Texas Rep. Ron Paul (R) told reporters Saturday that the bulk of the economic crisis is yet to come, and that a White House ’12 bid largely hinges on his anticipated fall of the U.S. dollar.
Prior to appearing before the Virginia Tea Party Patriots Convention in Richmond, Paul called a complete implosion of the U.S. currency system “95% likely… [because] right now the whole world is racing to beat their currencies because they think it’s going to help trade…But let me tell you, if the bombs started to fall on Iran, hold your hat, because that would be, I believe, the end of our dollar system. And we would have a real skirmish to find out what we’re going to replace this government with.”
Paul’s “End of Dollar Hegemony” is nothing we haven’t heard before from the Congressman, but at this point it’s largely indicative of his decision to run for president in ’12. He is slated to speak at the University of Iowa later this month, an appearance many pundits have pegged as his first WH stump in the critical caucus state. He denied that rumor today, saying, “I don’t any precise plans for 2012. I don’t have an organization [in Iowa], and there are some who are very well organized. It’s a long way off, and events can change quickly, and I believe sincerely we’re moving toward a much more major economic crisis. Depending on where we are on that might help me make that decision.”
The After-the-Fed Solutions Debate Begins: Greenbackers Vs. Goldbugs