What does former U.S. congressman Dr. Ron Paul think about Janet Yellen as the Fed Chair? Kitco News caught up with Paul at the Metals & Minerals Conference in San Francisco, where he is a keynote speaker, to discuss monetary policy, gold and the US dollar. “It’s easy to be a critic if you don’t believe they should exist,” Paul says in response to his criticisms of the Fed. Having Yellen as the next chair, Paul says not much will change. “If anything, it’ll be slightly worse because she is a very aggressive inflator…I think she’ll be dangerous to the dollar and she will not revive the economy.” Paul thinks the Fed is temporarily holding markets in check by making Wall Street people richer and helping out the bankers but it has done nothing for the economy. “The market is so fragile,” he says. “[The Fed] should have never started [QE].” With regards to gold, Paul says gold will soon be up again. “[The Fed] cannot print this kind of money and think that it will never be discounted by the dollar price of gold,” he says. “I think we’re fast approaching the time where [gold] will turnaround.” Watch now to hear where Paul would invest and avoid putting his money in the coming year.
Via Kitco News, November 26, 2013.