1983: Ron Paul Debates Federal Reserve Governor 5of7

[macroman52]

Paul is wrong when he says we don't need an increase in money supply when population and production increases. History has shown that deflation is bad for business ; business pays current price wages to invest and when they come to sell prices have gone down - causes problems, losses, and always has. Also one has to repay debt with MORE value than you borrowed - again causes problems for trade and business. Have to take that seriously.

[jsj297]

what a verbal ass raping Ron gives!

[soccom8341576]

It's interesting... some of the impracticalities of the Gold Standard are actually quite true. How are we going to expand the supply as the economy grows anyway? This is quite difficult. But do we actually need to increase the gold supply anyway?

[no3commando]

The gold standard is not impractical. Gold has historically been the most commonly traded commodity. Money came about as the representation of this commodity. It is not so important to have elasticity for money but Stability.

[soccom8341576]

well, it still means keeping government spending under control, and keeping banks accountable.

[letmapeoplego]

A Fiat system may work if it was automatic without discretion. An automatic 3% expansion of the money supply would create a stable growing economy--with no intervention.

Gold can be manipulated by central banks and the super resourceful.

[lsa420]

Wrong.  Money supply growth does not equal economic growth or stability. Monetary supply growth equals inflation, and this inevitably destroys the middle and lower class. With gold, prices continually fall with economic growth, which is the most moral system that exists.

[RKAddict101]

@letmapeoplego There'd still be problems with that because the inflation would help whoever got the money first, and hurt anyone that saved that was at a lower part of the money chain.

[infokemp3]

Then organized crime creates institutions of criminal enterprise - like the IMF, like the Fed, like the Reichs Banks and the Soviet Politburo, like the Vatican, like the Bank of England - the names are deceptive- deception is a state of mind and the mind of state - The NWO is just organized crime, once we recognize that then we can end this insanity.

[joelava63]

to even understand the complexity of all this shows you what a true genius Ron Paul is...i mean this is PhD in Economic theory/ethics/morals/poli-sci and philiosophy and history of civilization all wrapped into one...and the tremendous ability to articulate this at a level that an eighth grader could reasonably comprehend!,,,if he could only beam that audience to 2008 and our trillions in debt!

[OnlinePokerDude]

Its amazing how Ron's message hasn't changed over the past 24 years... where as now days hillary and gulliani change their views daily, possibly hourly...

This is a credit to Dr. Paul, I truly believe this with my heart and soul "Ron Paul is the only honest person running for president"

[DannyDorko33]

Just because you support Ron Paul for president does not mean you have to blindly accept that he is right about the gold standard being what's best for the country. I, for one, do support him, but I have read and seen people talk with just as much fervor about the evils of the federal reserve system while also being against the gold standard. All I'm saying is that we should agree that the current system cannot work forever, but the gold standard might not be the best option either.

[rundoetx]

at over 800.00 per ounce I'll take some. Remember this is 2007. Dollar dropped at a alarming rate and gold rising so fast tht we can't keep up with it.

Free Hugs From TX

RundoeTX

[rjshmo]

You become less secure when you rely on the state and military and not on your society. The government has been destroying its own society for one hundred years.

[pwegman]

Wow, I missed about half of what Charles Partee said.

I can actually sit and listen to Ron Paul without falling asleep.

[dotnetprodev]

The only thing that Ron Paul has been wrong on is the Gold Standard. 3/4 of the gold in the world is owned by the same people that run the Federal Reserve and therefore the world's money supply.

But this WAS in 1983. The only money system that worked was during Lincoln's tenure and it was a totally Fiat currency and not backed by anything. The key is that the government has control over its own currency. It doesn't matter if the the currency is backed by any natural substance or not.

[hooligan2005]

It does matter if the currency is backed by "natural substance",something universally accepted as value. The lack of it gives rise to uncontrolled govt spending, uncontrolled credit and eventual uncontrolled inflation. HE said it is no accident the rise in govt growth since 1971 corresponds to the dismissal of the gold standard. No country has ever survived a fiat currency.We will be no exception.

[infokemp3]

What has to happen is that the US seize back its gold reserves, when all you have is law enforcement and military power you may have to use it. The whole NWO anyway will have to be rooted out and their made men and associates, and terrorist put on trial.

Its organized crime and so we may have to except that some case will not get convictions but that does not mean we should not try, continued vigilance and a knowledge of science and economics is vital.

[morphyne187]

If government has monopolistic control of currency they therefore will have the same monopolistic control of its citizens. I call that TYRANNY.

[infokemp3]

25 years; same system, same problems - individuals, society and nations cannot progress when the state is so powerful, the state when not limited is likely to be subverted by organized crime,

( see my next comment)

[dentistsugardusty]

25yrs = lots of trial & error

[infokemp3]

You make a fair point, although I disagree, you should not be marked down, you did not say anything insulting to Paul or anyone else.

Paul's not saying that there is a case for previous gold standards, he is for letting the market decide by competition between paper money, digital gold standard and hard gold coins. Your main point though is correct, the majority of gold is held by the IMF, thats as NWO/mafia controlled as the Fed and B of England.

[errp8]

Earlier he said "You don't get more defense when you spend more on defense." Fighting the Military Industrial Complex even in the Reagan days!

[drr0b0tnik]

Did he just say militant foreign policy and welfare/warfare state? I think I heard that a couple times in the 2007 debates. Definitely not a flip flopper!

[Musashi]

wow a 3rd of the ppl that watched the 1st video got this far ;_;

[Sam171717]

I second that Ron is Brillaint!

[wortguy]

LOL - they WISH they could print gold!

[Dumbell99]

Then gold would be worthless as paper.

[webe0236]

ron is a brilliant man!