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Ron Paul: "Accident" Or "A False Flag" Will Cause Economic Collapse

"I see the day coming when finally this breaks out, the hostility toward America is going to be unbelievable because it's been held in check."

Last updated on July 27, 2015, at 10:27 a.m. ET

Posted on July 27, 2015, at 10:27 a.m. ET


Ron Paul says "an accident" or "false flag" will cause the collapse of the dollar.

The former Texas congressman, who is currently appearing in ads on the radio, Internet, and television predicting a coming economic collapse (which you can avoid with a one-time payment of $49.50 for an investment guide), was speaking on the Scott Horton Show to promote his new book Swords Into Plowshares: A Life in Wartime and a Future of Peace and Prosperity where he made the comment.

"I see the day coming when finally this breaks out, the hostility toward America is going to be unbelievable because it's been held in check," Paul said. "People haven't been quite strong enough to express themselves because if they do they get sanctions put on them or we bomb them."

Paul, who earlier said he thought our foreign policy and our "stupidity" was pushing Russia and China to move away from the dollar as the world's reserve currency, added that he thought an event could be coming that could change the world's economic system instantly.

"Once we get a little bit weaker there's going to be piling on," said Paul. "Right now there's strong talk about the Saudis going with Russia. Now that is a big deal. We have been the protector of Saudi Arabia, you know, since World War II when Roosevelt made that commitment. I think there's a lot of things going on that potentially could change things overnight -- not that I think it's gonna be tomorrow or the next day."

Paul said a "false flag" event (which is when a group or country carries out an operation in such a manner that it looks like another group or country is responsible) or "accident" might cause what he said would be the "breakdown." Paul said putting sanctions on Russia following the 2014 invasion of Crimea and U.S. troops being close to Russia as an event leading up breakdown.

"We are getting close to this and yes, we put on sanctions, and we put our troops around Russia and all these things," Paul said. "But there's gonna be an accident, there will be a false flag or there will be some unintended consequence and this is gonna breakdown. So it's one of these things that you ought be prepared but not sit on the edge of your chair and say, 'well, uh, tomorrows the day it's going to happen.' You can't do that."

Paul said the United States' debt was the biggest concern.

"Just think of how many Greeks right now wished that they had taken their money out of the bank a little bit early. They had years to be suspicious of what was happening but, 'no government will take care of us we live in a welfare state. They have always taken care of us before they'll take care of us.' But all of a sudden the banks are closed so debt is the big problem and debt is what will bring us down. Not only do we have that $18 trillion national debt but we owe foreigners over six trillion dollars. We're the biggest debtor in the world. Our debt is greater than our GDP so economically speaking we're in bad shape."