[quote=Nor-LA-SD-GUY2]Flat currency I always heard Ron Paul was for a flat currency, (forgive me if I am wrong about that),
It’s just I don’t want to repay China with Gold (or anyone else for that matter),
We are a little like Greece you know.
we will be needing to inflate our way out of this mess fairly soon. (mostly it’s the fixed income with no debt crowd that likes this flat currency Idea).
Really we don’t need anything from China or the middle east for that matter so I don’t worry about them not taking our money.[/quote]
This is an excellent question and would undermine the entire Ron Paul plan – if his plan were to move to a gold based currency. His plan is to allow for competeing currencies. He wants people to be able to decide how to get paid. Right now gold and silver are taxable if you buy or sell them which makes them impractial for use as currency.
The Chinese own our Treasury Bonds which are redeemable in American dollars….not gold. If gold were allowed as a currency you and I could transact in whatever medium we wished and the Chinese would get paid in currency.
