I agree Ron Paul just tells it like it is, americans can relate to that. I think folks are coming around, americans now can see thru the liquid sunshine.
My criticism was of Ron Paul's ramble. Bernanke rightly did not attempt any serious reply to Ron Paul's jumble of generalities. It is inflation at a fairly modest rate, year on year, which erodes the real value of the dollar and the value of other currencies in their own countries. The dollar is only a store of relative value at any moment in time. You must choose for your dollars, assets which you hope will increase at, or preferably better than, the rate of inflation. Or you will at least need your savings in dollars to have a yield greater than the rate of inflation.
At the end of the video Ron Paul tells bernanke that when the dollar drops by 10%, Americans lose 10% of their wealth. Bernanke responds by saying the obvious which is how Americans are not importing everything they buy so you cannot say -- with intellectual integrity -- that a 10% fall in the dollar = 10% decrease in wealth. Ron Paul then starts talking about some crap, "not if they have all their money in CDs", not even related to his dollar statement. Ron Paul really pretends to know more about economics then he really does but he comes across like a total fool.
<i>"I am a fan of Ron Paul, but he was out of his depth.</i> That is true, but at least he tried. Millions of strapped U.S. consumers appreciate the effort of attempt.
???!! The rise in commodities prices is not just inflationary. It is evidence of inflation. One reason why inflation in general is not up more is because some other items cost less than they used to. Another reason has to do with how the Feds actually define "inflation"--and I have neither the energy nor time to go over that now!