Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011

July 13, 2011 - Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.

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[14goldmedals]

Gold was the first money and will always be money. To print paper and not have the "metal" to back it up is fraud and illegal causing inflation. Paper money only came about because it became too hard to carry gold all the time. Paper is like a check the gov't writes saying you can return this anytime for the gold we're holding. Except now they don't have enough gold to back the paper = fraud.

[bryun43]

5:19 The exact moment Bernanke's butthole puckers up to the size of a decimal point.

[good342011]

We love Ron Paul ..hope he would be able to lead the country.

[TheGoogler77]

You're right, gold wasn't the first money. However, the Sumerians started to use "metal" (not gold per se) as currency. Gold and precious metals (e.g. silver, electrum, etc) wasn't used as currency until the Lydians.

[omgiheartpie]

So cute, all the goldbugs here snickering at Bernanke is hilarious.

[TrenchcoatNinja3]

Let me get this right. Ben said Mr. Paul was "mistaken" if he says the fed has SPENT money, yet Mr. Bernanke clearly said that the fed has PURCHASED security. Last time I checked, if you PURCHASE anything, you SPEND MONEY. Am I right? Because I smell Bullshit.

[austrianecoable]

No......LOL

[blythebaby777]

Gold is cheaper than the price quote Ron Paul gave in his address to Bernanke. Looks like Ben's toilet paper won!

[Kazzzzzo]

OMG! How long will you Americans tolerate the existence of the FED!?!?!

[Mike Cherelli]

Listen to Bernanke as he trembles in his boots trying not to say something that will make him look like a fucking idiot.. OOPS TOO LATE...

[TainoSun]

watch?v=IYlpFjZ0x2U