US political boss: the United States is on the verge of bankruptcy, gold and silver are the most reliable

Ron Paul, the US political boss and a former Republican member of the House of Representatives, said he believes the US is on the verge of bankruptcy and that astronomical monetary expansion and fiscal spending are pushing up gold prices. He pointed out that the US national debt has increased by more than $2 trillion in just six months, while the Federal Reserve has printed more money and continues to increase investment volumes. He advised investors to hold gold and silver, emphasizing that throughout history, precious metals have remained de facto and reliable currencies.

"I think there's been a recent bull market in gold," Mr. Paul said in an interview with GoldSeek. "When gold first rose from $1,800, there was a correction in 2011, it fell to $1,000, and it took a while to get back to $1,800."

"We don't know what will happen to gold in the short term, but we do know that if the U.S. government continues to do what they are doing, debt is increasing, money is being printed more, and eventually there will be a major collapse. Every day we see spending and deficits rising, and we can assume we are getting closer to that date."

"The U.S. national debt has increased by more than $2 trillion in just six months," he noted.

"Silver is probably the best way for most people to prepare for an economic collapse."

Summing up, Paul advises investors to hold gold and silver, saying: "Throughout history, precious metals have remained de facto and reliable currencies."