Paul Ryan and Ben Bernanke discuss currency, credit, jobs and the economy

House Budget Committee hearing
Ranking Republican Paul Ryan and Federal Reserve Chairman Ben Bernanke

http://www.nysun.com/editorials/paul-ryans-question/86997/

NY Sun Editorial:
"Ryan noted that on Tuesday 'gold hit an all-time high,' or, as we like to put it, the value of the dollar fell to an all-time low. Mr. Ryan suggested that most people would view the development 'as a vote of no confidence against fiat currencies.' What he asked the chairman was 'what does that price signal tell you and what is your view of the long-term repercussions with respect to weak currency policies?' He said he supposed one could argue that we don't have a weak dollar because everyone else is weaker, but asked about the implications for a the 'strength and stability of our currency.' The chairman's answer strikes us as a classic. One doesn't go into gold because, as the be-puzzled Mr. Bernanke seems to suggest, one lacks confidence in, say, "other investments," soybeans, say, or iron ore. One goes into gold because one lacks confidence in the fiat currencies."

Category:

News & Politics

Tags:

• bernanke
• paul-ryan
• budget
• gold
• fiat-currency
• federal-reserve
• jobs
• wisconsin
• congress

[jccusell]

@UBSCARED

"No signs of inflation." Thats my bumpersticker and joke for get-to-gethers te rest of 2011. "No signs of inflation" hahahahaha ! Well I gues folks like you who make 400 thou + a year wouldn't notice. Meanwhile the rest of us, like 95% of the rest of mankind, think your statement is hillarious

[LZmusic]

I’m not against central banking per se, but it’s amazing to me that congress has the power to ratify foreign policy treaties, but there is NO ratification process for Fed policies…scary

[RBGERSON]

PAUL RYAN FOR PRESIDENT----------HE IS SMART AND HAS INTEGRITY AND SHOULD RUN THIS COUNTRY.

[twisted45]

why does the american government borrow its own money with interest? end the fed

[3martijns]

The Oligarchy feds Hate Small business.

[kmg501]

If our founders and framers heard this conversation they would be incensed at the liberal attitude taken with who controls money and economics. This Keynesian nightmare must be ended.

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I like you Ryan but I see you as continuing in the same bureaucratic Keynesian footsteps instead of tackling the root of the problem. The unconstitutional Federal Reserve.

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End the Federal Reserve.

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