Date: 03/02/2011
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Ron Paul Asks Ben Bernanke: How Do You Define a Dollar?
258 Responses258 responses to “Ron Paul Asks Ben Bernanke: How Do You Define a Dollar?”
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Bernanke has been smoking too many greenbacks! Buying power of the dollar? FAIL
Ron Paul for President 2012
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go to AuditTheFed – com website to sign petition to Audit the Fed.
Also, I highly recommend you check out the video on here titled
“HOW TO TAKE OUR COUNTRY BACK (full)”
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I see two options. Either something gets done to end the current system and it leads to a certain amount of chaos or the system crashes itself and it leads to a major chaos.
There has got to be a smooth alternative, like gradually going into a debt free money system.
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Another excercise in double-speak.
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His definition of inflation seems to be different then Mr. Paul
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Did he even answer the question? I never understand why these guys can never give a straight forward and honest answer. Why do they always have to beat around the bush and mislead people?
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Forget about gold or media of exchange. I want Bernanke to explain to me how the interest can be paid back if only the principle is created in the money supply..
I’m all ears on that one!
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Sure would be nice for the US to be able to get back on track.This country has been screwed over by the dictators for way to long. Just think if the price we pay for things went back to where it was in 1980 or so,then pull the plug on wall street and freeze the prices. Hum what might happen then? Just a thought?
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Gold, silver and bronze were the first issued monies because THOSE WERE THE ONLY METALS AVAILABLE IN THE BRONZE AGE. If they could have printed paper they would have. Money is simply a government sanctioned media of exchange that can be substituted and exchanged for any material like bread, wheat, fish, horses, cars, homes, etc.
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this comment is a fail on so many levels I almost don’t know where to begin.
So gold, silver and bronze were available in the bronze age, thus the federal government then mandated money to be made from these metals? I had no idea the political system was so advanced in the bronze age that a central federal government existed.
There has been since time immermorial a free market for money. Central government paper currency is a new phenomenon. Prior to this ‘paper’ money were receipt claims on hard assets (gold/silver). Gold and silver ultimately were the only forms of money that were accepted in free markets over time as they contain the essential properties of divisibility, durability and portability. Even when kings and emporers debased their coinage, the public still sought gold/silver coins, but ones that had not been debased.
Sea shells, wood etc. were all used as forms of money in years gone by. NONE of those were ‘government sanctioned media’. It was a free market that decided upon such medim of exchange.
Have you ever read even a single book about money or do you just make up stuff in your head?
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LOL! LOL! LOLOLOLOLOLOLLOLOLOLOOLL!! I cannot believe the logic of this comment. You mean to say that thousands of years ago they couldn’t have printed money on (leather, limestone, iron (they had nails), or any other super cheap material). NO they chose to print on silver and gold for a reason.
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Ben Bernanke, you lying pig.
I understand you are the front man. We have lots of front men. In fact, it seems, that’s all we have. No complaint is truly effective though unless a solution is offered.
Here is my solution or at the very least, my one step towards fighting back:
Realize we have been in an undeclared and covert war. There is no law. Treat your fellow man justly but do all you can to strip the banks, corporations, and politicians of power.
Pay nothing back to them.
1776
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YOU KNOW THE COCK ROACH IS an interesting creature. some of the present day politicians. I like to, liken to what I call a parasitic cockroach.
THANK GOD RON PAUL AND HIS, IS NOT ONE OF THEM. GOD BLESS RON PAUL AND ALL OF HIS. GOD BLESS
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Bernake is a cow.
Ready to be milked by his true captors that he enjoys.
HOW DOSE IT FEEEEL BEN?????
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Water-board him, Ron!!!
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It’s funny how Bernanke is blaming the financial crisis. Ron Paul and Peter Schiff have been talking about the financial crisis for so long and no one listened, not even Bernanke.
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Warren Buffet on Gold: “Gold gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head.”
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Ron Paul is a drooling moron. I agree with the guy below. Bernake is wondering how low the averag IQ must be in Ron Paul’s district. Also, Gold costs $350/oz to mine, smelter and stock. How long will the facade of $1400/oz value be sustained for a commodity with no industrial use.
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and yet the average federal note costs between 6 and 7 c to manufacture.
Aliens from Mars must be wondering, people plant trees and cotton, cut down the tree and harvest the cotton, press it into flat sheets, put some green ink on it with a couple zeros, then put it in a vault and pay people to guard it. Not only that, they are willing to part with a hard physical asset in exchange for this pretty paper that’s marked with green ink. The only difference being how many zeros are printed on the notes (they’re all the same size, colour and texture).
I can’t eat a federal reserve note. It has no utility (I can’t even coat my earphone plug for better reception with green cotton paper, the signal doesn’t come through clearly).
Why do we pay people to cut down trees and harvest cotton for something that has no utility?
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The look on Bernanke’s face says, “How did this man out of ALL the men in Congress get this position? *Groan*”
But Dr. Paul’s point is excellent. The dollar has no definition. To say that it is it’s value is its relation to buying goods is ridiculous since the value is constantly changing. The dollar is supposed to be of value, which means gold, and THEN it has the power to truly buy goods.
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Here we go again, can’t get a straight answer from the FED Chairman… What a sad joke… There is no definition of a FED Dollar… Bernanke knows this but will not be straight with this honest man… So after all this double speak, what is the definition of the dollar?
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A dollar is supposed to be 1/20th of an ounce of gold….thats it.
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You’re correct in that the dollar is a medium of exchange, but a more accurate term is that the dollar is currency, not money. Money is a store of intrinsic value. The dollar is a piece of paper, that has no intrinsic value other than what it can be exchanged for. It doesn’t store value in and of itself, and with the flooding of printed dollars into the market, its value will eventually return to its intrinsic value… which is the small store of heat energy released when its lit on fire.
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added to this, a Federal Reserve Note, the green piece of paper you use, is NOT a dollar. It is a receipt/claim on a dollar.
$1 coins issued by the US Treasury are actual ‘dollars’. The fact that FRNs are currently accepted to be substitutes for $1 coins doens’t actually make them dollars.
Nickels are currently the only worthwhile money issued by the US Treasury.
You’re spot on though.
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You’re correct in that the dollar is a medium of exchange, but a more accurate term is that the dollar is currency, not money. Money is a store of intrinsic value. The dollar is a piece of paper, that has no intrinsic value other than what it can be exchanged for. It doesn’t store value in and of itself, and with the flooding of printed dollars into the market, its value will eventually return to its intrinsic value… which is the small store of heat energy released when its lit on fire..
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We need to, as a people to round the filth up tie them to a post or thowe them in jail with the familys, their just as bad if not worst! When is that going to happen.Lets put and end to this once and for all every 40 to 50 years this crap keeps on comeing over and over?
Give them hell Mr Paul go. Ron Paul in 2012
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We need to as a people to round the filth up tie them to a post or thowe them in jail with thet familys their just as bad if not worst! When is that going to happen.Lets put and end to this once and for all every 40 to 50 years this crap keeps on comeing over and over?
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a dollar is money. money is a medium of exchange. something everyone can agree on to measure the values of goods and services. like an escrow or a third party that holds purchasing power until it’s needed.
that’s what Ben meant to say I’m sure of it.
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Sometimes you can’t see the problem because you caused the problem. Respect.
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Hello Mr. Frowny face under Paul.
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how dumb is ben bernanky…or is he just blind to the whats really going on? “over the period last 25 years, or so, the stability of unemployment has been much greater then it has been in previous decades”…what? can u say welfare state
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how dumb is ben bernanky…or is he just blind to the whats really going on?
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listen to the last statement at 5:11.
who does this asshole think he is fooling? they just don’t give up, do they? propagating lie after lie….. eventually we know where that gets us… back to another lie. is anyone pissed yet?
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bernanke needs a bitchslap.
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I did this… I had 12 $100 bills, I asked my son, 14, and his friend What is money? Crumpled the bills, threw them all over. Most were recovered, but I think my 4YO grandson got a couple, he knows them for what they are, green pieces of paper without much room left to color on!
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4:05 looks like Bernanke is showing him the finger.
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a word for those that are not sure what to have as a game plan for the looming crash of the dollar and all the hell that will fallow. i would advise learning to live off the land and all that is provides and to train up on survival skills also.
Its like this, when the shit hits the fan do you want to just stand around an hold up in your homes waiting to be rounded up and hold off to a fema camp or just flat out killed. i sure hope that you all are smarter than that and take pre-emptive steps.
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All I could hear when Uncle Ben was talking was a low droll tone in my ears. Did he say he didn’t care if we like it or not? Did he say he and his posse were going to bring us to our knees for New World Odor?
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What is up with that FAT HEAD in front of the Honorable Dr. Paul? It’s so distracting! Is that Peter from Family Guy? I keep hearing the theme song from Family Guy when I see that fat dude’s fat head. Is that Fatty Arbuckle? Talk about too much fat in Government! Cut the fat!
End the Fat…I mean Fed.
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