When people become frightened, they look for things of real value. They will go to monetary metals, gold and silver, and they will buy other things, such as buying property. But no matter what we have, whether we have our gold coins or we have our property, if we have an authoritarian government, that is our greatest threat. So, I would like to think that there is no perfect protection, other than shrinking the size and scope and power of government, so that we can be left alone and take care of ourselves.
Ron PaulThe Fed has one power that is unique to it alone: it enables the creation of money out of thin air. Sometimes it makes vast new amounts. Sometimes it makes lesser amounts. The money takes a variety of forms and enters the system in various ways. And the Fed does this through techniques such as open-market operations, changing reserve ratios, and manipulating interest rates, operations that all result in money creation.
Ron PaulYou don't quit because you happen to be behind. You want to see how you do. And who knows? Maybe somebody will stumble.
Ron PaulWe in the Congress have a moral and constitutional obligation to protect the value of the dollar and to understand why it is so important to the economy that a central bank not be given the unbelievable power of inflating a currency at will and pretending that it knows how to fine-tune an economy through this counterfeit system of money.
Ron Paul