In a recent interview with Kitco News, former U.S. Congressman Ron Paul raised alarm bells about the future of the U.S. economy, emphasizing that the country could be on the verge of a financial collapse. Paul’s warning focused on the Federal Reserve, which he considers an unconstitutional and illegal institution, and its role in undermining the dollar’s value.
The Fed’s Power and Its Consequences
Paul’s criticism of the Federal Reserve is not new. He has long argued for its abolition, pointing out the dangers of a central bank with unchecked power to print money. According to Paul, the Fed is the biggest taxer in the U.S., and its manipulation of the dollar through fiat currency has led to runaway deficits and unsustainable economic practices. He warns that this system is causing “cracks in the empire,” and likens the U.S. economy’s trajectory to the collapse of other empires in history, like Venezuela and Zimbabwe.
Paul predicts that as the flaws in the current monetary system become more apparent, gold prices will skyrocket, potentially quadrupling. For those looking to protect their wealth, Paul remains a staunch advocate for investing in gold, calling it a safe hedge against inflation and economic uncertainty. The growing instability, he says, could lead to a rapid shift away from the dollar, further supporting gold’s rise in value.
