the loose change around for the coins.

      • What I fear about buying Eagles or any other silver coin with an amount printed on it is that the sheeple will look at it and say… it’s only worth a dollar cause that’s what has been printed on the coin.

        That’s why I like the rounds. Just has the weight and purity of the silver. No sheeple to argue that it’s only worth a dollar cause that’s what it says on the coin.

        • Good point! I might have to rethink my PM buying and get some more generic rounds.

          • I like the ones with wagon trains or other decorative sculptures. Like SW says no money amount listed on the rounds, just good old pure silver.

    • Buy silver

  5. Bob the builder says:

    A powerful man once said “He who controls the food, controls the people”…..food might outweigh the cost of PMs.

  6. Portman90201 says:

    I’m fairly certain there is not one ETF or market instrument, mortgage, personal account, yadayada that has not be ‘re-hypothicated’ repeatedly until one would be hard pressed to lay any clear claim to any so called Cash value it is alleged to represent. Only the folks first in line to cash out of this economy…. system.. are going to come away with anything… and then it’s going to be nothing but “Cash” of dubious ‘Value’.

    A lil cash under the mattress may be of some short term use…. Hell.. PMs are nice to have but even they will be hard to put to good use until we are on the other side of this coming mess. Be nice to have a hundred pounds or so stacked away…. I could buy North Carolina… Nah….. part of Ohio or Tenn. I think.

  7. F. B. Ross says:

    Funny – at the top of the page is Ron P. saying gold will go to infinity, and down below is an add/link saying gold will go to $750 an oz. …who do you trust ? NOBODY

  8. Diversification is always key. Gold is a safe long long term play, but cn be very volatile in the short term. I don’t think th dollar is going anywhere soon.

    Emerson
    BestGunSafeGuide.com

  9. Best way to take down a country is ruin the economy & thats what they have done. Just a matter of time until he proclaims himself Dear Leader.

  10. We didn’t buy much metal because we can’t eat it. In my mind ammo, seeds and meds would have more value.
    I always though of SHTF as something immediate. I clearl see right now it could be something like slow strangle.
    I can see people start to give up basic utilities, then food, then lose their homes.
    This would be one of my least favorite scenerios. But, the most likey. Sad, but it almost makes you wish for a pandemic instead.

    • Mama J, I think I agree that it is going to be a long slow process. A cruel one.

      There are people out there who are already in a position who have to decide to feed the kids or pay the bills. We know that a lot of people are getting food stamps, but what a lot of people dont know is a lot of those recipients arent necessarily getting a lot. I have one friend who is unable to work, and disability will barely cover the bills (and of course they are fighting the surgery that could possibly put her back to work), she gets $150 a month in food stamps for her and her 2 kids. It doesnt cover the full cost of food every month. She ended up moving back in with her parents because she just couldnt pay the bills, buy her meds, buy food, and buy household items for and her kids.

      I know she is not the only one in that position. Maybe if you own your home, and are pretty much debt free you might have a fighting chance. I dont know, I can see them keeping us so busy just trying to live that we dont notice or care what they are doing so in essence turning us into serfs. Absolute control, isnt that what they are after. It isnt going to matter if it is a slow process or a quick one, one way or another that is what they are going for. At least imho.

      • TG;
        You hit the nail on the head with this statement. “Keeping us so busy trying to live we don’t care or notice”. Isn’t that what control is all about. The magicians in DC have America so enthralled that they have you are looking at one hand, while they strangle you with the other, and you do not see it coming until it is way way to late.
        I am thankful for those of you on this site, you see what is going on around you, and doing your best to prepare and stem the tide best way you can.

  11. If the dollar collapses it will be very interesting to see what happens when people try to pay mortgage companies and landlords with worthless dollars or, just as bad, if the banks and credit unions fail and the U.S. government is unable to guarantee deposits and all those electronic dollar credits in millions of customers’ bank accounts just disappear and all the paper checks bounce. I’m glad I have food storage and other supplies so I would not have to try to buy them with worthless paper currency or suddenly non-existent electronic dollar credits. Also glad my two vehicles are paid for, but bartering for fuel would be challenging. I sure would hate to trade my wedding ring for a tank of gas.

    • axelsteve says:

      Linda . Make a still and make your own fuel. That may not be doable iether,maybe set yourself up as a fuel station. A after collapse operation.

  12. Since Ron Paul had several warning in his announcement I listened to the video three times to hear exactly what he said. At the present time our dollar-per his words is worth only 2 cents, I had it figured at 50 cents, because of the fake paper money they have been tossing into the air and letting it fall where ever it lands. Which we know it now requires more of the worthless paper to purchase goods and services. You will note I did not call it money, why it is just paper, and it is basically toilet paper. IMPO

  13. Donna in MN says:

    Paper money doesn’t lose value on an existing mortage with fixed interest, but that is the only constant where it can keep value or a fixed student loan.

    I believe a currency of gold and silver will still exist in a collapse, for it had real value for every economic collapse that happened in other countries. There will be stores that only accept this type currency or you will have to pay out 2 million dollars for a loaf of bread. Gold and silver may be the only currency to pay for gas because the oil companies may require it in a world market. It is reported middle east oil producers wanted to ditch the dollar because Bernanke’s devaluing it through printing monopoly money. Remember since our country went off the gold standard, our dollar is based on trust in paper and who trusts this government?

    Gold may be going down in value now because interest rates are going up and people are selling it off.. The value of PM’s will go back up when collapse is imminent and Bernanke quits printing worthless money to artificially support the stock market.

  14. MorePooperThanPrepper says:

    All of you people saying paper dollars are worthless drive me absolutely nuts. I am pretty sure none of you believe what you are saying.

    Do you have a job? Do they pay you in gold or silver or food? No? Then you are giving up your life and effort for worthless paper. Preppers sometimes call me clueless because I think dollars have real values (today and for the foreseeable future). You must be the truely clueless ones. The way I see it I exchange my effort and my time for something I believe has value – US dollars. Why do you? Really if dollars are worthless, why do you go to work?

    You think gold has inherent value that will not collapse? Today if someone gave me a gold kruggerand I would probably sell it for dollars and lets say, just for simplicity sake, I spent that on white rice. For 1oz krugerrand I would get about $1,400 and for that money I can then buy about 4100 pounds of rice. That should be enough calories (nutrition will have to come somewhere else) to keep a person alive for 3300 days, or 9 years.

    Lets imagine now a time “after the collapse” (by no means a given in my book) someone asks you to trade with them. They offer you a 1 ounce shiny bit of pretty yellow metal and ask you to give them tons of food – enough for 9 years… I hope you are all laughing. There is no way that gold would be worth that much in a “collapsed” economy. It has no more “inherent value” than other currencies.

    Things are worth what people will give you for them. Pre-collapse its pretty darn hard to find someone who want to trade you rice for a gold coin. US dollars – pretty damn easy. People will give you all sorts of things for dollars – just look at the vendors on both sides of this page. How many take gold as payment? How many happily trade gold or silver for “worthless paper”? Using dollars now to buy gold so that you can survive after the collapse is a loosing strategy. Dollars have more value today than gold will have after the collapse.

    MamaJ is the best economist here. Use your dollars to buy tangibles that have real value. Don’t speculate in the currency exchange.

    • In some ways I fully agree with you and in others I don’t. Where I agree with you is that trading metal for other consumable items will “balance” the worth of those metals back out. The reason gold is so expensive is because people are exchanging a devalued form of currency for a non devalued form of currency.

      Where I disagree is that metals will hold a value in a post collapse, but not immediately because as you said, you can’t eat or drive with gold. But after the dust settles a form of currency will become necessary, and metals will fill that void seemlessly, but for a balanced value.

      What makes a currency have value is scarcity and intrinsic value (people want or need it). Once the collapse gets to a point of “stabilization” (comparitively speaking) currency will become necessary and accepted again. If I have plenty of corn and you need it, but you don’t have wheat and I need that, but you have (insert form of currency here) and I know I can use that to get wheat, well my friend we have a deal. How badly you need the corn and who is selling will dictate how much of your metal you will part with to get your quantities.

      I personally don’t buy metal because I buy food that has intrinsic value. Once scarcity occurs I will barter it for gold at a very profitable price. JMO. :-)

  15. eagle rounds are nice…..remember to get old us silver coins, some things will not be expensive in a barter /black market

  16. gatorDennis says:

    You need to be cautious when buying rounds, coins & etc as they have all been counterfeited. ‘They’ say to buy from reputable sellers but who is that in this world’s low morality. Seems most are out to cheat everyone. How do others purchase their PM without worry?
    The government cheats us all the time out of money, property & liberties. Best to try to stop it before it happens. Wish someone would step up to lead us back to a Constitutionality run government, get rid of many of the federal departments & a small government.

  17. Gold will definitely keep going up in price if the economy keeps going as it is. I also think that some food products are going to skyrocket in price if the dollar drops off. I can not imagine going to the grocery store with some gold bars to buy bacon.

    • That’s why you may want to buy US coins made pre-1965 (silver). You can buy them now for something around 25 times face value. They’ll give you the “small change” you need for bacon. And a lot of bartering. imho.

  18. Pineslayer says:

    Invest in food, ammo, and bandaids. If you venture out when the reset button is hit to barter, one gallon of rice will be worth 1 oz of gold. Do the math. Those with the food, and guns, will set their own values as to what the PM’s are worth. It might get a little heated, but hunger trumps “stuff”.

    • I’m not sure you do, but if you believe in biblical prophesy the book of Revelation makes the outcome even worse: R6:6 And I heard a voice from the four living beings say “a loaf of wheat bread or three loaves of barley for a days wages, and don’t waste the olive oil and wine.”

      Now rice it doesn’t mention, but… I’d assume it was maybe on par with barley. ;-)

  19. Kathleen Czech says:

    That is not what Mr. Paul said! He said the dollar “could” collapse. This has been the truth since the dollar was invented. It is like saying you should buy my weight loss product because you “could” lose thirty pounds in thirty minutes. Well of course you “could” – if we remove one of your legs.

  20. AntiZombie says:

    Up in value compared to what? The dollar? MPTP is correct. You can’t eat gold! How much gold can you collect at $1400.00 an ounce if a tank of gas will cost you half an ounce after the SHTF. Invest in tangibles that enhance your current life like stores of food, tools, self sufficient energy options and land. Buy these at relatively cheap prices compared to gold and when others are sucking on gold bars, you’ll be eating and trading for other life enhancement goods such as ammo, more tools, and more land. Be sure to invest in security as well.

    • “Invest in tangibles that enhance your current life like stores of food, tools, self sufficient energy options and land.”

      We never said not to – in fact we have said it here many times before – get your preps in order first then invest in silver and gold. You can only store so many bags of beans, and we are all bound to forget something, break something or want something that we forgot to store. This is where having a small holding of silver and gold comes in handy, for a quick trade for what you need at that time. Just don’t go over the top with silver and gold, for silver, I suggest “American Silver Eagles” and for gold mostly “junk gold” like jewelry.

      • worrisome says:

        +10

      • MD;
        Thank you for stating we only have so much room for beans, can goods, and we have to diversify to survive. We are doing our best to met the three “B’s”, one day at a time.

      • AntiZombie says:

        MD,
        Seems like I always say something that “ruffles” your feathers when I post. I only meant that with the economy as it is (ie inflation, high prices, etc.) I can’t ever seem to put together enough money to buy enough wares to keep my family going much less buy gold and silver. I can, at a slow pace, continue to stock up on the myriad of things that I read about on this excellent blog. IMHO, I can always use another pump, tool, fireplace, garden and land all of which enhance my life in the event that TSneverHTF. I would love to have a safe full of shinny metal but I just wouldn’t feel right with so many other items that I need to stock pile before (if ever) I have the extra cash to invest.
        I have heard many on this blog that have said, “What if it never happens?” I prefer to prepare for the worst with things that I can use or trade EVEN if it never happens. I really like this site and I’m sorry if what i say offends anyone.

        • AntiZombie,

          Why do you think you bothered me?

          “I would love to have a safe full of shinny metal but I just wouldn’t feel right with so many other items that I need to stock pile before (if ever) I have the extra cash to invest.”

          Like I’ve said over-and-over again get your other life-saving preps on order first, then looking into investing in “shinny metal” but if you never get your preps in order because of a lack of cash then you’ll never need to worry about it, just keep on working toward getting all of the essential prep items and skills that you can.

          What if it never happens? Yep, it’s been said here before and I wrote the article “What if the collapse never comes?” LOL.

          BTW you can use and trade / barter / sell silver and gold no matter if / when the collapse happens. For example; I know a dentist that I can pay in silver to get a tooth pulled, or I can go to the local FFL dealer and buy a gun, or to the locally owned grocery store or hardware store to get what I need all with silver and the point is that I can do the same even after the dollar crashes. It’s much better than paper “money” in the bank and is part of the well-rounded survival plan…

          • AntiZombie says:

            Agreed. Really like the site MD. I have learned alot about self preservation on this site and look forward to reading more. Take care.

  21. AntiZombie says:

    BTW, I forgot to mention this. Get out of Debt!!!!! Use the money you might have spent on gold and double your mortage payments. Buy used vehicles and save thousands. Pay off credit cards monthly to a zero balance. If it’s yours, they’ll have a harder time taking it. It’ll be easier to come up with taxes alone rather than a payment +.

    • Hunker-Down says:

      AntiZombie,

      If we get slowly cooked like frogs in a pot to the point that we have no freedoms left, I agree with you.

      If we get hit with a CME or EMP, the financial companies will have no way to collect mortgage payments, utility payments, insurance, etc. In that scenario I would like to be 3-4 million in debt, holding all the physical goods and land that the 3-4 million of debt represented.

      My Chrystal ball mumbles incoherent babble speak on these issues and refers me to congressional statisticians for a solution.

      • AntiZombie says:

        I agree HunkerDown,
        I may be wrong but what I see leads me to believe that we will be “slowly cooked like frogs”. This society is deteriorating in a slow but steady rate that MAY end in collapse. The progressive movement that is taking hold today started under Wilson years ago. However, that may take many more decades to reach the tipping point. Indeed, when it does the government will have collected so much information on you ( obama care, IRS) that even if the private sector craters a new and uglier government version (Socialism) will take it’s place and they will need money to operate. I know, they’ll just come and take your land. Well, isn’t that what we are preapring for anyway? If not and it slowly deteriorates further, at least you won’t be in debt to the bank structure. At my age, I’m preparing for my children’s and their childrens futures so they’ll have a place to Bug out to and a home for the ages. IMHO, we are very likely to see multiple generations of families living together like the “good ole days” and that takes planning and land.

        Of course if an EMP hit’s I’ll be like you widhing I had maxed the credit cards.

        Just had a thought. You know that huge data center they have been taking about in Nevada or where ever? The one that holds a YADAbite of info. Be that sucker is EMP proof and I wouldn’t be suprised if the NYSE is backed up to it every day at the closing bell. With all the attempts at NYC by terrrorists it makes sense to me. Then I would be in a world of hurt after charging them up! LOL

    • F. B. Ross says:

      If I knew the S was going to HTF next week, I’d go out and charge all kinds of stuff-not pay the cards off.

  22. Rob in Ontario says:

    I think people should look at Germany after first world war to see how things went from bad to worse . Here we had a first rate country reduced to carrying suitcases of money to by a loaf a bread this is fact . and what of those Jews that used money -gold-jewery to get thru road blocks.

  23. celticreeler says:

    May everlasting shame be placed on the banking cabal which is, through erosion of the purchasing power of the dollars that people earn and save, effectively stealing from people. Inflation is a ‘tax’ that takes money from people, without their consent, and where I come from, that’s called stealing. Shame!

    Commodities–precious metals, fuel, edibles–retain value. Fiat paper money is valued by fiat–i.e., “It’s worth this because I said it is,” (Ben Bernanke and his cohorts.)

  24. The Poor Rooikat says:

    I’m hoping for some gold action. My 8700.00 investment is now worth 3470.00. I would have had better results if I simply stuck it under my mattress.

  25. Winomega says:

    I’m believing that the economy will re-stabilize soon enough that all gold will do is allow you to sell it for some of the new currency. Have the wealth tied up in things with non-symbolic value and hope you have enough to get you through.

  26. You know how to boil a frog? If the water is boiling and you toss the frog in the frog just jumps out, but if you put the frog in the water and turn on the heat by the time the frog realizes the water is hot it’s too late.

  27. Texanadian says:

    In a collapse for PM’s to have any value there needs to be a surplus of goods and a stable form of trade. Depending on what causes the collapse and how quickly it occurs PM’s will be mostly worthless. The need for food, shelter and security will be paramount in people’s minds. You could offer me a pound of gold for a pound of rice but if I have no way to replace the rice the gold will be worthless to me. If I have a surplus and a way to restock my larder maybe we can talk trade.

    Eventually when things settle down and people have time for something other than just existing they willl want luxury items and PM’s will be worth something again.

    Food will get you through times of no gold better than gold will get you through times of no food.

  28. MentalMatt says:

    What up!!
    I personally don’t think the total collapse is going to happen, I think another depression area type scenario. Now please don’t get me wrong I thing Beans Bullets and Band Aids, should always come first. Listen I am trying God willing to finish my career and get my pension, I also have put into a 401K, plus some other things, but if it totally goes down, I have metals to back me up, I wont buy food with silver and gold, but I may pay for more expensive things or supplement my finances. Diversify It wont kill you. Food first!!!!

  29. I like Ron , but I think he is starting to get senile .