1933- FDR Ends the Gold Standard

[SuperTofu93]

Lower inflation rates make it hard for debtors to repay banks. That's why gold is good for big business but bad for the American people.

[mongoose704]

One criticism I do have of Ron Paul is I wish he would speak more on the solution to inflation and the trade cycles caused by FIAT currencies. He most certainly does have those solutions and they are exactly what we need. But sometimes he speaks too much about the problems.

[evadidio]

@mongoose704 No, he doesn't know the economy at all.Only demagogism.Every people well skilled on GS knows it will bring a new feudalism with deflationary welfare and unemploying. A new ultra tech- slavery. Infact the currency of NWO wants to be a GS currency, so who's rich will become richer and richer and who's poor will be poorer and poorer.

[Thetruthishere11]

hoover = FDR

[mongoose704]

@Thetruthishere11 TRUE! The New Deal was the brainchild of Hoover and he first implemented it. Mises wrote a lengthy essay on the first New Deal brought about by Hoover. When the first "so-called official New Deal" was drafted by FDR, Hoover was his chief advisor. Academians praise FDR for the New Deal and trash Hoover because he was supposedly "Laissez Faire." Gotta love communist propaganda.

[LER77]

Boat Loads of American gold was shipped over seas. USA inc was bankrupt.

[xms32]

FDR didn't end the gold standard. Learn your history. He suspended it and stole gold from the citizens. President Nixon ended the gold standard in 1971.

[ytubechad]

FDR did end the gold standard. president nixon ended the brenton woods agreement which is different from the gold standard.

[xms32]

That's funny. I thought the end of the gold standard came when our money was no longer backed by gold, which is what the gold standard was. And that ended in 1971.

[ytubechad]

only dollars held in international banks were supposed to be backed by gold from 1946-1971 during the bretton woods agreement. all dollars in circulation were not backed by gold. It turned out that the U.S didn't have enough gold to back just a few european banks when they requested the gold in exchange for there U.S dollars. so this was a "gold standard", but it was a bad one.

[xms32]

interesting. I'll have to do some reading. thank you.

[mongoose704]

@ytubechad Our gold standard was always screwed up. Government pegged the cost of gold to silver which is what created all of the bank runs because a government induced shortfall on one would cause a panic run on the other. The was way too much intervention on the price of gold and silver by the government for the standard to work.

I believe in sound currency but I would not want a return to the gold standards of old. I would want a revised gold standard or perhaps competing currencies.

[evadidio]

@xms32 GS presents an obscure shade:the fixing.If I' m a ruler and I can fix the gold tax, I can say an ounce of gold is valuable as a car. And all the people who don't have any? This is slavery and feudalism. GS is not as fair as it seems. Could be a major X than the fiat.

[Rickdeckard2020]

Great video, but it appears that the gold standard is not the simple solution a lot of people now think it is.

I suggest seeing the video 'Money as debt' to have a complemetary perspective.

/watch?v=cy-fD78zyvI

[peterkolar]

"Money as debt" is an excellent explanation of how money is created out of thin air by governments and private banks, but the conclusion of that video is deeply flawed. Gold and silver are the free market choices for money. Politicians and bankers hate real money because it constrains their ability to spend and generate profits, respectively.

[mongoose704]

@peterkolar AND SOUND MONEY severely limits the ultra wealthy and governmental partnership's ability to redistribute income. FIAT currencies (and their control by the federal reserve) give the government a tremendous amount of power to redistribute wealth from the poor and middle class to the rich through a subtle mechanism called inflation.

[evadidio]

@mongoose704 You think? I't s really ingenuous.You know who fix the gold taxes every morning at the LBMA? 6 people ultrarich in the world. Only 6 people.Rotschild, Goldman, and other 4 less known.GS presents an obscure shade:the fixing.If I' m a ruler and I can fix the gold tax, I can say an ounce of gold is valuable as a car. And all the people who don't have any? This is slavery and feudalism. GS is not as fair as it seems. Could be a major X than the fiat.

[benjie2429]

Great video I'm gonna steal it lol...gotta let everyone know

[RonPaulWillSaveUs]

Please do!!

[walshman64]

Look people! More education for YOU outside of the controlled media boob tube! Learn. Research.Critical thinking helps you understand why your economy and Rights have been stomped on! Why your so damn poor and work all week!Keep your money! Ron Paul will Smash the IRS and Arrest the Federal bankers for counterfeiting and embezzelment! Long Live Ron Paul and the Constitution!

[daveho77]

great video! thanks for posting. Ron Paul 2008!!