Ron Paul Rocks CNBC 13/11

[qwerty]

YouTube - Ron Paul Rocks CNBC 13/11 (http://www.youtube.com/watch?v=L4JuprxIRfE)

http://www.reddit.com/r/Libertarian/comments/a42o7/ron_paul_rocks_cnbc_1311/

[Bruno]

I forget - what is the 13th month called? :p :D

[qwerty]

I forget - what is the 13th month called? :p :D

It´s an European way to write the date...

[Chieftain1776]

That was an awesome interview but of course Keynesian hack Steve Liesman barrels in on Ron Paul bringing out his most "radical" positions first. Glad Ron Paul is learning to deal with these hacks. Liesman isn't interested in thoughtful discussion only in discrediting his opponent. Someone should ask Liesman, right off the bat, if he believes--along with Keynes-- that digging holes and filling them up again is how to get economic growth.

[newbitech]

we'll get an advertiser before we do. yep...

[RevolutionSD]

That was an awesome interview but of course Keynesian hack Steve Liesman barrels in on Ron Paul bringing out his most "radical" positions first. Glad Ron Paul is learning to deal with these hacks. Liesman isn't interested in thoughtful discussion only in discrediting his opponent. Someone should ask Liesman, right off the bat, if he believes--along with Keynes-- that digging holes and filling them up again is how to get economic growth.

Liesman I'm sure is a government plant, he always takes the side of more government. It's idiotic fo him to call Paul's austrian positions "radical" when 1) RP has been discussing these ideas for over 2 years now right on the MSM, and 2) the Austrian school is rational, as opposed to keyensianism, which is insanely complicated and much more "radical".

[sofia]

wow...

that was awesome. These guys really were interested in what RP had to say...even hack Lismen knew he couldnt hang.

Did you hear at the end when they told RP top "get in here" so we can let you loose for two hours!!!

[ctiger2]

Steve Liesman is definitely a Fed plant.

[RevolutionSD]

wow...

that was awesome. These guys really were interested in what RP had to say...even hack Lismen knew he couldnt hang.

Did you hear at the end when they told RP top "get in here" so we can let you loose for two hours!!!

Yeah, and Liesman looked so annoyed about that idea!!

[TER]

just emailed this youtube to everyone I know. Please do the same!

[Bruno]

It´s an European way to write the date...

I know that, just kidding around :)

[Bruno]

Paul said if you put $100 in the bank today, the bank can loan out $190. Is this correct? I thought it would be more like $900 they could loan out through fractional reserve banking?

[Annihilia]

Paul said if you put $100 in the bank today, the bank can loan out $190. Is this correct? I thought it would be more like $900 they could loan out through fractional reserve banking?

That's what I thought. Maybe it was just an on-air slip up, but the point still stands.

[Perry]

If I didn't know any better I'd say this was an economics classroom and the cnbc guys were the students. They offered Paul two hours of air time and said that if he came in they'd "let him loose" and every one of them expressed their desire to hear more from the man.

I love it.

[Bruno]

That's what I thought. Maybe it was just an on-air slip up, but the point still stands.

Agreed

[Annihilia]

If I didn't know any better I'd say this was an economics classroom and the cnbc guys were the students. They offered Paul two hours of air time and said that if he came in they'd "let him loose" and every one of them expressed their desire to hear more from the man.

I love it.

I sent CNBC an e-mail expressing interest in a 2 Hour RP special; just have him go nuts on all of these topics. It would be pretty epic.

[Meatwasp]

Boy I just can't get enough of Ron. I love to hear him talk.

[NYgs23]

Paul said if you put $100 in the bank today, the bank can loan out $190. Is this correct? I thought it would be more like $900 they could loan out through fractional reserve banking?

As I understand it, if the fractional reserve requirement is 10%, that means that if a depositor deposits $100, the bank has to put 10% ($10) on reserve, which is seen to be removed from the money supply. Then they loan out the remaining $90. But they create $100 in "demand deposits" to replace the $100 they removed from the depositor's account. These demand deposits act as real money because the depositor can withdraw cash at anytime, write checks out on them, and transfer them to other accounts. Thus, you end up with $190 in existence (subtracting the $10 on reserve) from the original $100 deposit.

Then, of course, the borrower will spend the $90 and the receiver of this money will likely deposit it in another bank. This bank will put 10% ($9) of that deposit on reserve, loan about the $81 remaining, and create $90 in demand deposits to replace it, giving you $271 from the original $100 deposit. And so forth...

[brandon]

I forget - what is the 13th month called? :p :D

Ronuary

[lester1/2jr]

being a guest host on squawk box is kind of awkard though. it tends to involve alot of sitting around

[Chester Copperpot]

this law is unconstitutional and therefore null and void... refuse it

[qwerty]

just emailed this youtube to everyone I know. Please do the same!

Good idea!

[Bruno]

As I understand it, if the fractional reserve requirement is 10%, that means that if a depositor deposits $100, the bank has to put 10% ($10) on reserve, which is seen to be removed from the money supply. Then they loan out the remaining $90. But they create $100 in "demand deposits" to replace the $100 they removed from the depositor's account. These demand deposits act as real money because the depositor can withdraw cash at anytime, write checks out on them, and transfer them to other accounts. Thus, you end up with $190 in existence (subtracting the $10 on reserve) from the original $100 deposit.

Then, of course, the borrower will spend the $90 and the receiver of this money will likely deposit it in another bank. This bank will put 10% ($9) of that deposit on reserve, loan about the $81 remaining, and create $90 in demand deposits to replace it, giving you $271 from the original $100 deposit. And so forth...

thanks for that explanation. That certainly helps.


Ronuary

love it! :D

[catdd]

The most insane notions such as fractional reserve banking, creating money out of thin air, and Keynesian economics in general are accepted as common place. Then, along comes RP with a sound, sensible approach to economics and it's called radical by some.

[torchbearer]

US standard MM/DD/YR
Euro Standard DD/MM/YR

[purplechoe]

I forget - what is the 13th month called? :p :D

Decembuary.

[sofia]

The most insane notions such as fractional reserve banking, creating money out of thin air, and Keynesian economics in general are accepted as common place. Then, along comes RP with a sound, sensible approach to economics and it's called radical by some.

ever read plato's allegory of the cave

[youngbuck]

Good interview with good ending!

[catdd]

ever read plato's allegory of the cave

That would sum things up rather nicely.

[sofia]

That would sum things up rather nicely.

funny thing is, everyone cites Plato's allegory as a great lesson....and if you recite it at cocktail parties, all will think you wise and learned....

But the moment you attempt to actually apply its lesson to understanding some current event,....... those same admireres of Plato will immediately, and violently, dismiss you as a "conspiracy theorist"....a "radical"...an "extremist" yadda...yadda...yadda


..just like the dudes in the cave did to the one who saw the light!!!!!!

amazing ....

[morran]

"I'm not sure I could stand being there for 2 hours" :D:D

[TheEvilDetector]

Politicial Power of the Fed is a thing to behold.

311 cosponsors of HR1207 and it isn't going anywhere (yet).

Fed is evil, but you have to give them respect for being able to accumulate so much political power.

Of course being able to print monopoly money will buy you a fair few houses on the board.

[raiha]

Thanks Qwerty...that was a feast. I love the way he won't let anyone get a word in edgeways. No gap between end of paragraph and beginning of next one. Probably because of years of people sidelining him. Man before his time. What are we going to do when he dies?

[Ian A.]

I'm glad so many enjoyed the interview because I love Ron Paul but I was really drifting during this interview. Sure I understood it, but man it was boring stuff. But it's a financial channel so I guess others feed off discussions of monetary policy more than me. :D

[jsu718]

Decembuary.

Febtober.

[jbrace]

I'm glad so many enjoyed the interview because I love Ron Paul but I was really drifting during this interview. Sure I understood it, but man it was boring stuff. But it's a financial channel so I guess others feed off discussions of monetary policy more than me. :D

I thought the same thing too, but it's also things we have all heard time and time again and someone that new to it may be it very intriguing. Then again, I feel that people that have never heard his message, may not understand and might be turned off.

[xd9fan]

Liesman is a douche

[fj45lvr]

Politicial Power of the Fed is a thing to behold.

311 cosponsors of HR1207 and it isn't going anywhere (yet).

Fed is evil, but you have to give them respect for being able to accumulate so much political power.

Of course being able to print monopoly money will buy you a fair few houses on the board.


This is no surprise or great feat as they are the real "overlords". They have the ultimate "inside information" and they have the power to make corporations boom or bust at THEIR discretion.... meanwhile "politics" is as impotent as ever.

[SimpleName]

that was just...awesome. I wasn't going to come on tonight, but I got it on twitter and was quite surprised. Ron Paul rolled through the questions with such ease. Finally! And then, besides Liesman, the guys seemed very interested. I think they might've respected him saying his mind and not b/sing like the normal politician. Hopefully it was authentic.

[Theocrat]

Congressman Paul smashed that interview.

[john_anderson_ii]

Videos like this are the reason Ron Paul and his prodigy have my money and my time. From my boots to my sword arm, they have all I produce, voluntarily.