Must see, question by Ron Paul to Ben http://www.youtube.com/watch?v=RbG2xTYJ5Z8&feature=related sorry mods, maybe this should go under economy ?
Ron Paul is the only reasonable political choice ...if one wants to witness constructive change in the US... Bernanke ...is what I call... BEING EDUCATED BEYOND ONE´S INTELLIGENCE
Middle class is already "wiped out"...their just to ignorant to understand. Meanwhile, they continue to get more into debt ignoring the facts. Oil is going a lot higher, we may have a pull back, but its going a lot higher...Peroid. Thus, Is the Fed going to cut rates to ZERO?
huh? bernanke did quite a good job at explaning why ron paul is yelling at the wrong person. the fed doesnt publish the cpi they simply have a mandate to keep it stable, gold standard is up to congress decide not bernanke, empirical evidence shows that money supply and inflation have a relationship but its not a perfect one(anyone looking at the eurodollars deposits numbers in m3 and thinking inflation is at 10% is a moron)
They will never go back to a gold standard. If they did then they'd have to stop spending more than they have. Right now they count on inflation to get rid of U.S. debt. This inflation is exactly how they intend to keep Social Security functional. They promised everyone X dollars at age 65, but they never said what X dollars would buy. Today's dollars will always be worth much more than tomorrow's dollars. That's just a fact in today's world, and everyone will need to get used to it. They say a fool and his/her money are soon parted. Well, now the government will let the fools keep their money, but the money itself will have no value. The fools aren't usually smart enough to figure out what's going on and who to yell at, so this is a way for the government to increase taxes without getting any blame. Just think of it as a stealth tax. -Raystonn
Congress doesn't control money supply, The Fed does. We no longer have access to M3. You might want to look in the mirror to reassess who the moron is. The same basket of items from Thanksgiving 2006 to Thanksgiving 2007 has increased 11%. THe energy used to go to the same supermarket has increased more than 20%. You can believe hedonics. We will believe the truth. Go stand in line and get your RFID chip implanted buddy, you need it, you have to have it.
Excellent Commentary..... Which is exactly why true currency banks are needed.... There is a need to be able to tranfer to the currency of choice...and actually receive the stated rates set by the Central banks.... There are a few attempts at this....but their rates are ridiculous... Thus one would look forward to.... ie... 1.1x1.07x1.11x1.15x1.11....... This would better capture the fiat currency peer game....
The real force behind inflation is deficit spending. Nations in the 20th and 21st century that were facing out of control growth in debt have sought to monetize that debt and inflate their way out of it. The US is no different. Unless we can break out of our war mentality, and that would require that we stop glorifying war, so it would be almost impossible to achieve, we are doomed to becoming a second rate economic power. Nevertheless we have done pretty well with our two hundred plus years. The next hundred will be downhill.
Most news networks cut away when Paul came on to make this opening statement and house.gov failed to archive it.