Category Archives: Outside Commentaries

Ron Paul appeared on Fox Business last week to talk about Cyprus, the devastating quantitative easing of the Federal Reserve, and gold as a standard for real money.

“What we’re witnessing now is the result of this wild quantitate easing, pumping all the money into the bonds and the stocks. At the same time we have 50,000 people in New York City that are homeless. We have 8 million people on food stamps… And the real unemployment rate is probably closer to 22%. So this pumping and quantitative easing has not solved our problem.”

Jim Rickards, author of Currency Wars, appeared on Yahoo! Finance to talk about proposed legislation in Texas that would allow state pensions to invest in physical gold and would also open a sovereign gold depository where Texans could store their gold. He went on to talk about gold’s long-term prospects in the face of an international currency war and fiat money inflation.

“Gold is actually up 20% in yen. This is where the currency wars and the gold situation come together. Gold is always on the move, but the question is which currency. Whichever currency is devaluing the fastest, that’s where gold’s going up. There’s actually a gold frenzy in Japan right now…This will come around, and eventually it will be the dollar’s turn, and then it will go up in dollars again. So gold is on the move.”

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Nigel Farage, representing the UK Independence Party as a Member of the European Parliament, appeared on Russia Today, talking about Cyprus and the “irreconcilable split” between Northern and Southern European countries when it comes to bailing out Eurozone partners. He warned all investors to avoid the Eurozone, and urged residents of struggling European economies to get their money out of the banks.

“Even in my direst predictions in this parliament over the years about the way the EU bosses were behaving, never did I think that they would, in a completely unprecedented manner, resort to stealing money from people’s bank accounts…They know that once one country [abandons the euro], the whole deck of cards will come tumbling down, and countries like Germany will realize absolutely vast losses…Don’t invest in the Eurozone…You’ve got to be mad to do so…”

Jim Rickards, author of “Currency Wars,” appeared on CNBC Asia to talk about the bubble forming in the stock market, and how the United States started the currency war.

“The Fed’s printing money. You print a trillion dollars of free money, stocks are going to go up. I don’t think there’s any magic to it. The fundamentals are not really going to support it, but the free money will. Now, it’s probably the beginning of a bubble…but at some point it will pop and collapse, and that’s what investors have to bear in mind.”