Not linked on Ron Paul’s Congressional Website.
HON. RON PAUL
OF TEXAS
IN THE HOUSE OF REPRESENTATIVES
Tuesday, March 10, 2009
2009 Ron Paul 25:1
Mr. PAUL. Madam Speaker, I rise to introduce
the Thrift Savings Fund Improvement
Act. This legislation expands the investment
options available to congressional and other
federal employees by creating a precious metals
investment fund in the Thrift Savings Plan
(TSP). Adding a precious metals fund to the
TSP will enhance the plan’s ability to offer
congressional employees a wide range of investment
options that can provide financial security
even during difficult economic conditions.
2009 Ron Paul 25:2
The Thrift Savings Plan is one of the most
important benefits offered to congressional
employees. A strong TSP can obviously play
a key role in attracting and retaining talented
individuals to serve in the legislative branch.
Adding a precious metals option will strengthen
the TSP. In the last year, the price of gold
rose by 5.5 percent while the Dow Jones experienced
one of its worst years ever, falling
by 33.8 percent, while the NASDQ declined by
40.5 percent!
2009 Ron Paul 25:3
Recent gains aside, precious metals have a
number of features that make them a sound
part of a prudent investment strategy. In particular,
inflation does not erode the value of
precious metals is not eroded over time. Thus,
precious metals can serve as a valuable “inflation
hedge.” Precious metals also maintain,
or even increase, their value during times of
stock market instability, such as what the
country is currently experiencing. Thus, investments
in precious metals can help ensure that
an investment portfolio maintains its value during
times of economic instability.
2009 Ron Paul 25:4
Federal employees could greatly benefit
from the protection against inflation and economic
downturns provided by prudent investments
in precious metals. I, therefore, once
again urge my colleagues to cosponsor the
Thrift Savings Fund Improvement Act.
