Stop. If Ron Paul gets in the White House, the Fed is done. At that point, the dollar WILL stand on it's merits.
If the other currency had some sort of backing like silver or gold then U.S. dollar would collapse instantly so its the same thing basically. No one in their right mind would choose to keep their money in U.S. dollars if the other currency was based on a limited supply.
Guys, the President does not have the power to shut down the Fed and Paul has explicitly stated this.
Well, yes and no. This is a very complicated discussion. Our currency is primarily backed by our military. The dollar would not collapse. It would most definitely be weaker. To what degree, we can only speculate. What would happen though is our monetary and fiscal polices would become more transparent through our dollar vs what it is now, which is completely non transparent.
The only thing keeping our dollar alive right now is it's reserve status. Take that away, and we are the Weirmar Republic (or Zimbabwe). If given the choice between monopoly money and money backed by silver or gold, I'm going to go way out on a limb and say that most people would take the one backed by a commodity. This would end the Fed by default.
So, besides the gold standard, and ending the Fed, what other "Ron Paul" ideas/values would he be unwilling or unable to enact?
Your argument is moot because all currencies are fiat and we are not going to back our currency with Gold. Not even Paul wants to do that. I'm not interested in debating hypotheticals.
No, but he can absolutely put a nail in the head of the Fed by getting rid of Bernanke and appointing someone who is of his philosophy. He can also demand transparency. Those two actions would effectively neuter the Fed. And none of this is hypothetical.