UPDATE 5.16.22: In an interview with Dan Ball on OANN, former congressman and presidential candidate, Dr. Ron Paul discusses Joe Biden’s continued strategy of blaming Putin for inflation, and says the economy may be worse than the 1930s or 1970s.
(Paul begins speaking at about 4:26 in the video below.)
Originally posted on March 4, 2022.
In my 1987 book The Financial Armadillo Strategy, I focused on my long-term fear of (1) inflation, (2) printing money to balance the books, and (3) the highly leveraged position of the US Banking system. Now in 2022, those fears are all being realized by the Biden administration’s inept management of the U.S. economy.
I offered a multi-layered platform for investing during the expected financial blow-off I feared was emerging. Featured planks in my portfolio platform were U.S. government securities, gold, and silver (thanks Ron Paul, Dan Rosenthal, Jim Blanchard, the Messrs. Harry Browne & Schultz, and Dr. Franz Pick) Vanguard’s low-cost, no-load funds, Benham Capital Management Company, and the Swiss banking system.
Now, I am writing more about gold and silver and the Swiss Way than ever. Recently, I loaded up on large positions in gold and Swiss francs – the most I have ever purchased over a similar period.
In 2009, Ron Paul wrote in End the Fed:
“Ending the Fed need not be in one bold stroke. We could transition towards the goal. There are many small steps we could take toward sound money. The power of the Fed to increase the money supply could be curtailed. The Fed could be restricted in its open market operations. We could, by legislation, deny authority to the Fed to monetize any debt. We could prohibit the Fed from participating in central economic planning.”
Dr. Paul warned, “The future looks bleak. The power elites are hunkering down, and there is no sign in Washington that anyone cares, listens, or understands the issue of money and the power of the Fed. There’s a rumbling in the heartland and anger is building.”
Ron Paul concluded back in 2009: “Freedom and central banking are incompatible.”
To help conservative investors organize themselves around the principles outlined in The Financial Armadillo Strategy, in 1987 I founded the investment counseling firm Richard C. Young & Co.
Twenty-seven years ago, our son Matt took on the day-to-day management responsibilities. Our daughter Becky joined the company back in the mid-nineties. Becky is today our Chief Financial Officer. Our son-in-law E.J. Smith (Your Survival Guy) is managing director and head of client contact.
Every client of our family investment counsel firm has daily access to family members. And every client has access to me every business day of the year. I respond to all client inquiries through either Matt or E.J.
In 2021 CNBC ranked our team in the top 5 of all U.S. financial advisory firms.
A previous edition of this piece was originally posted on August 3, 2020.
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