Ron Paul Hearing 3/17/11: Relationship of Monetary Policy and Rising Prices

[macroman52]

Bernake in his latest statement (Nov 2011) predicted inflation of 2%, didn't he? Just lying I suppose but where is the evidence of mounting infaltion (rise in prices) that Ron Paul sees. I know he expects prices to rise, but he said he had evidence it was happening didn't he? Ron Paul's speeches where he repeats what he read in the Ayn Rand newsletter 30 years ago are tedious.

[danz177]

No one wants to hear the obvious truth, that private citizens should not be allowed to print monopoly money for a country on this planet. Why do we all pretend like this is okay? it's not, it's illegal, no matter which treasonous government officials like the idea. Anyone that has resided over this charade should be publicly trialed for treason as outlined under the constitution.

[2mauthnercells]

thanks for uploading this, really. i do have to register a complaint however: it's completely inaudible.

[TimothyADonaghue]

How come the audio on these things are to low and terrible?

[TheSpliffyTiffy]

Wow, that was actually very interesting to watch. I think I learned more than I was meant to though, haha.. they were very blatant sometimes.

[macroman52]

by the way, if prices go down, some people benefit and some lose. Ever complain about that?

[macroman52]

Saying "inflation means increased money supply" is a puerile play with words. No one cares about increased money unless it increases prices. Just accept the definition that everybody else uses - that's how language works. You use the meaning of words that everybody understands, its more convenient.

[pinug79]

@macroman52 The conventional definition of the term is a large part of the problem. Inflation IS the increase in the money supply. Nobel Laureate economists have argued that it's flatly irresponsible to define inflation as increasing prices. Price inflation is a symptom of general inflation; which is an increase in the money supply. There are other damaging symptoms of general inflation. Acting as if price inflation is the only concern is the result of an obfuscated use of language.

[macroman52]

@pinug79 What matters to most people is if prices are rising, not what we call it. You could say "inflation/increase of the money supply" causes "inflation/iccrease of prices", then you have stated a theory that could be right or wrong. You might have to add something about time lags, and certain conditions and then you are no longer playing a puerile wrod game. Please give the reference to the Nobel Laureates saying is is flatly irresponsible to define inflation as rising rpices.

[pinug79]

@macroman52 "But people today use the term `inflation' to refer to the phenomenon that is an inevitable consequence of inflation, that is the tendency of all prices and wage rates to rise. The result of this deplorable confusion is that there is no term left to signify the cause of this rise in prices and wages."- Ludwig Von Mises. Hayek (the Nobel Laureate) was on board with Mises' view, but Mises was much more quotable :)

[macroman52]

@pinug79 As I suspected. It was not from a noble laureate and not from more than one noble laureate. If you can find a Hayek quote, which I doubt, and give the source to show that you didn't just make it up, you will have one noble prize laurerate making a silly quibble about a definition. And even Mises knew that all prices and wages may not rise even though the money supply increases, if output is increasing, so if he said what you attributed to him, he contradicts himself.

[macroman52]

If i go to the bureau of labor statistics to get the latest inflation figures it says zero inflation for 2008 and 2% for 2010 - doesn't sound like runaway inflation does it?

[TheSpliffyTiffy]

@macroman52 Check out the usinflationcalculator(dot)coms Current Inflation rates. Lol, try out the calculator on the home page. The story tells itself.

[marniespeaks]

where's Peter Schiff?

[optionsupdate]

at 1.05.47 Grant explains the pricing of the bond market, pretty good " the bond market to me is like a badly trained waiter"

[optionsupdate]

6608 views thats excellent

[optionsupdate]

whats the name of the gentleman who starts speaking at approx 12mins

[BrandonJohnMorris]

What's with the audio. Oh yeah I forgot... They lower the audio on Ron Paul's mic because he's the only one in the room that tells the TRUTH.

[nickwoo2]

I was there, I was wearing the black and grey tie in the top at 11 min. It was pretty cool being there on st patrick's day.

[ldhemmele]

no audio



[margoliesmedia]

the room is empty, but there are 5000+ in the youtube room. ;)

[Jdmnzcom]

Wow, 5000+ Youtube hits in 6 days for a 1 1/2 hour Congressional hearing. Non attendees to this hearing obviously seriously underestimate the draw of Dr. Ron Paul and his access to the best brains in economics today. We, the 5000 (+), on the other hand, are listening.

[Fike2308]

@Jdmnzcom Excellent observation.

[Toddzilla1337]

The funny thing is, World of Warcraft runs perfectly fine on a free market economy.....how can a few videogame developers know how to manage an economy better than our entire United States Government?

[frmkt]

What a goddamn shame. Ron Paul is trying his best to get the people to understand our fundamental problems and no one wants to listen to him. We get why the 3 branches of government ignore him but for the American people to do the same is just gut wrenching. They deserve the lifestyle that they live in today and tomorrow. Thank you for your efforts Dr. Paul; some of us are listening and have adjusted our lifestyles accordingly.

[ILovelisanova]

the chamber is empty, so disappointing

[StrafingMoose]

thanks for the upload, but WTF why are most Ron Paul videos have a crap sound ? Smells like cenorrship

[cengime]

@StrafingMoose This is the quality that Congress releases videos of committee hearings in. To complain, go to the House of Representatives web site and click "Contact Webmaster". You might also want to contact C-SPAN and say you'd appreciate it if they broadcast Ron Paul's hearings, since they generally don't have problems like this.

[MisterSilverBug]

Inflation not only robs the savers, it manipulates the business cycle and fools the businessman and working families. Artificial boom leads to an inevitable bust.

[jfmitchell1]

L. von Mises smiles!

[ILovelisanova]

if anyone has a link to this with better audio please send it to me. thanks

[PrudenceWright]

@ILovelisanova move the balance on your speakers all the way to the left.

[4xtech]

Well, I do not see my congressman in attendance! Oh yea, it was his turn to work on the printing presses at the FED today!

[MisterSilverBug]

@4xtech hahaha, technology has created digital currency, not worth the paper it's NOT printed on

[hyylo]

people across the world need to wake up.

muslims, christians, jews, hindus, sikhs and all the other religions need to wake up. the central banks are causing the economic problems by printing the money and funding wars.

we need the people to unite and shut down these evil central bankers

[4realestate2]

Let us talk about how much the federal reserve has made with QE1 and QE2, the last 2 years.........It has benefited, their owners and wall street buddies not main street..

[U2GuitarTutorials]

The Federal Reserve and it's powerful banking cartel is the problem. Too big to fail it the problem. The Fed bailed out it's sister banks, and the people got screwed. We need a break up of the banks and our government should get back the control of the money supply. Congress screwed up in 1913 when they let the bankers convince them that they should form the Fed. Banks have it easy charging interest on printed money. The losers are the poor and middle class. Inflation is a tax.

[bizwiz21]

Thank God Ron Paul is in a position of power now, to bring these great minds together is a great service.

[blackswanflea]

Thank you very much, sir. It is the minority that is usually right first.

[CurtHowland]

Ok, how come EVERY OTHER CONGRESSIONAL HEARING has PERFECT SOUND, but this one has terrible sound?

This is the kind of stuff that creates well-documented conspiracy theories.

[CurtHowland]

One would think that Democrats would learn that storming out in disgust isn't a productive way to show their maturity and conviction.

But it is the most funny way to show it.

[decapitatespammers]

Pay particular attention to 55:00+ explanations of the false reporting of inflation. Be very clear: inflation is our greatest root enemy. It is a sinisterly effective method of theft. And it is 100% the gameplan of macro financial planning. All of the past fiscal crimes, and present - and FUTURE! - ones are going to paid by INFLATION.

As the proverbial "they" see it, it's the only way out. They know they cannot be prosecuted for committing inflation.

We must prohibit this crime of inflation.

[Leftovervictim1991]

Reclaim our Republic! Ron Paul 2012!!

[neely217]

Where the fuck is everyone? The only person in congress that already under stands this shit is the only one listening (Ron Paul). This just goes to show that the tyrannical bastards that have taken our freedoms, liberties, and national sovereignty away from the people and given them to the wall street banksters and large corruptorations. You have to be a fucking idiot not to see what is going on. I am a product of public education I understand that inflating the money supply creates high prices

[CurtHowland]

@neely217 It does prove one thing, if nothing else: They already know the damage that is being done, they refuse to sit there and listen to it being held up before their faces.

[junior00bacon00chee]

@neely217

you know what? i am constantly stressed and angry about the things that are going on, but your comment just relieved all of that to some extent. thank you, you have afforded me a much needed breath of fresh air. of course you are spot fucking on.

[Cryptologist101]

@neely217 neely, I hear you man! Very important to remember that increasing the paper money supply only appears to make prices go up, when in actuality it is the buying power of the dollar that has gone down this is an important distinction because when people talk about rising prices they don't blame the cause they tend to place blame on the individual merchant and industries demonizing them instead of the Fed that is causing the inflation.

[veradinx]

@neely217 - They're too busy raiding the government stores for potassium iodide while telling everyone else not to buy it and not to worry.

[Lost8Wizard]

@neely217

"Where the fuck is everyone?"

Other congressman? They are running around getting their pockets stuffed by lobbyists.

[swizzlecheeks]

@neely217

Its pretty much known, that most, not all, Politicians are clueless, narcissistic, sold out, shoe lickers. They refuse to listen to truth. BUT!! Whats Most Important!!! WE THE PEOPLE ARE LISTENING!!! Watch out corrupt government!!!

For insight into the world's economic mess, see Daily Bell. com

[swizzlecheeks]

Key fundamental observation through Austrian Economics. Prices of commodities and goods and services do not go up , known as inflation in Keynesian Economics. What actually happens is that the Value of the currency goes down!!!! This is known as depreciation of value. See Zimbabwe, Argentina, Weinmar Republic post WWI...Inflating money is the last ditch action of governments before total economic collapse. In other words, don't walk, run like hell, away from Fiat Currency. Competing Currencies!

[mschlo]

@neely217 as long as he's still making his points, I don't care WHO is there. The Bernanke is going to have to flee like Gaddaffi soon...love it!

[mschlo]

@neely217 as long as he's still making his points, I don't care WHO is there. The Bernanke is going to have to flee like the little bitch (not little) he is.

Why can't they fix the sound? Is it me or does it seem like only Ron Paul has these sound issues while on the floor - like "don't listen"...lame. Good call not showing up you cowards!

[slhines7]

No sound?

[cengime]

@slhines7 Play it at maximum volume.

[slhines7]

@cengime I tried that, but no dice?

[PrudenceWright]

@slhines7 move your balance on your speakers all the way to the left.

[slhines7]

@cengime I tried and still did not work. It is probably just my crappy Dell laptop?

[cengime]

@slhines7 The sound on this video is really quiet to begin with. If the volume is as high as it will go and it still isn't audible, I don't know what else you can do other than hook up some separate speakers.

[Nielsio]

Move your audio balance completely to one side if you don't want your brain to implode. Thumb up to others can see.

[Daniel44125]

@Nielsio Thanks man