The GAO exposed many conflicts after auditing the Federal Reserve. I’m glad the GAO exists, why wouldn’t you want this oversight? They are not a committee under the control of the Federal Reserve that is factually incorrect.
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The GSA…GAO their all crooks!
What ashame because gold has gone up! I guess only a few of us will benefit from this!
Holy shit I can’t believe this. Tell me specifically where the demand comes from for gold to reach a level that could back a national currency? Then tell me what the price would have to be against the money supply to have a Gold backed system? There was a the bank of England, they didn’t have enough gold. This is fucking history, not a thought experiment. Get over yourself, you arrogant uneducated dip shit.
Thank you for clearing that matter up! I just didn’t have the patience with PresciousMetal!
Congressman Paul has been talking about spending practices for 30 years!
This is the GSA if you read the GAO report in 2007 they suggested a major reform in spending practices as well as management.
You’re thinking of the GSA.
5:00 From this point to the end of the video, Bernanke hands Ron Paul his ass. Even his “…………. No” is just embarrassing for Paul….
This was so embarrassing for Dr. Paul….. his stance on gold is why I could never fully support him.
The GAO is under investigation for having a spending spree in Las Vegas and you trust them? Good luck!
“Is Gold Money” Let’s see, Gold and silver coin is Legal Tender in Utah, and is also except from tax.
South Carolina has given the go ahead to use Gold, and silver as “Real Money” and ten other states are considering to do the same.
Gold is real money in Singapore, financial capital of the world.
Gold can buy, Iranian crude oil.
Ron Paul- knows GOLD is real money, because he knows our CONSTITUTION!
The time has come Ben.
So there you go Alex Jones. The Central Banks are a form of reserve. They simply work under the Royal British Monarchy’s system, passed onto the Treasury, passed onto the Fed and everything beneath.
Ron Paul would like to believe Gold is money, but Ben is right, it’s an asset or in other words a raw material product aka it can be purchased with money. And as for the Treasury bills, central banks hold it as a form or reserve, because it’s an old tradition. This tradition, or rather old system, is a better term for it, was passed on by the Royal British Monarchy to the commonwealth nations. The Tradition of reserves and Treasury Auctions is what’s stalling nations from getting out of debt.
The GAO does nothing.
It is a bogus commitee under the control of the Federal Reserve itself. Its purpose is to fool the public into thinking there is accountability. There is none.
The GAO is a branch of the Federal Reserve and 100% useless as far as auditing goes. Its reason for existance is not to conduct an audit but rather to FOOL the public into thinking there is accountability at the Federal Reserve when there is none.
It is stupid that a branch that is supposed to audit the Federal Reserve under the Federal Reserve itself. You should do more research and drink less of the koolaid.
WHAT is the difficulty in understanding a simple concept?
The price of gold will rise to a point where to where supply meets demand. Whether that is $10/oz or $1000/oz or $10000000/oz, WHERE does the question of “not being enough gold” come into the equation.
If the price of gold is high, it means paper money has/is becoming worthless as per the market’s preception.
But sure as night follows day, I will get another message from some low IQ person saying “there’s not enough gold”.
Ya I recall that bloomberg article describing something like 9 trillion dollars in off balance sheet transactions. With LIBOR scandal I wonder how this will affect international swaps. I am pretty ignorant with these instruments. That’s why I’m buying palladium.
Um thank you? Here’s the last GAO audit for you gao.gov/new.items/d11696.pdf I don’t know why you told me about a bill that’s already blasted all over the news.