Is Rand Paul taking his dad's advice on how to prepare for the alleged coming economic collapse?
The Kentucky senator's father, Ron Paul, has appeared in radio, television, and Internet ads suggesting impending economic doom and offering (for a one-time payment of $49.50) a survival guide. Part of Ron Paul's investment strategy to prepare for the collapse of paper currency is to invest heavily in precious metals like gold and silver.
According to his latest financial disclosure filed Thursday with the Federal Election Commission, the younger Paul has anywhere between $10,000 and $50,000 invested in a USAA Precious Metals and Minerals and $1,001-$15,000 in assets in the fund American Century Global Gold Inv.
Since running for public office and serving in the Senate, Paul hasn't been as stringent as his father in his adherence to Austrian economics, which favors a return to the value of currency being tied to gold. He has noted before that "a gold standard would work well if you have a tight fiscal ship."
Ron Paul said earlier this month that "an accident" or "false flag" will cause the collapse of the dollar and has said after the collapse people will buy gold and silver. He had previously noted there was "pure fascism" (in an economic sense) coming.
The Wall Street Journal noted in their review of Rand Paul's financial disclosure his reported assets are valued between $576,000 and $1.7 million. Paul has zero liabilities according to the disclosure.
Andrew Kaczynski is a political reporter for BuzzFeed News and is based in New York.
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