Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011 Video

July 13, 2011 - Congressman Ron Paul questions Federal Reserve Chairman Ben Bernanke in a U.S. House Financial Services Committee Meeting shortly after reports surfaced that the Federal Reserve was preparing for a third round of quantitative easing.

Click on the following link for analysis from Campaign for Liberty:
http://www.campaignforliberty.org/profile/7677/blog/2011/07/13/ron-paul-vs-bernanke-gold-money

Good stuff? :) Paul ...
Good stuff? :) Paul knows his s**t <-- YES! he does .. but nobody listens to? him.. :(

Good? stuff :) Paul ...
Good? stuff :) Paul knows his s**t

the look on ...
the look on Bernanke's face when he said gold wasn't money, and then asked why central banks hold gold and not diamonds? was priceless, because he just knew he was f**ked haha

If you believe they ...
If you believe they are pricing in a deflationary collapse I believe you are mistaken. Bernanke has repeated on multiple occasions that the reason for the GD was because the FED was too tight. He will print. We shall see who is right I suppose :) Good talkin? to ya always refreshing to interact with someone that has some brains.

Good response and ...
Good response and you're correct that QE has not stopped. ZIRP and back door liquidity furnished to the EU via Greece to bolster a financial system that is in danger. I am talking about overt QE ( whether or not they call it that ). I don't see overt QE until after this election cycle but rest assured it is coming. Without liquidity the system will vapor lock. Banking systems that have massive CDS exposure need the dollars in reserve hence why that money hasn't worked its way into the? system.Yet

The bond holders ...
The bond holders already know cpi is a bogus measure. Yet they are content holding bonds which are yielding negative rates of return. Ask why. You are following what QE number is next. My view is the QE has never stopped. Everybody is positioning themselves for the inflation trade. The bond holders know all of? that. They are pricing in something much bigger. What do you suppose that is.

By the end of the ...
By the end of the next 4 year election cycle? our national debt will be in excess of 20 trillion dollars. If interest rates go up we can't service the debt and our economy implodes. If they keep interest rates at 0 savers get crucified ( retired people on pensions that had planned on a return on their capital get nothing thereby impoverishing them and induces misallocation of capital in search of yield etc ) Go to ZeroHedge and look up "BIS blasts Fed's ZIRP policy" and you'll see what I mean.

The reason they ...
The reason they have not initiated QE is because of lack of the political cover necessary to do so. We are currently in a state of? deflation. Mostly due to economic problems abroad and the kneejerk response of "flight to safety" into the dollar our current climate is not under the microscope. That is changing. Current CPI shows 2-2.5% inflation. That is grossly underestimated. Inflation is currently closer to 10-11% or greater YOY.

What is operation ...
What is operation twist then? Who sets interest rates? Of course the FED controls interest rates. With minimal or non existent yield that is why they create money to facilitate deficit spending. What does ZIRP through 2014 mean? Who is currently purchasing treasury bonds?......predominately? it is banks. Why? Anticipation of QE. Countries are actively dumping US treasuries ( China, Russia etc ). They are actively pursuing non dollar denominated commerce because of devaluation.

It is? not the ...
It is? not the Federal Reserve that controls long term interest rates. It is the bond holders. They would dump bonds and send the yield skyward if money kept being printed. The idea that the federal reserve can just away and the bond holders will just sit quietly while being fleased is wrong. They fight back not by just refusing to buy more bonds but by offloading bonds they already have. Here's a riddle : Ask yourself why they have not done so yet.

If they don't print ...
If they don't print they are unable to service the debt. Period. If you're running a trade deficit of over? a trillion dollars per year how do you get that money? Sell treasuries when you're paying 0% interest? Raise taxes from a shrinking tax base? Who is going to buy treasuries when they can play in the market or buy real assets that generate revenue / dividends or have a real rate of return? The only answer is monetization of the debt. That means inflation. Long-term Prechter is wrong.

He (Ron) Schooled ...
He (Ron) Schooled the man (Bernanke).? well it (Gold) is Money.

Ben Bernanke ...
Ben Bernanke mentions that the Fed is very profitable. If I was buying dollar bills for their worth in paper and printing, I bet I would be profitable? too.

Americans dont give ...
Americans dont give a f**k.....they will? soon be screwed.

b*tches? got owned. ...
b*tches? got owned. nobody cares,

those financial ...
those financial panics in the? 1800s were minor though

Robert Prechter ...
Robert Prechter predicts that the Federal Reserve which is guaranteeing all kinds of bad debt for banks will eventually get so scared at the size of its insolvent balance sheet that it will stop taking on more bad debt. Then deflation will occur and the value of (physical) cash will skyrocket. What do you think of? this scenario. The gold buyer's assumption is that the Federal Reserve will print itself to destruction but I think its unlikely. Remember the parasite (fed) wants to survive.

i don't think you ...
i don't think you understand the basics of how gold will return to being money. you won't be running around in the streets trading gold for bread. rather the present currency will be massively devalued against gold. you'll go to the bank, trade in your gold and get $20K equivalent of purchasing? power in paper. Then you spend the paper or digital dollars or whatever piece of crap currency is being offered. Again, gold standard does not mean trading gold coins in the street.

RON? PAUL !!!!!!!!! ...
RON? PAUL !!!!!!!!!!!!

And as I? said Gold ...
And as I? said Gold OR Silver. They both constitute something that has been used as an intermediary for exchange of items and facilitate commerce. Gold is typically to store your wealth ( although it is money ) and Silver is used to barter / pay for things or services.

Obviously, when I ...
Obviously, when I say that I mean with your long term savings type cash. Anyone with any sense has some food stored up, some seeds, a place to bug out to if necessary, and some good weapons/ammo. To play the opposite side of your argument what if it's not the? Mad Max scenario that you're preparing for and in a year or two things start to turn around? Certainly the prepper items will be great but some tangible wealth that is easier to utilize as an intermediary for commerce is necessary.

Ron Paul is ...
Ron Paul is schooling Ben on economics. What a jokeee a fancy? suit and diploma doesn't make you a expert for realzzz. In America retards graduate from college.

what i meant was ...
what i meant was price deflation obviously due to gold. Gold doesn't usually lose? its value does it! and after that your talking about something else.. im saying gold to used a 'common currency'. We can think of dollar and gold as two seperate currencies but it could be inefficient if you think of it. Anyway there are a lot of other problems like monetary policy and some influence is qty. of money supply anyway doesnt matter. Its not like they're gonna adopt it.

lol tradition!? ...
lol tradition!? that made me laugh

you don't know ...
you don't know whats going? to happen so always keep something you are not sure if you aren't going to need. But what you said is 100% true.

Lol, Bernanke ...
Lol, Bernanke teaching paul? the basics...and paul asking silly questions, great video

Ummm. Ok. But? ...
Ummm. Ok. But? still...what are you gonna do with the gold? Is somebody gonna give you $1,900 worth of stuff for it? If not, wouldn't it have been better to have used that money on more survival stuff?

PLEASE go to ...
PLEASE go to ronpaul2012 . com and donate as much as you can even if it's $10 to the Give Me Liberty money? bomb happening right now. In Clark County, Nevada - where nearly 70% of the population of the entire state lives - Ron? Paul supporters now have clear control of the Republican Party. In King County, Washington State, Ron Paul supporters ousted a hostile convention chairman - who ended up running away from the caucus in a snit - and picked up 20 State Convention delegates.

i'll do both...buy ...
i'll do both...buy survival stuff and? gold