1983: Ron Paul Debates Federal Reserve Governor 3of7

debate on the Gold Standard, featuring Congressman Ron Paul and Charles Partee, member of the Federal Reserve Board of Governors. This debate took place at the 1983 Capital Hill Gold Standard Conference in Washington, DC, which was hosted by the Ludwig von Mises Institute.

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News & Politics

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• ron
• paul

[RonPaulVoters]

Great Video! Ron Paul knew way back then what our own policies were going to do to our country! We have bankrupted ourselves, we owe billions to China, we're not safe, the dollar is worth crap, our government is wasting and stealing trillions & our freedoms are staring to be taken away.

Vote Ron Paul 2008!

[Curlz31]

Partee is full of it. Ron Paul 2008!!!!!

[RKAddict101]

@macroman52 My bad, I agree, the gold standard should be a free standard (people are free to choose whatever standard they want) and fractional reserve banking should be known (aka people need to know if they are entering into a fractional reserve banking system).

[macroman52]

@RKAddict101 On both those points the private sector (not government) acted over the 18th and 19th centuries to mitigate the bad effects on business of the gold standard. Lack of money, deflation, was the main problem the business sector saw. So private business developed credit instruments to overcome the problem. The gold standard and banning fractional reserve banking is NOT free market, it requries heavy-handed control by the state (which is OK with me if that is what you want).

[RKAddict101]

@macroman52 1) Yes, perhaps that should be outlawed. 2) There is no inflation with a proper gold standard? (unless new gold comes into the market of course)

[withowlseyewatch]

Would you like to know who the right and honorable gentleman is who impersonated Mr. Partee. None other than L. Ron Hubbard!! This debate was set up, not for LRH to oppose the gold standard, but to give the argument that a member of the FR Board of Governors would give, were one to give an argument against the people. LRH's performance is brilliantly executed. He sides with us, not against us. LRH committed a great act of heroic courage. His appearance is altered but not his identifiable voice.

[macroman52]

The cheer squad fore the gold standard shoudl actually listen to soewm of the points made by the poor (yes he doesn't speak too well, but he did have some points)

1. the use (and abuse) of paper money started in the private sector (as did fractional reserve banking which may be also something you dislike).

2. the rate of increase in gold supply does not keep pace with inflation and production - this is not a trival problem

[SanieClaws]

Uahhh. Uahhh! That make uhh in fact uhhhhh the growing need for this growing monetary standard....uhhh for me..... uhhh

uhhhh

Uhhhhhhhhhhhhh! Too hard to listen to him.

[degenerate82]

all this guy needs is a top hat and monacle to be a full fledged MONOPOLY MAN

[RMT87]

LMAO! uh uh uuuuh UUUHH UUUUUUUH. was laughing so hard almost cried. UUUH.

I feel sorry for his wife. He must sound terrible in bed. uuh uh uhhhuhh uh huuh UUUUUUUH.

[majikninja07]

The reason RP never pauses and says uhh ummm uhhh well ummm is he writes his own speeches and doesnt read what other people want him to say, and this guys monotone makes me sleepy anyone else?

[thej762000]

I thought the Bretton-Woods gold standard was only good for backing the US govt debt internationally, not for backing Federal Reserve notes domestically (after FDR's confiscation in 1933). Am I wrong on that?