It is a well known fact that the former Texas Congressman Ron Paul is a huge proponent of gold playing a monetary role in the (US) economy. His statements to this effect and his questioning of the Federal Reserve during Congressional testimonies is legendary amongst gold bugs and "hard money" advocates. Since retiring from the United States Congress, Ron Paul has continued expressing his views on gold and the current (fiat) monetary system. In an interview with Brian Sullivan of CNBC for Yahoo Finance, he discusses the safe haven aspect of gold.
"I don't see gold so much in short-term because I see it in over a 100-year period," says Paul to Talking Numbers. "Long-term, it will always go up so long as we have a Fed printing money. But, on the short-term, the traders have a lot to say about this. A correction like we just had last year – one year out of 13 – that's not a big correction. That doesn't destroy a so-called bull market."