"Never before has the Fed done what it's doing now"

Foreign Affairs Live: A Discussion of the Global Financial Crisis (Video)

http://www.cfr.org/publication/17857/foreign_affairs_live.html?breadcrumb=%2F...

Speakers: Roger C. Altman, Chairman and Chief Executive Officer, Evercore Partners; Former Deputy Secretary of the U.S. Treasury
James D. Grant, Owner and Editor, Grants Interest Rate Observer; Author, After the Crash: Helping the U.S. Economy Right Itself (Foreign Affairs November/December 2008)
Harold James, Professor of History, Princeton University

Category:

News & Politics

Tags:

• USD
• Dollar
• Collapse
• Weimar
• Germany
• Fiat
• Currency
• Economy
• Economic
• Gold
• Silver
• Why
• does
• bread
• cost
• $100
• Fed
• Federal
• Reserve
• inflation
• deflation
• Ron
• Paul
• Revolution

[chrikac]

You have to destroy the dollar if you want to stop deflation. The dollar is so strong now that it's destroying the economy. Deflation is just as bad as inflation if not worse.

PS - For you nut jobs out there, I am a gold standard advocate. And if you think the price of gold is going to sky rocket during a depression, perhaps you ought to research 1929 and 1930. Post your results here.

[rseveran]

The price of gold was fixed at $20.67 in the years you mentioned.

In 1933-34, the official price of gold at which the U.S. Treasury would make transactions was raised from $20.67 to $35.

[pj1681]

The price of gold really didn't matter to the private citizen or corporation after 3, April 1933. That was when FDR signed in executive order 6102 which made it illegal to hold gold with fines up to $10,000($110,000 today) and up to 10 years in prison. Also debasing the currency has never worked in saving an economy in all of history. Once this forced liquidation of American assets stops, the purchasing power of the dollar is going to fall like a rock and we will end up like the Wilmar Republic.

[rseveran]

Actually, there were a few exceptions.

Gold coin in an amount not exceeding in the aggregate $100 belonging to any one person, and gold coins having a recognized special value to collectors

There were some other exemptions, for industrial users, etc.

In the past few days the USD has indeed been falling like a rock.

[rexsojo]

Council on Foreign Relations is the school for the NWO, backers of central banking and the crimes against humanity for their secret agendas.

[sprayjc]

-After his little speech, Herman was taken out back and shot.

[pretorious700]

Jim is a brilliant man, I wish he got more coverage.

[abskebabs]

Sound economics at the CFR?? What is this world coming to?

[golfprobro4eagles]

Well there you go even the CFR is scratching there head. What the hell are they doing?

[xerosisonek]

It's not the sheep. It's the Shepherd. Goats go in the fire because they are willful. The sheep just need to stop following the wolves and follow the Good Shepherd, not become goats.

[Rizky06]

Let the World Fiat Empire Collapse!!!!!!!!!!!!!! In a Barter economy Goats are most Prized!!!!!! Baaaaaaaaaaa! but at least we won't be Sheep anymore!!!!!!

[RonRepublican]

"Give me control of a nation's money and I care not who makes her laws." Mayer Amschel Rothschild

[Cabanas751Dunhill]

Why the SILVER, any ideas?

[tgambill]

the gold will be confiscated after the dollar drops from sight and they declare a national disaster and martial law. The concentration camps are now authorized as I have been warning people in my area of influence by H.R. 645. The silver backs the AMERO, as hard currency. We paid China 800 billion AMEROS to pay a debt about 2 months ago,

[Cabanas751Dunhill]

Why silver, IYHO.