Saving the Dollar, Destroying Jobs and the Financial System

[rctube1958]

So the problem wasn't that the US got off the gold standard. It was WHAT HAPPENED after the US got off the gold standard. Err, wha? Getting off the gold standard unleashed the banks and lead to other problems that the speaker chronicles. But the problem wasn't getting off the gold standard!!?

[judd73]

@rctube1958 exactly why are they afraid to admit we'd be better off with a gold standard? If we wouldn't be better off, it sure would be nice to hear their explanation for why.

[worldismorphing]

@judd73

YouTube search : Parasitical Capital Not Lack Of Gold The Problem

The answer to your question in a previous Real News interview ...

[worldismorphing]

@rctube1958

The answer to your question in a previous Real News interview... which I indicate in a reply to the comment above yours....

Grandma Wisdom will explain it really neatly...

[bammbamm12]

I don't know if Nixon's crime with the gold standard was all that bad. You could still buy gold with $US, you just couldn't turn in dollars and exchange them for a fixed weight in gold. So they'd have to buy gold in the open market for, say, $50 and ounce instead of $35, the former guarantee.

[judd73]

Gerry Epstein is admitting, though kind of backhandedly, that going off the gold standard has given rise to an overly powerful financial sector (over other market-created businesses). However he says that if all that newly printed money was simply in better hands like the politicians, we'd all be better off. That's a tough sell, and buy. Why not just stay on the gold standard if you want production to stay and a less finance dominated economy?

[dharmaatdawn]

For all the empty rethoric of being masters of their destiny yet expecting Obama to change the system that has more in common with .1% then with the "people". " the people who OWN the country ought to govern it". yes its still true till today. They own the country not you. You just working for them. Whatever "right" you have now wasnt given to you bc of Constitution or bc its a birth right. Ppl suffered, jailed, died for it. U wanna middle class fight unless you think you gonna be in those .1%

[worldismorphing]

The subject is spot on, but you must go further Paul.

Ask Jane D'Arista to expand on the Keynes proposal and why it was never attempted in its integral version. Could it still be applied in this new era of fiat debt money system ? In her last video with you Paul, she seemed pretty adamant that its the only way to tie the printing of money and its value to what actually gets produced....ask her thoughts on twin currency systems ...

[GeeKayKayGee]

Come on Paul, "financed by Finance."?  Surely what you mean to say is that Obama has been bought and paid for just like every other politician in the USA.

[IceManLikeGervin]

Paper money created out of nothing and charged interest (usury) upon in order to enrich global bankers while enslaving Nations to them via debt.

The Federal Reserve is a non Federal entity made up of private bankers aka a cartel that has sucked the life out of the US economy ever since the Federal Reserve Act was inacted and the FIAT paper currency was assimilated over the Gold standard.

The LOVE of money is the ROOT of all EVIL!

Can we get an audit on the Gold Reserves held in Ft Knox ASAP?

[PeterTattersall46]

@IceManLikeGervin Stop rocking the boat for gods sake, it's all gold plated titanium.

[decepticonsofnwo]

@IceManLikeGervin Y dont we skip the audit, charge the fed with treason and whatever other charges we can come up with and confiscate all their gold

[DecentralizedByGuilt]

Having balanced foreign trade agreements could greatly reduce the globalization of debt

[StraussBR]

Prof Epstein,

I hope you read this

There is an important aspect that greatly helped the dollar to sustain it's value after Nixon shut the gold window, and it is the OPEC deal Mr. Nixon made with the Saudi family to sell their vast oil reserves exclusively by U.S Dollars, this created of course large scale demand for U.S $, causing many countries even to borrow USD with the IMF, That is why OIL IS SO IMPORTANT FOR US POLICYMAKERS

Thumb up this if you agree, everybody should know this fact

[kopellhinex]

bankers+lawyers+police+judge+p­oliticians+criminals+terrorist­+gamblinglords

+rebelnarcopolitician+dictator­s+rulers+etc = DIRTY CAPITALIST SCUM PIGS.

BANKERS & DRUGLORDS screwed life & society in human history.

BURN THE BANKS. BURN DRUG LORDS ALIVE & OCCUPY THE WORLD...!!!

BURN THE BANKS. BURN DRUG LORDS ALIVE & OCCUPY THE WORLD...!!!

"GOD HANG the LANDGRABBER PIG ROYAL LAZY FAMILY"

SAVE the ANIMALS & NATURE. END THE DEBT!!! END SLAVERY!!!

---- copy & paste WE ARE THE 99% FREEMAN ----

[TheLordInglip]

lol at the title...they took destroying jobs literally

[glennd7962]

Just one point, folks. Government is what gives financial services companies their monopolies. And government monopolizes money creation. The solution isn't more government, that's why "Progressives" will never get us out of this mess.

[dangerouslytalented]

@glennd7962 Without the government, the rich and powerful will create their own monopolies anyway. They will probably do it faster, without any regulators in the way.

[glennd7962]

@dangerouslytalented You are a moron. I'm not saying we don't need govt - what I'm saying is the problem that the commentator is complaining about is caused by the govt granting monopolies to banks, securities firms and insurance companies. That's why they've gone from 4% of GDP in the early '70s to 18% now. Taking the U.S. off of the gold standard allows politicians to manipulate the monetary system and finance types have gotten rich off of that. Learn something, then complain.

[BOZ11]

@glennd7962 government doesn't print money, banks do. why would govt borrow at interest if they could print money interest free??

[genefire]

@glennd7962 Nah..its the other way around. Maybe people should look up the word Government before making comments like this. The PRIVATELY OWN Federal Reserve Bank runs our government and to say that the government is what monopolizes the creation of our money supply is very ignorant to the facts. Maybe you should ask the Federal Reserve Bankers who owns them? Why are we paying interest for every dollar printed physically and digitally to the Federal Reserve? Research this if you don't believe

[genefire]

@glennd7962 one more thing...the Politicians are enabler for neutering all regulations and for writing laws that make usury a okay thing to do. The politicians aren't for the people and I'm beginning to believe that we didn't put them there either. Can anyone say "Black Box Voting"? Anyway, I hope people educate themselves and not fall for propaganda/ the mainstream narrative of our financial woes.

[Eraser7622]

ARGHH! So many of the guests on TRN speak of economics based in THEORY, yet predicated upon a false foundation! The false foundation they all use is this idea that the US, or other national governments are: 1. The decision makers, 2. Fundamentally interested in the well being of their nation's citizenry, and 3. Made decisions with well meaning intentions which yielded unintended consequences.

1. They're NOT, 2. They're NOT, 3. They did NOT.

Politicians are puppets to a handful of men.

[911truthncDotOrg]

Gerry Epstein sounds like he is piped up on Coke. He can't talk without stumbling over his words.

[audiofringe]

SHORT SELL GS!

[sparx832]

Yo Paul Jay - please get some austrian economists on your program.

[udonewsreport]

As of 9/26, the London Gold Exchange is permanently closed for business; what effects should be expected, if the US closes its gold exchange? What are the major gold exchanges, and what is their decision on open gold markets?

[Gilliatt83]

Thank you

[cheddyrod]

Can't wait for part two to hear some solutions.

[peterb37]

I personally believe that the reason Johnson did not run again was because we were running out of money. Nixon took the easy way out and sold out to the Bankers, and fixed it so that he could get as much money as he wanted. He also screwed our creditors to the wall to. When you can just print money you don't need creditors, and with Fiat currency you don't need gold or silver either. When Reagan deregulated and started spending like a sailor and popularized deficit spending, The coup Done !

[dangerouslytalented]

@peterb37 Problem is, the speculators were making it impossible to pay off any debt, even when raising taxes. The Vietnam war was a collossal drain on the economy. Something had to give.

It is not possible to get back onto gold because the speculators are driving the cost of gold so high that to put the dollar back on the gold standard, there is not enough gold on the planet to do it.

[Aiden057]

excellent segment, TRNN, thank you. It becomes all the more clear, watching this, that the goals of #OWS are right and unless accomplished will mean the utter downfall of the global economic system.

[Eraser7622]

@Aiden057

The global economic system is already fallen friend.. there is no way possible, not one way, of a recovery back to what we had 5-10 years ago. It's over, the only thing left 2 happen is for the emergency support systems 2 fail.. the patient is already dead & the life support systems are old & failing. This is not an opinion.. this is fact. #OWS is too late... although it is a positive thing b/c it shows people have waken up, unfortunately, they've already missed the school bus.

[peterb37]

I think that a lot of important and pertenant events that happened starting with Lyndon Johnson should be examined when assigning motives for Nixon's actions. Lyndon John was forced to create the unified budget in order to hide the effects it was having on our ability to pay for and support the Vietnam War. It was draining the Us treasury . By throwing all of the Departments in one hopper he could rob peter to pay Paul and it all balanced out at the bottom line. ( continued )

[WellIAMScottish]

Paul Jay and REAL NEWS: Please get out on the streets of Freedom Plaza and let people speak for themselves!

[MerrillMedia]

Epstein's post-Bretton Woods monetary theory understanding is wrong. The current system did lead to an explosion in the size of government and the financial sector, and I think both are bad. But he falsely claims that investment left USA and went abroad because of removing capital controls and that this hollowed out production in USA. Theory and data proves that both capital goods and consumption goods are imported to USA. The productivity of manufacturing in USA has boomed as a result.

[lppoqql]

When international finance control the politics of America that means there is no democracy. One of the problem in America is that most people refuse to admit it, thus they are reluctant to fix this problem. I think the first step is to let the American people know they dont have democracy, Paul Jay, I think this is what you should do :) Let the people know, if you dont even know you lost something than you wont get it back.

[Hillsillverr]

No no no, you ididots, this goes back to before ww1, WHAT STARTED WW1 AND THEN WW2?..

THE REEDY JEWS ON WALLSTREET (same families), destroying the german economy..

RING ANY BELLS?

Hitler was only trying to save us all, and after 100 years, they did the same shitt over again, stealing your gold and calling it a "marketcrash"!

[Licmycat]

Beware the lying demons!

[Licmycat]

Are those a-holes Threatening Us??? KILL him! Or help me make a golim to KILL HIM! No one would be punished if a GOLEM KILLED those lying CROOKS against GOD'S children!!!

[HardHouseMusic4Me]

"He who passively accepts evil is as much involved in it as he who helps to perpetrate it. He who accepts evil without protesting against it is really cooperating with it." ~MLK~

Join the movement

Occupytogether (dot) org

[megamogx]

Fiat Currency is going to impload, buy golds!

Their is lots of it in the system stolen from IRAQ and LIBYA!

[elbowbiter1]

@megamogx money and markets will too... put on your shades and hold onto your hats.

[PeterTattersall46]

@megamogx Yes but that gold has to go to Venezuela.