Nouriel Roubini turns James Rickard's Currency War into a Twitter War: Gold vs. Paper!

[rmondave]

Roubini is wrong. How can a precious metal cause a recession? It is the dopey government who more often than not steps in to "control" the markets and really Fs things up...

Roubini you are too academic!

[rosewood223]

If Keynesian Economics is really true Economics, we would not have such problems in the world!!!

[rosewood223]

Roubini is wrong

[justintempler]

Roubini NYT Krugman NYT propaganda

[beretboy22]

So Nouriel Roubini doesn't get it but this douchbag does? Yeah...Right

[joepeeler34]

@beretboy22 Roubini's entire argument was an appeal to alleges authority. Citing a man in Bernanke who has been nuclear-grade wrong on every major economic event since his time in D.C. is more than a little bit laughable.

Try reading through some of the work of Rothbard, Hayek, Mises, Rickards, et al. before you dismiss them out of hand. They were generally right in their long-term predictions. The Keynesians and to a lesser degree the monetarists have been wrong in their predictions.

[crumcon]

if the FED could print wealth out of thin air without producing something, why can´t i print the dollar out of thin air as well?

oh wait, since when printing paper is considering as wealth? yea, since one super power could bitch slap someone with military power

[VTAcraft]

I really wish they'd replace this woman.

[k31rifleman]

Rubini...buddy...pal...putz...­...start by reading rickards' book..

[KonaChuck22]

@ferroxian. What do you mean "there is not enough gold". Of course there is enough gold to back the worlds paper money supply. But not at its current price level. The price level of gold while have to increase several times to account for all the paper money in circulation.

[ferroxian]

@KonaChuck22 There are too many dollars! Just picking up the standard and subjecting the financial systems to the change will take most of a decade. I know you perceive things are bad now...there are not any monetary controls for a change of this magnitude. Then, from your post " back the worlds currency" we would have to soak up currency, fiat money, that would leave world economies at monetary levels last seen in late 1960, early 1970s. We need more gold and new tools for investment also!

[ferroxian]

@KonaChuck22 Please check some of my other comments: they are still on page two, thanks.

[DforDIckhead2100]

Put a sock in it, silly RT/kremlin cunt. I've seen roadkill that looked better than you. Smarter too.

[RTProducer]

@DforDIckhead2100 that's nice. Glad to see you are a happy camper and that you enjoy the show.

[EMPIRE0FLIES]

Roubini has always been a shill who uses big words to distract and confuse. When he loses a debate, he attacks. Roubini is not an economist. He is an elitist tool and a jackass.

[dynomike1964]

MARC FARBER IS dr DOOM

[FXSwissTrader]

Lauren is so damn HOT!

[chena3]

first rule of zero hedge....

..

do not talk about zero hedge

[cilcannonvryce]

DEBT FREE MONEY IS THE ONLY SOLUTION. I can only laugh at this.

[sheepOG]

This is Roubbish.

[remoney]

Dimitry is sexy

[kevinz1985]

"Keynes & Bernanke are great minds"

lol. That made me laugh.

[6of6]

Lauren is of the Twitter generation? I thought for sure she'd be from the Geocities or LiveJournal generation. Oh well, she's still cute

[ignas777]

month later they gona "accidentaly" research gold transmutation. china will be left with all that worthless gold lol

[reashot]

only a twit use a twitter hence the name

[Xather15]

FUCK Twitter!

[hookah604]

You can say anything about gold, but when the government fails to control money right, than people will use alternative currencies and on of it traditionally is gold.

[SilencerRPMs]

lol. I would love to see Peter Schiff vs Roubini

[sparx832]

Roubini is spewing utter nonsense.

[nanciqwerty]

"Bernanke, an expert on the great depression"!!!!!!!

ROF LMFAO

[McamelyneII]

Roubini is right, the price of gold would have to go to $7,500. That would be hugely inflationary and offer no benefit. If gold gets to $7,500 then maybe.

[quietlike]

@McamelyneII Probably higher. it would expose the fraud that is the US Dollar. No it wouldnt be good for the US, short term. But we wouldn't be debt slaves to central bankers either. That's not what Roubini is saying, he's saying a gold standard itself is the problem, totally ignoring the fact that the FED and govt have overspent and put massive amounts of dollars into our money supply - THAT is the problem, not gold.

[ferroxian]

@quietlike If your Fed had done nothing...NOTHING at ALL, after Mr. Bush left office, right now, you would be seeing the US where Italy is..but with a bit more of a life line because you DO have a Fed that can set central command money policy...Europe does NOT have this and they suffer for it. As it is, the US will come out of this recession a lot better off than europe or a US that had done nothing, as Japan did in the late 1980s thru 2000.

[ferroxian]

@quietlike Respectfully: The US Dollar is NOT a fraud. If it were when the toxic assets on wall street triggered the econo meltdown, the Fed and everyone else in the US would have had half the tools to fight with that they had...the Fed printed more money...under the Euro, no state has that power! Print more money is a short term solution to liquidity issues, US Banks ARE liquid. So now the US can soak-up the excess. Europe WISHES it had the US's problems...and potential!

[McamelyneII]

@quietlike - There is an unsaid argument and that is that if there is a gold standard, then the US must have tangible gold. I am like Ron Paul, I don't believe the gold exists in the US in the quantity that they say. Much of the gold that the US has is owned by someone else. If we move to a gold standard, it will cause countries to change their behavior and try to accumulate gold. We will move back to the previous paradigm of empires. How many countries will want Iria Jaya? It will be war.

[frontier1701]

Lets see... Roubini barely speaks english and has been dead wrong for years OR Rickards who speaks english and has been dead right for years.... Which to pick??? I'm going with the english speaking guy who has been right for 20+ years...

[badaboomrock]

So that when they take all the money back it cause a crash and can buy up everything for nothing. The only difference is it is harder to do with gold because you can’t just print it there is only so much of it around.

[badaboomrock]

It boils down to value and quantity does not matter gold, silver, or paper basically the quantity is what dictate value it is the same with anything as long as you let the market decide and not banks. Banks try to control the economy through quantity, like say banks flood the market with lots of money and cheap credit witch lowers the value of the money.

[dispersingweight]

Rickards will own everyone. Case closed, let us expose the next idiot.

[MarsHasLife]

Every Country has it's values to dominate space, forget currency because we are one with technology now in 2011 and any country has power to change the world in a click of the finger. Enough said.

[ZoneTelevision]

BF3

[bluesgurugod]

GOLD IS NOT MONEY!!!

printed green paper with illuminati pyramids and eyeballs is money... at least according to Greenspan et al...

[MsSmoopy]

@bluesgurugod If gold is not money then why do central banks hold it?

[SPQRomantic]

@MsSmoopy Tradition ;).

[MsSmoopy]

@SPQRomantic hehe, well spotted, good old Bernanke.

[frankknopers]

@bluesgurugod You are wrong. Exactly Greenspan was the guy who was saying ''gold is money and nothing else''!!

[tomaurora1]

Si sta cercando di tirare in campo le riserve AUREE DEGLI STATI ?

[1977Melville]

Roubini picked a fight with zero hedge?! What the hell is this guy's problem?!

[1977Melville]

I'd be reluctant to lock horns with Rickards.

[SaneBoomer]

I've held in my hand a Roman gold coin that in 1981 was worth 10,000 dollars. Case closed.

[SaneBoomer]

Say WHAT? The Gold standard caused WHAT? The great depression? With this outburst of ego, Roubini is among Rickard's first trophy-casualties. Roubini clearly does not understand gold's monetization, a word that should not even exist. Gold IS money, has always been money, we should not even be discussing gold in the twilight zone framework of gold becoming money. Count Roubini is an academic who misses it. There only ever is one global currency and officially or not, its backed by gold.

[ferroxian]

@SaneBoomer

Yes, Gold IS money, BUT Gold is not currency! If you rechained the economic horses of the world to a gold'wagon, be prepared to NOT manage economies anywhere near the way it is done now. Just the wrenching change alone would kill economies for decades to come. I need more room to respond to you, but, in this short space, consider: When U turn on your TV and the powers say Gold is 1800 dollars per ounce, that is NOT the power or value of gold intrinsic that's speculation. AT pres...

[quietlike]

@ferroxian gold at 1800 IS gold's store of value. The price is high because the supply of dollars to cover the supply of gold is so far out of wack. We should be at 10k gold right now based on current money supply.. AND we know QE3 is on the way along with the ECB printing.

Gold only isnt a currency because govts have outlawed it through legal tender laws, which also gives the central banks monopolies over the money power. Which is why gold is superior

[ferroxian]

@quietlike Gold faces enormous speculative and 'fear factor' value, or else, it would go UP and not go down because it is NOT consumed with the commonality of fiat money. Gold is MONEY but NOT currency and that is what I meant when I wrote that. Gold does not face inflationary pressure from consumption or IMF or anything like that but speculative pressures. If you move money into the economic fast lane by trying to back multiplied Trillions of Dollars of transactions, there is NOT enough Gold.

[ferroxian]

@SaneBoome

.. ent, for example, the total debt of national economies ALL nations, is running close to 62-82 percent of the planetary GDP...to also back the currencies in use to perform stock activity to back loans, etc, etc, etc...we would have to 1) Water down the value of Gold to match currency or 2) PULL dollars off the market back to funding levels last seen about thirty years ago. Economic growth would have to slow and be pegged to the availability of unspeculated Gold we would need years,

[ferroxian]

@SaneBoomer

We would have NO incentives to even begin to address pressing global issues due to the staggering demand for gold services but the paucity of the precious metal...we would have to drill all the way to the core of this planet where 98% of all the gold is to keep everything just as bad as it could get. We do not HAVE enough GOLD. We would also need to use rare earths and other precious metals...because we use these materials broadly..something new, economically would have to be...

[ferroxian]

@SaneBoomer ...invented; A way to keep value on precious and rare materials even though they are in the catalytic converters of our cars, the motors and engines of our airplanes and locomotives. Ultimately, the demand for these materials would lead us back to where we were before we went back to the gold standard: Inflation & speculation would heat pricing! Controls: which we do NOT have.We would have to make these new rules under the Aegis of a Super-Super-Power 2 impose order No free MARKETS!

[megamogx]

Chemist Explains Why Precious Metals Are Money

/watch?v=r-o79vfBDJ4

[megamogx]

Fiat currency's will collapse, get your silver now well it is cheap....

[ringofedwin]

@megamogx silver just fell like 2 to 3 dollars

[MyTube22T]

Nouriel Roubini is FU*** Zionist part of the problem not the solution. He should be ignored and dismissed as another scum bag spreading disinformation.

[jdouglasfisher]

If this becomes a new segment in the show, I can see this quickly becoming a daily segment...

Screw reality tv, I just need my daily dose of TWITTER WARS....

This was creative and fun guys, good job...

[robertplant634]

c'mon every RT viewer knows that the banksters want a return to the gold standard.

[mastaPh]

@robertplant634 Why would the bankers want a gold standard? A gold standard means that they wont be able to create money out of thin air and then lend it out.

[robertplant634]

@mastaPh sure they can. the price of gold can very easily be manipulated. the level of backing can readily be changed as well. bringing in a gold standard could be used to reduce the money supply is well, if desired. the majority of the money supply is created by private banks, through fractional reserve lending, not through central banks printing bank notes and putting zeros on computer screens.

[YouBeMadlol]

New series? Might as well be called Nouriel's idiotic Twitter statements. He'll be in most of these segments I'm sure not that he won't be put in his place everytime.

[jose13666]

Lauren is the winner

[rr7110]

I kept wanting to pick that piece of lint off of the left side of her blouse...some lucky dude producer must have gotten it while she was off camera...