The following is a three part video series of Ron Paul on the economy, gold, and the US dollar from a 2006 hard assets conference. It is a timeless discussion if you have not seen it yet. The videos below were added on April 8th 2007.

Part 1 - Ron Paul - Korelin Economics Report

Part 2 - Ron Paul - Korelin Economics Report

• Ron Paul is pessimistic about the economy.
• We have been living on borrowed money and borrowed time.
• People are deceiving themselves over the idea of a soft landing.
• There is so much malinvestment and monetary inflation that it will translate into price inflation and a weak economy.
• Conditions are much worse than the 70's.
• Stagflation is back and the extreme of that will be an inflationary depression.
• Whether or not we reach that stage is yet to be determined but we are in for some very serious times.
• In these conditions paper assets will be the worst assets to hold and hard assets the best investments.
• In politics we have lost respect for the rule of law and we don't follow the constitution and that has gotten us into trouble.

Synopsis Part 2

• When it comes to the Fed he is hoping to make inroads on transparency.
• Bernanke talks about transparency but the first thing he did was take away M3 reporting hiding what the money supply is doing.
• No concern in Congressional committees about the lack of transparency.
• But the private sector has reconstructed M3 and that is good.
• Our currency is based on an illusion and a false sense of trust that will eventually be lost.
• The basis for the dollar was totally destroyed in 1971.
• Believe it or not there are still members on the banking committee that believe the US dollar is backed by gold.
• The market will eventually take over and asset itself.
• Right now the US is still running its economy, welfare, and warfare on borrowed money created out of thin air.
• The debt eventually gets so high it is not repayable. We are at that point now.
• Bernanke thinks the great depression happened because we did not print enough money when the cause was the Fed printing too much.
• The dollar has been under attack ever since Bretton Woods.

Synopsis Part 3

• At some point there is going to be a major economic event, we just can't say when.
• He will be surprised if it is not in the next five years.
• We are certainly closer today to that event than we were 30 years ago.
• Economically the US is a house of cards with no foundation.
• The idea that the Fed can keep the stock market together an illusion. The market is more powerful than bankers and the Nikkei has proven that over the last 17 years.
• The internet is valuable because that is where the information people need to know is circulating.
• Americans today will not give up their guns, their gold coins, and the internet. If freedoms are not lost that will get us through.

Thanks to Ron Paul for taking the time to express his views on these important issue.