Ron Paul spoke with Bloomberg and said that we are in a currency war and we have been for decades. He noted that governments have always competed against each others’ currencies even under Bretton Woods. It has always been a form or protectionism and will make people want to export more.
On the next U.S. Treasury Secretary, Jack Lew, Paul says, “We don’t need an intervener. He should have a strong dollar policy by defining it, and not by propping up the market. Don’t devalue a currency. It is then that you hurt savers and cost of living goes up. This only damages the middle class and the poor no matter what welfare programs you have because they lose purchasing power.”
After all, Ron Paul says for over 6000 years of history gold is always money and paper money fails. (7:10)
