If you are voting obama-romney as bankers hope you will, you are throwing away your vote.
They will continue offloading trillions of market gambling losses of private banks onto YOUR back via backdoor handouts & money printing. Basically ripping you off.
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Gold is currently around $1700 an ounce. If there were no dollars, then what would it be worth? You can’t use dollars to measure the value of gold if there are no dollars. Gold would just become like paper money, but heavier. Gold has no intrinsic value. And it would be easier to manipulate because other countries deal in gold, too. The value of any commodity can be manipulated.
If Gold and Silver isn’t money, paper isn’t money either. Currency is based on faith – or else it won’t be accepted. The reason gold and silver backed money is better, is that it’s harder to ruin faith in the currency and debase it. We haven’t ever lived in a gold/silverb acked financial market, so it sounds strange – however; it would disable the government from running ponzi schemes like social security and running legal counterfeiting operations which only steal from the middle & poor class.
WHY DIDN’T BERNANKE RAISE INTEREST RATES IN 2006 TO REDUCE OR ELIMINATE THE HOUSING BUBBLE IF HE’S SO GREAT WITH MARKETS
Actually, I think the Fed does not have the gold needed to back up the American dollar let alone the currency of other countries in the world. That means that several countires would own the same bar of gold which would result in a outcry from the world unlike anything ever seen before.
Gold and Silver is not money? I thought it was one of the first types of money? My American gold eagles say 50 dollars on them. If I take a few into one of my local coin shops I would walk out with thousands of dollars. What more does it have to be to qualify as money? he is one of the reasons I started buying gold in 08. Crazy Ben!!!!
Google Senator Sanders web page about the Fed Audit to learn the details. I can’t post a direct link according to youtube rules for comments.
Sorry… Bernanke _feels_ like he needs to keep the Federal Reserves irresponsible behavior a secret from the public, because he knows he will lose his job when Americans find out they printed 16 trillion to bail out banks without the approval of Congress.
Tradition . . . Couldn’t it be more oblivious that the tradition argument is a lie?
I have to laugh every time I see Bernanke. He shakes, quakes, and shivers every time he’s asked a question. It’s like the thugs he surely must answer to when he returns from one of these sessions will beat and molest him if he fails to defend that most tepid of organizations, the FED.
Well…. It’s tradition.
He _feels_ like he’s doing the right thing.
no…Bernanke is not doing the right thing…because he is motivated to keep his job and to turn a profit for the federal reserve. Ron Paul’s only motivation is defending the constitution and saving America.
how safe is our election system? more specifically how easy would it be to rig an election?
currency is just an efficient representation/promise of wealth. i prefer to be paid in meals because thats where the moneys going anyway
BS comes out of Ben’s mouth and that’s that. No action taken or anything. There goes our money~~~
Our financial system, our way of life was sold out long ago, for a temporary fix, a project. A financial boon for those who did it. Now unfortunately, there will be two choices. Go back to backing currency with worth, or the slow/maybe not withering death of playing debt based monetary currencies. Either way it will be painful.
BTW, gold was never expected to go over 1000.00 dollars an ounce. If we audited Fort Knox? what would we find? I expect we all would be shocked.
Currency is not backed by a precious commodity, therefore worthless if the currrent economy goes under. Gold was taken back in the 1930’s from private citizens, to fund the Fed. This experiment has failed in all ways, they knew it then, you should know it now.