If it can be used to buy goods, it's pretty well established that it is just as much money as a dollar... although your local grocery won't take it lol
The bernank is a computer program in the Matrix designed to protect the artificial money supply. But the program became self aware and wanted a world currency so it planned to destroy the $ and collapse the economy. However there was a guy 'The One' who was chosen by a growing group of freedom fighters to be elected as the new leader of the people. However many people were still plugged into the Matrix and did not see reality. But the one was ready to fight the machines and gain freedom back.
Much as I want others to see the dissembling of the man put on the spot I cannot honestly "like" the video... Q:Why do central banks hold [gold] A:"Tradition"(!)...
Do watch "Rise like lions" the movie on the Occupy movement as well. Also, read "The Problem with Interest".
If on Twitter, do follow #endthefed as well as #ows.
ODD ? 1914 The FRB still utilized gold AS MONEY. Thankfully Ben does not have the authority to determine what the originators of the Constitution deemed as money. There is no specific statute that states so however traditionally American money was denominated in Gold and Silver. The ratio of pure silver to pure gold by wt in the DOLLAR was 15 to1 . Gross wt of the Gold Dollar was 27grains and the Silver dollar was 405 grains. People can argue all day BUT Congress relinquished their mandates.
@1604197813 The US Constitution makes this definition in Article 1, Section 10, which is limitations on the states, not the federal government. This is the only place in the Constitution where the word "gold" is mentioned, as well as the word "tender". Also, as an aside, the original money in the colonies was colonial scrip. It was fiat money as well and the colonies flourished. Purchasing power is diminished by the biggest underlying cause of inflation: government debt.
(A constitutional facility of the treasury, borrowing on the credit of the US)
And this is?
Anyway, everything can be debated. If america was a healthier country, they would have politicians dealing with that kind of issues constitutional or not. (If it is a issue as I dont know what facility your mentioning)
@Armigo91 When I refer to a constitutional facility, I simply am talking about a means of borrowing on the credit of the united states, as stated in the constitution. Article 1, Section 8 of the United States constitution has a clause that states: "To borrow Money on the credit of the United States;". Treasury bonds are a means of doing that. That's all I mean.
I admit that there are problems with the Fed, but most of them stem from political influence that strays them from their mission.
Ron Paul doesn't seem to realize that money that is monetized out of "thin air" comes from fiscal deficits that become debt. If you thought that debt came from Congress.....you get a gold star. It's our ability to allow investors to hold government debt through bonds (a constitutional facility of the Treasury, borrowing on the credit of the US) that debases the dollar, not a Central Bank. The solution has ALWAYS been to ask the custodians of our fiscal house, Congress, to stop spending.
Yes, but every investor is a individual allowed by congress to proceed. They certainly add up to the debt, exspecially the international debt. But the federal reserve is without question taking the front row seat for filling up deficits.
So the problem isnt only subjected to the federal reserve. But theyre a big contributer to the problems, and Ben bernanke had and perhaps still has his own agenda.
@Armigo91 Also, can you elaborate when you say "filling up deficits"? The Fed does not utilize taxpayer money, nor is it anywhere in the budget. It is a self sufficient entity and since it's non-profit, deposits it's earnings (minus about 5% operating costs) into the Treasury every year. If that's not what you meant, please let me know.
Money is an idea, and therefore infinite. Money manifests as reward for service rendered. The amount of money you earn is directly proportional to how much service you render. The reward we get for service rendered is called currency. When you trade for an item from a store, you give that store currency. The currency is accepted among the population to have value and is used as a medium of exchange to avoid an inefficient system of barter. When you purchase something, you're not taking.
This is why you back currency in other assets along with gold. There is a finite amount of gold currency available, which would allow other countries to influence our own economy through the devaluation of gold,(not to mention what would happen if a surplus of gold was discovered).
Either way, you cannot go into the future with an ever growing pool of fiat currency. Collapse is inevitable.
I have to keep posting this - if you live in a closed /semi closed primary state , you MUST register as a Republican in order to vote Ron Paul in the crucial primary election . I suspect RP has a lot of Dem supporters who may be disappointed when they go to the polls if they do not change party affiliations . The closed /SEMI CLOSED states are : AZ, CO, CT,DEL,FL,MA,MD,HI,PA,NY,NE,SD,UT,WV,KY,LA,OK,OR. Let's do our part - don;t let him lose the nomiantion.
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!
The main thing is Do Not forget to register as a Republican so we can vote for him in the primarys otherwise we wont be able to vote for him in the Presidential election !!!
Yeah, college professors understand the financial system. But I know everything about the banking and financial system because I watched a 2 hour documentary written by someone who either isn't even an economist or who hasn't accomplished anything in the field of economics. I suspend all logic and reasoning when discussing the Federal Reserve. Its controlled by foreigners, unconstitutional, buy out politicians, has no government oversight, is never audited and even killed JFK
@SadegoGG accomplish in the field of economics???? I don't think denying predictable events are going to happen as accomplishing something in economics
the fact that I had to sit thru keynes lectures and know how much I was paying for some dude to tell me allowing government to throw cash around to their buddies like universities for example was a bad investment, there see that run-on sentence I just accomplished something in the field of economics
The 'national debt' is no more real than the wizard of oz or santa clause. The joke is on you if you believe it because its nothing more than numbers on a computer, all you have to do is unplug it. The 'debt' is merely a mechanism to enslave a country and was never meant to be paid off fully as its not in any bankers best interest for you to be out of debt. wake up people...
What does it matter whether the accounts are stored digitally or physically. By your logic IOUS don't mean shit because you can just burn it. Why are people so ignorant in the field of economics and basic common sense so sure of themselves.
Its because you are discussing economics with people who use absolutely no reasoning or logic when formulating their views on the government and the federal reserve. These people will believe anything that makes them feel off the hook from benefiting society or accomplishing something extraordinary. These people see faults in themselves, and are looking for someone to blame. They do this habitually, and doing so leads them to believe some crazy things.
The Ames, Iowa Straw poll is scheduled to take place on August 13, 2011. Because of this, it is imperative to catapult Ron Paul to victory in the straw poll. On July 19, 2011, we will hold an online money bomb in support of Ron Paul for President 2012, with the goal to win the Ames, Iowa straw poll.
Please invite all your friends and help Ron Paul end our costly military involvements overseas, shrink the size of our government and restore the republic
You can go anywhere in the world and trade gold for food or services. But you cant walk into a McDonalds here in the U.S. with euros or ruples and get food.
Wrong. You can go anywhere and trade a car for food, that doesn't make car money. A money has three properties, a store of value, a medium of exchange and a unit of account. Gold is not a unit of account nor is it a medium of exchange in most places, hence it is not money.
Are you seriously that dumb to think that no one will trade car for food just because they don't need a car? Money must fulfill three conditions, a unit of account, medium of exchange and a store of value. Gold is not a medium of exchange as it is not widely accepted. McDonalds won't accept gold you dumb piece of shit. It is also not a unit of account, hence it's not money.
@ContemplateYourLife Thats right, throw out insults because you cant win an argument.. you fucking troll. Yes, If someone has 10,000 cars and your trying to trade them another car for some other commodity, then they will more than likely tell you no.
Here you go with that economic theory bullshit again that got us into this mess in the first place. Gold has been a medium of exchange thru out multiple times in history, what makes you think it couldn't be again?
I throw out insults because you're a joke. Your arguments are a joke, using strawman arguments such as postulating people with 10,000 cars. Gold was a medium of exchange in archaic times, it's not now, so it's not money. No one measures the value of items with "gold coins", are we even living in the same universe?
@ContemplateYourLife No my friend, you are the joke. You offer no real solutions, no real facts, no real information.. just use jargon, heresay, and complicated words, and then turn to ignorant insults when you cannot get your way.
Look at your page, you have one video up and 20 comments of people calling you a troll among other insults. Is that all you have in your life? Spending everyday surfing the internet looking for videos that you can argue and insult people on? A very sad joke indeed.
@ContemplateYourLife Sir I would Like to say this makes no sense the reason no one uses gold to measure prices is because it was outlawed as currency illegal .Look at it Like this a 12 pack of coca-cola was about a dollar 4 or 5 years ago where as now it is about 5 dollars thats not because the price of coca-cola went up thats because the value of the dollar went down..However if gold were used as currency the price of coca-cola would have went down because the value of gold has went up.
@ContemplateYourLife Hmmm, I wonder why the federal govt keeps gold in reserves then? I wonder why it's being bought buy the ton in China the last few years? The reason is, bc it is money! Gold and silver has already sky rocketed the last couple of years. Wait another 12-24 months, then you'll be wishing you had bought some, instead of holding on to what will become worthless.
So you're insinuating that because the federal reserve keeps gold, its money? Why are you so disconnected from logic? Point out how the federal reserve's keeping gold means that its money. So what if gold and silver skyrocketed? Apple shares skyrocketed this decade, are their shares money?
Also, Medium of Exchange - Meaning that people accept it as a form of currency. The only reason we accept and for the dollar is that the government tells us to do so.
Unit of Account - Able to be divided into equal smaller parts of equal value. Gold Coins.
Store of Value- Must be able to be stored and retrieved later at a predictably usable value later. Gold is this even more-so than the dollar. The next time you want to debate, Throwing out insults makes your argument null and void.
Gold is not money in the United States by current United States law if using technical economic definitions of money. You already discussed the reasoning behind it in your comment.
In fact, if you are NOT using economic definitions of money...gold, paper bills, silver, etc...all are not money. In actuality money is an idea. Its expressed as reward for service rendered. What you are discussing is the expression of service, which is a side effect to the idea of money.
@SadegoGG Now you are responding to something that was said half a month ago. Gold has been currency for the past 3 or 4 thousand years. It has backed the current paper money, since paper money started off as just receipts from the gold smiths for how much gold they held for you.
In 1971 the U.S. was taken off the gold standard by Nixon, and since then we have just been playing with monopoly money, currency no longer backed by gold, silver or any other assets, only backed by debt.
See, gold isn't money by US law. And monopoly money is not legally money either. Federal Reserve Notes are money. Money is an idea. Whether its a piece of medal or a paper bill.
@SadegoGG Gold is not "currency" by U.S. Law. Money is anything that is agreed upon as a medium of exchange.
Money can be gold, silver, rice, animal fur, cow chips, severed hands (Congo Free State), as long as people consider it a medium of exchange. For many centuries, gold has been a commodity money, and acted as a standard for most currencies.
Federal Reserve Notes (Fiat Money) are an idea with no intrinsic value, only declared legal tender by the U.S. Government.
Money is defined as all the currencies in an economy in economics. Gold is not a legal currency in the United States and therefore isn't money by US Law. Bernanke was obviously referring to money in the US. If you wanted to define money at a deeper level you could define money as an idea that manifests as reward for service rendered. In which case the currency you receive is a side effect of money, thus gold still wouldn't be money.
Bernanke knows about the gold standard and the history of gold/silver being used as money. To argue he had no knowledge of it would be ridiculous. If you use any degree of thinking and logic it is painfully obvious Bernanke was using the economic definition of money as pertaining to United States law. Its obvious the United States isn't a country where you go to the store and barter...instead you use paper money, etc...(but not gold) as a medium of exchange in the US.
@SadegoGG Im not arguing that Bernanke has no previous knowledge of gold and silver, or as to what constitutes as money. Im arguing that he is DENYING his previous knowledge of gold and silver, since you cannot say gold is money, but you also cannot say gold is not money.
The gold standard was previously used in the U.S. and all over the world until 1971, when the U.S. enacted a fiat monetary system. Gold is still a medium of exchange in many parts of the world, but US CURRENCY is the dollar.
@SadegoGG we need to get back to an age where our money is backed by gold along with a group of other assets and commodities, so that our currency and inflation begins to regulate itself. Gold has varied little in value over the past century, only the dollar has been devalued.
Before you can change our currency system however, you need a much more transparent government.. so that the same monopoly that is in place now, does not get implemented again.. this time backed by real assets.
Those are all opinions, and I am really not interested in discussing opinions. However, there are some problems with going back to a gold backed currency. Let me give you a little history lesson:
In the early 1970s, inflation caused by rising prices for imported commodities, especially oil, and spending on the Vietnam War, which was not counteracted by cuts in other government expenditures,
combined with a trade deficit to create a situation in which the dollar was worth less than the gold used to back it.
In 1972, the United States reset the value to 38 dollars per troy ounce (122.17 ¢/g) of gold. Because other currencies were valued in terms of the U.S. dollar, this failed to resolve the disequilibrium between the U.S. dollar and other currencies. In 1975 the United States began to float the dollar with respect to both gold and other currencies.
With this the United States was, for the first time, on a fully fiat currency.
In economics, fiat currency or fiat money is money that enjoys legal tender status derived from a declaratory fiat or an authoritative order of the government. It is often associated with paper money because, without government fiat, bank notes are not a legal tender in payment of debt, and only specie is unlimited legal tender for money debts.
However this is not universally true, as some currencies, notably sterling issued by Scottish banks, is not legal tender but is accepted by longstanding confidence in the Scottish banking system.
A bank of issue whose notes enjoy legal tender status by government fiat can use its own notes, making their redemption in specie optional — a matter of the 'monetary policy' of the bank in question.
Historically, the institution of fiat currency has preceded and enabled the demonetisation of specie, via a monetary policy decision not to offer payment in specie at par, e.g. by suspension, devaluation or redemption in bullion or foreign currency instead. Eventually this leads to no form of payment, redemption or exchange whatsoever being offered by the issuer and a system of irredeemable freely floating national currencies.
In September 2004, it was estimated that if all the gold held by the U.S. government (261.7 million ounces = 8 140 Mg) were again required to back the circulating U.S. currency ($733,170,953,704), gold would need to be valued at $2,800/ounce (90 $/g).
Money - A medium that can be exchanged for goods and services and is used as a measure of their values on the market. Gold Standard - A monetary standard under which the basic unit of currency is equal in value to and exchangeable for a specified amount of gold.
It's hilarious all these people trying to defend Bernanke by saying gold is an "asset", "commodity", or "precious metal" lol. It's also 79 protons and neutrons.
Ron Paul took it easy on the Bernank. Ron Paul should be leading the United States.. I've not lived in the US for almost 3 years now.. I really can't believe what a mess the US is at the moment. Gold is not money? Look up hyper inflation.
If US Dollar reverses back to gold standard the price of gold will be $40,000 per 1oz. I am not an economics pundit, but that's what I've heard. Is that true?
@MeccaEen That may be true no one knows for sure but You can't eat gold, or silver or dollars. The smart money is on food no? Bypass the middle man and stock up on things gold would buy. As for a currency hedge I think silver is easier to do. More affordable and more spendable.
@MeccaEen With the current money supply an ounce of gold would be worth around $15,000. You just divide the total money in circulation with the total gold available. That's what the gold price did in the 80s.
Now of course the "easing" will increase the supply of money dramatically and then only the sky is the limit.
@MeccaEen I've heard that in order to back all the dollars in ciculation would probably put the price around $20,000 at the most. Of course, that number could be off. Also, if they create more dollars in the meantime, the sky's the limit.
Donate to Ron Paul on July 19th for a big MONEYBOMB event at RonPaul2012(dot)com , the event is called the Ready, Aimes, Fire! Money bomb focusing on raising money for the Iowa straw poll. Ron Paul is currently in 3rd place at 14% and rising in the latest Iowa Poll. Godspeed and Godbless! For Liberty!
Hahahaha Ron Paul is so stupid. I loved Bernanke's face when he asked if he thought gold was money..."Uh.No...it's...not money..it's actually a precious metal..."
@YHWHisSovereign Not really being sarcastic. There are plenty of other valuable assets who's demand has historically never been zero or below. Paul asked why not diamonds? In my opinion, diamonds are as good as gold. The only reason we hold gold is because it's a country-independent unit of exchange, expands the perception of credit worthiness, and hedges against cyclical downturns. Diamonds do all of these things also. We use gold simply out of historical tradition (which has waned, i might add
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If you're new to Ron Paul and don't understand what he's talking about with monitary policy (like me once upon a time) google "hmscoop.com". Real quick easily understandable overview.
if its not money then why put $50 on the american gold eagle you fucking dipshit??? why not just put a picture of your asshole on gold coins and call it ART? WE ARE IN HELL!
BS!!! The reason the federal reserve was created was to destroy America and give all the power to the worlds elites. The "tradition" Bernanke talks about was started with the Federal Reserve Act and the Federal Reserve. Plain and simple! That was 98 years ago, not 235 years ago when OUR American Tradition was started. Plain and simple! Period!
This is scary. I am hoping that Dr Paul gets a good running mate and is our next president.Just think if the gold is gone and oil prices turn out to be just another bubble. I still can't get my mind around how and why these politicians are allowed to run our government and determine the fate of the masses. They have always lied and are misleading with every breath. They even write in ways that make it impossible to determine what is trying to be accomplished.Politicians have sold this country!
Does Our own Government And the Fed. Really think the people of this Country are That Freaking STUPID? I mean, these are like little Kindergarden Games they are playing. With Our Lives! End The Fed., It is Not Needed!
Have Never seen Anyone outright LIE with such a straight face. He is the Best LIAR that I have Ever seen. And He runs this Country!(for those who didnt know).
Hahaha! RP nailed that fag. I'm so disapppointed he's retiring.
At least when the whole mess blows up completely RP will be able to say a big "I told you so" to these idiots.
That's assuming that they haven't been lynched of course or they didn't take their personal reserves of gold bought with stolen dollars and slink off to S. America or some obscure hiding place.
I don't agree with the Gold Standard - because the power shifts to unregulated gold brokers who would have the power to bring down governments at their whim
I don't agree with a rouge Central Bank such as the FED it is better to have a central Bank and currency like the ECB and Euro where the currency is backed by a basket of goods and services as well as gold and silver.
But
You got to love seeing Ron Paul grilling Bernanke!
@cankorgbr Yes, this is true for GOLD and GOLD alone. Silver on the other hand is Money and the ONLY INDUSTRIAL PRECIOUS METAL...PERIOD, SO SILVER IS MORE VALUABLE THAT GOLD...PERIOD
If you don't believe me check out the "11 Silver Factors" video on my channel...PEACE OUT
@snake13x just dumb. silver is a "commodity" which is clear by the fact that it gets used.. Gold is unprintable money. Silver follows stocks, oil, et all.. gold protects from a race to the bottom with all currency. want proof... silver was almost 50 bucks a couple months ago. Silver 23% below high. Gold making new highs. want more proof.. 2008. silver goes to $8 gold rises 8%. I agree with the ben comments, this one however has no depth or understanding of deflationary pressure.
@magichandpuppet check the defintiion of money and then tell me which grocery store i can go to and use gold as a means of transaction, u dnt think bernanke knows what gold is? lol, shutup and listen when he talks next time and maybe youll learn somethign isntead of looking for somethign controversial like a diva whore
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
@Iceman78985 He's not out of his mind, he know's exactly what he's doing. He just plays dumb to keep the game afloat a little longer so his masters can properly prepare.
No, The price of gold pretty much reflects you, central banks and the FED. the price of gold on the USD went up $22/oz in 2 hours...sense you started speaking.
Can you go to a grocery store and pay with gold? No.
Can you get a haircut and pay with gold? No.
Can you pay your taxes with gold? No.
Can you fill up at a gas station and pay with gold? No.
Conclusion: GOLD IS NOT MONEY!
goldenthroat86 1 week ago
HAAAH Stfu bernanke!
robotrippinn 4 weeks ago
nothing changes until the stupid die off or are over run with freedom
yashar254 1 month ago
If it can be used to buy goods, it's pretty well established that it is just as much money as a dollar... although your local grocery won't take it lol
TheTerrorUforgot 1 month ago
BERNANKE = ASS!
vlweb3d 1 month ago 7
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The bernank is a computer program in the Matrix designed to protect the artificial money supply. But the program became self aware and wanted a world currency so it planned to destroy the $ and collapse the economy. However there was a guy 'The One' who was chosen by a growing group of freedom fighters to be elected as the new leader of the people. However many people were still plugged into the Matrix and did not see reality. But the one was ready to fight the machines and gain freedom back.
TWSceptic 1 month ago
greedy jew megabanker
BWCmike 2 months ago
Excruciating...
Much as I want others to see the dissembling of the man put on the spot I cannot honestly "like" the video... Q:Why do central banks hold [gold] A:"Tradition"(!)...
Do watch "Rise like lions" the movie on the Occupy movement as well. Also, read "The Problem with Interest".
If on Twitter, do follow #endthefed as well as #ows.
selfridgeg 2 months ago
I remember watching this live and almost shitting my pants.
Imperativism 2 months ago 4
Ron Paul 2012!
spacebrdcst 2 months ago
Buying gold is a hedge against the FED printing to much foney money. God will you hold him accountable in front of the world for his lying?
genesistwoeighteen 3 months ago
Osama Bernanke makes me sick. He plays on the ignorance of the people. The problem with the people is most of them hate knowledge.
genesistwoeighteen 3 months ago
The US Treasury is the IMF this happened in 1921
genesistwoeighteen 3 months ago
ODD ? 1914 The FRB still utilized gold AS MONEY. Thankfully Ben does not have the authority to determine what the originators of the Constitution deemed as money. There is no specific statute that states so however traditionally American money was denominated in Gold and Silver. The ratio of pure silver to pure gold by wt in the DOLLAR was 15 to1 . Gross wt of the Gold Dollar was 27grains and the Silver dollar was 405 grains. People can argue all day BUT Congress relinquished their mandates.
SethVandenberg 4 months ago
Hey Bernanke I think Ron Paul just pwned you. ;)
Get on Ron Paul's level!
gurtanator 4 months ago
VOTE RON!!!
MrNICCO89 6 months ago
Get em Ron!
landmark425 6 months ago
I like how ROn PAUL smiles at him when he says No lol....WOW ur an idiot Ben. FOLLOW ME ON SPREADING THE WORD IN MY CHANNEL PLEASE SUBSCRIBE!!!!
ReLOVEution2012 6 months ago
@ReLOVEution2012 What Obama could do to gold in peoples' hands /watch?v=dbrsI8S4Tro
vechorik 4 months ago
Decentralize money creation:
All of life has a form of money; its store of value is carbohydrates, which are transferred from specie to specie.
Why an outside source should control our store of value, is beyond me. It’s unnatural, and potentially life threatening...
orvilleclisby 6 months ago
No gold is not money, it's an ETF!
orvilleclisby 6 months ago
Help get the word out about the August 20th Ron Paul Birthday Moneybomb! - ronpaul2012(dot)com
TreyGoettling 6 months ago
@1604197813 The US Constitution makes this definition in Article 1, Section 10, which is limitations on the states, not the federal government. This is the only place in the Constitution where the word "gold" is mentioned, as well as the word "tender". Also, as an aside, the original money in the colonies was colonial scrip. It was fiat money as well and the colonies flourished. Purchasing power is diminished by the biggest underlying cause of inflation: government debt.
NGinuity 6 months ago
@NGinuity
(A constitutional facility of the treasury, borrowing on the credit of the US)
And this is?
Anyway, everything can be debated. If america was a healthier country, they would have politicians dealing with that kind of issues constitutional or not. (If it is a issue as I dont know what facility your mentioning)
Armigo91 6 months ago
@Armigo91 When I refer to a constitutional facility, I simply am talking about a means of borrowing on the credit of the united states, as stated in the constitution. Article 1, Section 8 of the United States constitution has a clause that states: "To borrow Money on the credit of the United States;". Treasury bonds are a means of doing that. That's all I mean.
I admit that there are problems with the Fed, but most of them stem from political influence that strays them from their mission.
NGinuity 6 months ago
LIBERTARIANMONARCHY . COM
ecnerwal999 6 months ago
Ron Paul doesn't seem to realize that money that is monetized out of "thin air" comes from fiscal deficits that become debt. If you thought that debt came from Congress.....you get a gold star. It's our ability to allow investors to hold government debt through bonds (a constitutional facility of the Treasury, borrowing on the credit of the US) that debases the dollar, not a Central Bank. The solution has ALWAYS been to ask the custodians of our fiscal house, Congress, to stop spending.
NGinuity 7 months ago
@NGinuity
Yes, but every investor is a individual allowed by congress to proceed. They certainly add up to the debt, exspecially the international debt. But the federal reserve is without question taking the front row seat for filling up deficits.
So the problem isnt only subjected to the federal reserve. But theyre a big contributer to the problems, and Ben bernanke had and perhaps still has his own agenda.
Everything to big to fail should be demolished.
Armigo91 6 months ago
@Armigo91 Also, can you elaborate when you say "filling up deficits"? The Fed does not utilize taxpayer money, nor is it anywhere in the budget. It is a self sufficient entity and since it's non-profit, deposits it's earnings (minus about 5% operating costs) into the Treasury every year. If that's not what you meant, please let me know.
NGinuity 6 months ago
well, its tradition... LOL
MrHamilton2523 7 months ago
@dwuful
Money is an idea, and therefore infinite. Money manifests as reward for service rendered. The amount of money you earn is directly proportional to how much service you render. The reward we get for service rendered is called currency. When you trade for an item from a store, you give that store currency. The currency is accepted among the population to have value and is used as a medium of exchange to avoid an inefficient system of barter. When you purchase something, you're not taking.
SadegoGG 7 months ago
This is why you back currency in other assets along with gold. There is a finite amount of gold currency available, which would allow other countries to influence our own economy through the devaluation of gold,(not to mention what would happen if a surplus of gold was discovered).
Either way, you cannot go into the future with an ever growing pool of fiat currency. Collapse is inevitable.
MultiShadow1969 7 months ago
I have to keep posting this - if you live in a closed /semi closed primary state , you MUST register as a Republican in order to vote Ron Paul in the crucial primary election . I suspect RP has a lot of Dem supporters who may be disappointed when they go to the polls if they do not change party affiliations . The closed /SEMI CLOSED states are : AZ, CO, CT,DEL,FL,MA,MD,HI,PA,NY,NE,SD,UT,WV,KY,LA,OK,OR. Let's do our part - don;t let him lose the nomiantion.
doogleandalix 7 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
no sound
schassse 7 months ago
Fucking bad ass
AzidCast 7 months ago
You can buy gold through ETFs like GLD and IAU.
meinside99 7 months ago
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Ron Paul supporters - ronpaulvoterbomb [.] com
systemerror11 7 months ago
The series that surprised US citizens
Search For
"BUSH OBAMA DESTROYED US ARMY"
eliasmouawad 7 months ago
That woman behind Bernanke has a face made for sparring practice
baihbalm 7 months ago
Do you support Ron Paul? Help out and be a part of history! Go check the video on this accounts channel and Join the Revolution!
WeThePeople4RonPaul 7 months ago
The main thing is Do Not forget to register as a Republican so we can vote for him in the primarys otherwise we wont be able to vote for him in the Presidential election !!!
MrChatt360 7 months ago
apparently econ professors from princeton are as stupid as econ professors from harvard
gonadcancervictim 7 months ago
@gonadcancervictim
Yeah, college professors understand the financial system. But I know everything about the banking and financial system because I watched a 2 hour documentary written by someone who either isn't even an economist or who hasn't accomplished anything in the field of economics. I suspend all logic and reasoning when discussing the Federal Reserve. Its controlled by foreigners, unconstitutional, buy out politicians, has no government oversight, is never audited and even killed JFK
SadegoGG 7 months ago
@SadegoGG accomplish in the field of economics???? I don't think denying predictable events are going to happen as accomplishing something in economics
the fact that I had to sit thru keynes lectures and know how much I was paying for some dude to tell me allowing government to throw cash around to their buddies like universities for example was a bad investment, there see that run-on sentence I just accomplished something in the field of economics
gonadcancervictim 7 months ago
@gonadcancervictim
Provide me some documentation of the "Government to throw[ing] cash around to their buddies."
Also, specify what you mean by such a statement, as its too broad to be addressed.
SadegoGG 7 months ago
@SadegoGG start with "15 billion goldman sachs" for searching
gonadcancervictim 6 months ago
@gonadcancervictim
Those are loans, not gifts or free money. The federal reserve is the lender of last resort. That's the purpose of the Federal Reserve.
SadegoGG 6 months ago
i asked my friends if they would buy my 1 troy oz gold bar.
they said I couldnt convince them to even trade them $5 for it.
StanwoodSpartans 7 months ago
The founders would have hung him within the hour.
EMPIRE0FLIES 7 months ago
Ben Bernanke meets his match with Ron Paul.
911jbg 8 months ago
The 'national debt' is no more real than the wizard of oz or santa clause. The joke is on you if you believe it because its nothing more than numbers on a computer, all you have to do is unplug it. The 'debt' is merely a mechanism to enslave a country and was never meant to be paid off fully as its not in any bankers best interest for you to be out of debt. wake up people...
mrpatience2007 8 months ago
@mrpatience2007
What does it matter whether the accounts are stored digitally or physically. By your logic IOUS don't mean shit because you can just burn it. Why are people so ignorant in the field of economics and basic common sense so sure of themselves.
ContemplateYourLife 8 months ago
@ContemplateYourLife
Its because you are discussing economics with people who use absolutely no reasoning or logic when formulating their views on the government and the federal reserve. These people will believe anything that makes them feel off the hook from benefiting society or accomplishing something extraordinary. These people see faults in themselves, and are looking for someone to blame. They do this habitually, and doing so leads them to believe some crazy things.
SadegoGG 7 months ago
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theleemeister 8 months ago 2
You can go anywhere in the world and trade gold for food or services. But you cant walk into a McDonalds here in the U.S. with euros or ruples and get food.
MultiShadow1969 8 months ago
@MultiShadow1969
Wrong. You can go anywhere and trade a car for food, that doesn't make car money. A money has three properties, a store of value, a medium of exchange and a unit of account. Gold is not a unit of account nor is it a medium of exchange in most places, hence it is not money.
ContemplateYourLife 8 months ago
@ContemplateYourLife.. you cannot go anywere and trade a car for food. If someone does not need a car, they will not trade you food for it.
MultiShadow1969 8 months ago
@MultiShadow1969
Are you seriously that dumb to think that no one will trade car for food just because they don't need a car? Money must fulfill three conditions, a unit of account, medium of exchange and a store of value. Gold is not a medium of exchange as it is not widely accepted. McDonalds won't accept gold you dumb piece of shit. It is also not a unit of account, hence it's not money.
ContemplateYourLife 8 months ago
@ContemplateYourLife Thats right, throw out insults because you cant win an argument.. you fucking troll. Yes, If someone has 10,000 cars and your trying to trade them another car for some other commodity, then they will more than likely tell you no.
Here you go with that economic theory bullshit again that got us into this mess in the first place. Gold has been a medium of exchange thru out multiple times in history, what makes you think it couldn't be again?
MultiShadow1969 8 months ago
@MultiShadow1969
I throw out insults because you're a joke. Your arguments are a joke, using strawman arguments such as postulating people with 10,000 cars. Gold was a medium of exchange in archaic times, it's not now, so it's not money. No one measures the value of items with "gold coins", are we even living in the same universe?
ContemplateYourLife 7 months ago
@ContemplateYourLife No my friend, you are the joke. You offer no real solutions, no real facts, no real information.. just use jargon, heresay, and complicated words, and then turn to ignorant insults when you cannot get your way.
Look at your page, you have one video up and 20 comments of people calling you a troll among other insults. Is that all you have in your life? Spending everyday surfing the internet looking for videos that you can argue and insult people on? A very sad joke indeed.
MultiShadow1969 7 months ago
@ContemplateYourLife Sir I would Like to say this makes no sense the reason no one uses gold to measure prices is because it was outlawed as currency illegal .Look at it Like this a 12 pack of coca-cola was about a dollar 4 or 5 years ago where as now it is about 5 dollars thats not because the price of coca-cola went up thats because the value of the dollar went down..However if gold were used as currency the price of coca-cola would have went down because the value of gold has went up.
MrChatt360 7 months ago
@ContemplateYourLife Hmmm, I wonder why the federal govt keeps gold in reserves then? I wonder why it's being bought buy the ton in China the last few years? The reason is, bc it is money! Gold and silver has already sky rocketed the last couple of years. Wait another 12-24 months, then you'll be wishing you had bought some, instead of holding on to what will become worthless.
aldm1967 7 months ago
@aldm1967
So you're insinuating that because the federal reserve keeps gold, its money? Why are you so disconnected from logic? Point out how the federal reserve's keeping gold means that its money. So what if gold and silver skyrocketed? Apple shares skyrocketed this decade, are their shares money?
ContemplateYourLife 7 months ago
Also, Medium of Exchange - Meaning that people accept it as a form of currency. The only reason we accept and for the dollar is that the government tells us to do so.
Unit of Account - Able to be divided into equal smaller parts of equal value. Gold Coins.
Store of Value- Must be able to be stored and retrieved later at a predictably usable value later. Gold is this even more-so than the dollar. The next time you want to debate, Throwing out insults makes your argument null and void.
MultiShadow1969 8 months ago
@MultiShadow1969
Gold is not money in the United States by current United States law if using technical economic definitions of money. You already discussed the reasoning behind it in your comment.
In fact, if you are NOT using economic definitions of money...gold, paper bills, silver, etc...all are not money. In actuality money is an idea. Its expressed as reward for service rendered. What you are discussing is the expression of service, which is a side effect to the idea of money.
SadegoGG 7 months ago
@SadegoGG Now you are responding to something that was said half a month ago. Gold has been currency for the past 3 or 4 thousand years. It has backed the current paper money, since paper money started off as just receipts from the gold smiths for how much gold they held for you.
In 1971 the U.S. was taken off the gold standard by Nixon, and since then we have just been playing with monopoly money, currency no longer backed by gold, silver or any other assets, only backed by debt.
MultiShadow1969 7 months ago
@MultiShadow1969
See, gold isn't money by US law. And monopoly money is not legally money either. Federal Reserve Notes are money. Money is an idea. Whether its a piece of medal or a paper bill.
SadegoGG 7 months ago
@SadegoGG Gold is not "currency" by U.S. Law. Money is anything that is agreed upon as a medium of exchange.
Money can be gold, silver, rice, animal fur, cow chips, severed hands (Congo Free State), as long as people consider it a medium of exchange. For many centuries, gold has been a commodity money, and acted as a standard for most currencies.
Federal Reserve Notes (Fiat Money) are an idea with no intrinsic value, only declared legal tender by the U.S. Government.
MultiShadow1969 7 months ago
@MultiShadow1969
Money is defined as all the currencies in an economy in economics. Gold is not a legal currency in the United States and therefore isn't money by US Law. Bernanke was obviously referring to money in the US. If you wanted to define money at a deeper level you could define money as an idea that manifests as reward for service rendered. In which case the currency you receive is a side effect of money, thus gold still wouldn't be money.
SadegoGG 7 months ago
@MultiShadow1969
Bernanke knows about the gold standard and the history of gold/silver being used as money. To argue he had no knowledge of it would be ridiculous. If you use any degree of thinking and logic it is painfully obvious Bernanke was using the economic definition of money as pertaining to United States law. Its obvious the United States isn't a country where you go to the store and barter...instead you use paper money, etc...(but not gold) as a medium of exchange in the US.
SadegoGG 7 months ago
@SadegoGG Im not arguing that Bernanke has no previous knowledge of gold and silver, or as to what constitutes as money. Im arguing that he is DENYING his previous knowledge of gold and silver, since you cannot say gold is money, but you also cannot say gold is not money.
The gold standard was previously used in the U.S. and all over the world until 1971, when the U.S. enacted a fiat monetary system. Gold is still a medium of exchange in many parts of the world, but US CURRENCY is the dollar.
MultiShadow1969 7 months ago
@SadegoGG we need to get back to an age where our money is backed by gold along with a group of other assets and commodities, so that our currency and inflation begins to regulate itself. Gold has varied little in value over the past century, only the dollar has been devalued.
Before you can change our currency system however, you need a much more transparent government.. so that the same monopoly that is in place now, does not get implemented again.. this time backed by real assets.
MultiShadow1969 7 months ago
@MultiShadow1969
Those are all opinions, and I am really not interested in discussing opinions. However, there are some problems with going back to a gold backed currency. Let me give you a little history lesson:
In the early 1970s, inflation caused by rising prices for imported commodities, especially oil, and spending on the Vietnam War, which was not counteracted by cuts in other government expenditures,
SadegoGG 7 months ago
@MultiShadow1969
combined with a trade deficit to create a situation in which the dollar was worth less than the gold used to back it.
In 1972, the United States reset the value to 38 dollars per troy ounce (122.17 ¢/g) of gold. Because other currencies were valued in terms of the U.S. dollar, this failed to resolve the disequilibrium between the U.S. dollar and other currencies. In 1975 the United States began to float the dollar with respect to both gold and other currencies.
SadegoGG 7 months ago
@MultiShadow1969
With this the United States was, for the first time, on a fully fiat currency.
In economics, fiat currency or fiat money is money that enjoys legal tender status derived from a declaratory fiat or an authoritative order of the government. It is often associated with paper money because, without government fiat, bank notes are not a legal tender in payment of debt, and only specie is unlimited legal tender for money debts.
SadegoGG 7 months ago
@MultiShadow1969
However this is not universally true, as some currencies, notably sterling issued by Scottish banks, is not legal tender but is accepted by longstanding confidence in the Scottish banking system.
A bank of issue whose notes enjoy legal tender status by government fiat can use its own notes, making their redemption in specie optional — a matter of the 'monetary policy' of the bank in question.
SadegoGG 7 months ago
@MultiShadow1969
Historically, the institution of fiat currency has preceded and enabled the demonetisation of specie, via a monetary policy decision not to offer payment in specie at par, e.g. by suspension, devaluation or redemption in bullion or foreign currency instead. Eventually this leads to no form of payment, redemption or exchange whatsoever being offered by the issuer and a system of irredeemable freely floating national currencies.
SadegoGG 7 months ago
@MultiShadow1969
In September 2004, it was estimated that if all the gold held by the U.S. government (261.7 million ounces = 8 140 Mg) were again required to back the circulating U.S. currency ($733,170,953,704), gold would need to be valued at $2,800/ounce (90 $/g).
This obviously is implausible.
SadegoGG 7 months ago
Money - A medium that can be exchanged for goods and services and is used as a measure of their values on the market. Gold Standard - A monetary standard under which the basic unit of currency is equal in value to and exchangeable for a specified amount of gold.
It's hilarious all these people trying to defend Bernanke by saying gold is an "asset", "commodity", or "precious metal" lol. It's also 79 protons and neutrons.
MultiShadow1969 8 months ago
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express375 8 months ago
Ron Paul: Why dont they hold diamonds? POW! that was a smack in the face for Bernank!
ns277 8 months ago
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He has never voted to raise taxes.
He has never voted for an unbalanced budget.
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He has never voted to increase the power of the executive branch.
He voted against the Patriot Act.
He voted against the Iraq War.
He returns a portion of his annual congressional office budget to the U.S. Treasury every year.
1XMarksSpot 8 months ago
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1XMarksSpot 8 months ago
Ron Paul took it easy on the Bernank. Ron Paul should be leading the United States.. I've not lived in the US for almost 3 years now.. I really can't believe what a mess the US is at the moment. Gold is not money? Look up hyper inflation.
gmichaelz 8 months ago
If US Dollar reverses back to gold standard the price of gold will be $40,000 per 1oz. I am not an economics pundit, but that's what I've heard. Is that true?
MeccaEen 8 months ago
@MeccaEen That may be true no one knows for sure but You can't eat gold, or silver or dollars. The smart money is on food no? Bypass the middle man and stock up on things gold would buy. As for a currency hedge I think silver is easier to do. More affordable and more spendable.
rachelabombdotcom 8 months ago
@MeccaEen With the current money supply an ounce of gold would be worth around $15,000. You just divide the total money in circulation with the total gold available. That's what the gold price did in the 80s.
Now of course the "easing" will increase the supply of money dramatically and then only the sky is the limit.
rustyrusky 8 months ago
@MeccaEen I've heard that in order to back all the dollars in ciculation would probably put the price around $20,000 at the most. Of course, that number could be off. Also, if they create more dollars in the meantime, the sky's the limit.
UponInfinity 6 months ago
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Warhorse46 8 months ago
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SunKing4Life 8 months ago
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1369damon 8 months ago
Finally, Ron Paul got the perfect reply, the one we've all been waiting for!
AlecTaylor6 8 months ago
Hahahaha Ron Paul is so stupid. I loved Bernanke's face when he asked if he thought gold was money..."Uh.No...it's...not money..it's actually a precious metal..."
aoganisi 8 months ago
@aoganisi You are being facetious right? You must be making fun of the absurdity of Bernanke's response.
YHWHisSovereign 8 months ago
@YHWHisSovereign Not really being sarcastic. There are plenty of other valuable assets who's demand has historically never been zero or below. Paul asked why not diamonds? In my opinion, diamonds are as good as gold. The only reason we hold gold is because it's a country-independent unit of exchange, expands the perception of credit worthiness, and hedges against cyclical downturns. Diamonds do all of these things also. We use gold simply out of historical tradition (which has waned, i might add
aoganisi 8 months ago
@aoganisi Yea, just like bell bottoms and long hair that shit isn't coming round again.....oh....wait....bad example.
SneakySockPuppet 7 months ago
he better watch or the plunge protection team is going to knock gold down hard
partyhouse88 8 months ago
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TheENTERRAPTURE17 8 months ago
BAM!!!! GO RON PAUL. Bernake just got SCHOOLED!
rollertider 8 months ago 14
If you're new to Ron Paul and don't understand what he's talking about with monitary policy (like me once upon a time) google "hmscoop.com". Real quick easily understandable overview.
TomH364 8 months ago
@DarkstarNV It is according to the US constitution.
4clearsky 8 months ago 3
if its not money then why put $50 on the american gold eagle you fucking dipshit??? why not just put a picture of your asshole on gold coins and call it ART? WE ARE IN HELL!
cabtrom 8 months ago 3
@cabtrom you got him square it the balls...ouch!
4clearsky 8 months ago 3
I DRINK YOUR MILKSHAKE!!
ItsaUFOduh 8 months ago
BS!!! The reason the federal reserve was created was to destroy America and give all the power to the worlds elites. The "tradition" Bernanke talks about was started with the Federal Reserve Act and the Federal Reserve. Plain and simple! That was 98 years ago, not 235 years ago when OUR American Tradition was started. Plain and simple! Period!
GiveMeLiberty2 8 months ago
@GiveMeLiberty2 the tradition in that little sac of jew gold he wears around his neck. hahahhahahhahahhahahahha.
brittanyroseirene 8 months ago
Its tradition..what a load of crap..
acwaiter 8 months ago
GOLD IS MONEY
drey983 8 months ago 6
LOL
You're bragging that BUKAKE "made money" on interest from money that he printed.
Give me a printing press. I'll make some money too.
Idiot
AnosmicJoe999 8 months ago
This is scary. I am hoping that Dr Paul gets a good running mate and is our next president.Just think if the gold is gone and oil prices turn out to be just another bubble. I still can't get my mind around how and why these politicians are allowed to run our government and determine the fate of the masses. They have always lied and are misleading with every breath. They even write in ways that make it impossible to determine what is trying to be accomplished.Politicians have sold this country!
miceli2008 8 months ago 2
Bernanke is a tool for the J Bankers
dragons1037 8 months ago
lol Ben looks like he needs a hug after that!!!! Ron should ask him, "how do my nuts taste?" the next time he sees them.
dontblameme100 8 months ago 3
HA! Bernanke is PISSED, look at him grinding his teeth at the end. Get 'em, Ron!!!
rockhuddy 8 months ago 3
bitch slapped by RON PAUL !
pinemontgo 8 months ago 4
Tail risk? The tail is nigh.
thetimman00 8 months ago
Ron Paul moneybomb! Ready Ames Fire! July 19th! wwwdotronpaul2012dotcom
honkycabbit 8 months ago
This guy is SOULESS
SeriousBeatsTLV 8 months ago
It's official: BERNANKE is a idiot...
Sellyass 8 months ago 4
Bernanky is done
kjia006 8 months ago
Bankers, Politicians and Wall Street; they are responsible for our economic situation and national debt.
TheWildbill242 8 months ago
I'll just say it. Bernanke is a walking, talking, breathing piece of Shit. Whos oxygen supply should be cut off.
hotheadedjoelhaha 8 months ago
I want to traditionally put my boot up his ass!
deadrepublicantv 8 months ago
@deadrepublicantv That would be a nice tradition to start! I'd even go out and buy a brand spankn' new pair of boots and spit shine them!!
GiveMeLiberty2 8 months ago
Does Our own Government And the Fed. Really think the people of this Country are That Freaking STUPID? I mean, these are like little Kindergarden Games they are playing. With Our Lives! End The Fed., It is Not Needed!
hotheadedjoelhaha 8 months ago
Have Never seen Anyone outright LIE with such a straight face. He is the Best LIAR that I have Ever seen. And He runs this Country!(for those who didnt know).
hotheadedjoelhaha 8 months ago
R Paul just wiped the fucking floor with this douche.
Do us a favor Ben and take a short jump off a tall building.
MonsieurLeProf 8 months ago
This is how rich, thieving, liars look.
gll006 8 months ago
Bennie and The Federal Reserve cause the bubbles and the panics. Listen to his voice and look at his face - Ben Bernanke is a LIAR and a THIEF.
iannetta11 8 months ago
HAHAHA Bernanke you idiot haha.
TheMineTech 8 months ago
It is tradition! A BANKER tradition to hoard money and lend out DEBT NOTES!
minimario03 8 months ago 9
Thank you for sharing this video.
msa0709 8 months ago
Bernanke is pure evil. I love Ron Paul!
clarkisabeast 8 months ago
WOW, look at Bernanke's expression at the end, ohhhh he was pissed off at Ron Paul for asking him that question!
barbsinclair 8 months ago 2
I would like to get my hands on Bernanke's JEW GOLD!!
brittanyroseirene 8 months ago
...... I Told You So. Keep on Stacking Silver and Gold Bullion !!! The helicopter is about to get shot down !
TheSilverWatch 8 months ago
Bernanke is a piece of SHIT!!
brittanyroseirene 8 months ago
Wow! But he did say also that he diddent believe treasury bills were money either.
ronatonous 8 months ago
Hahaha! RP nailed that fag. I'm so disapppointed he's retiring.
At least when the whole mess blows up completely RP will be able to say a big "I told you so" to these idiots.
That's assuming that they haven't been lynched of course or they didn't take their personal reserves of gold bought with stolen dollars and slink off to S. America or some obscure hiding place.
SneakySockPuppet 8 months ago
WOW, he got his ass handed to him!
Ellipsis10 8 months ago
Even World of Warcraft knows gold is money.
r4nge 8 months ago 3
I don't agree with the Gold Standard - because the power shifts to unregulated gold brokers who would have the power to bring down governments at their whim
I don't agree with a rouge Central Bank such as the FED it is better to have a central Bank and currency like the ECB and Euro where the currency is backed by a basket of goods and services as well as gold and silver.
But
You got to love seeing Ron Paul grilling Bernanke!
infokemp 8 months ago
gold is money and nothing else.
cankorgbr 8 months ago
@cankorgbr Yes, this is true for GOLD and GOLD alone. Silver on the other hand is Money and the ONLY INDUSTRIAL PRECIOUS METAL...PERIOD, SO SILVER IS MORE VALUABLE THAT GOLD...PERIOD
If you don't believe me check out the "11 Silver Factors" video on my channel...PEACE OUT
snake13x 8 months ago
Comment removed
1369damon 8 months ago
@snake13x just dumb. silver is a "commodity" which is clear by the fact that it gets used.. Gold is unprintable money. Silver follows stocks, oil, et all.. gold protects from a race to the bottom with all currency. want proof... silver was almost 50 bucks a couple months ago. Silver 23% below high. Gold making new highs. want more proof.. 2008. silver goes to $8 gold rises 8%. I agree with the ben comments, this one however has no depth or understanding of deflationary pressure.
1369damon 8 months ago
if not tradition why else do banks hold cash?
kovelev 8 months ago
Tradition! That's all it is, eh Bernank? The Bernank is either criminally stupid or criminally evil. I doubt he's really that stupid.
magichandpuppet 8 months ago 40
@magichandpuppet He's not that stupid which means he's lying... or should I say withholding the truth.
ryanhanley13 8 months ago
@magichandpuppet idiot
stebpete 8 months ago
@magichandpuppet hes smarter than u
stebpete 8 months ago
@stebpete - your parents told me to tell you to go to bed, little boy.
magichandpuppet 8 months ago
@magichandpuppet check the definition of gold, and then tell me what grocery store you can go into and use gold as a means of transaction.
stebpete 7 months ago
@magichandpuppet check the defintiion of money and then tell me which grocery store i can go to and use gold as a means of transaction, u dnt think bernanke knows what gold is? lol, shutup and listen when he talks next time and maybe youll learn somethign isntead of looking for somethign controversial like a diva whore
stebpete 7 months ago
@stebpete - please step in front of a bus....soon
magichandpuppet 7 months ago
@magichandpuppet fuck you, bernanke knows what he's doing. he's right, gold is NOT money, that;s just effing laughable.
socialismisgreat 7 months ago
@socialismisgreat - it's you that is laughable. Socialism? Clearly, you are a lazy, hand-out begging moron. Get a job!
magichandpuppet 7 months ago
@socialismisgreat QE1 QE2, what a success story... keep drinking the kool-aid sheepie
baihbalm 7 months ago
"No State shall enter into any Treaty, Alliance, or Confederation; grant Letters of Marque and Reprisal; coin Money; emit Bills of Credit; make any Thing but gold and silver Coin a Tender in Payment of Debts; pass any Bill of Attainder, ex post facto Law, or Law impairing the Obligation of Contracts, or grant any Title of Nobility."
TheRealSiberD 8 months ago 5
Another resounding win for Ron Paul over Bernanke. The Fed Chairman is out of his freaking mind!
atpatson25 8 months ago 38
Well, this confirms Bernanke is out of his mind.
Iceman78985 8 months ago 3
@Iceman78985 He's not out of his mind, he know's exactly what he's doing. He just plays dumb to keep the game afloat a little longer so his masters can properly prepare.
SneakySockPuppet 8 months ago
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May god have mercy on his soul.
zwohandL 8 months ago
No, The price of gold pretty much reflects you, central banks and the FED. the price of gold on the USD went up $22/oz in 2 hours...sense you started speaking.
scalp340 8 months ago