[Congressional Record Volume 157, Number 41 (Thursday, March 17, 2011)]
[Extensions of Remarks]
[Page E519]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




          INTRODUCING THE THRIFT SAVINGS FUND IMPROVEMENT ACT

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                             HON. RON PAUL

                                of texas

                    in the house of representatives

                        Thursday, March 17, 2011

  Mr. PAUL. Mr. 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.
  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 over 23 percent and 
silver by over 94 percent, while the Dow Jones and S&P 500 each only 
rose by around 8.5 percent.
  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.
  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.

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