The Grave Consequence of ending the Gold Standard

Before the U.S. went off of the gold standard, our savings were protected and couldn’t be plundered through inflation. In other words, the gold standard protected our savings by limiting the deficit spending power of our government. Once the gold standard was removed, our savings became easy prey due to the fact that credit expansion through our banking system became virtually unlimited. In the following video, Congressman Ron Paul appears at the 4 minute mark and discusses the gold standard in the late 70’s or early 80’s. It’s an older video, but well worth the time watching it. Watch it here.

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