CLN – Ron Paul – US Government Will Be Similar To Detroit, Gold Price Will Explode – 24 July 2013

RT reporter: Gold just had its best day in a year.  Some people are saying that the bottom is in here.  What do you think is driving gold now? … Why the sharp rebound?

Ron Paul: I don’t like to pretend that I know what precipitates these short swings up and down…  I look at it more as a fundamental monetary system.  I see gold as money.  When gold goes down, that means that the dollar is going up temporarily.  But long term, I think that the only thing that is really important is the creation of new money and credit. And, nobody is arguing the case that we are not doing that.  The only argument is: are we going to create $85 billion dollars of money a month?  Or, is it going to be $75 [billion per month].  The markets won’t even tolerate thinking about $75 [billion per month].

So, long term fundamentals says that they’re printing the money – they’re doing it like crazy.  I’ve watched this since 1971. And, believe me, printing is going to continue and the value of the dollar is going to go down.  Gold will go up.

Q&A continues…

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