Ron Paul, a veteran politician and Libertarian Party member, has commented on the fall of the US dollar as a reserve currency. He believes that, even if this does end up happening, it will take longer than expected to occur. The U.S. dollar's reserve currency status has been under threat as of late, with China, Russia, Brazil, and other countries looking to undermine its influence in foreign markets.

The former congressman argued that this discussion has been taking place for a long time and that it always takes longer to come to fruition than anticipated. Paul particularly focused on the abandonment of the Bretton Woods system by Richard Nixon in the 1970's, and how it was prophetic for people to believe that the U.S. dollar was going to eventually become a currency with no backing and become inflationary.

Paul highlighted the pros and cons of the U.S. dollar's reserve currency status. He explained that it provides the country with a license to inflate prices, use sanctions, and even fight unjustified wars. Furthermore, he argued that the Federal Reserve's license to manipulate the monetary policy of the U.S. has also played a role in this shift.

Finally, Paul stated that there are definite signs that something grand is taking place, with multiple countries ganging up against the U.S. He believes that if these efforts are successful, people will search for scapegoats but true accountability should be taken regarding the country's monetary policy.



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