Like or Dislike: 0 0
Ate Bernanke kinda lol Ron Paul 2012
If you’re a Ron Paul supporter you’re making us look like idiots, please stop you are very wrong.
No you clearly missed the point here. I am a big gold investor, and saying it’s as silly as saying there is not enough trees for paper money is a joke of an argument to make. Are you just trolling? Trees don’t back currency. You probably should not be investing in something you have unreasonable expectations for. There is absolutely no data out there to suggest 60k an oz for gold. Zero data, you sound like Peter Schiff. Gold Fix is based on a several key points of demand. Be very careful.
I would drop it dude. This guy obviously has studied economics at a PHD level. He’s saying once the next financial collapse comes people will have such a huge demand for gold to protect their wealth. When people switch currencies to Gold the demand for paper money is zero. That’s how gold demand works fundamentally. Everybody knows that.
There is no such thing as gold not being able to reach a price to back the currency. The price is set by market demand and it can go to any price based on the demand.
Saying there is not enough gold is as stupid as saying there are not enough trees to print paper money. This is basic supply and demand which perhaps you need to understand before weighing in on the subject.
I think he’s making fun of you because like, you said, it is a function of price, and there is no function of price that would allow gold to reach a value large enough to back our currency. The availability of Gold at 60k an oz means the demand side for its actual realized consumption would no longer work, but I’m sure since you’re such an expert you’ve seen the resistance levels for this already, and hyperinflation throws any argument to that out the window.
It’s a very small portion of reserves. It is tradition.
he fucked up bernanke on that one. why do banks hold gold if its not money? uhhh its tradition hahaha
No there isn’t such a thing as “not enough gold”.
Your reply conveys nothing and refutes nothing.
The availablility of gold on the open market is a function of price – exactly as I stated.
Yes there is such a thing as not enough gold. Saying, “Its as silly as saying there is not enough trees for paper money.” – That is a silly thing to say. there is little gold in the market at $600/oz. There will be lots of gold in the market at 60000/oz. It is all a function of price. – THAT is even more ridiculous.
I can go on further about that movie if you wanted me to clarify some of the inaccuracies for you. When you learn about any subject you have to be very careful where you get your information. This film is highly misleading, as with many documentary film makers. There is a significant amount of speculation and inaccuracies. My professor brought it up because the majority of the public really believes these things, and it is unfortunate that people don’t read peer reviewed documents instead.
He also covers the job of the federal reserve during the crisis, and otherwise. Which is a little different than securing our money. I would highly recommend watching his lectures. Our countries biggest problem is not inflation. That is another economic fallacy. The data does not suggest anything like that. Our current recession is a problem, but things are vastly improved since 2009. There certainly are much larger problems facing the United States economy than the recession of 08 or inflation.
I’ve seen that movie, and revision, in its entirety, and although entertaining it was used as example by one of my professors of financial propaganda in a sense. Grignon himself states on his website that some of his descriptions, especially of fractional reserve lending, are misleading. It does fundamentally describe monetary systems correctly. All of which Ben Bernanke covers in his lectures. Also, covers inflation and how it’s caused, and what caused this recession as well as the depression.
well the thing that mr bernanke won’t tell you in his lectures is that without banks there’s no such a thing as inflation and recession which are the only problems of our economy. i suggest watching this :
‘all fed got is gold’ – by that i meant that the main obligation of FED is to secure our money. and as burnanke said himself due to tradition they do it by holding certain assets – gold.
I don’t know what you mean all fed got is gold according to the law? But I would recommend listening to professor Bernanke lectures on the financial collapse. It may help you see things in a little different light. Some of the things that Ron Paul says are bizarre, misleading, or just simply factually inaccurate.
I’ll tell you one thing as well. You should also keep learning economics until you figure out how overwhelmingly complicated things can actually get. LTCM is an excellent case study. Read books on derivatives, there are some excellent books on the depression, or even this financial crisis I can recommend if you’d like. Bernanke is probably the leading expert on both. He never taught at Harvard. Yes he does care about the price of gold, but to him its more like the VIX, or a similar index.
Now I’m just confused re reading this. Are you serious or are you just being ironic?
i’ll tell you one thing keep learning economy until you find its true nature – absurd. you’re not seeing the big picture. of course that bernanke could win any dispute with ron, it’s his subject. and not because he used to teach economy at Harvard but because he literally rules the money. there’s nobody in this country that can tell him anything. the guy doesn’t even give a squirt of piss about the price of gold, it’s just another asset to him. feel me? ALL FED GOT IS GOLD (according to the law)