22 votes

CNBC - Ron Paul: "Dollar Will Collapse, Gold Will Go To Infinity" - VIDEO

Former congressman says that precious metals will literally become priceless

http://www.cnbc.com/id/100825680

Steve Watson | Infowars.com | June 19, 2013

Appearing on CNBC yesterday, former Congressman Ron Paul warned that if the US continues on its current course, the dollar will collapse, and gold will literally be priceless.

“Eventually, if we’re not carefully, it will go to infinity, because the dollar will collapse totally,” Paul said on CNBC.com’s Futures Now.

Read more: http://www.infowars.com/ron-paul-dollar-will-collapse-gold-w...




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He has sure predicted a lot

He has sure predicted a lot of things that have come to pass.

Michael Nystrom's picture

Maybe someday, but not today

And not anytime soon, I think, judging by the chart. For now, gold has got a long way to fall.

http://www.barchart.com/chart.php?sym=GCY00&t=BAR&size=M&v=0...

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

Don't get

lulled into a sleep Michael. I believe there is market manipulation going on. When the crash comes it can happen suddenly. I think we're going to see the illusion (of wealth) continue right up until people realize it's an illusion. Then things will plunge.

Michael Nystrom's picture

Thanks, I'll try not to

.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

Do you think it will go all of the way to

$400?

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

Michael Nystrom's picture

As long as it does not violate the laws of physics

I would never say anything is impossible.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

I Hope So

Then I could afford to buy some :)

Me too

!!!

"It is difficult to free fools from the chains they revere".
--Voltaire

It's hard not to be a menace to society when half the population is happy on their knees. - unknown

Do you think JPM would be net

Do you think JPM would be net long 50k gold contracts if the price was going to go way down?

Michael Nystrom's picture

I don't 'know' that JPM is long 50k gold contracts

So the question is kind of moot.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

they are. It is in the

they are. It is in the reported data. The COT's and the bank participation report shows that they are. Here is something else to keep in mind.

http://kingworldnews.com/kingworldnews/KWN_DailyWeb/Entries/...

Also with demand world wide going crazy and gold and silver being in short supply, how can price go down?

Michael Nystrom's picture

I know, I know

Also with demand world wide going crazy and gold and silver being in short supply, how can price go down?

That's what they always say about everything, right before the crash. You do recognize that, don't you?

I'll tell you what I like about Jim Grant. Before he talks about gold, first Grant says, "I'm long gold, so take everything I say with a grain of salt." He knows that the simple act of being long distorts his judgement. But then he goes and outlines an extremely, rock solid, bull case for gold.

And in the long run, I agree. Don't get me wrong. Gold is money. Physical gold is wealth. Grant had a great interview on KWN a couple weeks back.

But in the short run, I'm just looking at the chart, that I've posted here many times, and it just doesn't look good at the moment. In fact it looks pretty terrible.

http://www.barchart.com/chart.php?sym=GCQ13&t=BAR&size=M&v=2...

I'm trying not to get mesmerized, or fall under the spell of it just because it is gold. I'm just looking at a chart, and it doesn't look good.

I could go into all the "fundamental" reasons why I think gold is going to go down, including the fact that inflation is absent and interest rates are going up, but that would all be story.

In the end, I've learned that markets just do what they do because that is what they do. They don't care what story you make up about them. I've been burned too many times believing my own bullschnitzel. Who knows, maybe I'm telling myself a load of crap this time, too. But I'm both long and short at the same time, so I think that helps neutralize my bias one way or the other.

Today was key - everyone knew that, with the Fed and all. Tomorrow will be another key day, because the XAU is sitting on shelf support that marks about a 4-1/2 year low.

http://bigcharts.marketwatch.com/quickchart/quickchart.asp?s...

Gold is also sitting on support that marks about a two year low. These support shelves are key, because below them, it's a long way down.

So, we'll wait and see another day.

All art is only done by the individual. The individual is all you ever have, and all schools only serve to classify their members as failures. E.H.

Agreed

When the Yen collapses, the dollar will gain strength and gold/silver will fall in dollar terms. That's when it's time to back the truck up.

good luck.

good luck.

+ 1

Thanks.
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From Websters dictionary, Counterfeiting:

1. Made in imitation of something else with the intent to deceive.

Alchemists could never produce real physical Gold {to be used as money}, so criminals { Along with bought and paid politicians }have succeeded in deceiving the public into using counterfeit money.

Article 1 section 10:
No state { Or territory or district} shall: enter into any Treaty, or Alliance, or Confederation, {NATO- United Nations-etc.} etc. etc. Emit bills of credit {federal reserve notes are bills of credit}
" Make anything but Gold and Silver coin a Tender in payment of Debts."

END THE FED or succumb to defeat at the hands of the masters of deception........!

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emalvini's picture

BOOM!!!! Ron Paul on "Alex Jones" Today 11:30AM CT

infowars.com

I have the utmost respect for

I have the utmost respect for Dr Paul. But he has been saying that the dollar will collapse for years, do we have any idea when it's actually going to collapse?

______
"When the people fear their government, there is tyranny; when the government fears the people, there is liberty."

robot999's picture

98% loss of value

is a Collapse in my book.
Maybe the question really ought to be: When will Americans lose confidence in FRNs?

"Government is the entertainment division of the military-industrial complex". - Frank Zappa

Ditto...

It's up to the American people...

http://youtu.be/hrnND0iTfjo (Knowledge is Freedom)
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