Ron Paul warns the US can't 'print money and lie' to Americans forever. Protect yourself and your nest egg now

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It's been more than five decades since President Richard Nixon took the U.S. dollar off the gold standard. Yet former U.S. Congressman Ron Paul says he remembers that moment vividly — and is now issuing a fresh warning.

"I can remember it precisely," Paul said in a recent interview with Tucker Carlson, referring to August 15, 1971 (1). "One Sunday night I was sitting in front of the television watching the news come in and oh, a special news clip. And they put up President Nixon and all of a sudden, boy, did my eyes open."

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In that televised address, Nixon announced he had directed then-Treasury Secretary John Connally to suspend the dollar's convertibility into gold — a move that effectively ended the Bretton Woods system.

"And I said, 'This is a big deal ... It might be one of the biggest things that ever happened in monetary history,'" Paul recalled.