To 321gold home page

Home   Links   Editorials

The Korelin Economics Report
The Most Misunderstood Gold Bug of All Time

Al Korelin
Jun 30, 2007

A number of years ago, I met Congressman Ron Paul of Texas in his Washington D.C. office. The Congressman had appeared on our radio program a number of times prior to that so I was familiar with his philosophy about the direction in which the United States was headed. After we talked, he introduced me to Judge Andrew Napolitano who is currently the Senior Judicial News Analyst for Fox News Channel. My family and I then listened to a presentation given by Judge Napolitano to a group of us in which he discussed his reasons for believing that the United States was moving dangerously away the Constitutional basis on which it was founded.

Congressman Paul agrees with Judge Napolitano and has based his campaign for the Republican nomination of the President of the United States on his notion that the federal government is disregarding the Constitution and that this practice must be stopped.

Unfortunately, the vast majority of Americans do not understand Congressman Paul's views. It is my contention that this is because he is unfairly being labeled as a radical extremist.

Two glaring examples are the pictures being painted of him regarding his views on gold and his views on patriotism.

Regarding the belief by most Americans that Congressman Paul believes that the United States should immediately return to a gold-based currency, nothing could be farther from the truth. On The Korelin Economics Report, Congressman Paul stated that returning to a gold standard overnight would be impossible for the United States. What he is on record as saying is that he believes that the fiat currencies in existence today will ultimately fail as they always have in the past. He feels that only those economies with an asset-based currency can prosper for an extended period of time with the wealth being distributed equitably among the citizens.

Regarding his patriotism, witness the initial debate among Republican candidate hopefuls. During that debate, former New York mayor Rudy Giulani responded to the Congressman's statement that many people believed that the motive behind the terrorist attack on the World Trade Center was actually prior U.S. actions in the Middle East. Mayor Giulani indignantly played the "patriot card" and demanded that Congressman Paul retract his statement. As a point of fact, the Congressman's statement was based on two paragraphs in the CIA Report the subject of which was the 9/11 attack. The millions of people who watched this particular debate were never made aware of where the congressman obtained his information supporting this statement.

If you want to hear exactly what Congressman Ron Paul believes, with no editing whatsoever, go to and watch the complete interview with Congressman Ron Paul. You will hear his philosophy with absolutely nothing left out.

Al Korelin

321gold Ltd