131 responses to “Ron Paul: Inflation Statistics Are Rigged, Bernanke’s Money Printing Is a Total Failure”

  1. Teresa Beghin

    Teresa Beghin
    April 2, 2012 at 11:04 am | Permalink | Reply

    Are people not paying attention to the way this Country has been run in the last 15+ years??? My goodness, Our Country which is supposed to be a free nation with a Constitution in place to protect our rights is slowly deteriorating. Pay attention to what President Bush passed with the Patriot Act… And then Obama with his NDAA Bill. Are you not affraid of what is happening all around you??

    Why is it that the Federal Reserve is so secretive? Why are the doors locked so tightly that not one person..no matter who it is can verify what’s really in there? I am shocked at President Obama’s actions. He has done the complete opposite in what his campain was all about. I really can’t remember one thing he’s done that he promised to do. It’s really all been a huge lie. He’s actually done the complete opposite than what his promises were all about in his campain.

    What makes this so bad is that even I voted for President Obama. After learning about who he really is and his devotion to the Koran…NOT America and the Bible or this Countries Constitution, he could care less about it. Think about his Birth certificate, SS# and most of all proof that Obama is NOT qualified to be our President, he wasn’t even born in this Country. Obama actually scares me with his actions…it’s all spend, spend, spend with Obama.

    RON PAUL is our answer. He upholds our Constitution and our rights. Ron Paul believes in America and making peace with the World…not war. Ron Paul wants to bring all our troops home immediately and stop the spending with these wars our current Government created. You know…we are actually the terrorists, The Middle East wasn’t our enemy until 1992 when we started bombing innocent villages, Women, Children ect.. for no apparent reason. Please read up on the subject, you can find plenty about it on the internet. I really hope that more people in this Country wake up and start reading about what’s really happening all around us. If they do, they will find that our Country and it’s Constitution that brings us our freedom is in REAL trouble. Funny thing is that I have always been a Democrat but because of President Obama I have now switched over to Republican because of Ron Paul and what he stands for. Ron Paul is a true fighter for our rights and I believe in him and so do our troops along with many college students….they are our future and have to deal with the mess that’s been created.

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  2. macryan19

    That’s what you were brain washed to believe. The Fed is incredibly “for profit”, billions upon billions of dollars for profit and it’s been proven over and over. Look at the 400 some billion they have stashed over in Switz with the rich. Our entire country is ran by private off shore bankers, our Presidents are puppets for the public. Learn the truth.

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  3. delquadro691

    According to Gandhi, every revolution goes through four stages…

    ☑ First they ignore you (Pre-2007).

    ☑ Then they laugh at you (2007-2008).

    ☑ Then they fight you (2008-2011).

    ☐ Then you win.

    Join the R[̲̅ə̲̅٨̲̅٥̲̅٦̲̅]ution…, Ron Paul 2012.

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  4. Harry Hobart

    they’re done in a different way now and the old way says 8-9 percent which makes a lot more sense to my mother who goes grocery shopping and has seen the increase in food prices. 2 and a half percent inflation my ass.

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  5. theeonionbagel

    they’re done in a different way now and the old way says 8-9 percent which makes a lot more sense to my mother who goes grocery shopping and has seen the increase in food prices. 2 and a half percent inflation my ass.

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  6. Hayley Hatton

    I’m not sure I will agree that CPI is “rigged”, but what *is* intriguing is that the Federal Reserve ceased publishing M3 money supply statistics just as it began to monetize the bailouts and stimulus spendings. Even if you’re not an Austrian economist, that should raise an eyebrow.

    Also, Keynesianism (well… Monetarism really, but that’s just supply-side Keynesianism) causing stagflation? Who would’ve known?!

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  7. Hayleyfire929

    I’m not sure I will agree that CPI is “rigged”, but what *is* intriguing is that the Federal Reserve ceased publishing M3 money supply statistics just as it began to monetize the bailouts and stimulus spendings. Even if you’re not an Austrian economist, that should raise an eyebrow.

    Also, Keynesianism (well… Monetarism really, but that’s just supply-side Keynesianism) causing stagflation? Who would’ve known?!

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  8. Michael Sokolow

    Ron Paul finally got something right: decreasing the purchase of bonds (contractionary monetary policy) will decrease the interest rate. But does he really think the Fed should pursue contractionary policies while the economy is recovering from a recession? And does he really think Congress will finally agree to cut government spending due to higher interest rates? If possibility of defaulting on our debt won’t do it, and their constituents won’t understand the concept, then why would they?

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  9. trumpetplayer444

    Ron Paul finally got something right: decreasing the purchase of bonds (contractionary monetary policy) will decrease the interest rate. But does he really think the Fed should pursue contractionary policies while the economy is recovering from a recession? And does he really think Congress will finally agree to cut government spending due to higher interest rates? If possibility of defaulting on our debt won’t do it, and their constituents won’t understand the concept, then why would they?

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  10. Michael Sokolow

    The Federal Reserve is a cartel? Competition from banks providing other currencies should be permitted? Does Ron Paul think the Fed is a for-profit corporation? The Fed doesn’t sell us the money supply. It has consistently utilized open market operations in an effort to stabilize unemployment while minimizing inflation. When unemployment is high and Real GDP is stagnant/decreasing, the Fed buys bonds, and vise versa. The effects of monetary policy are right out in the open.

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  11. trumpetplayer444

    The Federal Reserve is a cartel? Competition from banks providing other currencies should be permitted? Does Ron Paul think the Fed is a for-profit corporation? The Fed doesn’t sell us the money supply. It has consistently utilized open market operations in an effort to stabilize unemployment while minimizing inflation. When unemployment is high and Real GDP is stagnant/decreasing, the Fed buys bonds, and vise versa. The effects of monetary policy are right out in the open.

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  12. Michael Sokolow

    Ron Paul doesn’t seem to comprehend even the very basics of macroeconomics. The fact that he opposes the Fed seems to cause viewers to believe that he is some sort of economic genius whose distrust of the government equates with factual correctness. He consistently concocts data and demonstrates his ignorance of the situation throughout this appearance. The Fed may very well be lying to us all under a shroud of secrecy, but that doesn’t make this man any less inept.

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  13. trumpetplayer444

    Ron Paul doesn’t seem to comprehend even the very basics of macroeconomics. The fact that he opposes the Fed seems to cause viewers to believe that he is some sort of economic genius whose distrust of the government equates with factual correctness. He consistently concocts data and demonstrates his ignorance of the situation throughout this appearance. The Fed may very well be lying to us all under a shroud of secrecy, but that doesn’t make this man any less inept.

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  14. Michael Sokolow

    The Fed doesn’t print money. The CPI DOES incorporate food and energy costs. Unstable housing prices are not a consequence of uncontrolled inflation. To say that we cannot anticipate a higher price level as a consequence of buying bonds (expansionary monetary policy) is to entirely ignore all of our knowledge of the effects of monetary policy.

    “And now investment will continue…”
    Continue to…? Ah, yes, INCREASE, as interest rates decrease due to purchase of bonds you so despise.

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  15. trumpetplayer444

    The Fed doesn’t print money. The CPI DOES incorporate food and energy costs. Unstable housing prices are not a consequence of uncontrolled inflation. To say that we cannot anticipate a higher price level as a consequence of buying bonds (expansionary monetary policy) is to entirely ignore all of our knowledge of the effects of monetary policy.

    “And now investment will continue…”
    Continue to…? Ah, yes, INCREASE, as interest rates decrease due to purchase of bonds you so despise.

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  16. cbrow135

    He wasn’t the chairman of the fed, he was the chairman of the congressional committee overseeing central banking. There is a huge difference because an overseer of a committee can still oppose it without being hypocritical.

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  17. WhyNotJackW

    VOTE FOR RON PAUL!!!

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  18. oldereb38

    Paul tells it like it is. The Ponzi scheme Fed stole $8.4 TRILLION from the auctions of Treasury securities last year. Congress never asked about it. It is embezzlement that is leading to national bankruptcy. Ref. 3w scribd dot com message 49040689.

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  19. George Washington

    If I may, please;

    America I beg of You. Look into Ron Paul’s issues. This guys is as genuine as they come. Mr. Ron Paul is the American system working, literally handing us the “right guy.”
    He puts his nation/Constitution first before himself as his 22 year track record indicates.

    Please, Mr. Ron Paul for Republican Nomination and then President 2012.

    Thank You

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  20. ggeorgewashington

    If I may, please;

    America I beg of You. Look into Ron Paul’s issues. This guys is as genuine as they come. Mr. Ron Paul is the American system working, literally handing us the “right guy.”
    He puts his nation/Constitution first before himself as his 22 year track record indicates.

    Please, Mr. Ron Paul for Republican Nomination and then President 2012.

    Thank You

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  21. NZer

    Monitary theory is no where near as complicated as it is made out, and basically people have a good understanding of how it ought to work based on their understanding of currency (that’s doller bills and coins). This is the way that money used to work in practise when most of the money people used for trade was actually doller bills and coins. Now this makes up a fraction of the money traded (a fraction like 2%) the remainder is bank credit which is simply created as accounting entries by banks and only has a fraction of the physical currency to back it up actually in existance. This is possible due to fractional reserve banking.

    If everybody was able to print their own doller bills this would cause inflation. If everybody was able to extend their own bank credit at low (currently zero in the US) interest rates then this will clearly also cause inflation. It is illegal to print doller bills for precisely this reason and it should not be legal to create bank credit for the precisely the same reason, especially as this privilege is only available to a select group now (called banks).

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  22. NZer

    Ron Pauls extremely liberal views rather slant the picture. The real problem is caused by the fractional reserve banking system which causes boom and bust cycles and (often poorly) distributes capital through the economy, this includes the recent crash in 2008. Of course this is what Ron Paul is advocating to fix by a return to the gold standard, but this is something which has been tried before and it didn’t work then because the same people were in charge of allocating credit (the banks) and they did it in their own self interest (which creates the bubbles). The point is that they will create and structure lending to support certain areas of the economy which they feel are most deserving and so earn a commission for this, but they often don’t get caught out risking their own capital when their plans collapse (due to the bubble).

    He is absolutely correct that the FED is responsible for this but blaming the national deficit on the government is really ignoring the scope to which the FED and private banks can expand or contract the money supply by extending or calling in credit (this is what happened in 2008). Basically if you think that the government is bad at allocating resources towards the best use in society you should see what a bad job the private sector does of this when they can turn a profit doing so.

    There should be a federal reserve like entity but instead of trying to control the size of the money supply through the indirect setting of interest rates they simply control it’s size by growing or shrinking it in line with inflation targets (these could be zero which appears to be Ron Paul’s ideal, but in this case new money might still need to be created or destroyed due to an increase in the population using that money supply). It becomes illegal to expand (or contract) the size of the money supply by extending bank credit at the same time, in the same way that counterfeiting currency is illegal now. The new money created would be handed to the government of the day to spend into the economy on goods and services, which will be the part that Ron Paul’s will not like.

    Once you have a stable money supply which no longer creates interconnected boom and bust cycles, massive inflation (compare the US$ cost of a house in 1970 and today, it’s called inflation) then he and other republicans can focus on their liberal agenda/shrinking government.

    There is already a bill proposing this in the US congress
    http://www.govtrack.us/congress/billtext.xpd?bill=h111-6550
    and similar proposals in the UK
    http://positivemoney.org.uk
    Fractional reserve banking is the problem and caused the 2008 crisis. The reason that everything is connected and the reason that both QE and deficit reduction are not effective are clear, they are neither of them addressing the real cause of the problem. This is not republicans versus democrats it’s real economics vs fractional reserve banking and the economic myths supporting it.

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  23. james kang

    So funny, Bernanke held his annual public press meeting on the exact day Ron Paul took a break from the floor.

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