Ron Paul on Gold: No One Knows Value; I'm Buying April 23 (Bloomberg) -- Ron Paul, Former Congressman from Texas, discusses his views on gold, central banks, and the weakened Republican Party.He speaks on Bloomberg Television's "Market Makers."(Source: Bloomberg) Most Recent VideosRon Paul, who has run for president several times, is predicting the Federal Reserve's actions will have serious consequences for the stock market, just as the latest growth figures suggest the economy may have hit a soft patch.According to government figures released on Friday, the nation's gross domestic product fell to 0.7 percent in the first quarter — the lowest rate in three years — as personal spending slid to its worst level since 2009.That data came on the heels of a jobs report that showed the economy created far fewer jobs in March than the prior month, even as the unemployment rate fell.Paul told CNBC a correction is "inevitable," even as investors cheer the Nasdaq composite's new record highs.

"We spend too much, we borrow too much, and we distort the markets," Paul said on "Trading Nation" this week."The bigger the distortions have lasted, the bigger the bust will be."The Federal Reserve holds its meeting on interest rates the first week in May.Wall Street doesn't predict a rate hike this time, but the consensus still calls for two more rate hikes this year.In coming months, the Fed also plans to unwind its balance sheet, which holds $4.5 trillion in bonds.But Paul, a Republican known for his libertarian policies, predicted it will be too little, too late.He warned the Fed is going to push the economy over the edge and should have let the market determine the rate of interest."It has been especially bad in the last 10 to 15 years.I mean they have driven these interest rates so terribly low, and everybody was recognizing it even when Greenspan was there," said Paul.He said the Fed is likely to unwind during a market downturn."There's enough evidence around it even though there's some euphoria on Wall Street.

I still think there are serious problems in the economy," he added.Paul said the main problems are "uncontrollable spending" and financial issues affecting the middle class.ethereum db"When monetary policy destroys the currency, it always destroys the middle class," he said.bitcoin casino usa no deposit bonusNot even the Nasdaq's historic milestone is altering Paul's read on the markets.how to setup a bitcoin wallet macThe index broke 6,000 this week for the first time ever.bitcoin assignment"All you have to do is go back to the year 2000, and the Nasdaq was at 5,000.bitcoin singapore death

And now it's all the way up to 6,000, after what, 17 years?"asked Paul, who's been invested in gold.ethereum coin history"Gold back then was less than $300, and it's $1,200.cours sur le bitcoinSo I would say gold has done very, very well in that period of time," Paul said.free bitcoin onion"And besides the 20 percent increase in the Nasdaq, if you discount for the inflation ... that's not the greatest investment in the world.bitcoin cloud calculator" Want to be a part of the Trading Nation?By Shaun Bradley The Anti-Media Phoenix, AZ — The latest massive price increases in cryptocurrencies like Bitcoin and Ethereum have boosted the credibility of investors who criticize the fiat currency system.

Unfortunately, precious metals haven’t followed in crypto’s footsteps yet, and heavy losses over the last few years have led many people to write off the asset class altogether.Owning things like gold and silver in the United States has either been outlawed or stigmatized since the Great Depression, but recently, real progress has been made towards once again recognizing them as legal tender.In anticipation of the growing problems with the national debt, individual states across the country are seizing the opportunity to protect themselves and their citizens from financial repression.Twenty states have already eliminated sales taxes on precious metals transactions, but some are taking it even further.The most recent bill was H.B.2014 in Arizona, which classifies U.S.-minted coins as a form of currency and even eliminates capital gains taxes on qualified precious metals.These kinds of simple actions directly threaten the power of the U.S.Federal Reserve, and any competition to the U.S.

dollar undermines the central bank’s longstanding monopoly.Current Prices on popular forms of Gold Bullion Representatives in Arizona worked on this legislation for years, and thanks to the support of people like Ron Paul, there was enough pressure on the governor to sign it into law.Dr. Paul explained why this bill is so crucial for the future: “HB 2014 is a very important and timely piece of legislation.The Federal Reserve’s failure to reignite the economy with record-low interest rates since the last crash is a sign that we may soon see the dollar’s collapse.It is therefore imperative that the law protect people’s right to use alternatives to what may soon be virtually worthless Federal Reserve Notes.” “We ought not to tax money, and that’s a good idea.It makes no sense to tax money,” Paul told state senators in March.“Paper is not money, it’s a substitute for money and it’s fraud.” Utah was the first to implement this new policy of empowering state governments against reckless federal incompetence when they passed H.B.

This bill not only recognized coins as a form of money and eliminated taxes on them, but it also encouraged the state to study how it might establish an entirely new system of legal tender if needed.Each state that stands up and refuses to be condemned to bankruptcy by the bloated bureaucrats in D.C.puts additional pressure on this failing paper Ponzi scheme.Only when enough people recognize the destructive road we’re heading down and demand a change will the federal government and banking institutions be forced to adapt.These growing pressures aren’t just manifesting domestically but can be seen developing around the world.The growing uncertainty surrounding America’s future role in the international arena has inspired nations like China and Russia to establish their own currency exchanges that bypass the U.S.Their leadership in the BRICS nations has put them in an influential position in the developing world.Along with India, they are among the world’s largest gold buyers and have created reserves that could serve as a basis for a new reserve currency.

This development of a new trading bloc in the East is being referred to by some as “The New Silk Road.” Daily Reckoning analyst Byron King discussed how turbulent the current circumstances really are: “Up to now, there has never been anything approaching a serious challenge to the global supremacy of the dollar — certainly not in global trade.Yet here we are, watching Russia and China set up a proto-trading system based on gold.The daily quote for gold seems not to price in even a hint of this development.Yet it could have world-altering implications as it all unfolds.” The current economic realities affecting our quality of life will continue to force local representatives to take action while Congress faces gridlock.Without establishing alternative options for communities across the country, our entire standard of living may fall fully into the hands of the establishment politicians in Washington DC — more so than it already has.There is a subtle ongoing realization that no matter what the pundits and politicians claim, there is no easy way out of this mess.