Ron Paul, the little guy's champion, turns out to be a millionaire

Rep. Ron Paul is a presidential candidate who supports a return to the gold standard, among many other things. Although he's got no sympathy for Burma's cyclone victims.

Now, we know that Paul puts his personal money where his personal mouth, and public policy, are -- in precious metals.

Paul complied with federal law by filing his personal public financial disclosure statement with the Federal Election Commission by the deadline the other day. The Times' conscientious Dan Morain pored over it.

Turns out, the old doctor (he's even older than Sen. John McCain) is a millionaire, a few times over.

An Air Force veteran and ob-gyn who often champions the cause of the little guy, Paul disclosed 41 separate financial holdings that have a combined value of between $2.29 million and $5.3 million. The disclosure statements require officeholders and candidates to disclose a range of values for their holdings.

The 72-year-old Texas Republican, who leans libertarian, wants to abolish the Federal Reserve and issues warnings about....

the U.S. economy, will certainly lose the GOP nomination "struggle" to McCain, who has somewhere around 72 times as many convention delegates as Paul's 20.

But don't cry for Paul in St. Paul. He's got personal investments that are bearish and conservative. He has money in gold mining companies such as Barrick Gold, Vista Gold, Kinross Gold, and Apollo Gold Corps. And he's still got somewhere around $5 million of the $34.5 million his followers donated to his campaign in the last year or so.

Among Paul's mutual fund holdings is one Prudent Bear Mutual Fund, which has warned about risks created by “the historic expansion of credit.”

Paul, whose 10 terms have frightened off any Democratic opposition in November's House election, continues to be president of his medical corporation, Ronald E. Paul, MD, Assn., of Lake Jackson, Texas.

In addition, he's honorary chairman of the Foundation for Rational Economics and Education Inc., a website devoted to Paul and which advertises his writings. One is “Gold, Peace, and Prosperity,” described on the foundation’s website as “the best introduction on the history of money and how government has destroyed it.”

Another Paul writing is “Ten Myths about Paper Money.” “This concise essay argues against fiat paper money and answers common objections to a gold standard. Tells why the politicians and bureaucrats like paper money and how the State thrives on it. Buy several copies and give one to your congressman!”

Though a presidential political loser, Paul also has recently published his latest book, "The Revolution: A Manifesto," both a call to arms and a long-term source of income for Paul's struggle to take control of the Republican Party.

The enemy are the fake conservatives and moderates who got the nation into the Iraq war, who support big government and big spending and may well be planning a secret political union with Canada and Mexico using an unbuilt highway across Texas. Don't ask; it's just gospel.

Thanks to Paul's loyal thousands of followers, his new little book zoomed to the top of the Amazon.com bestseller list even before publication.

Now, his new book is also bouncing around among the top 10 on the bestseller list of the New York Times, which is not a libertarian publication.

--Andrew Malcolm

Photo Credit: AP

Comments

[Brian McManus]

Ron Paul has earned his money from smart investments and selling books. He is a self-made millionaire and is a true American Patriot. The socialists running for president are all bought and paid for and should be exposed as such. Andrew, while it's nice to know that Ron Paul is even more of a success than I thought he was, I think it's more pertinent to be exposing this nutjob Obama who wants to regulate just about everything you consume, even your calorie intake. I'm not kidding!

[Wm Tate]

At last! "A politician who puts his money where his mouth is." If only all politicians had to conform to the policies they espouse, the country would be in a lot better shape.

-Wm Tate
http://www.atimelikethis.us/

[David]

Way to spin the facts! Ron Paul's book talks nothing of a secret political union with Canada and Mexico, nor a highway. Open your eyes.

[Tom deSabla]

Hey, what's this about Paul having money? That should totally disqualify him from being the candidate for the little guy.

I'm a little guy, and he can't represent me if he's got money. I don't have money; I don't want it; and I don't want to listen to people who have it - like Paul.

Only poor people can represent other people, and only blacks like Obama can understand what other blacks need, and only Hillary really understands women.

Who should represent you Andy?

I guess you'll have to wait until an old, stupid, washed-up statist runs for office, but wait...we have one of those now!

So you're a McCain man!

**

And, again, you seem to have trouble distinguishing the difference between "caring" with taxpayer money, and "caring" with your own money.

Hey, if the only money I worried about spending was other people's money, I could care about all kinds of stuff, Andy. I could afford to care about you and provide you with all kinds of luxuries - like a heart and a brain.

I just don't want to bear the expense of turning you into a human being to come out of my own pocket - surely you understand? That would take more gold than even Ron Paul has. Maybe I can get the taxpayer to pay for it.

[pete]

so what's your point? paul can't be for the little guy because he's a millionaire?

[Chester Lunt]

Your entry dealing with his opposition to the Myanmar resolution is completely unfair. Did you even read the resolution he voted against?
http://www.govtrack.us/congress/billtext.xpd?bill=hr110-1181

It does not solely express sympathies, as you stated in your other entry (and imply in this entry;) it also includes a section which states the following:

"(6) demands that the referendum to entrench military rule be called off, allowing all resources to be focused on disaster relief to ease the pain and suffering of the Burmese people."

His spokesperson has stated that this is why he opposed the resolution - it is an example of foreign interventionism, something I am sure you know he fundamentally opposes. Just as someone who opposes abortion would vote against a bill that demanded Myanmar legalize it, even if that bill expressed sympathies, Ron Paul has done the same for something he vehemently opposes.

I simply do not understand what your goal here is. If it is to provide legitimate journalism, I just do not see why you would attempt to debunk a false reason for his opposition (that it was a meaningless gesture) when he never stated this was his reason. Or why you would misrepresent the nature of the bill. Or why you would ignore the stated reason. Are you just trying to mess with Ron Paul supporters, by intentionally getting it wrong and pressing their buttons? Because if you are, congratulations. But if you are trying to be an honest journalist, with honest journalism, then this simply does not fit the bill.

[Ray]

Of course Ron Paul has sympathy for victims. Evidently, unlike most people, Dr. Paul understands the proper, limited role of the federal government. Its proper role does not include passing resolutions expressing sympathy.

Ignorance of a thing does not make that thing 'gospel'. You encourage your readers not to ask about the SPP, Trans-Texas Corridor, North American Union and such. Such ignorance makes your attempts at ridiculing Ron Paul and his supporters seem reasonable.

It is not extraordinary for an elderly medical doctor to have several million dollars in assets. At least Ron Paul did some honest work to gain his assets. He could have engaged in sweetheart deals in real estate, or maybe cattle futures, as other presidential candidates have done.

[steven orrange]

"Although he's got no sympathy for Burma's cyclone victims"
The point is Ron Paul opposes taking (i.e. stealing through government force) money from YOU and giving it to someone else. Regardless of the warm and fuzzy feelings you may be hoping to get. Dr Paul encourages all Americans to give to others in need on a voluntary basis. Government is Force not Love. Charity is not the proper role of government.

[Albert]

Mr. Malcolm,

You have the gall to make an accusation that Ron Paul does not care about people in distress and cite your own article as proof?

I'd be surprised if Ron Paul had not built up wealth. Anyone who has studied economic history knows that a government always debases its currency when it's based on nothing. Gold maintains its value when the dollar's value shrinks due to massive inflation. I would definitely want someone who understands that as President.

I've never heard anybody else call Paul the "little guy's champion". You seem to define the "little guy" as someone who does not have wealth. If Paul is the "little guy's champion" then the "little guy" is the rare educated voter who believes in liberty and the constitution.

[Tom]

"he's got no sympathy for Burma's cyclone victims."

- You're an idiot, Andrew.

[Curt]

Are you suggesting he's telling his followers to invest in gold because he wants the value of gold (and hence his holdings) to go up? Wow, if you can paint Ron Paul to be that selfish, I can't wait to see your assessments of McCain, Obama, Clinton, or yourself! Tell me again, who returns the un-used portion of his congressional budget to the government every year?

I also love how you try to paint Ron Paul as someone who actually doesn't care about the little guy. Who introduced a bill in Congress to make tips tax-free? But maybe you're right, when he delivers babies, maybe some patients leave a couple dollars under the operating table, and he's pissed off he gets taxed on those.

[Dooglio]

...and it's bad to be a millionaire because...?

I'm not sure what your piece is trying to say. On the one hand you mention all the good things he stands for. But your title is pretty bad.

I think the "little guy" can learn a great deal from Paul on how to manage their own money and create wealth. Plus Paul is fighting for the "little guy's" right to keep all of their wealth by trying to rid this country of the Federal Reserve, return to honest money, and eliminate the income tax.

Typical garbage coming from the MSM denouncing wealth and blaming the rich for every ill this society has.

(Who said it's bad? You guys are so starved for attention you're ready to see boogeymen behind everything. Lighten up. You turn off potential supporters with your paranoia.)

[Jeffrey]

The dirt comes to light!
Brilliant expose'!
How long did he think he could get away with this secret? I bet he wanted us all to think he was just worth thousands! Elitist!
And he didn't sign the company sympathy card to Burma? Doesn't he know how this decision will drastically impact lives of those suffering there? Shame.
And I don't know who the "fake conservatives" might be- certainly not McCain, Bush and all the other republicans fighting to keep government the lean, efficient engine of freedom and not the liberal spend-monster that thinks we can afford to solve the world's problems.
"Don't ask" is right! Too many people believing they can think for themselves instead of having unbiased professionals such as yourself unravelling the Truth for us- using the good old Free Press! (Amateurs! Do they think they have your journalistic expertise and resources?)
Stop asking- stop questioning our great government and political system. And quit falling for these secret millionaires who earned their keep through shady practices such as delivering babies and safe investment.
Thank you for unmasking thie harsh truths to those who may have strayed from the established system.

[Jack D.]

Once again Malcolm, you just don't get it. In regards to Canada, the U.S and Mexico, it is not a conspiracy, it is fact. Do a video search for "Marci Kaptur North American Union Cintra" and "doublespeak 101". And as for your comment on Burma, it is my understanding that Paul just wants to return America to the greatest volunteer nation in the world again. It used to be (and rightfully so) that churches and other organizations like the Red Cross that did most all of the helping out with VOLUNTEERS and FINANCIAL AID. It has always been my experience that when politicians get involved with anything that involves money there is USUALLY something corrupt going on. Like with Rosa Parks, he offered his own money for the gold medal but everyone in Congress made the rest of us pay for it. There are some people that get these medals that don't actually deserve them and thanks to the attitude of people like you Malcolm, we all have to pay for stuff that might not necessarily deserve our support. It's called choice Malcolm. Maybe you don't like the idea of funding abortions... but with the government the way you want it, you will have to pay up. Your prejudices of Ron Paul are hindering your ability to do research and accurately report. Even a guy like me who is just a welder can see through your ineptness. Might want to think about another line of work :-)

[RaferJanders]

Yes, but did he have any holding in Sudan he did not know about? Come on Andi you can do a better hit job than this, You won't even let me post on your power bait blog, Its early and I am bored so I read this and just laugh, "I mean come on Andi, He is even older than John McShame" You are such a bitter man, Your just mad because Ron Paul earned his millions and John McShame married his. How does it feel to be Angry all the time Andi.

[RaferJanders]

Yes, but did he have any holding in Sudan he did not know about? Come on Andi you can do a better hit job than this, You won't even let me post on your power bait blog, Its early and I am bored so I read this and just laugh, "I mean come on Andi, He is even older than John McShame" You are such a bitter man, Your just mad because Ron Paul earned his millions and John McShame married his. How does it feel to be Angry all the time Andi.

[RaferJanders]

Yes, but did he have any holding in Sudan he did not know about? Come on Andi you can do a better hit job than this, You won't even let me post on your power bait blog, Its early and I am bored so I read this and just laugh, "I mean come on Andi, He is even older than John McShame" You are such a bitter man, Your just mad because Ron Paul earned his millions and John McShame married his. How does it feel to be Angry all the time Andi.

[RaferJanders]

Yes, but did he have any holding in Sudan he did not know about? Come on Andi you can do a better hit job than this, You won't even let me post on your power bait blog, Its early and I am bored so I read this and just laugh, "I mean come on Andi, He is even older than John McShame" You are such a bitter man, Your just mad because Ron Paul earned his millions and John McShame married his. How does it feel to be Angry all the time Andi.

[GC]

Ron Paul is the little guy's champion? Since when? Champion of the Constitution maybe, but the other three candidates pander more to the 'little guy' than Paul.

It's been known for a long time that Paul is a millionaire. Not surprisingly, Paul invested a lot of money in gold. And what do you know? As the dollar has weakened gold has stayed strong.

I know you like the number of hits your Ron Paul articles get, but this in combination with the Myanmar article is pretty terrible.

[GC]

Ron Paul is the little guy's champion? Since when? Champion of the Constitution maybe, but the other three candidates pander more to the 'little guy' than Paul.

It's been known for a long time that Paul is a millionaire. Not surprisingly, Paul invested a lot of money in gold. And what do you know? As the dollar has weakened gold has stayed strong.

I know you like the number of hits your Ron Paul articles get, but this in combination with the Myanmar article is pretty terrible.

[Tom Woods]

So Ron Paul is wealthy, and that negates what he's saying. Is this a joke? Seen the Obama or Clinton returns? Heard any rumors about McCain's? This IS a joke, right?

And yes, I know you can't support gold -- since no one at Newsweek or the Washington Post ever mentions it, how can it possibly be important? Just a crank view, probably. No need to investigate it.

As of right now, his book is #1 on the New York Times bestseller list. You might consider actually reading it, so you can see how a non-automaton (as opposed to the rest of the candidates) writes and thinks.

[Tom Woods]

So Ron Paul is wealthy, and that negates what he's saying. Is this a joke? Seen the Obama or Clinton returns? Heard any rumors about McCain's? This IS a joke, right?

And yes, I know you can't support gold -- since no one at Newsweek or the Washington Post ever mentions it, how can it possibly be important? Just a crank view, probably. No need to investigate it.

As of right now, his book is #1 on the New York Times bestseller list. You might consider actually reading it, so you can see how a non-automaton (as opposed to the rest of the candidates) writes and thinks.

[Dave]

"Thanks to Paul's loyal thousands of followers"

How about, thanks to millions (that voted for him) of Americans who still believe in the constitution that made this country great!

All of you "reporters" still try to consider Paul supporters as a "Vocal minority" or "enthusiastic group" when they're normal Americans like you and me... well... obviously not like you. You're a sell out.

[Greego]

This is starting to get sad, Malcolm. Is it envy? Do you wish you were as respected as Dr. Paul is? Or maybe you haven't managed your finances as well as he has and are feeling the pinch of the recession?

[Freedom Pundit]

I would certainly expect a man with such a rich understanding of economics to be well prepared for his future.

Thank you, Dr. Paul, for the education and for curing my apathy. Never before have I learned anything positive from a presidential campaign.