CNBC Ron Paul grills Bernanke, traders cheering 2008.02.27
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Uploaded by peacespeech on Feb 27, 2008
Congresman Ron Paul asks questions to Ben Bernanke during FED chairman testimony on 2008.02.27.
CNBC anchor Rick Santelli talks about reaction of traders in Chicago market during Ron Paul questions.
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intelligent analysis by Ron Paul. he is well briefed and understands the issues
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The simple fact that congress isn't up in arms over this, tells you where the criminal activity lies. If our president elects these scabs into power, then allows us the taxpayer to bail out wall street, then he simply needs to stand trial and jailed for this. If congress has the sole power to create our currency alone and doesn't, then we are going to need a prison big enough for them as well.
Our whole system needs to be gutted, and built again from the ground up.
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@Stephie49601: Yea you can talk without prompters and notes etc. when your telling the truth.. just sayin.
2 months ago 2
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@Timmy12688 Aaah thanks, thought it something to do with the lesser value of money. Happened to Nazi Germany too right?
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@nickgage1162 More money in the market, less it's worth total. When money doesn't have a backing, it's harder to tell what it's worth, because you can just keep printing how ever much you want. Printing such large amounts causes inflation. Timmy is correct. The "fake" money loaned to banks has to be paid back, with interest, so they owe more money than they got. So this magic money that bailed out big companies, raises inflation, which we, as citizens, have to pay with increased prices of goods.
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@nickgage1162 When the Fed "prints money" it is literally typing in money into a bank's account so no printing is actually happening. This causes inflation since there is more money available. The bank then owes the money to the Fed so it will have to pay it back with interest. So for every dollar that is printed that the Fed loans to our banks we owe more than it is worth: dollar that was loaned + interest = our debt.
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He keeps looking at Ron like, "i know it's destructive to devalue a currency, but how else do you expect us to stay rich and powerful?"
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Can anyone tell me why when you print more money you go into more debt? Only aspect of Ron Paul that I don't understand
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I love how Ron free styles everything. No note cards, prompters, etc. Just the honest truth. And honestly, I don't think congress can handle the truth.
Stephie49601 5 months ago 56
Ron Paul will relieve Obummer of his job in 2012!
miazagora 6 months ago 13