Bernanke: "Inflation is a tax"

Ben Bernanke admits to Ron Paul that INFLATION IS A TAX on July 16, 2008.

Category:

News & Politics

Tags:

• ron
• paul
• bernanke
• federal
• reserve
• inflation
• tax

[Hageeisanass]

Americans need to do what the Icelanders did - tell the jewish wall street bankers to stick it.

Iceland survived just fine, didn't it? In fact, they recovered quite quickly, as opposed to say Ireland and now Greece.

We need to tell the Jewish Wall Street bankers, like Ben Shalom Bernanke, to stick their bad decisions up their posteriors.

[UNTC321]

@KripDrip True phone charges have gone down, but I remember cars 30 years ago and 75 cent gasoline. It was much better back then because the police wrote less tickets, and there was less gov. regulations. And the government didn't put bombs in buildings OK City and The Twin Towers and blame it on Arabs to start six wars and start inflation.

[loismlsx]

@FreddyTheJumpingCat BECAUSE MANY OTHERS DONT KNOW U STUPID FUCKING IDIOT!

[Browncatpaw]

Tax to who? who is it that everyone is paying this tax to? the sheriff of nottingham?? House prices have doubled in 15 years, but wages stay the same....so who is it that needs this tax in there pocket so bad that everyone of our quality of life goes down.. Who's collecting this tax? and what are they using it towards... excuse my ignorance but this sounds like the old feudal system

[Willredd94]

@Hageeisanass While I understand your point, that type of anti-Semitic language would get a politician in so much trouble he would have to resign in the United States.

[FreddyTheJumpingCat]

No shit...we all know inflation is a tax.Why did I bother even watching this?

[FreeinTX]

@crdivona

Where we buy our goods doesn't have anything to do with the medium of exchange we use to buy it. While I agree that ending the FED would help everything, people are still going to buy cheap regardless of where they buy it using debt notes or gold. Lowering regulations and restrictions on US businesses makes US products cheaper and therefor more appealing.

[FreeinTX]

@crdivona

$5 in 1913 was the face value of a 1/4 ounce of gold. They got 1-1/4 ounce gold a week at the Ford plant. So they would be doing a little better than $1200. More like $2300 a week.

If today's automakers had the same restrictions and regulations on their cars as they did in 1913, Ford could afford to pay their worker $2300 a week. On the flip side, if there was the EPA in 1913, Ford would have gone broke trying to build the plant!

[FreeinTX]

@crdivona

$5 in 1913 was the face value of a 1/4 ounce of gold. They got 1-1/4 ounce gold a week at the Ford plant. So they would be doing a little better than $1200. More like $2300 a week.

If today's automakers had the same restrictions and regulations on their cars as they did in 1913, Ford could afford to pay their worker $2300 a week. On the flip side, if there was the EPA in 1913, Ford would have gone broke trying to build the plant!

[crdivona]

@FreeinTX Even if you pay a worker $5.00 a day (or $25.00 per week), that would be a great amount (if you use the value of the dollar in 1913). Today's dollar is worth only 2 cents compared to the 1913 dollar (before the Fed and inflation ruined it). $25.00 per week in 1913 dollars is roughly equivalent to $1200 per week in today's dollars (if you consider that the dollar has lost 98% of its value since 1913, when the Federal Reserve began).

[crdivona]

@FreeinTX You're failing to recognize that if we end the fed, restore sound money, and open the free-markets (all things Ron Paul seeks to accomplish), American workers wouldn't have to compete with the "slave wages" in China. We'd be making our own shit here. Businesses of all sorts would spring into existence and thrive, unemployment would plummet, and the money Americans would be paid would hold its value.