Ben Bernanke - US Dollar is like GOLD!

Central banks around the globe are trying desperately to avoid deflation, although in our
opinion inflation is the real danger as this quote from Ben Bernanke would confirm:
The conclusion that deflation is always reversible under a fiat money system follows from basic
economic reasoning. A little parable may prove useful: Today an ounce of gold sells for $300,
more or less. Now suppose that a modern alchemist solves his subject's oldest problem by
finding a way to produce unlimited amounts of new gold at essentially no cost. Moreover, his
invention is widely publicized and scientifically verified, and he announces his intention to begin
massive production of gold within days. What would happen to the price of gold? Presumably,the potentially unlimited supply of cheap gold would cause the market price of gold to plummet.
Indeed, if the market for gold is to any degree efficient, the price of gold would collapse
immediately after the announcement of the invention, before the alchemist had produced and
marketed a single ounce of yellow metal.
What has this got to do with monetary policy? Like gold, U.S. dollars have value only to the
extent that they are strictly limited in supply. But the U.S. government has a technology,
called a printing press (or, today, its electronic equivalent) that allows it to produce as
many U.S. dollars as it wishes at essentially no cost. By increasing the number of U.S.
dollars in circulation, or even by credibly threatening to do so, the U.S. government can also
reduce the value of a dollar in terms of goods and services, which is equivalent to raising the
prices in dollars of those goods and services. We conclude that, under a paper-money
system, a determined government can always generate higher spending and hence
positive inflation.

http://www.federalreserve.gov/BOARDDOCS/SPEECHES/2002/20021121/default.htm

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[metaltect]

Nice sub-text John. You know the programme for the US is pretty well prescribed now for all that listen. Auz and NZ are another story as there's not much analysis here. Of course all the problems with the US will not affect us and the Schiffs etc are preaching the virtues of both our countries...Have you determined a 'playout' for us once the US goes under?

[stellaconcepts]

the usd has been exported around the globe - infact, thats why its been as strong as it has for this long - any other currency would have crumbled decades ago -but being the world reserve currency, they could sell it off...

if the usd collapses... the world goes down with it. sounds insane... but it fits.

[ik999]

fort knox is empty

read up!

GATA (gold anti trust action committee)

[Brainman94]

Apparently there has been absolutely nothing in Fort Knox for decades - watch "The Money Masters" (very long but very good documentary)

[mssquirrely]

I've been duped long enough!! The game is OVER !!

[msungs]

F*#$ you Ben "Bubbles" Bernanke, F$*# the Fed, and f*$* your lap-dog "Owe"bama. You both along with the Federal Reserve as "Federal" as Federal Express are on a quest to destroy whatever little economic capacity this country has left. Get you money out before it is evaporated. Real money is gold and silver not your toilet paper dollars. The last person with any balls to try to stop you (JFK) was brutally assassinate by your criminal cabal. I am glad I fled the US.

[cantsleep812many]

Great video..Love the new format !

[rolficus]

god bless papa smurf

[aviomaster]

1280 $ per GOLD  ounce ...

[donniebrasco24]

the dollar is "fools gold" at most...

[PatriotTom1]

no new information to me but a what a great way to articulate !! and i usually hate videos regarding this type of information that plays music in the backround, but you pulled it off. nice

[EMPIRE0FLIES]

Apparently the illuminati are mining gold out of salt water. Where do I get one of those machines?

[stathisfull]

Bernanke, Geithner and other heartless capitalistic morons are still servind under this administration.. WTF is goin on with you american people? Wake up and hit the roads!!!!!!!!!!!!!!!!!!

[toshibavoodoo]

Good video