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DG365FD46564GFH654FU898 The topic of a U.S. return to the gold standard was once again at the forefront of an interview with Ron Paul this week. In a discussion with Fox News, the Texas congressman and 2012 Presidential candidate presented his latest views on the benefits of a gold standard, the damaging role of paper money in the financial system, and his efforts to audit the Federal Reserve. When first asked “What would happen in a Ron Paul presidency if we were to return to a gold standard. How soon could this happen and how would it happen,” Dr. Paul responded as follows: I wish we could do this overnight and we could do a few things like repealing the executive order of Nixon but that in and of itself wouldn’t be enough. We know what to do. We did it once after the Civil War. We went from a paper standard back to a gold standard, and the event was not that dramatic. Today the big problem is both the conservatives and the liberals have a big appetite for big government for different reasons. Therefore they need the Fed to tide them over and monetize the debt. So if you do not get rid of that appetite, it’s going to be more difficult. But the transition is not that difficult. You have to get your house in order, you have to balance the budget, you have to not run up
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