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View Full Version : Ronald Reagan on the gold standard. Video?




rwl4
01-31-2008, 01:44 PM
Reagan was at a question-and-answer session at a breakfast for newspaper and television editors on February 19, 1981 and asked, "One economist pointed out a couple of years ago ... when we started buying the oil [from] the OPEC nations, 10 barrels of oil were sold for the price of an ounce of gold. And the price was pegged to the American dollar. And we were about the only country left that still [was] on a gold standard. And then a few years went by, and we left the gold standard. And as this man suggested, if you looked at the recurrent price rises, were the OPEC nations raising the price of oil or were they simply following the same pattern of an ounce of gold, that as gold in this inflationary age kept going up, they weren't going to follow our paper money downhill?"

Anybody know where to find this video? I have a friend who is a total Reagan fan but thinks that fiat money is the best thing since sliced bread. I'd love to send him a video of Reagan saying that.