Financial Crisis, Financial Windfall Give Ron Paul Credibility Boost
When Ron Paul announced his presidential bid back in March, most political experts and media pundits gave him little chance, predicting that he would make little impact on the race, struggle to raise funds, and most likely drop out before the primaries. Some of his more dismissive critics openly mocked his long advocacy of sound money backed by gold, suggesting that monetary policy would never be an important issue in the election.
What a difference eight months can make.
When over 36,000 Ron Paul supporters nationwide got together on their own and donated $4.3 million to his campaign in a single day, those same experts finally had to concede that Ron Paul was having an impact on the race, would challenge for the Republican fundraising lead in the fourth quarter, and would have enough cash to last well beyond the early primaries. A few critics still unable or unwilling to grasp the real significance of November 5th continued to try to demean Ron Paul's monetary theories, but their jabs delivered no sting at all, because something entirely unexpected was happening.
Financial experts were actually debating the merits of a gold standard on cable news programs, and mentioning Ron Paul's name in a positive light.
Federal Reserve chairman Ben Bernanke was appearing before the Joint Economic Committee of Congress, and getting grilled by Ron Paul on inflation, as traders in the pits chanted his name -- Ron Paul's name, not Ben Bernanke's.
What happened? The price of gold increased 27% in the past eight months. The dollar has fallen markedly against most other world currencies. The bursting of the housing bubble led to a massive Federal Reserve bailout of banks and hedge funds that should have known better than to take on billions in questionable mortgage debt. Americans are becoming painfully aware that their dollars are buying less and less, regardless of what the government's Consumer Price Index might say.
Suddenly Ron Paul is making sense to a lot of everyday people, not just those who have always considered the Federal Reserve an unnecessary and unconstitutional drain on the wealth of the American people. Suddenly, millions of voters are a lot more interested in a presidential candidate who is talking about sound money, and sound monetary policies.
Ron Paul is the only candidate in either party talking about monetary policy, but he's also the only candidate in either party talking about balancing the budget. And starting to pay down the debt. And cutting federal spending. Ron Paul is also the only candidate in either party who has identified any significant areas to even begin cutting spending -- starting with the hundreds of billions of dollars wasted every year on an interventionist foreign policy.
In speeches and interviews, Ron Paul has presented a much more moderate and reasonable tone than some commentators would have you believe. He has talked about allowing free market competition in gold and silver backed currencies, not abolishing the Federal Reserve overnight.
In campaign commercials, Ron Paul has promised to veto any unbalanced budget that reaches his desk, just as he has voted against unbalanced budgets throughout his career. Facing new competitive pressures and an end to the practice of issuing hundreds of billions in new federal debt each year, the Fed would be strongly guided toward the sound money policies Ron Paul has long advocated.
Ron Paul's credibility as a serious challenger for the Republican presidential nomination has increased dramatically in just the past week, and dollars have had a lot do with that -- the 4.3 million dollars donated by tens of thousands of American voters on November 5th, and the drastically declining dollars suffering under the Federal Reserve's loose monetary policy.
Americans hungry for political and economic change have finally found their presidential candidate, and his name is Ron Paul.
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What a difference eight months can make.
When over 36,000 Ron Paul supporters nationwide got together on their own and donated $4.3 million to his campaign in a single day, those same experts finally had to concede that Ron Paul was having an impact on the race, would challenge for the Republican fundraising lead in the fourth quarter, and would have enough cash to last well beyond the early primaries. A few critics still unable or unwilling to grasp the real significance of November 5th continued to try to demean Ron Paul's monetary theories, but their jabs delivered no sting at all, because something entirely unexpected was happening.
Financial experts were actually debating the merits of a gold standard on cable news programs, and mentioning Ron Paul's name in a positive light.
Federal Reserve chairman Ben Bernanke was appearing before the Joint Economic Committee of Congress, and getting grilled by Ron Paul on inflation, as traders in the pits chanted his name -- Ron Paul's name, not Ben Bernanke's.
What happened? The price of gold increased 27% in the past eight months. The dollar has fallen markedly against most other world currencies. The bursting of the housing bubble led to a massive Federal Reserve bailout of banks and hedge funds that should have known better than to take on billions in questionable mortgage debt. Americans are becoming painfully aware that their dollars are buying less and less, regardless of what the government's Consumer Price Index might say.
Suddenly Ron Paul is making sense to a lot of everyday people, not just those who have always considered the Federal Reserve an unnecessary and unconstitutional drain on the wealth of the American people. Suddenly, millions of voters are a lot more interested in a presidential candidate who is talking about sound money, and sound monetary policies.
Ron Paul is the only candidate in either party talking about monetary policy, but he's also the only candidate in either party talking about balancing the budget. And starting to pay down the debt. And cutting federal spending. Ron Paul is also the only candidate in either party who has identified any significant areas to even begin cutting spending -- starting with the hundreds of billions of dollars wasted every year on an interventionist foreign policy.
In speeches and interviews, Ron Paul has presented a much more moderate and reasonable tone than some commentators would have you believe. He has talked about allowing free market competition in gold and silver backed currencies, not abolishing the Federal Reserve overnight.
In campaign commercials, Ron Paul has promised to veto any unbalanced budget that reaches his desk, just as he has voted against unbalanced budgets throughout his career. Facing new competitive pressures and an end to the practice of issuing hundreds of billions in new federal debt each year, the Fed would be strongly guided toward the sound money policies Ron Paul has long advocated.
Ron Paul's credibility as a serious challenger for the Republican presidential nomination has increased dramatically in just the past week, and dollars have had a lot do with that -- the 4.3 million dollars donated by tens of thousands of American voters on November 5th, and the drastically declining dollars suffering under the Federal Reserve's loose monetary policy.
Americans hungry for political and economic change have finally found their presidential candidate, and his name is Ron Paul.
