Ron Paul Links Bullion Coin Shortage To Horrendous Currency Debasement

Gold and Silver Blog

Rep. Ron Paul, during a Subcommittee hearing on problems at the US Mint, linked the shortage of gold and silver coins to the "huge debasement" of the United States currency.

The remarks came during a hearing by the House Financial Services Subcommittee on Domestic Monetary Policy, entitled "Bullion Coin Programs of the United States Mint: Can They Be Improved?" Four different coin and previous metals industry experts provided testimony on how to address ongoing problems with coin production and shortages.

After some lengthy discussion by witnesses and committee members regarding shortages of silver coin blanks and marketing and production problems at the US Mint, Rep. Paul focused on what he considered to be the primary reason why the US Mint was, at times, unable to meet public demand for gold and silver coins.

Listed below are highlights of Rep. Paul's remarks at the Subcommittee hearing.

1. It is "imperative" that the US Mint should be able to produce an adequate supply of coins to the U.S. public. According to Rep. Paul, investors are rushing to purchase gold and silver due to quantitative easing by the Federal Reserve.

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April 11, 2011

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