Tags: Ron | Paul | Gold | Price

Ron Paul: Gold Price Could Go to Infinity

Tuesday, 18 Jun 2013 10:05 PM

By Greg Richter

Share:
  Comment  |
   Contact Us  |
  Print  
|  A   A  
  Copy Shortlink
How high can the price of gold go? Former Congressman and presidential candidate Ron Paul thinks it could go to infinity.

Appearing on CNBC's "Futures Now," Paul explained that "excessive spending and excessive computerized money" is driving down the dollar, and in turn raising the price of gold.

Story continues below video.



"Eventually, if we're not careful, it will go to infinity, because the dollar will collapse totally," Paul said.

Editor's Note: Get David Skarica's Gold Stock Adviser — Click Here Now!

So how could gold actually be worth infinity?

Paul explained that if the dollar collapses, and he fears it might, no amount of dollars could purchase any amount of gold, making gold essentially worth infinity — at least in terms of dollars.

Considering his long-term outlook, Paul said he isn't concerned about the recent drop in gold prices.

"Markets do these types of things — they go up sharply, and sometimes they take a rest," Paul said. "I was never very good on short term, whether it's the stock market, or whatever."

Since the creation of the Federal Reserve, "we have about a 2-cent dollar," Paul said. "And gold used to be $20 an ounce. So I'd say the record is rather clear on the side of commodity money."

Six thousand years of history shows that gold always retains value, Paul said, "and paper always self-destructs."

Editor's Note: Get David Skarica's Gold Stock Adviser — Click Here Now!

© 2014 Newsmax. All rights reserved.

Share:
  Comment  |
   Contact Us  |
  Print  
  Copy Shortlink
Around the Web
Join the Newsmax Community
Please review Community Guidelines before posting a comment.
>> Register to share your comments with the community.
>> Login if you are already a member.
blog comments powered by Disqus
 
Email:
Country
Zip Code:
Privacy: We never share your email.
 
Hot Topics
Follow Newsmax
Like us
on Facebook
Follow us
on Twitter
Add us
on Google Plus
Around the Web
Top Stories
You May Also Like

House Panel to Meet With Safety Regulators on Takata Air Bags

Friday, 24 Oct 2014 12:44 PM

The U.S. House committee looking into the defective air bags made by Japanese supplier Takata Corp will hold an initial  . . .

Disputed Oklahoma Ten Commandments Statue Smashed

Friday, 24 Oct 2014 12:02 PM

Authorities say someone drove across the Oklahoma Capitol lawn and knocked over a Ten Commandments monument that a group . . .

'Honey Boo Boo' Axed After Reports Mother Dating Sex Offender

Friday, 24 Oct 2014 11:59 AM

US reality TV channel TLC said Friday it's pulling the plug on Here Comes Honey Boo Boo amid reports that one of its a . . .

Most Commented

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

 
NEWSMAX.COM
America's News Page
©  Newsmax Media, Inc.
All Rights Reserved