The Gold Standard destroyed a few other countries for example Britain...it'll cause deflation and this is basically the only reason why I won't vote for Ron Paul. This is in macroeconomics 101 textbooks I don't get why he wouldn't know about this.
@xiAMGeno So everything in a book is right? So they were right 600 years ago when they wrote in the books that the world was flat? That men could never fly? I'm sorry but marcoeconomics 101 books can have mistakes in them. They're not a bible you see, they are a book. It's not a religion you know.....
Besides, it didn't destroy britain at all. Where are your facts to back this up anyways?
I recommend the whole video but your question is answered at 4:00. The issue of the gold standard is something I'm still trying to grasp. I want to know why people think it is necessary when it seems that Fiat currencies could work because money is completely psychological.
I agree with Ron Paul on nearly everything else so I bet I would agree with him if I understood this issue so any resources would be appreciated.
@drakepetersen Well i think basicly the reason they want to go back to the gold standard is because of the Intrest Payments.
You see, in a gold standard there is only a said amount of money ( this includes the intrest to be paid ). Therefor this system can basicly last forever.
In a FIAT system, the money in supply does NOT include the intrest that needs to be paid back. Therefor you need to BORROW money ( which creates the money in the first place ) in order to pay back the intrest
@drakepetersen Therefor money is debt ( search for that on youtube for a good and easy explanation ).
With that in mind, bankruptcy's, unemployment, poverty etc are all build into the system.
The FIAT system is a musical chair race ( not sure what's it called in english sorry. But it's the game where there are for example 6 people and 5 chairs. Music stops, one person drops off = bankruptcy )
Also there is the fractional reserve banking, this means a bank can loan out X amount more than it
@drakepetersen I hope you understand what i was trying to say ( i'm sorry for my poor english ). Some video's you might really enjoy on this subject ( some are a long sit, but very informative! If you still have questions, feel free to PM me or reply here =] ) : Money as debt 1: /watch?v=Dc3sKwwAaCU Money as debt 2: /watch?v=rCu3fpg83TY Zeitgeist money creation: /watch?v=fxPBh-5TJBQ The American Dream: /watch?v=ZPWH5TlbloU The GOldsmiths Tale: /watch?v=3HdmA3vPbSU
@drakepetersen Ah yes, i've seen the video you linked me to before. That's basicly ( at least i think ) because they didn't value the currency well enough with the gold standard. If you value it right then this shouldnt happen.
Then again, the gold standard ( even with this mistake build in if it's true ) will be better than the FIAT system. Basicly since the FIAT system is mathematicly guaranteed to collapse and it's a build in law that it MUST and WILL collapse.
In an expanding economy, the same amount of gold (more or less) would have to cover more worth – the economy has expanded after all, which means that the gold would become more valuable, which would equal deflation. Character limits me from explaining why a little deflation is worse than a lot of inflation...
I have an important question on the gold standard. I believe in it but how is the government to know how many certificates (dollars) to print in terms of gold?
Ron you are the politician the whole world’s been waiting for eons! Please fellow America vote him, it’s probably your, and our, last chance against the establishment cartel! And about his gold standard theory, well there are some more exciting news related to that at Divine.cosmos.com(the trillion Dollar Lawsuit..).I believe it’s all happening, I believe 2012 it’s the year in which we can all start being free and thriving together like we are meant to. Namaste from Italy
..... gold standard means that we cannot control our currency. our currency will be solely based on the amount of gold that exist and at any given time and with out having any control on our money supply we can not make effective monetary policies. there is a reason why no country follows the gold standard because its just not efficient. I like all your other ideals Ron Paul but the economy is pretty important so i guess i will place my bet on Jon Huntsman
I think a lot about government. I honestly can't see using the gold standard. Our economy is built off of our work. It isn't built off of paper. Who would give up food for gold. Nobody. Currency doesn't have value in itself. People would be able to manipulate our economy off our need for gold more than the government is right now. They could mine gold and deflate our currency and that's worse than the Fed.
Ron Paul's 2006 Financial disclosure: Vista Gold Corp. Newmont Corp. Agnico Mines Claude Reserves inc IAM Gold Corp. Pan American Silver (Ok, yea, thats just silver) Great Basin Gold Ltd Golden Cycle Gold corp ISIN (Formally River Gold Mines Ltd. Barrick Gold Corp Virginia Mines Goldcorp inc Mettalline Mining Corp Conflict of interest much?
What people don't realize is that mining for gold really fucks up the environment... Mining enough gold for just one wedding ring produces about 20 tons worth of waste, There are no proper environmental standards, Goldmines use an estimated 182,000 tons of cyanide a year, and Mining operations tend to only employ a few people, and local residents rarely see the benefits to their economy.
For all Gold Bugs: Gold based or Fiat money makes no difference! By lending and re-lending out, banks create more money in accounts all the time. The interest they charge, they do NOT create. More debt is created than there is money! When people can't pay their debts, banks go broke just the same and savings in accounts are lost. Please see: /watch?v=7kk6fplyLTI and /watch?v=UG5luKfGjU0
He's consistently wrong. He's a corporate shill and has been pay off for years. All you people that thinks he has the American people best interest at heart are in for a rude awaking. The talking points are the same as Reagan but more extreme. Bring the top tax rate up to 53 % and most the problems will disappear.
@tonyron1 the problem isn't the tax rate, it's the government. You could have an 80% tax rate and we would end up wasting it away and accumulating more debt down the road again.
Ron Paul has been warning us for years and we've been too stupid to listen. We're losing liberties by the minute, the Constitution and it's Founding Fathers are being trampled on. "Super Congress" was just enacted and the fall of America has begun.
RON PAUL, WE ARE STILL WAITING FOR AN ANSWER! TELL AMERICAN PEOPLE HOW EXACTLY RU GOING TO CREATE JOBS? OK LETS SAY ALL TROOPS CAME BACK AND THEN WHAT? THEY ARE GOING TO SELL IPHONES AND BLACKBERRIES? DUDE BE A MEN, HOW RU GOING TO CREATE JOBS? POPULATION OF CHINA IS 1.4 B CHINESE WORK LIKE ROBOTS, BE HONEST TELL AMERICAN PEOPLE TO BUY UR BOOK U NEED CASH , U LOVE POWER, U LOVE CASH, U WILL NEVER CREATE JOBS, U HAVE NO ANSWER!
Can I ask someone who knows to compare and contrast the pros and cons of a Gold-Backed currency like Ron Paul is suggesting, and a Gov't issued and controlled FIAT currency like what Abraham Lincoln implemented? Both essentially would abolish the Federal Reserve but I don't understand enough to know which would be better.
this guy is the only person in government that says the SAME THING for over 20 years..its like..if i listin to him in 1988 and today it's a tap recorder
His idea regarding small government, no income tax, make total sense. The power the government has now, and the overwhelm income tax, have played the big part in dragging down the US.
right hes on the networks and ran for prex (bu not in the elction) cuz he is a real opponent of the system. even tho they promote him and he could have denied obama the prex.
"does Ron Paul speak the truth? is his philosophy of government sound?"
It did fine till early 20th century & turned US into a world-powerhouse
The two enemies of the people are criminals and government.
My reading of history convinces me that most bad government results from too much government.
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Sad but true. I don't really think Paul is a agent, but he is deluded. The gold standard is just as much a tool of the criminal slavers as the fed. They laugh while we stagger back and forth between the two.
At least Paul would end the most egregrious of government intrusion - might wake up the sleeping giant, no?
"The gold standard is just as much a tool of the criminal slavers as the fed"
I bet you don't even know what a REAL gold-standard is like. Hint - its NOT like the PHONY gold-standard the world had earlier. Please feel free to tell me WHY you think gold-standard is so bad
"he was an agent even back then of the cartel. why doesnt ron paul talk about whoo is in charge of the bailout and who is behind it?"
*facepalm* How would he know who's in-charge, I'd advise you to watch this video-series >>> watch?v=lXb-LrVkuwM <<<, it tells you how the system we've works, althought the "solution" it seeks to provide is even worse but I think you'd be glad you watched the history of money. Please do watch it & be more informed.
At 6:00 now reflect today. He was right, Soviet Union collapsed not because they gave up but because they became bankrupt!
Da1RiSiN1sMoKe 2 days ago
Comment removed
MrLewisMovies 2 weeks ago
That's the best part of Ron Paul's views, they never change.
ariuszarim 3 weeks ago
Wow.. his Soviet Union predictions were accurate (collapsed a few years later). Just a matter of time for us, unless he can get elected.
greatslasher 1 month ago
He has said he is no longer in favor of the death penalty because it is disproportionately slanted against minorities.
flupachi 1 month ago
The Gold Standard destroyed a few other countries for example Britain...it'll cause deflation and this is basically the only reason why I won't vote for Ron Paul. This is in macroeconomics 101 textbooks I don't get why he wouldn't know about this.
xiAMGeno 1 month ago
@xiAMGeno The whole reason their was so much deflation was because the Fed held back 40% of the money supply.
TheMadCrumpet 1 month ago
Comment removed
smnaotrt 1 month ago
@xiAMGeno How did it destroy Britain?
CabhanListis 1 month ago
@xiAMGeno So everything in a book is right? So they were right 600 years ago when they wrote in the books that the world was flat? That men could never fly? I'm sorry but marcoeconomics 101 books can have mistakes in them. They're not a bible you see, they are a book. It's not a religion you know.....
Besides, it didn't destroy britain at all. Where are your facts to back this up anyways?
WGutjens 1 month ago
@WGutjens /watch?v=MvBCDS-y8vc
I recommend the whole video but your question is answered at 4:00. The issue of the gold standard is something I'm still trying to grasp. I want to know why people think it is necessary when it seems that Fiat currencies could work because money is completely psychological.
I agree with Ron Paul on nearly everything else so I bet I would agree with him if I understood this issue so any resources would be appreciated.
drakepetersen 3 weeks ago
@drakepetersen Well i think basicly the reason they want to go back to the gold standard is because of the Intrest Payments.
You see, in a gold standard there is only a said amount of money ( this includes the intrest to be paid ). Therefor this system can basicly last forever.
In a FIAT system, the money in supply does NOT include the intrest that needs to be paid back. Therefor you need to BORROW money ( which creates the money in the first place ) in order to pay back the intrest
WGutjens 3 weeks ago
@drakepetersen Therefor money is debt ( search for that on youtube for a good and easy explanation ).
With that in mind, bankruptcy's, unemployment, poverty etc are all build into the system.
The FIAT system is a musical chair race ( not sure what's it called in english sorry. But it's the game where there are for example 6 people and 5 chairs. Music stops, one person drops off = bankruptcy )
Also there is the fractional reserve banking, this means a bank can loan out X amount more than it
WGutjens 3 weeks ago
@drakepetersen it has. In the USA it's 10 times the money it has, in europe i think it's 33 times.
Meaning for every 1 dollar created, 10 can be loaned out ( on which all there is intrest ).
In europe this would be for every euro created, 33 or so can be loaned out.
This all requires more intrest to be paid. How to get the money for the intrest? Borrow more.
The only way a FIAT system can work is without intrest.
WGutjens 3 weeks ago
WGutjens 3 weeks ago
@drakepetersen Ah yes, i've seen the video you linked me to before. That's basicly ( at least i think ) because they didn't value the currency well enough with the gold standard. If you value it right then this shouldnt happen.
Then again, the gold standard ( even with this mistake build in if it's true ) will be better than the FIAT system. Basicly since the FIAT system is mathematicly guaranteed to collapse and it's a build in law that it MUST and WILL collapse.
WGutjens 3 weeks ago
In an expanding economy, the same amount of gold (more or less) would have to cover more worth – the economy has expanded after all, which means that the gold would become more valuable, which would equal deflation. Character limits me from explaining why a little deflation is worse than a lot of inflation...
TearsOfWar1 1 month ago
I have an important question on the gold standard. I believe in it but how is the government to know how many certificates (dollars) to print in terms of gold?
jneil2007 1 month ago
When was this? Early 90's? 10, 20 years ago?
ak47mayham 2 months ago
@ak47mayham The description said 1988.
RSRebornDeath 1 month ago
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Ron you are the politician the whole world’s been waiting for eons! Please fellow America vote him, it’s probably your, and our, last chance against the establishment cartel! And about his gold standard theory, well there are some more exciting news related to that at Divine.cosmos.com(the trillion Dollar Lawsuit..).I believe it’s all happening, I believe 2012 it’s the year in which we can all start being free and thriving together like we are meant to. Namaste from Italy
andmac73 2 months ago
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..... gold standard means that we cannot control our currency. our currency will be solely based on the amount of gold that exist and at any given time and with out having any control on our money supply we can not make effective monetary policies. there is a reason why no country follows the gold standard because its just not efficient. I like all your other ideals Ron Paul but the economy is pretty important so i guess i will place my bet on Jon Huntsman
VileRedStar 2 months ago
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I think a lot about government. I honestly can't see using the gold standard. Our economy is built off of our work. It isn't built off of paper. Who would give up food for gold. Nobody. Currency doesn't have value in itself. People would be able to manipulate our economy off our need for gold more than the government is right now. They could mine gold and deflate our currency and that's worse than the Fed.
rexbreed 2 months ago
Comment removed
rexbreed 2 months ago
TearsOfWar1 2 months ago
What people don't realize is that mining for gold really fucks up the environment... Mining enough gold for just one wedding ring produces about 20 tons worth of waste, There are no proper environmental standards, Goldmines use an estimated 182,000 tons of cyanide a year, and Mining operations tend to only employ a few people, and local residents rarely see the benefits to their economy.
TearsOfWar1 2 months ago
This has been flagged as spam show
For all Gold Bugs: Gold based or Fiat money makes no difference! By lending and re-lending out, banks create more money in accounts all the time. The interest they charge, they do NOT create. More debt is created than there is money! When people can't pay their debts, banks go broke just the same and savings in accounts are lost. Please see: /watch?v=7kk6fplyLTI and /watch?v=UG5luKfGjU0
Adriaan1950 3 months ago
The Gold Stand ruined Britain's economy under Churchill. Churchill said it was the biggest mistake he made.
DerrenBrown100 4 months ago
@DerrenBrown100 Correlation does not equal causation. Britain had many other problems that affected their economy at that time.
TheGamerJoseph 3 months ago
@DerrenBrown100 If something ruined the british economy it was definitely not the gold standard.
Elmgren76 1 month ago
@Elmgren76 DITTO
flupachi 1 month ago
He's consistently wrong. He's a corporate shill and has been pay off for years. All you people that thinks he has the American people best interest at heart are in for a rude awaking. The talking points are the same as Reagan but more extreme. Bring the top tax rate up to 53 % and most the problems will disappear.
tonyron1 4 months ago
@tonyron1 Yeah cause you know high taxes have worked so well this far, the answer is obviously more of the same. End sarcasm.
supahsekzy 4 months ago
@tonyron1 the problem isn't the tax rate, it's the government. You could have an 80% tax rate and we would end up wasting it away and accumulating more debt down the road again.
AlexMoensChannel 3 months ago
Government should not have the right / duty / authority to execute people. One false positive and it's declared unconstitutional.
Hkepfer 4 months ago
so is this 1988 or 2012? i cant tell lol RON PAUL 2012!!
iluvpoliticzz 5 months ago
One word that destroys the claims that we must return to the gold standard:
Iceland.
greg55666 5 months ago
I AM IN AWE OF RON PAUL!!!!
A true prophet he is
Bestman1177 6 months ago
Damn he's consistent !
rubbersole79 6 months ago 3
Fuck
Ron Paul has been warning us for years and we've been too stupid to listen. We're losing liberties by the minute, the Constitution and it's Founding Fathers are being trampled on. "Super Congress" was just enacted and the fall of America has begun.
We have one last chance. Ron Paul 2012.
BigGame89 6 months ago
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RON PAUL, WE ARE STILL WAITING FOR AN ANSWER! TELL AMERICAN PEOPLE HOW EXACTLY RU GOING TO CREATE JOBS? OK LETS SAY ALL TROOPS CAME BACK AND THEN WHAT? THEY ARE GOING TO SELL IPHONES AND BLACKBERRIES? DUDE BE A MEN, HOW RU GOING TO CREATE JOBS? POPULATION OF CHINA IS 1.4 B CHINESE WORK LIKE ROBOTS, BE HONEST TELL AMERICAN PEOPLE TO BUY UR BOOK U NEED CASH , U LOVE POWER, U LOVE CASH, U WILL NEVER CREATE JOBS, U HAVE NO ANSWER!
democratsaresmart 7 months ago
This comment has received too many negative votes show
this guy is bat shit crasy
ohwnou 10 months ago
@ohwnou yeah, crazy about liberty!
UngratefulLiving420 7 months ago
Poor people are just lazy
lovethyneighborloljk 11 months ago
The only difference is that back then he was talking about $280,000,000,000 deficits. Today it's $1,600,000,000,000... almost 6 ties as much!
Everything is worse because we haven't elected Ron Paul.
kurtaDHS73 1 year ago 25
Can I ask someone who knows to compare and contrast the pros and cons of a Gold-Backed currency like Ron Paul is suggesting, and a Gov't issued and controlled FIAT currency like what Abraham Lincoln implemented? Both essentially would abolish the Federal Reserve but I don't understand enough to know which would be better.
juffan 1 year ago
this guy is the only person in government that says the SAME THING for over 20 years..its like..if i listin to him in 1988 and today it's a tap recorder
Daniyoyo 3 years ago 34
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@Daniyoyo What Obama could do to gold in peoples' hands /watch?v=dbrsI8S4Tro
vechorik 4 months ago
@Daniyoyo the question is, is that a good thing?
MrLewisMovies 2 weeks ago
His idea regarding small government, no income tax, make total sense. The power the government has now, and the overwhelm income tax, have played the big part in dragging down the US.
GoldSilver588 3 years ago 5
Just think how much better the world would be today of Dr. Paul had been elected in 88.
Northwesternkaiser 3 years ago 2
he was an agent even back then of the cartel. why doesnt ron paul talk about whoo is in charge of the bailout and who is behind it?
Tim Geithner Treasury Secretary Designee Linked to Foreign Criminal Syndicate
Ecothearcy 3 years ago
quite a large claim... but alas, does Ron Paul speak the truth? is his philosophy of government sound?
ParapaDrifter 3 years ago
right hes on the networks and ran for prex (bu not in the elction) cuz he is a real opponent of the system. even tho they promote him and he could have denied obama the prex.
Ecothearcy 3 years ago
and Obama isn't a part of the system? Hes got Zbig in his cabinet for christ sakes!
They promoted him? ZERO.. I promoted him, not them.
Please clean up your sentences,they are very fragmented.
ParapaDrifter 3 years ago
of course obama is. its a simulation of democracy, not the real thing, and ron paul has his part.
zbig on the other hand is 80 years old. hesa figure head now for alex jones , thats it.
Ecothearcy 3 years ago
@ParapaDrifter
"does Ron Paul speak the truth? is his philosophy of government sound?"
It did fine till early 20th century & turned US into a world-powerhouse
The two enemies of the people are criminals and government.
My reading of history convinces me that most bad government results from too much government.
I predict future happiness for Americans if they can prevent the government from wasting the labors of the people under the pretense of taking care of them.
Thomas Jefferson
lomocan 1 year ago
@Ecothearcy
Sad but true. I don't really think Paul is a agent, but he is deluded. The gold standard is just as much a tool of the criminal slavers as the fed. They laugh while we stagger back and forth between the two.
At least Paul would end the most egregrious of government intrusion - might wake up the sleeping giant, no?
randyleepublic 2 years ago
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@randyleepublic
"he is deluded"
WHY?
"The gold standard is just as much a tool of the criminal slavers as the fed"
I bet you don't even know what a REAL gold-standard is like. Hint - its NOT like the PHONY gold-standard the world had earlier. Please feel free to tell me WHY you think gold-standard is so bad
lomocan 1 year ago
Comment removed
lomocan 1 year ago
@Ecothearcy
"he was an agent even back then of the cartel. why doesnt ron paul talk about whoo is in charge of the bailout and who is behind it?"
*facepalm* How would he know who's in-charge, I'd advise you to watch this video-series >>> watch?v=lXb-LrVkuwM <<<, it tells you how the system we've works, althought the "solution" it seeks to provide is even worse but I think you'd be glad you watched the history of money. Please do watch it & be more informed.
lomocan 1 year ago