If you are angry at the media, for ignoring Ron Paul and the American people, let them know. If your sick of the crap interviews with crap questions directed at Ron Paul, let them know.
And from 18-63-1913, The nation Banks were still operating under a "free banking" system, which showed to be positive, then the FED came around. The free banking system CAN be successful, IF managed properly. The free banking system from 1937 and ON, was not quite successful, because they were still regulated, and that is a problem. And, also because of the lack of branch banking, which caused a roadblock in the growth of the free banking system.
The Fed lent money that it has created out of thin air. They grossly expanded the monetary base, which has led to much higher inflation rates than the "official" government numbers. The issue isn't over whether the money was spent or lent out, but rather that the fed was using money that it "created" just for this purpose.
I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO, GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE. BEN BERNANKE!!!
@88888FORCE Indeed. The constitution says states must not accept anything accept gold or silver payments, or am I mistaken? If we were allowed to do this, dollar demand would fall and silver/gold demand would rise. It could potentially destroy the dollar, but what's so bad about that. I hate the dollar. It is an inferior product.
Feb-29-2012-Consumer spending is an important issue, but the congressman is mistaken in saying that the Federal Reserve has spent any money. They have lent money. That's not dissipation of the money. They have got all of the money back.
@88888FORCE No they bought assets like the MBS program. When you buy assets, you must sell them to get the money back. If the value of any MBS they sell back is zero, then you have created money without retrieving it. It has been spent.
I personally think we should have 12 currencies - One for each Federal Reserve District Bank. The government could issue bonds in 12 different currencies. If one area of the country, like wall st, is hurting INFLATE THEIR CURRENCY, NOT MINE.
@wishinifishig - You still do not get my point. POLICE keep records of criminals. History keeps records of wars invasions and overthrowing governments.
USA record is endless. IRAN record is almost non existent and IRAN does not have military bases outside IRAN , IRAN did not bomb threaten to bomb or destroyed any country in 500 years. IF CHINA and RUSSIA are not concerned for IRAN why would USA 8000 miles away.
Ron Paul is to smart for this dumb down nation so every time He speaks He has to teach the masses while informing them at the same time .... watch the YouTube video where Ben doesn't know where half a trillion dollars went its funny watching Ben trying to explain it
@A1980AD - YOU do not get my point , HOW can you run military industrial complex on GOLD standard. HOW can you bail out financial fascists on GOLD standard , HOW can you fund wars fund terrorists and dictators in other countries on GOLD standard. HOW can you transfer real money from Farmers middle class workers to Banks on GOLD standard. Mission Impossible FASCISTS would not be able to do all that on Gold standard.
@aviomaster Ill answer, since this guy isnt going to. You cant. On any of those questions. Once the money (gold) is up, its up. Cant make more to do your bidding. There is an exception. You could always wage wars to take the gold from other nations. That is something I could see us doing to, but without that, gold causes responsability. I read your comments and your spot on
@aviomaster Oops, I actually meant to reply to the guy you were talking to. So let me rephrase. No, we wont be invaded. Its suicide for even the largest armies to invade the US. Any nations economy cant handle modern warfare without making fake money. Most nations are smart enough to realize that you can only make so much. Appearantly, we dont. China isnt a concern. Russia isnt a concern. After that, who is there to be afraid of? Iran? not a chance
"We wont get bombed or invaded, war pigs lie" I know. last time I checked, is the USA not the ONLY country to NUKE another country? Who are the terrorists? Have you guys seen any military bases posted up in your communities? STFU - WARMONGERS!
@aviomaster You are retarded if you believe people would being in a hurry to invade us with our military here at home and not allover the world.. Don't confuse extremist groups we created with a militant invasion.
Our currency is a trap, Its an i-o-u system and what we owe can not be repaid, the debt that we build by paying back our i-o-u's creates immediate debt. and the federal reserve prints the shit like there's no tomorrow creating debt upon debt, This debt affects everyone but a few.
@aviomaster Phasing the fed out and not going to a war in Iran when it would provoke a 3rd world war starring China- the worlds largest military, against us, is the only sane option.
Do you think its better to risk that, than to eliminate counterfeiters that are ruining our currency more and more by the hour, & stop spending more money than we can keep up with on wars in third world countries poorly geared extremist groups that we can't even win?
the Federal Reserve creates currency from nothing, therefore inflating/destroying the currency that I (the common man) hold. So essentially the Fed is stealing the money I'm holding by inflating it. Ben Bernanke = elitist scum who doesn't understand that a dollar isn't money, it's currency. Gold and Silver are money, dollars are fiat(paper/valueless) currency.
Thankyou Mr Bernanke for creating market bubbles and making impossible for any american save money. CREDIT economics and a market that is ruled my debt. Thank you thank you for helping the banks become overwhelmingly rich while making it impossible for middle class people have a good life. Inflation Inflation Inflation haha I laugh at his answer, so making profits off american tax payers money ok where was their Bailout and where is my check from those billions of dollar you made from my taxes
@no1toolmkr I don't know what kind of work you are in, but in 1950 you also would have been paid a lot less "silver" per hour than you would have today, so you would have less "money" to pay for that gas. To say that the price has gone up is the same as to say that the value of cash has gone down. Also even on a silver standard there would be price spikes due to things like war and supply constrictions by the OPEC.
So how did he "school" Ron Paul? Besides his claim that we hold gold reserves out of tradition? The American financial sector is nothing if not nostalgic apparently.
Pauls 2nd question 'is gold money' was one of semantics. Bernanke wasn't caught off guard, he was thinking are you stupid; gold was money now it is an asset (like he said) by which our paper $ is insured. Would you trade a gold bar for a loaf of bread, in Paul's world you would since the Earth has a limited amount of gold. He would divide our national supply among us all and the rich will have more and hoard it, spiking prices for us who spend > % of our $ for survival i.e. food. GO Paul!
@JCrumzz You should actually listen when Paul goes at length into whether he'd go with gold or just sound money. Managing interest the way we do amounts to little less than a price control on money.Look how well that worked for petrol back in the1970s. Also look at any recession andyou'll see they were preceded by monetaryexpansion in the form of a war (war financing pretty much always leads to printing), in the form of central bank expansion, or going on the bimetal system(again, expansionary)
Ron Paul is a Representative not a Senator. Your understanding is sloppy over all. If you can't take enough care to get his title correct how can your analysis be taken very seriously?
Every time there is a war, the country leaves the gold standard up until the Nixon shock whereafter we didn't even pretend anymore. Stop the wars, End the Fed. If you have to print the money to prevent the Friedman deflationary spiral, give it to the poor first, not the banks. Because the banks get free money then (ex. goldman sachs) give money to status quo politicians so they keep getting the money before the prices rise. Then they preserve the shadow that covers the Federal Reserve Act.
Now you might argue "hey wait, paper currency creates an illusion. if there were a gold standard and the politicians said 'let's get off the gold standard' people would notice a lot quicker than the slow, steady increase in the printing of money. I might agree with you there, but if the great masses really understood money, they'd realize it doesn't matter. The true currency lies in the public's ability restrain government.
People will still be defending central planning and interventionism in 10 years when the U.S. is still trying to bailout and borrow money to get out of the now x3 bigger debt.
Gold has been currency for thousands of years for one simple reason, it is a precious metal. Our country was founded (and wrote into the constitution) on the belief that if we back our notes (cash) by a real currency (gold) that inflation would never occur. On Christmas Eve 1913, congress passed a bill that our cash no longer had to be backed by gold, created the FED, and gave the FED the ability to print money out of thin air. Low and behold, less than 20 years later, the great depression hit.
Ron Paul is duuuuumbbbb!!! Gold is just a metal. It has no intrinsic value in and of itself. It is NOT ontologically money. We used to use rum as money in Australia... the gold bugs are just being dumb!!!!! dumb!!!
@brendos444 "Ron Paul is duuuuumbbbb!!! Gold is just a metal. It has no intrinsic value in and of itself. It is NOT ontologically money. We used to use rum as money in Australia... the gold bugs are just being dumb!!!!! dumb!!" Yeah, and money is just paper.
@codyjames01111 sound money, in human history, has only been bound up with gold money. Gold has all the qualities of money: divisibility,portability, high value per unit of weight, durability, and uniform quality.
@brendos444 Purchasing Power in the united States of Gold and Selected Currencies - Gold = over 2.0 Swiss Franc = Just below 1.0 Euro and U.S. Dollar = Below 0.1 Japanese Yen = Slightly above 0.001
Bernanke was schooling Ron Paul so badly that Paul had to interrupt him... Harvard/M.I.T. summa cum laude Ph.D. > radical republican senator from Texas...
@AhNeeshNeesh Lets see.......PhD in Philosophy of Economics vs PhD in Medicine. The PhD in Medicine, is schooling the PhD in "Philosophy" of Economics. LOL- "Gold is Tradition." LOL GTFO. And FYI - Ron, who is a Doctor, was actually mentored by some of the greatest Austrian Economists of the 20th century.
@codyjames01111 It's not like one is schooling the other...these guys are just like the crips and the bloods, or the jedi and the sith, or poseidon and hades...or The 47 Ronin vs. Kira Yoshinaka. It's not that Bernanke is right in the sense that the Federal Reserve policy is what ought to be done, but he would be a force if he were allowed to present the monetarist case against the austrian. this debate couldn't happen in public, but id love to be a fly on the wall
@Andrewm779 I agree with you that this is (and politics, in general) contributes to partisan, restless debates. But the comment I was referring to, was the one about GOLD. When Paul asked B.B. why they keep gold in their reserves. And Ben's reply was, "Its tradition." What does that mean? Could you answer that? And you came off, as to say, that Ron Paul has no business debating with a Harvard Elite, who knows a thing or two about economics.
@Andrewm779 B.B might understand a thing or two, but he definitely is not taking that education, and putting it towards success. He is just taking that education, hurting the economy, and pocketing a shit ton of money. Paul does have a place in this debate, and he does fit in quite well. He understands a system where the FED does not exist. of course Ben is not going to accept anything Paul says. When the economy is in the shit tank,okay,and this man is making loadasof money,what does that say?
@Andrewm779 And how do you explain their dictator ways on interest rates? And printing out billions of dollars, putting that CASH on wooden pallets (creating this money out of thin air), and then shipping it to the middle east, and not explaining anything about it. Saying that they do not need to explain anything. And they got away with that.
@codyjames01111 yeah Cody I didn't mean to make unbalanced support for either one in my comment back to you, but looking at it now I see where I messed up. No, you really just have two guys from two different schools here. I support the Paul side and I have a bachelors in economics from a school that didn't teach anything austrian. I was taught the monetarist view and actually read "the great contraction" by milton friedman which is a really awesome read IF you have to work within the (cont)
@codyjames01111 within the Federal Reserve construct. Bernanke's last job was professor at princeton. He's not some evil bankster, it's just how he was taught. Also, let me say this. As chairman, there really is nothing he could do better other than to stand up and say "We need to abolish the fed." I'm sure he's not a bad guy. If I were chairman I wouldn't have the balls to say "abolish the fed." I'd have to go into witness protection! Besides, its congress's job to repeal or not repeal.
@codyjames01111 In response to the wooden pallets of cash, you must know that more than one person runs the Fed, and beings as how the cash came out of the New York Fed, which is run by William Dudley (formerly Goldman Sachs) I'd be careful about who you point the finger. That money was also Saddam Hussein's money, which he bought and kept an account at the Fed at. When Saddam died, I think we decided to give that money to the Iraq government.
@Andrewm779 I am talking about the wooden pallets that were shipped, AND never reported - Delivered IN CASH. Why in cash? And as to the Why keeping the GOLD in reserves is "tradition" part. Why do they do that? Why is the dollar so low? Do you think it was money printed out from thin air, and why was FDR taking gold and making it illegal to own . If you did own gold, you were fined the equivalent of 400,000 dollars, and serve 20 years in prison. If gold isn't worth anything......
@codyjames01111 If it was never reported, then how do you know about it? link? They keep it in case of financial/governmental armageddon I'm pretty sure, but they also keep it because other central banks around the world keep it in case of armageddon, so the central banks have another medium to trade in. YES THEY PRINT IT OUT OF THIN AIR. But as I said, we gotta pay taxes with it. We gotta gun to our head saying we gotta use it. So we use it. It's a big racketeering scheme.Blame government
@Andrewm779 Obviously we know about it, NOW; It was never reported what the money was being used for. And why was FDR punishing people for keeping gold? Like I said, you would be fined 20,000 dollars - The equivalent of 400,000 dollars in today's money. Then you would also serve time, 20 years - The equivalent of a rapist or murderer. Come on, now. And 20% of our taxes were ONLY used toward funding the war, the other 80% was made by the FED. Once again, creating $ out of thin air = Inflation.
@Andrewm779 For some reason, it wont let me paste the actual link, but if you type in, on youtube, "Ron Paul nails Bernanke in a lie!" That will be your link.
@Andrewm779 And how many of the wars have the FED funded? How many years, since the fed has been in business, have we been in recession? I know the answer to that one, 40. We have been in 40 years worth of recession in the last 100 years. The monetary system does not work. We should listen to Ron Paul, with free markets and sound money. Its worth a shot.
@codyjames01111 As for FDR, he was acting on a misguided and half-baked idea that stealing every body's gold (in return for cash) would cause them to spend more money (because its "less valuable" so they want to trade it quicker) and cure the depression.
@Andrewm779 "As for FDR, he was acting on a misguided and half-baked idea that stealing every body's gold (in return for cash) would cause them to spend more money (because its "less valuable" so they want to trade it quicker) and cure the depression." Roosevelt, actually, took the gold at 20$ / Oz. and promptly revalued it at 35$/Oz. where the citizens lost, and the Govt. Profited.
@Andrewm779 And take a look at Andrew Jackson. is he not the ONLY president to clear the national debt? Was he a firm believer in Gold and Silver? By helping kill the Bank of the United States, he effectively deprived any chance to moderate the Economic Cycle of booms and busts until after the Federal Reserve was.
@Commander034 That's incorrect. The depression was caused by the banks, who were issuing excessive amounts of paper money (unbacked by bullion reserves), which led to inflation. Other factors to the depression, were, large debts incurred by states due to over-expansion of canals and the construction of railroads; an unfavorable balance of trade as imports exceeded exports ; and several crop failures in 1835 and 1837.
@codyjames01111 More causes of the depression were: fractional reserve banking (where we see today, with the FED and modern banking), and state government deficit spending, which dramatically increased the money and credit supply, decreased interest rates, and led to erroneous investment decisions before and up to 1837
@codyjames01111 That's all untrue and uneducated lies. The central bank was destroyed by Jackson so it had no effect. The deficit stopped existing as well under Jackson. What Jackson did do though, was place all the government's money in untrustworthy "pet" banks that had made bad loans and as a result, collapsed. Jackson's specie circular policies had caused a large majority of the population, who only had paper money, to become broke over night.
@Commander034 Gold is stable money. When nations operate under a gold or silver standard they do not have the booms and bust such as you would find with the federal reserve note. Gold standard acts as a check on government deficit spending as it limits the amount of debt that can be issued. A central bank could not create unlimited quantities of money at will, as there is a limited supply of gold. The federal reserve note could have worked if it were not for US government war and global policing
@EnhancedCognition Gold as currency comes from the ancient belief that wealth must be captured. Wealth isn't finite or tied to any market anymore. Wealth is generated through trade and credit. We got off the gold standard because we were making more money than their was gold and thus ran a trade deficit. I don't support the massive printing of money as it goes on now. I believe it needs to be much more regulated and be tied to the banks' credit or something that is generated.
@Commander034 I agree in most respects. Money as it is today has simply been misused and abused to the point that were getting to critical levels of debt and devaluation.
I'm aware that their is a finite amount of gold. But their are other forms of wealth in which could back a congressionaly coined US currency.
We certainly don't have to go through a privately owned bank like the federal reserve who has little to no oversight into their practices.
@EnhancedCognition The Fed is not privately owned. That is a libertarian lie. The bank is owned by the government and is advised by the major banks of the U.S.. If the dollar must be tied to something, it should be like Australia's system of tying it to a large number of things and whatever is expensive at the moment.
@Commander034 Wealth is captured if you capture it right. When you get a piece of land, that is one less thing you have to worry about. It adds to your personal utility. When you dig your own well, you have water security. When you put a windmill up, you have energy security. When you grow your own food, you've got all you need. You are self sufficient and independently wealthy. Money can change in utility to YOU, but these things do not.
@Andrewm779 These things are not wealth. Wealth is something that allows you to trade in the market. The largest creators of wealth are goods and services. They make up much more trade than assets such as gold, stocks, and bonds, could ever do in the market. Wealth is affected by the supply and demands of these goods. Currency will always have inflation, it is an inevitability, as more currency must always enter the market to allow for the buying of these services and goods.
@Andrewm779 In continuation and conclusion, wealth is trading power, and the fact is, you can't trade anything you listed, except as an asset, which is an investment meant to gain currency. They can be traded as goods, but the trading between many business offering them as services is what is generating wealth, much more than those unmoving and concrete assets could.
@Commander034 Hmm?? The banks were issuing more paper money than they had Gold reserves available. It was the poor management of the banks that caused the depression DURING Van Buren's presidency.
@codyjames01111 The banks failed because of bad credit rates and loans, not money circulation. The events and policies that led to the depression were all under Jackson's administration.
@Commander034 I know, the banks caused the depression, because of, like you said, bad loans, and of course, printing more money than could be backed by gold. And you are referring to the speculation, which is that, pure speculation.
@Commander034 There were also a shit ton of banks starting up rapidly, which created a bust as well. It wasn't because of Andrew Jackson's evil plan to shut down the central bank. there were many reasons for the depression. We have a central bank right now, and we are in a depression; because of war, because of this central bank creating money out of thin air, and because of their nutty ass loans that they throw out their like its nothing.
@Commander034 "What Jackson did do though, was place all the government's money in untrustworthy "pet" banks that had made bad loans and as a result, collapsed. Jackson's specie circular policies had caused a large majority of the population, who only had paper money, to become broke over night." So, you are saying it was the mismanagement of the banks?
@Commander034 And why didn't John Tyler re-charter the National bank? And why did Polk WANT to fulfill the "Jacksonian Doctrine?" And why did Polk WANT to be a Jacksonian? And GOLD! -A GOLD RUSH! Manifest Destiny, etc. We did not open a national bank until the National Banking Act of 1863, and the FED in1913, andlook at the mess we are in;40 out of 60 years in a recession! We did see a private custom house, which was corrupt as well.But the FED is corrupt b/c it can subject to predatory lending.
@Andrewm779 If gold isn't worth anything, how come we see all these adds on TV seeing white dudes in suits, collecting gold for money from the american citizens.
@codyjames01111 Because the white dudes are capitalizing on market fears that the government could collapse or that we could experience hyperinflation like in germany. "GOLDLINE" has already been caught defrauding someone, and they used glen beck as their spokesman to trick your old grandma into believing all this. In reality they buy gold on the cheap and sell it to you or granny at a very hefty markup. What's really insulting is when they try to sell you gold certificates and not real gold
@Andrewm779 "They keep it in case of financial/governmental armageddon I'm pretty sure, but they also keep it because other central banks around the world keep it in case of armageddon, so the central banks have another medium to trade in." Is that tradition? Why didn't Ben say that himself?
@Andrewm779 Speaking of Gold Certificates, now the FED is claiming that they do not have gold, that they have gold certificates, instead. I am really confused as to what is going on.
Who could watch this and think Bernanke won the debate? Seriously, Paul has been sending the same good message about sound money and sustainable financial policy out for decades. If you want to see some of the ridiculous financial issues in a more reasonable light, try the documentaries I.O.U.S.A and also The Inside Job
@TheBalancedAmerican The banking system treats mortgages as assets? What do you think MBS are? That's how money gets created. When a loan is made a banks assets increase and his liabilities increase. When the loan is sold, A and L decrease. On the opposite side, when the homeowner sells his house, assets increase by 1 house and liabilities increase by the loan amt, which presumably is about equal to the value of the house.The Fed is quick to overpay for a bankers asset. Homeowner,not equal
@imadizzy1 I guess food, water, shelter, and medicine are the only products that have true intrinsic value. But that is a fairly narrow view of how economies use products. Imo, Gold has intrinsic value because it is a precious metal that is essential in technical manufacturing. Its intrinsic value comes from its use as a material to create useful products. You're right that it has no intrinsic value as a currency, other than tradition. =)
how did he get schooled? he proved that bernanke contradicts himself in his belief that gold is just another commodity while at the same time the government holds a MASSIVE amount of emergency gold.
@singergirlly not quite, friend. bernanke was correct about everything he said, and he's largely responsible for saving the economy. i'm sure you're a ron paul nut...there's a reason your "candidate" never had a chance at winning a single primary or caucus. his mindless simplicity appeals only to fools who share his myopia. have nice day
@alexwilliams2962 You are delusional and no friend of mine...He is a criminal and he will be dealt with one day I can assure you and you know it!! : )
@singergirlly He is not a criminal and you should be careful with your words if you truly support Ron Paul because words like this give his supporters and hence Mr Paul himself a bad name. Bernanke is working within the central bank construct, and given those circumstances he is operating as best as can be done.
@singergirlly The problem is the Federal Reserve ought to be abolished. In my view, only a Central bank with God himself as chairman could perform better than a free banking system.
@alexwilliams2962 Listen, professor. Bernanke saved the economy, you are right, but there may not have been a need for saving had the federal reserve not been there in the first place. Bernanke follows the freidmanite monetarist school, but did you know that friedman only made his monetary policy prescriptions IF there had to be a central bank at all? Friedman said a gold standard could only work if the Govt accounted for 10% of GDP. You know that means less wars, more freedom. Nuts right?
@Andrewm779 dude, don't start this. i'll never understand why lay people think they understand the U.S. economy better than people who've spent a lifetime studying it.
@alexwilliams2962 Do you want to take on Hayek, Von Mises, Milton Friedman to name a few? You cite Paulson (Goldman Sachs =>Conflict of Interest) Krugman (who promotes expansionary fiscal policy, not monetary policy), and 3 guys who served as chair of the board as your champions of Central Banking? I've got Hayek (nobel prize), Von Mises (Hayeks boss), Peter Schiff (predicted housing collapse), Milton Friedman (nobel prize). And you should also know I personally have a degree in Economics.
@alexwilliams2962 The best you could call is a stalemate, but you refuse to even consider theoretically how a world without a central bank could actually work. I have considered both at least and arrived at a very tenable conclusion.
@Andrewm779 of course u can argue that the fed needs more oversight, but elimination? do u really want to take on greenspan and volcker and stiglitz and krugman and paulson and bernanke?
haha....Mr. Bernanke's voice was trembling the entire time. I am not sure if I should thumbs down this video because of the title or thumbs up it because Ron Paul wiped the floor with the Fed.
Where did they get the money for all of these high risk loans? The Fed and their low rate policy. Why did they go for the high risk high interest rate policy? The Fed and their low rate policy made safer investments less attractive. Regulations don't work, they just make things more difficult for the depositor to understand. If a bank collapses, the FDIC can stave off runs, or the Fed can fund the FDIC. With congress printing money for depositors, the money goes to the banks anyways.
I dont really like banks.They have too much power imo. But that said, nothing has stopped the US from becoming the most powerful nation in the world the last hundred years, even if the Fed was there.Sure you can argue about details here and there, but as a whole the Fed has indeed encouraged growth and prosperity. So people can't really say anything bad has happened the last century.The corporate bailout, might be a stretch to some, but as a whole, the US is still the most powerful in the world.
@MrMatthewRice these fucking ron paul people. buddy, there's a reason your "candidate" never had a chance of winning a single primary or caucus. his mindless simplicity appeals only to those dumb enough to share in his myopia
@alexwilliams2962 that's funny, that's the exact same thing you said to someone a few comments back. wow talk about spewing ignorant talking points, your ignorance is second only to your blind willingness to trust a banker. I guess that's why ron Paul still polls second across the country, huh? Because he doesn't have a chance? Yeah ok dumdum, go back to your little dark hole that you crawled out of.
@MrMatthewRice well i repeat myself cuz u people DON'T LISTEN and paul has NO CHANCE. but i'm sure that doesn't matter to u. after all 50 states have voted (without him winning 1) you'll be crying voter fraud and coming up with another idiotic theory about hot he'll be president. btw, how embarrassing is it that he's the only one still in the race that hasn't won yet? haha
@alexwilliams2962 No he doesn't poll last, he polls second only to obama, look up the latest national polls you fucking twit, quit listening to CNN, butt nugget.
@MrMatthewRice friend, get help. of course u can find 1 poll sample that says he's on top. but when u AVERAGE all the polls, he's last and it's been that way for months. but keep living in your alternative universe and listening to alex jones. again, help is only a phone call away. doctors have pills for the kind of delusions u obviously suffer from. oh yeah, and you're a white trash shit stain who doesn't know the first thing about insults. but u r good for a laugh or 3
@alexwilliams2962 blah blah blah, says the guy who can't spell or type with even elementary grammar skills. Fucking cunt, if you're going to insult people at least have the decency to spell you fucking fuppet. You talk like you know every god damn thing there is to know, yet can't even spell, so fuck you, you're mother should have clearly had an abortion.
@MrMatthewRice i didn't misspell anything. i hope you're not referring to my use of "u." (sigh). funny how u didn't address any of my points...and i'd like to see u say that about the abortion with me standing next to u
@alexwilliams2962 Yeah Yeah Yeah blah blah blah "and i'd like to see u say that about the abortion with me standing next to u". Tell you what, you do the investigative work necessary to find me, and I'll be more than happy to tell you about that abortion thing. My name is right here for you to use, so come on and find me, and we'll see how tought you really are. I didn't adress any points you made because clearly you're a twat who wrote a paper in college so you think you know everything.
ya Bernanke says: "we havent spent any money" a second later he says "they made purchases", and that purchase he then says makes an idiot criminal liar saying it was spent on criminal banks and wasting businesses. So the title here is a complete lie since: RON PAUL SCHOOLED BEN BERNANKE. bernanke is a complete tool, the entire fed is a gang of criminals all over the world it's not even american.
If you look at Global Central Banks, mostly, India and China, they are buying up gold stock piles as reserve. 1971 Fiat currency was created globally which unpegged the USD from gold, and pegged all other currencies to USD. Fiat currency (paper money printed) always goes to a value of ZERO over time, Its a historical fact. Gold and silver has been money for ovr 5k years.
@morelltechyahoocom money is intentionally allowed to inflate at a controlled rate - the target range for USD is 2%-4%, which is not exactly hyperinflation territory. But a small amount of inflation is a "positive gas pedal" for the economy, discouraging hoarding and encouraging active investment. Check out the Dow/gold ratio: the Dow has trended upward against gold for >100 years & is now near the bottom of its trading range. Passive investments are long-term losers.
@MrJboner1 Neither of them schooled either. Too short, too little time. Bernanke tried to get Bernanke to say something that would diminish the Fed's "independence" and Bernanke didn't really say it. Nothing should have been expected to happen here and nothing did. Each knows what the other thinks.
(1) The Fed doesn't control fiscal policy, so it isn't Bernanke who ran up the deficit or bailed out the banks. (2) Obama and Bernanke inherited a mess that has been building for 30 years. Financial deregulation, tax cuts and easy money turned the economy into a giant Ponzi scheme. Republicans of course blame the Dems for everything and will never admit that supply-side economics was crazy stuff; now they want even crazier stuff. Good thing they'll lose in November.
lol,yea why isnt the federal reserves full of bottle caps
disretarded 1 day ago
Title should read the other way around!
cykokilla 1 day ago 3
The title of this video is a joke, right?
CaitiffFTW 1 day ago 2
lol, "it's a tradition" - dumbest quote i've heard in a while...
ImSinify 1 day ago
3:37 Well who gets the profits?
MrLivePositive8 1 day ago
Ron Paul schools Bernanke at the end.
wacher8 2 days ago
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Severddans 2 days ago
LOL it's funny because Bernanke couldn't teach a fish to breath under water, let alone "school" Dr. Paul.
APaleHorse 2 days ago
It´s just opposite !!
jamk916 3 days ago
Dude Ron Paul schools Bernanke at the end of this... HAHAHAHA
SeedfulMusic 3 days ago 2
Ron Paul 2012!!!
SeedfulMusic 3 days ago 9
And from 18-63-1913, The nation Banks were still operating under a "free banking" system, which showed to be positive, then the FED came around. The free banking system CAN be successful, IF managed properly. The free banking system from 1937 and ON, was not quite successful, because they were still regulated, and that is a problem. And, also because of the lack of branch banking, which caused a roadblock in the growth of the free banking system.
codyjames01111 4 days ago
You do realize that Bernanke is the biggest scum of this earth, right?
tteotdead 4 days ago 6
The Fed lent money that it has created out of thin air. They grossly expanded the monetary base, which has led to much higher inflation rates than the "official" government numbers. The issue isn't over whether the money was spent or lent out, but rather that the fed was using money that it "created" just for this purpose.
arbitrage2 5 days ago
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simpsonlordguy 5 days ago
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I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO, GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE. BEN BERNANKE!!!
dljc1979 5 days ago
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I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO.
GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE. BEN BERNANKE!!!
dljc1979 5 days ago
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I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO.
GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE. BEN BERNANKE!!!!!!
dljc1979 5 days ago
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I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO.
GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE. BEN BERNANKE!!!!!!
dljc1979 5 days ago
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I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO.
GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE. BEN BERNANKE!!!!!!
dljc1979 5 days ago
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I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO.
GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE.
dljc1979 5 days ago
I WIPE MY SHITTY ARSE WITH PAPER, MY SHIT IS WORTH MORE THAN THE PAPER I WIPE IT ONTO.
GOLD IS MONEY, STOP LYING, YOU ARE FOOLING NO ONE.
dljc1979 5 days ago
Ron Paul rocks.
Ihateregistrations1 5 days ago 2
Bernanke couldnt school a wet dream.
corpsman907 6 days ago 2
Ron Paul SCHOOLS Ben Bernanke on PYRAMID SCHEME!
Feb-29-2012--Today at the Financial Services Hearing, Ron Paul taught Ben Bernanke a thing or two about economics and real money!
INFO-AWARENESS - VIKEN Z KOKOZIAN
88888FORCE 6 days ago
@88888FORCE Indeed. The constitution says states must not accept anything accept gold or silver payments, or am I mistaken? If we were allowed to do this, dollar demand would fall and silver/gold demand would rise. It could potentially destroy the dollar, but what's so bad about that. I hate the dollar. It is an inferior product.
Andrewm779 6 days ago
Ben Bernanke Schools Ron Paul on Gold
Feb-29-2012-Consumer spending is an important issue, but the congressman is mistaken in saying that the Federal Reserve has spent any money. They have lent money. That's not dissipation of the money. They have got all of the money back.
INFO-AWARENESS , VIKEN Z KOKOZIAN
88888FORCE 6 days ago
@88888FORCE No they bought assets like the MBS program. When you buy assets, you must sell them to get the money back. If the value of any MBS they sell back is zero, then you have created money without retrieving it. It has been spent.
Andrewm779 6 days ago
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Ron Paul SCHOOLS Ben Bernanke on PYRAMID SCHEME!
Feb-29-2012--Today at the Financial Services Hearing, Ron Paul taught Ben Bernanke a thing or two about economics and real money!
INFO-AWARENESS - VIKEN Z KOKOZIAN
88888FORCE 6 days ago
China has got it right. When's the last time you heard of a terrorist wanting to fly a plane into China? Dalai Lama?
Andrewm779 6 days ago
I personally think we should have 12 currencies - One for each Federal Reserve District Bank. The government could issue bonds in 12 different currencies. If one area of the country, like wall st, is hurting INFLATE THEIR CURRENCY, NOT MINE.
Andrewm779 6 days ago
As if we can believe anything Bernanke says...
eyeswideopen1993 6 days ago
@wishinifishig - You still do not get my point. POLICE keep records of criminals. History keeps records of wars invasions and overthrowing governments.
USA record is endless. IRAN record is almost non existent and IRAN does not have military bases outside IRAN , IRAN did not bomb threaten to bomb or destroyed any country in 500 years. IF CHINA and RUSSIA are not concerned for IRAN why would USA 8000 miles away.
aviomaster 1 week ago
Ron Paul is to smart for this dumb down nation so every time He speaks He has to teach the masses while informing them at the same time .... watch the YouTube video where Ben doesn't know where half a trillion dollars went its funny watching Ben trying to explain it
Kelchjrs 1 week ago
@A1980AD - YOU do not get my point , HOW can you run military industrial complex on GOLD standard. HOW can you bail out financial fascists on GOLD standard , HOW can you fund wars fund terrorists and dictators in other countries on GOLD standard. HOW can you transfer real money from Farmers middle class workers to Banks on GOLD standard. Mission Impossible FASCISTS would not be able to do all that on Gold standard.
aviomaster 1 week ago
@aviomaster Ill answer, since this guy isnt going to. You cant. On any of those questions. Once the money (gold) is up, its up. Cant make more to do your bidding. There is an exception. You could always wage wars to take the gold from other nations. That is something I could see us doing to, but without that, gold causes responsability. I read your comments and your spot on
wishinifishin 1 week ago
@aviomaster Oops, I actually meant to reply to the guy you were talking to. So let me rephrase. No, we wont be invaded. Its suicide for even the largest armies to invade the US. Any nations economy cant handle modern warfare without making fake money. Most nations are smart enough to realize that you can only make so much. Appearantly, we dont. China isnt a concern. Russia isnt a concern. After that, who is there to be afraid of? Iran? not a chance
wishinifishin 1 week ago
@aviomaster You can fight a war on the gold standard by raising the price of gold.
Andrewm779 6 days ago
"We wont get bombed or invaded, war pigs lie" I know. last time I checked, is the USA not the ONLY country to NUKE another country? Who are the terrorists? Have you guys seen any military bases posted up in your communities? STFU - WARMONGERS!
codyjames01111 1 week ago
- Mr. Ron Paul how do you expect USA military industrial empire to LIVE ON GOLD standard ? bombings invasions etc. - Mission Impossible
aviomaster 1 week ago
@aviomaster You are retarded if you believe people would being in a hurry to invade us with our military here at home and not allover the world.. Don't confuse extremist groups we created with a militant invasion.
Our currency is a trap, Its an i-o-u system and what we owe can not be repaid, the debt that we build by paying back our i-o-u's creates immediate debt. and the federal reserve prints the shit like there's no tomorrow creating debt upon debt, This debt affects everyone but a few.
A1980AD 1 week ago
@aviomaster Phasing the fed out and not going to a war in Iran when it would provoke a 3rd world war starring China- the worlds largest military, against us, is the only sane option.
Do you think its better to risk that, than to eliminate counterfeiters that are ruining our currency more and more by the hour, & stop spending more money than we can keep up with on wars in third world countries poorly geared extremist groups that we can't even win?
We wont get bombed or invaded, war pigs lie.
A1980AD 1 week ago
the Federal Reserve creates currency from nothing, therefore inflating/destroying the currency that I (the common man) hold. So essentially the Fed is stealing the money I'm holding by inflating it. Ben Bernanke = elitist scum who doesn't understand that a dollar isn't money, it's currency. Gold and Silver are money, dollars are fiat(paper/valueless) currency.
trevuar25 1 week ago
you mean ron paul schools ben bernake on gold
fargoth7 1 week ago
Thankyou Mr Bernanke for creating market bubbles and making impossible for any american save money. CREDIT economics and a market that is ruled my debt. Thank you thank you for helping the banks become overwhelmingly rich while making it impossible for middle class people have a good life. Inflation Inflation Inflation haha I laugh at his answer, so making profits off american tax payers money ok where was their Bailout and where is my check from those billions of dollar you made from my taxes
nomorelibertyecu 1 week ago
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herbalist2993 1 week ago
and where exacly is the schooling? this is probably a govt troll channel
MrMattieRich 1 week ago
There's a blog and channel dedicated to the defence and glorification of one of the worst humans alive? Really?
sheissehead 1 week ago
Gold is money.
chicagobears22 1 week ago
How is this Ron Paul getting schooled exactly?
redsmaniac11 1 week ago
@redsmaniac11 great point
MrMattieRich 1 week ago
Beware misinformation!
MrLeonardfalkland 1 week ago
gold and silver is money, cash is not...
here's an analogy, buy a gallon of gas in 1950, you spend a dime.
buy a gallon of gas today and you can still use that same 1950 dime, because it's silver.
prices haven't gone up. the value of cash has went down. if anyone got owned there is was Bernanke....
no1toolmkr 1 week ago
@no1toolmkr I don't know what kind of work you are in, but in 1950 you also would have been paid a lot less "silver" per hour than you would have today, so you would have less "money" to pay for that gas. To say that the price has gone up is the same as to say that the value of cash has gone down. Also even on a silver standard there would be price spikes due to things like war and supply constrictions by the OPEC.
Andrewm779 1 week ago
So how did he "school" Ron Paul? Besides his claim that we hold gold reserves out of tradition? The American financial sector is nothing if not nostalgic apparently.
Sugadaddy774 1 week ago
YEAH GOLD is garbage that is WHY Swiss Franc is doing poorly in the world's money market.
aviomaster 1 week ago
there is another site that says ron schooled ben on this video .......jerkoff
MoonajuanaHarvest 1 week ago
Pauls 2nd question 'is gold money' was one of semantics. Bernanke wasn't caught off guard, he was thinking are you stupid; gold was money now it is an asset (like he said) by which our paper $ is insured. Would you trade a gold bar for a loaf of bread, in Paul's world you would since the Earth has a limited amount of gold. He would divide our national supply among us all and the rich will have more and hoard it, spiking prices for us who spend > % of our $ for survival i.e. food. GO Paul!
JCrumzz 1 week ago
@JCrumzz You should actually listen when Paul goes at length into whether he'd go with gold or just sound money. Managing interest the way we do amounts to little less than a price control on money.Look how well that worked for petrol back in the1970s. Also look at any recession andyou'll see they were preceded by monetaryexpansion in the form of a war (war financing pretty much always leads to printing), in the form of central bank expansion, or going on the bimetal system(again, expansionary)
Andrewm779 1 week ago
@AhNeeshNeesh
Ron Paul is a Representative not a Senator. Your understanding is sloppy over all. If you can't take enough care to get his title correct how can your analysis be taken very seriously?
miketh1234 1 week ago
Every time there is a war, the country leaves the gold standard up until the Nixon shock whereafter we didn't even pretend anymore. Stop the wars, End the Fed. If you have to print the money to prevent the Friedman deflationary spiral, give it to the poor first, not the banks. Because the banks get free money then (ex. goldman sachs) give money to status quo politicians so they keep getting the money before the prices rise. Then they preserve the shadow that covers the Federal Reserve Act.
Andrewm779 1 week ago
Now you might argue "hey wait, paper currency creates an illusion. if there were a gold standard and the politicians said 'let's get off the gold standard' people would notice a lot quicker than the slow, steady increase in the printing of money. I might agree with you there, but if the great masses really understood money, they'd realize it doesn't matter. The true currency lies in the public's ability restrain government.
Andrewm779 1 week ago
People will still be defending central planning and interventionism in 10 years when the U.S. is still trying to bailout and borrow money to get out of the now x3 bigger debt.
willbangers 1 week ago
Gold has been currency for thousands of years for one simple reason, it is a precious metal. Our country was founded (and wrote into the constitution) on the belief that if we back our notes (cash) by a real currency (gold) that inflation would never occur. On Christmas Eve 1913, congress passed a bill that our cash no longer had to be backed by gold, created the FED, and gave the FED the ability to print money out of thin air. Low and behold, less than 20 years later, the great depression hit.
Camcaruso813 1 week ago
Ron Paul is duuuuumbbbb!!! Gold is just a metal. It has no intrinsic value in and of itself. It is NOT ontologically money. We used to use rum as money in Australia... the gold bugs are just being dumb!!!!! dumb!!!
brendos444 1 week ago 2
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@brendos444 "Ron Paul is duuuuumbbbb!!! Gold is just a metal. It has no intrinsic value in and of itself. It is NOT ontologically money. We used to use rum as money in Australia... the gold bugs are just being dumb!!!!! dumb!!" Yeah, and money is just paper.
codyjames01111 1 week ago
@codyjames01111 sound money, in human history, has only been bound up with gold money. Gold has all the qualities of money: divisibility,portability, high value per unit of weight, durability, and uniform quality.
codyjames01111 1 week ago
@brendos444 Purchasing Power in the united States of Gold and Selected Currencies - Gold = over 2.0 Swiss Franc = Just below 1.0 Euro and U.S. Dollar = Below 0.1 Japanese Yen = Slightly above 0.001
codyjames01111 1 week ago
Bernanke was schooling Ron Paul so badly that Paul had to interrupt him... Harvard/M.I.T. summa cum laude Ph.D. > radical republican senator from Texas...
AhNeeshNeesh 1 week ago 2
@AhNeeshNeesh Lets see.......PhD in Philosophy of Economics vs PhD in Medicine. The PhD in Medicine, is schooling the PhD in "Philosophy" of Economics. LOL- "Gold is Tradition." LOL GTFO. And FYI - Ron, who is a Doctor, was actually mentored by some of the greatest Austrian Economists of the 20th century.
codyjames01111 1 week ago
@codyjames01111 It's not like one is schooling the other...these guys are just like the crips and the bloods, or the jedi and the sith, or poseidon and hades...or The 47 Ronin vs. Kira Yoshinaka. It's not that Bernanke is right in the sense that the Federal Reserve policy is what ought to be done, but he would be a force if he were allowed to present the monetarist case against the austrian. this debate couldn't happen in public, but id love to be a fly on the wall
Andrewm779 1 week ago
@Andrewm779 I agree with you that this is (and politics, in general) contributes to partisan, restless debates. But the comment I was referring to, was the one about GOLD. When Paul asked B.B. why they keep gold in their reserves. And Ben's reply was, "Its tradition." What does that mean? Could you answer that? And you came off, as to say, that Ron Paul has no business debating with a Harvard Elite, who knows a thing or two about economics.
codyjames01111 1 week ago
@Andrewm779 B.B might understand a thing or two, but he definitely is not taking that education, and putting it towards success. He is just taking that education, hurting the economy, and pocketing a shit ton of money. Paul does have a place in this debate, and he does fit in quite well. He understands a system where the FED does not exist. of course Ben is not going to accept anything Paul says. When the economy is in the shit tank,okay,and this man is making loadasof money,what does that say?
codyjames01111 1 week ago
@Andrewm779 And how do you explain their dictator ways on interest rates? And printing out billions of dollars, putting that CASH on wooden pallets (creating this money out of thin air), and then shipping it to the middle east, and not explaining anything about it. Saying that they do not need to explain anything. And they got away with that.
codyjames01111 1 week ago
@codyjames01111 yeah Cody I didn't mean to make unbalanced support for either one in my comment back to you, but looking at it now I see where I messed up. No, you really just have two guys from two different schools here. I support the Paul side and I have a bachelors in economics from a school that didn't teach anything austrian. I was taught the monetarist view and actually read "the great contraction" by milton friedman which is a really awesome read IF you have to work within the (cont)
Andrewm779 1 week ago
@codyjames01111 within the Federal Reserve construct. Bernanke's last job was professor at princeton. He's not some evil bankster, it's just how he was taught. Also, let me say this. As chairman, there really is nothing he could do better other than to stand up and say "We need to abolish the fed." I'm sure he's not a bad guy. If I were chairman I wouldn't have the balls to say "abolish the fed." I'd have to go into witness protection! Besides, its congress's job to repeal or not repeal.
Andrewm779 1 week ago
@codyjames01111 In response to the wooden pallets of cash, you must know that more than one person runs the Fed, and beings as how the cash came out of the New York Fed, which is run by William Dudley (formerly Goldman Sachs) I'd be careful about who you point the finger. That money was also Saddam Hussein's money, which he bought and kept an account at the Fed at. When Saddam died, I think we decided to give that money to the Iraq government.
Andrewm779 1 week ago
@Andrewm779 Explain why the dollar is at 0.05. Why is it so low?
codyjames01111 1 week ago
@codyjames01111 You mean the interbank rate is .05? Because when something is in abundance it's cheap. Fed printed a lot of it. No secret there.
Andrewm779 1 week ago
@Andrewm779 I am talking about the wooden pallets that were shipped, AND never reported - Delivered IN CASH. Why in cash? And as to the Why keeping the GOLD in reserves is "tradition" part. Why do they do that? Why is the dollar so low? Do you think it was money printed out from thin air, and why was FDR taking gold and making it illegal to own . If you did own gold, you were fined the equivalent of 400,000 dollars, and serve 20 years in prison. If gold isn't worth anything......
codyjames01111 1 week ago
@codyjames01111 If it was never reported, then how do you know about it? link? They keep it in case of financial/governmental armageddon I'm pretty sure, but they also keep it because other central banks around the world keep it in case of armageddon, so the central banks have another medium to trade in. YES THEY PRINT IT OUT OF THIN AIR. But as I said, we gotta pay taxes with it. We gotta gun to our head saying we gotta use it. So we use it. It's a big racketeering scheme.Blame government
Andrewm779 1 week ago
@Andrewm779 Obviously we know about it, NOW; It was never reported what the money was being used for. And why was FDR punishing people for keeping gold? Like I said, you would be fined 20,000 dollars - The equivalent of 400,000 dollars in today's money. Then you would also serve time, 20 years - The equivalent of a rapist or murderer. Come on, now. And 20% of our taxes were ONLY used toward funding the war, the other 80% was made by the FED. Once again, creating $ out of thin air = Inflation.
codyjames01111 1 week ago
@Andrewm779 For some reason, it wont let me paste the actual link, but if you type in, on youtube, "Ron Paul nails Bernanke in a lie!" That will be your link.
codyjames01111 1 week ago
@Andrewm779 And another question. how come the Price of the dollar has ONLY gone down since the birth of the FED?
codyjames01111 1 week ago
@Andrewm779 And how many of the wars have the FED funded? How many years, since the fed has been in business, have we been in recession? I know the answer to that one, 40. We have been in 40 years worth of recession in the last 100 years. The monetary system does not work. We should listen to Ron Paul, with free markets and sound money. Its worth a shot.
codyjames01111 1 week ago
@codyjames01111 As for FDR, he was acting on a misguided and half-baked idea that stealing every body's gold (in return for cash) would cause them to spend more money (because its "less valuable" so they want to trade it quicker) and cure the depression.
Andrewm779 1 week ago
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@Andrewm779 "As for FDR, he was acting on a misguided and half-baked idea that stealing every body's gold (in return for cash) would cause them to spend more money (because its "less valuable" so they want to trade it quicker) and cure the depression." Roosevelt, actually, took the gold at 20$ / Oz. and promptly revalued it at 35$/Oz. where the citizens lost, and the Govt. Profited.
codyjames01111 1 week ago
@Andrewm779 And take a look at Andrew Jackson. is he not the ONLY president to clear the national debt? Was he a firm believer in Gold and Silver? By helping kill the Bank of the United States, he effectively deprived any chance to moderate the Economic Cycle of booms and busts until after the Federal Reserve was.
codyjames01111 1 week ago
@codyjames01111 He also caused a major depression by suddenly bankrupting the majority of the nation, by forcing a gold standard.
Commander034 1 week ago
@Commander034 That's incorrect. The depression was caused by the banks, who were issuing excessive amounts of paper money (unbacked by bullion reserves), which led to inflation. Other factors to the depression, were, large debts incurred by states due to over-expansion of canals and the construction of railroads; an unfavorable balance of trade as imports exceeded exports ; and several crop failures in 1835 and 1837.
codyjames01111 1 week ago
@codyjames01111 More causes of the depression were: fractional reserve banking (where we see today, with the FED and modern banking), and state government deficit spending, which dramatically increased the money and credit supply, decreased interest rates, and led to erroneous investment decisions before and up to 1837
codyjames01111 1 week ago
@codyjames01111 That's all untrue and uneducated lies. The central bank was destroyed by Jackson so it had no effect. The deficit stopped existing as well under Jackson. What Jackson did do though, was place all the government's money in untrustworthy "pet" banks that had made bad loans and as a result, collapsed. Jackson's specie circular policies had caused a large majority of the population, who only had paper money, to become broke over night.
Commander034 1 week ago
@Commander034 Gold is stable money. When nations operate under a gold or silver standard they do not have the booms and bust such as you would find with the federal reserve note. Gold standard acts as a check on government deficit spending as it limits the amount of debt that can be issued. A central bank could not create unlimited quantities of money at will, as there is a limited supply of gold. The federal reserve note could have worked if it were not for US government war and global policing
EnhancedCognition 1 week ago
@EnhancedCognition Gold as currency comes from the ancient belief that wealth must be captured. Wealth isn't finite or tied to any market anymore. Wealth is generated through trade and credit. We got off the gold standard because we were making more money than their was gold and thus ran a trade deficit. I don't support the massive printing of money as it goes on now. I believe it needs to be much more regulated and be tied to the banks' credit or something that is generated.
Commander034 1 week ago
@Commander034 I agree in most respects. Money as it is today has simply been misused and abused to the point that were getting to critical levels of debt and devaluation.
I'm aware that their is a finite amount of gold. But their are other forms of wealth in which could back a congressionaly coined US currency.
We certainly don't have to go through a privately owned bank like the federal reserve who has little to no oversight into their practices.
EnhancedCognition 1 week ago
@EnhancedCognition The Fed is not privately owned. That is a libertarian lie. The bank is owned by the government and is advised by the major banks of the U.S.. If the dollar must be tied to something, it should be like Australia's system of tying it to a large number of things and whatever is expensive at the moment.
Commander034 1 week ago
@Commander034 It is not a libertarian lie, it is a liberal/neoconservative anything-but-libertarian lie
Andrewm779 6 days ago
@Commander034 Wealth is captured if you capture it right. When you get a piece of land, that is one less thing you have to worry about. It adds to your personal utility. When you dig your own well, you have water security. When you put a windmill up, you have energy security. When you grow your own food, you've got all you need. You are self sufficient and independently wealthy. Money can change in utility to YOU, but these things do not.
Andrewm779 6 days ago
@Andrewm779 These things are not wealth. Wealth is something that allows you to trade in the market. The largest creators of wealth are goods and services. They make up much more trade than assets such as gold, stocks, and bonds, could ever do in the market. Wealth is affected by the supply and demands of these goods. Currency will always have inflation, it is an inevitability, as more currency must always enter the market to allow for the buying of these services and goods.
Commander034 5 days ago
@Andrewm779 In continuation and conclusion, wealth is trading power, and the fact is, you can't trade anything you listed, except as an asset, which is an investment meant to gain currency. They can be traded as goods, but the trading between many business offering them as services is what is generating wealth, much more than those unmoving and concrete assets could.
Commander034 5 days ago
@Commander034 Hmm?? The banks were issuing more paper money than they had Gold reserves available. It was the poor management of the banks that caused the depression DURING Van Buren's presidency.
codyjames01111 1 week ago
@codyjames01111 The banks failed because of bad credit rates and loans, not money circulation. The events and policies that led to the depression were all under Jackson's administration.
Commander034 1 week ago
@Commander034 I know, the banks caused the depression, because of, like you said, bad loans, and of course, printing more money than could be backed by gold. And you are referring to the speculation, which is that, pure speculation.
codyjames01111 4 days ago
@Commander034 There were also a shit ton of banks starting up rapidly, which created a bust as well. It wasn't because of Andrew Jackson's evil plan to shut down the central bank. there were many reasons for the depression. We have a central bank right now, and we are in a depression; because of war, because of this central bank creating money out of thin air, and because of their nutty ass loans that they throw out their like its nothing.
codyjames01111 4 days ago
@Commander034 .......Why did we send tons of money to Greece, when, we, in fact, are in a recession ourselves?
codyjames01111 4 days ago
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@Commander034 "What Jackson did do though, was place all the government's money in untrustworthy "pet" banks that had made bad loans and as a result, collapsed. Jackson's specie circular policies had caused a large majority of the population, who only had paper money, to become broke over night." So, you are saying it was the mismanagement of the banks?
codyjames01111 1 week ago
@Commander034 And why didn't John Tyler re-charter the National bank? And why did Polk WANT to fulfill the "Jacksonian Doctrine?" And why did Polk WANT to be a Jacksonian? And GOLD! -A GOLD RUSH! Manifest Destiny, etc. We did not open a national bank until the National Banking Act of 1863, and the FED in1913, andlook at the mess we are in;40 out of 60 years in a recession! We did see a private custom house, which was corrupt as well.But the FED is corrupt b/c it can subject to predatory lending.
codyjames01111 4 days ago
@Andrewm779 If gold isn't worth anything, how come we see all these adds on TV seeing white dudes in suits, collecting gold for money from the american citizens.
codyjames01111 1 week ago
@codyjames01111 Because the white dudes are capitalizing on market fears that the government could collapse or that we could experience hyperinflation like in germany. "GOLDLINE" has already been caught defrauding someone, and they used glen beck as their spokesman to trick your old grandma into believing all this. In reality they buy gold on the cheap and sell it to you or granny at a very hefty markup. What's really insulting is when they try to sell you gold certificates and not real gold
Andrewm779 1 week ago
@Andrewm779 "They keep it in case of financial/governmental armageddon I'm pretty sure, but they also keep it because other central banks around the world keep it in case of armageddon, so the central banks have another medium to trade in." Is that tradition? Why didn't Ben say that himself?
codyjames01111 1 week ago
@Andrewm779 Speaking of Gold Certificates, now the FED is claiming that they do not have gold, that they have gold certificates, instead. I am really confused as to what is going on.
codyjames01111 1 week ago
@Andrewm779 And so, back when FDR was collecting Gold, he took Gold from the FED and issued them Gold certificates? Is that correct?
codyjames01111 1 week ago
Ron Paul = Bad Ass
MrWhitebread88 1 week ago
Who could watch this and think Bernanke won the debate? Seriously, Paul has been sending the same good message about sound money and sustainable financial policy out for decades. If you want to see some of the ridiculous financial issues in a more reasonable light, try the documentaries I.O.U.S.A and also The Inside Job
talesofadam8 1 week ago
@TheBalancedAmerican The banking system treats mortgages as assets? What do you think MBS are? That's how money gets created. When a loan is made a banks assets increase and his liabilities increase. When the loan is sold, A and L decrease. On the opposite side, when the homeowner sells his house, assets increase by 1 house and liabilities increase by the loan amt, which presumably is about equal to the value of the house.The Fed is quick to overpay for a bankers asset. Homeowner,not equal
Andrewm779 1 week ago
Title should be: RON PAUL Schools Bernanke on Gold
mikeberserkr 1 week ago
@mikeberserkr no he didn't. Gold still has no intrinsic value. Bernanke was dead on calling it a precious metal propped up by tradition
imadizzy1 1 week ago
@imadizzy1 I guess food, water, shelter, and medicine are the only products that have true intrinsic value. But that is a fairly narrow view of how economies use products. Imo, Gold has intrinsic value because it is a precious metal that is essential in technical manufacturing. Its intrinsic value comes from its use as a material to create useful products. You're right that it has no intrinsic value as a currency, other than tradition. =)
TheBalancedAmerican 1 week ago
how did he get schooled? he proved that bernanke contradicts himself in his belief that gold is just another commodity while at the same time the government holds a MASSIVE amount of emergency gold.
jpthehp 1 week ago
The value of paper money can be turned off over night, gold's value will last till the end of time.
openbreakwhat 1 week ago
Yeah, Ben Bernanke schools Ron Paul? What? Ben Bernanke is an idiot, and Ron Paul shows him how fake his Fed really is..
MrTollyChat 2 weeks ago
ARE YOU KIDDING ME? THE HEADLINE FOR THIS VIDEO SHOULD HAVE BEEN RON PAUL MAKES BEN BERNANKE LOOK LIKE THE GREEDY REPTILE THAT HE IS!!
singergirlly 2 weeks ago
@singergirlly not quite, friend. bernanke was correct about everything he said, and he's largely responsible for saving the economy. i'm sure you're a ron paul nut...there's a reason your "candidate" never had a chance at winning a single primary or caucus. his mindless simplicity appeals only to fools who share his myopia. have nice day
alexwilliams2962 2 weeks ago
@alexwilliams2962 You are delusional and no friend of mine...He is a criminal and he will be dealt with one day I can assure you and you know it!! : )
singergirlly 2 weeks ago
@singergirlly He is not a criminal and you should be careful with your words if you truly support Ron Paul because words like this give his supporters and hence Mr Paul himself a bad name. Bernanke is working within the central bank construct, and given those circumstances he is operating as best as can be done.
Andrewm779 2 weeks ago
@Andrewm779 Thank you for your balanced responses and civil discourse. Too often these pages are filled with petty bickering. =)
TheBalancedAmerican 1 week ago
@singergirlly The problem is the Federal Reserve ought to be abolished. In my view, only a Central bank with God himself as chairman could perform better than a free banking system.
Andrewm779 2 weeks ago
@singergirlly yeah, let me know when they deal with him
alexwilliams2962 2 weeks ago
@alexwilliams2962 Listen, professor. Bernanke saved the economy, you are right, but there may not have been a need for saving had the federal reserve not been there in the first place. Bernanke follows the freidmanite monetarist school, but did you know that friedman only made his monetary policy prescriptions IF there had to be a central bank at all? Friedman said a gold standard could only work if the Govt accounted for 10% of GDP. You know that means less wars, more freedom. Nuts right?
Andrewm779 2 weeks ago
@Andrewm779 dude, don't start this. i'll never understand why lay people think they understand the U.S. economy better than people who've spent a lifetime studying it.
alexwilliams2962 2 weeks ago
@alexwilliams2962 Do you want to take on Hayek, Von Mises, Milton Friedman to name a few? You cite Paulson (Goldman Sachs =>Conflict of Interest) Krugman (who promotes expansionary fiscal policy, not monetary policy), and 3 guys who served as chair of the board as your champions of Central Banking? I've got Hayek (nobel prize), Von Mises (Hayeks boss), Peter Schiff (predicted housing collapse), Milton Friedman (nobel prize). And you should also know I personally have a degree in Economics.
Andrewm779 2 weeks ago
@alexwilliams2962 The best you could call is a stalemate, but you refuse to even consider theoretically how a world without a central bank could actually work. I have considered both at least and arrived at a very tenable conclusion.
Andrewm779 2 weeks ago
@Andrewm779 of course u can argue that the fed needs more oversight, but elimination? do u really want to take on greenspan and volcker and stiglitz and krugman and paulson and bernanke?
alexwilliams2962 2 weeks ago
Haha who made the title of this video? Bernake had the deer in headlights look Ron destroyed him
kmoneyXC 2 weeks ago
haha....Mr. Bernanke's voice was trembling the entire time. I am not sure if I should thumbs down this video because of the title or thumbs up it because Ron Paul wiped the floor with the Fed.
carverchick001 2 weeks ago 5
Ron Paul schools Ben Bernanke
iHipHopVEVO 2 weeks ago
Sounds like Ron Paul didn't just school, but FU*KING OWNED, Ben Bernanke and the Fed.
dirtylogs 2 weeks ago
hahaha! Ben Bernanke! You didn't school anyone! lol
Mnlsnk 2 weeks ago
Where did they get the money for all of these high risk loans? The Fed and their low rate policy. Why did they go for the high risk high interest rate policy? The Fed and their low rate policy made safer investments less attractive. Regulations don't work, they just make things more difficult for the depositor to understand. If a bank collapses, the FDIC can stave off runs, or the Fed can fund the FDIC. With congress printing money for depositors, the money goes to the banks anyways.
Andrewm779 2 weeks ago
Wtf is with this title? It should be the other way around.
ktmlover90 2 weeks ago
LOLO>LOLOLOL...GO RON! LOVE YOU!
BethBreeze 2 weeks ago
I dont really like banks.They have too much power imo. But that said, nothing has stopped the US from becoming the most powerful nation in the world the last hundred years, even if the Fed was there.Sure you can argue about details here and there, but as a whole the Fed has indeed encouraged growth and prosperity. So people can't really say anything bad has happened the last century.The corporate bailout, might be a stretch to some, but as a whole, the US is still the most powerful in the world.
Faerlon123 2 weeks ago
Ben Bernanke= blithering idiot Ron Paul= the best damn thing since sliced bread.
MrMatthewRice 2 weeks ago 13
@MrMatthewRice these fucking ron paul people. buddy, there's a reason your "candidate" never had a chance of winning a single primary or caucus. his mindless simplicity appeals only to those dumb enough to share in his myopia
alexwilliams2962 1 week ago
@alexwilliams2962 that's funny, that's the exact same thing you said to someone a few comments back. wow talk about spewing ignorant talking points, your ignorance is second only to your blind willingness to trust a banker. I guess that's why ron Paul still polls second across the country, huh? Because he doesn't have a chance? Yeah ok dumdum, go back to your little dark hole that you crawled out of.
MrMatthewRice 1 week ago
@alexwilliams2962 Oh yeah and RON PAUL 2012!!!! You can't stop and idea whose time has come!!!!!!BIIIIIAAAAAAATTTTTCCCCCHHHHHHHHH!!!!!
MrMatthewRice 1 week ago
@MrMatthewRice well i repeat myself cuz u people DON'T LISTEN and paul has NO CHANCE. but i'm sure that doesn't matter to u. after all 50 states have voted (without him winning 1) you'll be crying voter fraud and coming up with another idiotic theory about hot he'll be president. btw, how embarrassing is it that he's the only one still in the race that hasn't won yet? haha
alexwilliams2962 1 week ago
@alexwilliams2962 and he doesn't poll second, he polls last. get it? LAST. you're retarded
alexwilliams2962 1 week ago
@alexwilliams2962 No he doesn't poll last, he polls second only to obama, look up the latest national polls you fucking twit, quit listening to CNN, butt nugget.
MrMatthewRice 1 week ago
Comment removed
alexwilliams2962 1 week ago
This has been flagged as spam show
@MrMatthewRice friend, get help. of course u can find 1 poll sample that says he's on top. but when u AVERAGE all the polls, he's last and it's been that way for months. but keep living in your alternative universe and listening to alex jones. again, help is only a phone call away. doctors have pills for the kind of delusions u obviously suffer from. oh yeah, and you're a white trash shit stain who doesn't know the first thing about insults. but u r good for a laugh or 3
alexwilliams2962 1 week ago
@alexwilliams2962 blah blah blah, says the guy who can't spell or type with even elementary grammar skills. Fucking cunt, if you're going to insult people at least have the decency to spell you fucking fuppet. You talk like you know every god damn thing there is to know, yet can't even spell, so fuck you, you're mother should have clearly had an abortion.
MrMatthewRice 1 week ago
@MrMatthewRice i didn't misspell anything. i hope you're not referring to my use of "u." (sigh). funny how u didn't address any of my points...and i'd like to see u say that about the abortion with me standing next to u
alexwilliams2962 1 week ago
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@alexwilliams2962 Yeah Yeah Yeah blah blah blah "and i'd like to see u say that about the abortion with me standing next to u". Tell you what, you do the investigative work necessary to find me, and I'll be more than happy to tell you about that abortion thing. My name is right here for you to use, so come on and find me, and we'll see how tought you really are. I didn't adress any points you made because clearly you're a twat who wrote a paper in college so you think you know everything.
MrMatthewRice 1 week ago
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NWOsupportersRdbags 2 weeks ago
uhhhh so how did bernanke school ron paul? ron paul made him look like a fool at the end of this clip.
realtalker2012 2 weeks ago
ya Bernanke says: "we havent spent any money" a second later he says "they made purchases", and that purchase he then says makes an idiot criminal liar saying it was spent on criminal banks and wasting businesses. So the title here is a complete lie since: RON PAUL SCHOOLED BEN BERNANKE. bernanke is a complete tool, the entire fed is a gang of criminals all over the world it's not even american.
Friendly011982 2 weeks ago
If you look at Global Central Banks, mostly, India and China, they are buying up gold stock piles as reserve. 1971 Fiat currency was created globally which unpegged the USD from gold, and pegged all other currencies to USD. Fiat currency (paper money printed) always goes to a value of ZERO over time, Its a historical fact. Gold and silver has been money for ovr 5k years.
morelltechyahoocom 2 weeks ago
@morelltechyahoocom money is intentionally allowed to inflate at a controlled rate - the target range for USD is 2%-4%, which is not exactly hyperinflation territory. But a small amount of inflation is a "positive gas pedal" for the economy, discouraging hoarding and encouraging active investment. Check out the Dow/gold ratio: the Dow has trended upward against gold for >100 years & is now near the bottom of its trading range. Passive investments are long-term losers.
gspaulsson 2 weeks ago
F - I thought it was putting my replies right under the comment
Andrewm779 2 weeks ago
bernanke is greedy, evil conman if you think he schooled ron paul your a retarded bernanke just mumbles and circles around the question.
MrJboner1 2 weeks ago
@MrJboner1 Neither of them schooled either. Too short, too little time. Bernanke tried to get Bernanke to say something that would diminish the Fed's "independence" and Bernanke didn't really say it. Nothing should have been expected to happen here and nothing did. Each knows what the other thinks.
Andrewm779 2 weeks ago
(1) The Fed doesn't control fiscal policy, so it isn't Bernanke who ran up the deficit or bailed out the banks. (2) Obama and Bernanke inherited a mess that has been building for 30 years. Financial deregulation, tax cuts and easy money turned the economy into a giant Ponzi scheme. Republicans of course blame the Dems for everything and will never admit that supply-side economics was crazy stuff; now they want even crazier stuff. Good thing they'll lose in November.
gspaulsson 2 weeks ago