Ron Paul may not be at CPAC event, but his gold standard ideas are there

Ron Paul will not be in attendance at the Conservative Political Action Conference, but some of ideas will be main topics. One of these ideas is "The Need for a Twenty-first Century Gold Standard." His ideas are becoming more popular as the US continues to face monetary problems.

Caroline Ward
February 9, 2012 at 11:12 pm
Chron

Ron Paul isn’t in attendance at the 2012 Conservative Political Action Conference in Washington, but some of his ideas are center stage.

One of the first panels of the largest gathering of conservative activists was pure Paul: “The Need for a Twenty-first Century Gold Standard.”

The panel’s moderator, Jeffrey Bell, policy director of the American Principles Project, invoked the name of the great Paul when he introduced Jim Grant, the editor of Grant’s Interest Rate Observer.

“I can call him Mr. Chairmen because last fall Congressmen Ron Paul recommended Mr. Grant as his choice, should he be elected as chairmen of the Federal Reserve” Bell said.

The purpose of the session was to share expertise and answer questions, not to endorse a candidate, though many of their ideas paralleled Ron Paul’s.

“We should embrace once more the ideas of the founders, that we should not forget Alexander Hamilton, that we ought to obey the precepts of sound money and common sense, alike and restore something like predictability and objectivity in our monetary fantasy,” said Grant.

His opening statements and mention of Article I, Sections 8 and 10 of the U.S. Constitution coincided with Paul’s “back-to-the-basics” philosophy.

“America is the greatest nation in human history,” declares Paul’s presidential campaign web site. “Our respect for individual liberty, free markets, and limited constitutional government produced the strongest, most prosperous country in the world. But, we have drifted far from our founding principles, and America is in crisis. Ron Paul’s ‘Restore America’ plan slams on the brakes and puts America on a return to constitutional government. It is bold but achievable. Through the bully pulpit of the presidency, the power of the Veto, and, most importantly, the united voice of freedom-loving Americans, we can implement fundamental reforms.”

Grant continued by voicing his beliefs on the role money should play in our society today.

“Money was a thing, it ought to be a thing, and not a concept. I think the first order of business … is to seize this obvious and compelling fact that it is the gold standard that is the vanguard of the information age, and the present regime of command and control, which is the earmark of antiquity,” said Grant.

Sounds a lot like Ron Paul.

The Kudlow Report host Larry Kudlow talked to Ron Paul at the end of January about his monetary policy philosophy, including the gold standard. Kudlow asked Ron Paul what a “Ron Paul dollar” would be like. His response:

“The dollar would be convertible into gold at a fixed rate, which would prevent the monetization of debt, which limits the size and scope of government. It has to be linked… That’s what the founders wanted. That’s what’s in the constitution. This whole idea that the Federal Reserve can create money out of thin air… it just distorts the entire market. It’s price-fixing at it’s worst.

“The distortion on international markets as well as the excessive spending here at home would all be solved with the gold standard.”

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