Gold used to be money as our dollar was backed by gold, so u could pay with paper money, but the real value was in the gold stored by the gov’t. now the dollar is backed by nothing , other than a computer generated amount of wealth, which essentially means its worth nothing.
they hold diamonds for tradition…..are you fuckin serious. I guess I go to work to hold money as a tradition too…..bernanke has got to think people are stupid
It scares me how dumb you people are. . What is even scarier is that you all believe in right and wrong and are willing to kill and enforce it with guns. Yet even scaryier is that you don’t realize everytime you vote you vote to control people with force and vote for tryanny. Votes should be made with the exchange of needs and wants on a daily basis not a vote yearly. That is the only way freedom will last. You silly earthlings!
Money should be an equal caloric exchange of needs and wants. It does not matter what you use as money as long as it is rare and hard to duplicate. Gold can just as easily be duplicated if not easier than currency. I think everyone has forgotten money is not a comoditity and can not be eaten. When it is treated as such a nation will fall soon after. Gold five thousands years ago had no caloric value until present day becasue of technology. It is no used in electronics bc it is a great conductor.
END THE FED
Exactly. Glad we agree
in many countries, you can actually make deposits and exchange currency with regards to ounces of gold. so yes, gold is currency.
Yes and it was done to stimulate consumer spending, but that would be theory based on behavior rather than on any technicality. I would say if the dollar were worth more today, prices would go down and spending would go up, and then no more deficit. That would be based on normal market activity. And yes I agree with your comment.
But gold isn’t held as currency… frankly, I don’t know where Paul was going by asking Bernanke if it was money or not.
What makes you think he’s backpedaling?
Everything Bernanke is saying is correct… Ron Paul really doesn’t know what he’s talking about. An his thinking for monetary policy is really, really frightening.
oh bad Benny, what are we gonna do with you?
bad monetary policy by FDR is not a reason to leave power in the hands of the Fed. FDR was only able to manipulate the price by making it illegal to hold in private hands.
Finally back, gold’s price can change due to it’s rarity/lack of, and ever since FDR, can be manipulated but that was by him and not the fed, however the problem was monetary inflation and can still be today with the fed printing up too many dollars.
I’m just a regular guy..man this is scary. Seeing Bernanke back pedaling..what is going on???
What’s comical is the uneducated and misinformed overreaction that is being spewed by most comments on this video. And I think calling someone “zionist jew scum” or “America’s enemy” or “the devil” can classify as rage.
Your utter arrogance is comical. Continue following your love for entertainment, it keeps me employed.
Sign up to receive free email updates from the RonPaul.com grassroots with the latest news, videos and liberty action alerts.