26 Aug 2011

Al Sharpton (and Others) Discuss the “Prophet” Ron Paul

Economics, Federal Reserve, Financial Economics, Gold, Ron Paul 12 Comments

I can’t believe this is happening. People on MSNBC are talking about Friedrich Hayek, Ludwig von Mises, the gold standard, and Ron Paul as a prophet. If they bring up David Gordon, I’m going to pass out.

12 Responses to “Al Sharpton (and Others) Discuss the “Prophet” Ron Paul”

  1. Robert Fellner says:

    Just to clarify, Ron Paul is not advocating for a return to the gold standard. I base this off what he says on television when he speaks about money. I base this off what he says on his official campaign website at ronpaul2012.com when discussing sound money, the words “gold” and/or “standard” do not appear once. I base this off the books he has written. The most recent book where he writes, “I would like to see the banking system operating as it would under free enterprise, meaning no central bank. I would like to see competitive currencies emerge on the market and be permitted to thrive. I’ve been pushing for these solutions for decades.” Ron Paul, Liberty Defined (2011) p. 201

    The only reason Ron Paul is still so linked to this idea that he is in favor of restoring a gold standard is because people keep assuming it, and he uses the precious air time to point out the benefits of gold over fiat currency and does not flesh out his full position of desiring the removal of legal tender laws and allowing a free market in money. He does flesh out this opinion in longer interviews, in the books he writes, and on his campaign website at ronpaul2012.com. I have never seen him call for a return to the gold standard like we once had, I have seem him specifically criticize our former gold standard and his criticism was not in its application, but in the concept of a government-enforced monopoly on money.

    • jjoxman says:

      Sounds like he is a free banker. Politically that’s probably a much scarier concept than a gold standard.

    • bobmurphy says:

      Robert, you’re right, I should probably be more nuanced in how I handle Ron Paul and the gold standard. However, it’s well-known that he went into politics because Nixon closed the gold window. So it’s not like this is a thing some people invented out of thin air.

      • Robert Fellner says:


        Ya I totally get that. And believe me the last thing I’m concerned with is with your treatment of RP.

        If I could find a way to convey this concept to the general public and mainstream media who dismiss Ron Paul because in their view a return to the gold standard would collapse the economy (rightly or wrongly), while in reality Ron Paul is not even advocating that, I certainly would.

    • Tel says:

      I think it is fair to say that in a free banking environment there would be a reasonably large number of people who would freely choose commodity based money, including gold and silver standards.

  2. Major_Freedom says:

    “Ludwig von Meeeez”

    • Bob Roddis says:

      Picky picky picky.

  3. Bob Roddis says:

    Clearing the market? Tough love, but it’s what we have to do?

    A bunch of weirdos.

  4. david says:


    Plus attractive blondes intelligently discussing finance in plummy upper-class accents with surprisingly appealing lisps makes for a nice diversion.

  5. Dan says:

    Ron Paul supporters have to go somewhere? Yeah I’ll go to work and then head home if Ron Paul doesn’t win the primary.

    I loved how they talked about Ron Paul’s ideas being radical and then they finish up the segment advocating bull dozing existing homes to jump start the economy.

  6. Jim O'Connor says:


    I almost choked on that statement, too. The only reason I care a whit about the national elections is Ron.

    You’re also right that they then went into the broken window fallacy in a huge way. Goodness, they seem to be looking for novelty more than wisdom.

  7. Frank says:

    The guy at the end while mentioning drastic measures to turn around the housing markets refers to tough love with demo of houses and stepping up foreclosures. I am sure that sits well with main street who has been robbed of all their wealth already while at the same time being stuck with the bill for the stimulus. Yeah, thats a real fresh outside the box line of thinking. How about some tough love for washington….. delivered via Ron Paul?