Ron Paul is known for being the most fiscally conservative member of the House of Representatives in the timespan of a century of politicians. His anarcho-capitalistic views have gained him a sea of supporters who worship the ground he walks on. I have many disagreements with Ron Paul, and one of mine is the disagreement over the Gold Standard.
In simple terms, the gold standard is where all of our money is backed by gold. Sounds like a good idea right? Well kinda, there are advantages and disadvantages of any system, and the gold standard is no different. It does well to protect from inflation, but it's also limited by how much gold is in reserve, and is a system known for rewarding savers and punishing those in debt. So it's a system that can easily make the rich richer, and puts the poor further down into poverty. A lot of countries in the world ditched the Gold Standard since the 20th century.
But why would Ron Paul want it to come back so much? For a system so old, and flawed, why would anyone put so much faith and will power in it's full-fledged return to power? Well Ron Paul has his reasons, but I'm guessing the main one would be his millions of dollars in stocks of gold mines and other investments in precious metals. If we return the gold standard, he will defiantly make more money than he did as a private doctor.
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