Peter Schiff: The Case for Ron PaulSubmitted by telepathic on Fri, 08/26/2011 - 08:00
Picking up where they left off in 2008, the media is in the midst of a campaign to ignore and undermine the presidential candidacy of Ron Paul (they gave me even rougher treatment during my 2010 Senate run). Political pundits just do not know what to do with a candidate who fails to fit into the blue and red boxes that form the simple narrative of American politics. They are perturbed by the grass roots nature of the campaign, by the strange honesty and earnestness of the candidate and his supporters, and the odd mixture of conservative values and liberty-minded policies. And like most adolescents, they reject what they don't understand.
Like most investment professionals, Ron Paul's opponents likely failed to comprehend the damage the overly expansive monetary and fiscal policy would do to our economy and, as a result, adopted mainstream investment strategies. While Barron's could try to characterize such approaches as being more patriotic, it certainly cannot describe them as being more successful. Isn't it about time we elected a president with some substance rather than someone who pantomimes in the preferred manner? Who do we want working in the Oval Office anyway: one of the few who understood how government policy would undermine our economy, and arranged his finances to profit from it, or one of many who had no clue?
The fact that Ron Paul chose to invest as he has is a testament to his intellect and his pragmatism. The fact that he voted the way he did, and tried relentlessly to persuade his colleagues to do likewise, in direct opposition to his personal investment strategy, is a testament to his patriotism. He knew that his appeals would fall on deaf ears and that Washington would destroy the dollar in its quest to "save" the economy. So while he tried to stop the train from running off a cliff, he took the sensible step of buying a parachute. Sounds like a guy I would like to see in the White House.