Ron Paul Asks Ben Bernanke: How Do You Define a Dollar?

Ron Paul confronts Fed Chairman Ben Bernanke on monetary policy, and says that Fed policy has not helped to stabilize the economy over the last 30 years or so. Paul asks how the Fed can manage monetary policy if it doesn’t have a definition for a dollar. And, he adds, gold is the true long-term measurement of value

Date: 03/02/2011


  • ProgressiveInAmerica

    How do you define a batshit crazy racist Nazi who smells like poop?
    Ron Paul

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  • ProgressiveInAmerica

    If you want to define the word dumb fucking idiot, then just say Ron Paul.

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  • YoungSeungSKY

    remember remember the November the Fifth….

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  • Badjohn007

    I’m sorry but Ron Paul is pissing in the wind. He’s not going to change a damn thing. The reality s gold is just another inanimate object designated value by men which is why a paper dollar is now the world currency. The evolution of currency won’t be a return to the gold standard but rather a cashless society. This was figured out long ago. Technology has changed the landscape and things will never be the same.

    Like or Dislike: Thumb up 1 Thumb down 7

    • Libertarian777

      another person with a fundamental lack of understanding of Ron Paul’s stance and the function of money.

      The fact that a society is moving technologically towards electronic exchange does not mean there needs to be no backing to a currency.
      Just because I do an online bill pay on the internet, there is still cash that is being transferred, albeit only via a book entry on my bank and your bank, but the currency itself is still there.

      On the other hand there are purely digital monies such as bitcoin which is an alternative.

      Ron Paul is not saying everyone has to use a gold and silver standard. He is wanting competition in currencies. He is saying that, as stated in the constitution, the GOVERNMENT is restricted to coining money in gold and silver. Additionally gold has a 5,000+ year history of being used as money, and he suspects that in the long term people will still revert to gold.

      He wants to get rid of legal tender laws, and open competition in money. Then people have a choice of which money they wish to use, be it a gold or silver coin, a gold / silver paper receipt, a gold / silver backed electronic entry or an electronic entry that is nothing more than an accounting entry (this actually is exactly what a ‘share’ in a company is nowadays). If you wanted to save all your earnings and get paid in facebook credits that would be your choice.

      My choice would be to get paid in gold and silver. Electronic accounting would be fine, provided the custodian was audited monthly.

      End of the day, you and I do not have a choice of which currency we wish to utilise to exchange goods and services for.

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    Bernake is so full of shit!

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  • noncontributingzero

    If people don’t want to buy gold then why is it $1400 per ounce?

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  • iLitka

    How much does Ben Bernake hate waking up in the morning on the days when he knows Ron Paul is going to be waiting for him at the office?

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  • jennalos

    im canadian and i love listening to this man talk. if he doesnt become the next president i hope he moves to canada because we need more people like ron paul. end the fed v is for vagina and victory ……. both are good :)

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  • 9992ube

    Even you toothless hillbilly trailer trash have experienced the deflation (negative inflation) that Bernake has talked about. Deflation is when the price of a S&W Sigma .40 (or 9mm) drops from $400, to $350, to $300, to $272. Google (Shopping) “S&W Sigma”. Savy yet?

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  • pryorka82

    inflation has been around 2% for the last few decades” HAHAHHAAHA….oh wait.. he was being serious.

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  • Vigilance4Life

    Bernanke has been smoking too many greenbacks! Buying power of the dollar? FAIL

    Ron Paul for President 2012

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  • Vigilance4Life

    go to AuditTheFed – com website to sign petition to Audit the Fed.
    Also, I highly recommend you check out the video on here titled

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  • HolliValsMusic

    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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  • scottymac604

    Another excercise in double-speak.

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  • ArizonaSean

    His definition of inflation seems to be different then Mr. Paul

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  • nicoSF5

    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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  • royalred

    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!

    Like or Dislike: Thumb up 4 Thumb down 0

  • TheBiscuit08

    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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  • 9992ube

    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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    • Libertarian777

      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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    • TrueIsTrue

      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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  • aristotlestudent

    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.

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