Ron Paul on Kudlow (9 Nov)

[pguitarb]

They are talking about the RP v. Bernake faceoff earlier today. Kudlow just said Ron will be on coming up soon!

[tsetsefly]

utube utube

[MsDoodahs]

Frikken AMAZING Paul support.

Ron will be up next.

[LibertyEagle]

Has he been on yet?

[JAHOGS]

who the hell is Kudlow. What channel

[Magsec]

I think it's CNBC.

[KewlRonduderules]

CNBC.

I think it will be the last segment of the show. They said they were saving the best for last.

[JAHOGS]

Cool, he was just on Fox Business News recently, probably waiting for him to get all wired up before coming on. The Fox Business News interview was great and long. The same ole great Dr. Paul on FBN a minute ago.

[Tyler19]

I think this will be a hit piece.

He just said berneke and greenspan were doing good job.

[JosephTheLibertarian]

is all this talk based on what Ron Paul said?

[son of liberty]

RON PAUL needs to get credit for being RIGHT if the economy crashes. I'm going to start pushing his views on the ECONOMY.

I've heard theories that the Elite will blame "us" for living beyond our means, and that
Power will blame it on terrorism (FBI just said Malls in danger of attacks. Banks are also targets.) We all know who will really be to blame, and who deserves credit for warning us!

[grfgerger]

he's catching on

[Chester Copperpot]

was h eon ?

[garrettwombat]

no he is about to come on still...

[tcmaroc]

was h eon ?

not yet

[I Am Weasel]

on where? CSPAN? Or CSPAN2?

[KewlRonduderules]

I think this will be a hit piece.

He just said berneke and greenspan were doing good job.

Not so fast, he said that he put Berneke to shame today.

Let's see what he says.

;)

[garrettwombat]

i think something good is about to happen

[MsDoodahs]

It is on CNBC, their business channel.

For Direct TV users, channel 355.

[fcofer]

EXCELLENT remark there from the host (paraphrased): Later we'll hear from Ron Paul, who had a huge day recently raising more than 4 million dollars, and earlier today he took Bernacke all the way to the woodshed!

[garrettwombat]

you know its pretty sad that it took money to make people actually pay attention to paul

[terlinguatx]

...

[Tyler19]

I think Kudlow is pretty nuetral

[JosephTheLibertarian]

kudlow is trying to make damage control

[devil21]

ABC News just posted an article about Ron Paul's questioning of Bernanke.

http://abcnews.go.com/Politics/Vote2008/story?id=3839318&page=1

[dt_]

was Paul on the show yet?

[Tyler19]

no he was not, were at commercial now

[Ron Paul Fan]

He's on next!

[krott5333]

Ron Paul coming up.

"He raised 4 million dollars in a day and took Bernanke to the woodshed.. not bad for a days work"

coming up next!

[garrettwombat]

Uh Oh... 6 Against 1... Watch Ron Own Them All To The Woodshed!

[risiusj]

Coming up after commercials

Paraphrasing
Coming up Ron Paul. He raised 4 million bucks online in one day. Today he took Bernanke out to the woodshed.

[Tyler19]

They are interviewing him with a panel of like 6 people! I hope this is a good one.,

[RPatTheBeach]

I thought he was just going to have two guests arguing over ron paul, not the man himself? Perhaps I misheard

[Hurricane Bruiser]

Woodshed baby.

[OptionsTrader]

is all this talk based on what Ron Paul said?

Kudlow interviews RP from time to time on CNBC. Kudlow is a perma bull on the market, to the point of being flawd in his analysis of the Fed, and will not agree with RP 100%, but he will be respectful. The panel will be neutral to supportive.

[Tyler19]

yeah I like Kudlow. He seems fair.

[Ron Paul Fan]

Uh Oh... 6 Against 1... Watch Ron Own Them All To The Woodshed!

Don Luskin I know is on Paul's side. Forbes is a neo-con who works for Rudy. Not sure about the other two.

[fcofer]

He said 7 million in one day!!! Wups? Hahahaha!

[murrayrothbard]

youtube? LOL :D Just kidding. Really someone should figure out how to time travel 10mins into the future and have youtubes ready for all the people that ask for them 3 seconds after an interview is over...

[davidkachel]

ABC News just posted an article about Ron Paul's questioning of Bernanke.

http://abcnews.go.com/Politics/Vote2008/story?id=3839318&page=1

This is a hit piece.

[dt_]

"PAUL ON COMPETITING CURRENCY"

lol typo'd

[Tyler19]

what a great interview. Ron Paul is so smart.

[spacebetween]

This is a wonderful interview. GOSH RP is SOOO intelligent!

I'd LOVEEEE to see ANY of the other candidates having a conversation like this!

[Ron Paul Fan]

Phenomenal Fundraising Story! Bewildering! Paul forgot how much money we raised! LOL!

[SeanEdwards]

The Kudlow interview is giving me a rongasm.

[fcofer]

This is a phenomenal interview! This is excellent.

Too bad he had to add that inevitable, "Will you run as a third party candidate."

[ronpaulfan]

So much money was raised that Ron Paul himself didn't know the exact number :p

[murrayrothbard]

Ron always has his best interviews when they are on economics, seeing as how it was his initial reason d'etre in politics.

[garrettwombat]

Yeah lets have a discussion without ron paul actually being there... that way he wont put all you clowns to rest.

[spacebetween]

I can't wait for the discussion afterwards.

That was wonderful!! I hope that somebody YouTubed it. :D

[American]

loll he didnt remember how much money was raised the other day.....=\

WOW, he needs to take a break.

[Tyler19]

The panel is now going to talk about it after commercial.
Lets see what they say

[T206]

The interesting part will be seeing the next segment where the guests talk about the interview.

[risiusj]

How much will this panel rip into Paul when he has no ability to respond?
I'm guessing a lot.

[0zzy]

He doesn't even know how much he raised! He must be tired :P

[JAHOGS]

he did the same thing on FBN just before this interview.

[wfd40]

Bam!!

[Richandler]

Competing monetary systems! Stop taxing money! Wow. Stuff. That. Makes. Sense.

[spacebetween]

Yeah lets have a discussion without ron paul actually being there... that way he wont put all you clowns to rest.

Don Luskin is a fan of Ron Paul. I can see Don standing up for the doctor.

[werdd]

seriously guys did any of you notice he acted like he didnt know ho wmuch he raised? I think hes trying to give his site some hits or something, make people do research

[V4Vendetta]

Fantastic Interview!!!!!!!!

[sparebulb]

HOME RUN!!!!!!!!!!!!!!!

Kudlow was very fair. Let's see what he says when RP is not there.

[Jordan]

Other than forgetting the fundraising number, a great interview. Kudlow really threw questions that were important to his campaign

[Copperhed51]

Somebody please youtube the discussion afterwards too. I really wanna see what these people have to say about him.

[ronpaulfan]

seriously guys did any of you notice he acted like he didnt know ho wmuch he raised? I think hes trying to give his site some hits or something, make people do research

Don't forget, there was a lot of offline dollars added on Nov 5th. The official FEC numbers may be a lot lower.

[murrayrothbard]

What would be really great is if all this RP talk starts to open up some regular guest commentary spots for people that share Ron's economic philosophy. Hell, it'd even be fine if everyone disagrees with them. Would make these business/econ shows a hell of lot more entertaining and informative.

(everyone does know that RP didn't come up with his economic philosophy by himself right?)

[garrettwombat]

haha what was that? after the commercial????

[ladyliberty]

Wow he said he agrees with Ron Pauls monetary views!!!!!!!!!!

[dt_]

Can anyone explain this to me?

What's this idea of "competing currencies"? Does Ron want us to have more than just the dollar? Like... a New York dollar, a Pennsylvania dollar, etc.? O_o

WHOA Don Luskin just said "GO RON PAUL!"

[Starks]

Go! Ron Paul!

[murrayrothbard]

Don't forget, there was a lot of offline dollars added on Nov 5th. The official FEC numbers may be a lot lower.

wasn't it ~400K or something around there?

[Ron Paul Fan]

Kudlow found Paul's economic views interesting! Luskin agrees! Shutup neo-con Forbes!

[brandon]

wow, simply amazing

[Richandler]

Dude why is Forbes endorsing Giuliani when he agrees with Paul sooooo much~!

[RobS]

This was great.. everybody on the show is talking about him. Awesomeness!

[MsDoodahs]

OMG.

I have to tell you guys, when Ron Paul mentioned "The Road to Serfdom," I burst into tears.
:o

[murrayrothbard]

Can anyone explain this to me?

What's this idea of "competing currencies"? Does Ron want us to have more than just the dollar? Like... a New York dollar, a Pennsylvania dollar, etc.? O_o

WHOA Don Luskin just said "GO RON PAUL!"

The idea would be to legalize competition with the federal reserve note, by repealing capital gains taxes on precious metals, repealing legal tender laws, etc.

[0zzy]

FXX the last dude. "These libertarians want to legalize drugs are probably smoking pot!"
THE FUCK DUDE.

[murrayrothbard]

OMG.

I have to tell you guys, when Ron Paul mentioned "The Road to Serfdom," I burst into tears.
:o

What's funny is Limbaugh used to sell that book on his website back in the 90's....

[Joey Wahoo]

Can anyone explain this to me?

What's this idea of "competing currencies"? Does Ron want us to have more than just the dollar? Like... a New York dollar, a Pennsylvania dollar, etc.? O_o

WHOA Don Luskin just said "GO RON PAUL!"

He says the Treasury should issue notes directly, backed by gold reserves. This currency would circulate simultaneously with the current fiat Federal Reserve Notes. Likely prices would be different depending upon which currency you use. Gold backed currency would be less prone to inflation, to say the least.

[freelance]

Did I just hear Forbes say that the dollar is rock solid? I didn't catch the whole thing.

[0zzy]

Did I just hear Forbes say that the dollar is rock solid? I didn't catch the whole thing.

I think he wants to directly back the dollar by gold.

[Paulestinian]

4 out of 5 financial analysts recommend Dr. Paul! :D

[asdf]

Did I just hear Forbes say that the dollar is rock solid? I didn't catch the whole thing.No, he said if it was backed by gold it would be rock solid and everyone would want to deal in dollars because of it's stability.

[drexhex]

Ok, I didn't catch the name of the guy, but seriously - bringing the legalization of drugs and pot-smoking into a currency discussion? I know that legalization could bring income, but that's quite a stretch to make for that guy.

Although, President Paul got support from almost everyone :D

[freelance]

Thanks Ozzy. That statement standing alone made no sense at all.

[devil21]

Did I just hear Forbes say that the dollar is rock solid? I didn't catch the whole thing.

He said the dollar would be rock solid if it were backed by gold. While the rest of the world's currencies float around in value, they would always turn back to the dollar because it is stable.

[sparebulb]

What's funny is Limbaugh used to sell that book on his website back in the 90's....

And Rush is the one that is on drugs.........not RP!

[Starks]

I also have a new found respect for Don Luskin.

[Richandler]

FXX the last dude. "These libertarians want to legalize drugs are probably smoking pot!"
THE FUCK DUDE.

It's true there is no reason Marijuana should be illegal. It's less harmful than alcohol and tobacco. I think that guy just wants all the crack for himself.

[JosephTheLibertarian]

Dude why is Forbes endorsing Giuliani when he agrees with Paul sooooo much~!

because he's an elitist neo-con

[LibertyEagle]

Don't forget, there was a lot of offline dollars added on Nov 5th. The official FEC numbers may be a lot lower.

Our online numbers per ronpaulgraphs, were still right at 4 mil and don't forget, there would have been some other offline contributions that day which were not included. We'll be fine.

[runderwo]

I don't understand people that jump back at the idea of competing currencies. In this world of Visa, Mastercard, Discover, Amex, and so on, you would think that there would be room for competition in the currency.

[AceNZ]

Can anyone explain this to me?
What's this idea of "competing currencies"? Does Ron want us to have more than just the dollar? Like... a New York dollar, a Pennsylvania dollar, etc.? O_o


I believe RP's idea is to first repeal the Legal Tender laws, which say that Federal Reserve Notes are required to be accept "for all debts, public and private". That would then be followed by the introduction of hard money -- gold *coins* (the Constitution doesn't allow paper money). At that point, there would be two competing currencies, Federal Reserve Notes and gold. That would then encourage people to move to gold, since it would be the stronger and more stable of the two.

[Vvick727]

I just had the most badass image in my head:

At a meeting of President Paul and Bernanke.
Bernanke asks him why the Treasury is now printing up money when we have the Federal Reserve to do that.

President Paul comes back with "What, you can't handle a bit of friendly competition?"

That, guaranteed, would make Bernanke's head implode as well as hit headlines around the world.

[terlinguatx]

...

[specsaregood]

He said the dollar would be rock solid if it were backed by gold. While the rest of the world's currencies float around in value, they would always turn back to the dollar because it is stable.

Which means that Forbes in essence completely agrees with Ron Paul, because that is a Gold standard.

The difference is that Ron Paul is pragmatic and realizes we can't just go to a gold standard immediately, hence his ideas for competing currencies and phasing out the Fiat currency through competition.

[murrayrothbard]

I just had the most badass image in my head:

At a meeting of President Paul and Bernanke.
Bernanke asks him why the Treasury is now printing up money when we have the Federal Reserve to do that.

President Paul comes back with "What, you can't handle a bit of friendly competition?"

That would make Bernanke's head implode as well as hit headlines around the world.

The government already prints the dollars.

Does RP really advocate having the government issue a new currency itself?

[Copperhed51]

The Fed prints the dollars and backs them with nothing. It's just paper. And the more you put in, the less value each one has. A competing currency, like gold and silver, would actually be backed by something and couldn't be devalued by just printing more. You have to have the backing.

[Joey Wahoo]

The government already prints the dollars.

Does RP really advocate having the government issue a new currency itself?

Yes. Issued directly by the Treasury (rather than the Federal Reserve Bank) and backed by gold. It would circulate in competition with our existing currency (which are called Federal Reserve Notes as you will note if you look at the front of one of them)

[Richandler]

This is so frusterating that there isn't a huge movement for this right now. We must educate!!!

[murrayrothbard]

Which means that Forbes in essence completely agrees with Ron Paul, because that is a Gold standard.

The difference is that Ron Paul is pragmatic and realizes we can't just go to a gold standard immediately, hence his ideas for competing currencies and phasing out the Fiat currency through competition.

Why not? Just take (dollar supply) / (gold on hand) and set the dollar at that ratio. Stop making more dollars. Done. BIG correction in the market. But then all good. ;)

[ItsTime]

oh ya... the #3 ad for Ron Paul was played here in New Hampshire right before this interview :D

[murrayrothbard]

Yes. Issued directly by the Treasury (rather than the Federal Reserve Bank) and backed by gold. It would circulate in competition with our existing currency (which are called Federal Reserve Notes as you will note if you look at the front of one of them)

Where are they printed? (The FRNs)

[Copperhed51]

So should I still buy gold or is it too late?

[Libertarian]

Somebody please youtube the discussion afterwards too. I really wanna see what these people have to say about him.

darn I paused the TV after the interview and missed the discussion too...stupid DVR switched channels to record something else.

Someone please Youtube it! ;)

[runderwo]

The Fed prints the dollars and backs them with nothing. It's just paper. And the more you put in, the less value each one has. A competing currency, like gold and silver, would actually be backed by something and couldn't be devalued by just printing more. You have to have the backing.

No that's not true, they are backed by collateral that is used to borrow the dollars on open market operations. That collateral can be T-bills or any other kind of security Fed approves of. Lately Fed has even been allowing mortgage backed securities to be used as OMO collateral. Fed prints money for the Treasury and gets T-bills in exchange. So it's backed by a bunch of debt. Hence the phrase "monetization of debt".

[specsaregood]

Why not? Just take (dollar supply) / (gold on hand) and set the dollar at that ratio. Stop making more dollars. Done. BIG correction in the market. But then all good. ;)

I think the point is to get there using the free market and competition rather than through force and sudden shocking change. But I could be wrong.

[Joey Wahoo]

Where are they printed? (The FRNs)

The Bureau of Engraving and Printing

[mport1]

Youtube?

[Razmear]

So should I still buy gold or is it too late?

I'd personally invest in nickel, but that's just me.

eb

[Avalon]

So should I still buy gold or is it too late?

Ron Paul is a much better investment at this point.

[ThePieSwindler]

youtubee?

[Libertarian]

No that's not true, they are backed by collateral that is used to borrow the dollars on open market operations. Fed prints money for the Treasury and gets T-bills in exchange. So it's backed by a bunch of debt.

So the dollar is actually backed by something?

Sweet! I feel much so better now! :)

[Karsten]

Youtube or it didn't happen.

[literatim]

So the dollar is actually backed by something?

Sweet! I feel much so better now! :)

It's backed by stupidity.

[murrayrothbard]

It's backed by stupidity.

LOL!

[Mandrik]

http://www.youtube.com/watch?v=hZsZ0_OLer4

TY freemebgw for the upload!

[The Good Doctor]

Thank you!


http://www.youtube.com/watch?v=hZsZ0_OLer4

TY freemebgw for the upload!

[Adamsa]

http://www.youtube.com/watch?v=hZsZ0_OLer4

TY freemebgw for the upload!

I love freemeebgw.

[Chase]

Thanks for the youtube! Anyone have a cap of the followup?

[Jordan]

Silver is a better investment than gold. Its more rare, has more uses, and is kept artificially low through many short sellers. Silver is not only a protection against a falling dollar, its also going to accelerate at investment grade speeds.

[iddo]

What's this idea of "competing currencies"?

He says the Treasury should issue notes directly, backed by gold reserves. This currency would circulate simultaneously with the current fiat Federal Reserve Notes. Likely prices would be different depending upon which currency you use. Gold backed currency would be less prone to inflation, to say the least.

I think that's accurate. Ron Paul was on Fox Business Network on October 16 and the interviewer asked him near the end to clarify if he meant that we would have a new currency in addition to the dollar. Here: http://www.youtube.com/watch?v=JXfDHXpP87o (note again, this is the interview from October 16, not from today).

[tcmaroc]

I believe RP's idea is to first repeal the Legal Tender laws, which say that Federal Reserve Notes are required to be accept "for all debts, public and private". That would then be followed by the introduction of hard money -- gold *coins* (the Constitution doesn't allow paper money). At that point, there would be two competing currencies, Federal Reserve Notes and gold. That would then encourage people to move to gold, since it would be the stronger and more stable of the two.


What's would happed to the value of the dollar then?

[tsetsefly]

Thanks for the youtube! Anyone have a cap of the followup?

yes, follow up please!

[Mandrik]

http://www.youtube.com/watch?v=aNH5Xy8_0NM

You suckers need to subscribe to all the people who post RP videos. :D

[wfd40]

Hyack?? LOL - notice how clever Kudlow thinks he was dropping that name.. ;)

[The Good Doctor]

Anybody think that his eyebrows didn't need to be dyed so dark? My goodness! That is the first thing I noticed!

But hey, hell of a freaking interview! It rocked! :D


Thank you!

[DrNoZone]

Hyack?? LOL - notice how clever Kudlow thinks he was dropping that name.. ;)

That was awesome.

[Nash]

http://www.youtube.com/watch?v=aNH5Xy8_0NM

You suckers need to subscribe to all the people who post RP videos. :D

Done. You have a new subscriber.

Did Steve Forbes just basically endorse Ron Paul's monetary policy? Wow!

Rudy is gonna be maaaaad!!!

[Joey Wahoo]

outstanding. another home run for Dr. Paul

[ChristopherJ]

http://www.youtube.com/watch?v=aNH5Xy8_0NM

You suckers need to subscribe to all the people who post RP videos. :D

Ha no way!! Jim LaCamp works in my office building. Guess I'll ask him about Ron Paul next time I see him :)

[Mandrik]

Done. You have a new subscriber.

Did Steve Forbes just basically endorse Ron Paul's monetary policy? Wow!

Rudy is gonna be maaaaad!!!

Don't subscribe to me, subscribe to the people I subscribe to. All I got are two WoW videos from back in my WoW days. :p

[MS0453]

Hyack?? LOL - notice how clever Kudlow thinks he was dropping that name.. ;)



Lol..I've heard him mention him before. One time, some economist (Steve Moore maybe?) came on and was trying to brag about Rudy being some great free-marketer and Kudlow started talking about Rudy being Hayek or Ludwig von Mises..It was really out there.

[murrayrothbard]

Lol..I've heard him mention him before. One time, some economist (Steve Moore maybe?) came on and was trying to brag about Rudy being some great free-marketer and Kudlow started talking about Rudy being Hayek or Ludwig von Mises..It was really out there.

OMG Rudy = Mises???? WTF???

[V4Vendetta]

Another Fantastic Interview!!!!!

[Libertarian]

Silver is a better investment than gold. Its more rare, has more uses, and is kept artificially low through many short sellers. Silver is not only a protection against a falling dollar, its also going to accelerate at investment grade speeds.

There is less silver above ground today than gold. Very few people know that ;)

[murrayrothbard]

There is less silver above ground today than gold. Very few people know that ;)

Is silver used more in industry than gold? I honestly don't know? I know silver is a better conductor...

[MS0453]

OMG Rudy = Mises???? WTF???

I found it!

http://www.youtube.com/watch?v=GEDR23Nr8so

Keep a barf bag near.

[LinearChaos]

If you want a good explanation of how the new gold standard would most likely be implemented, check out yesterday's interview of Lew Rockwell by Scott Horton from Antiwar Radio. It is great, all about the rEVOLution, the central banks, etc:

Antiwar Radio: Lew Rockwell (http://thestressblog.com/2007/11/07/antiwar-radio-lew-rockwell/)

Description:

“Bernanke should go around in a Devil suit.”

Lew Rockwell, discusses the Ron Paul Revolution and Revolutionaries, the myth of the government exception from the moral law, the connection between central banking and war, the growing awareness among the American people of the connection between central banking and war, the terrible consequences of inflation, what Ron Paul would probably do about it, the savings to be had in ending the empire, the War Party players and red state fascists who support Rudy Giuliani instead and Ron Paul’s position on defending America from al Qaeda.

Lew Rockwell:


Rockwell is the founder and President of the Ludwig von Mises Institute in Auburn, Alabama, Vice President of the Center for Libertarian Studies in Burlingame, California and publisher of the political weblog LewRockwell.com. Rockwell was closely associated with his teacher and colleague Murray Rothbard until Rothbard's death in 1995. Rockwell's political ideology, like Rothbard's in his later years, combines an anarcho-capitalist form of paleolibertarianism with cultural conservatism and the Austrian School of economics. Rockwell also espouses federalist concepts allowing the states very wide latitude and freedom from central government, secession and political decentralization. Rockwell is a Roman Catholic. He served as Ron Paul's congressional chief of staff between 1978 and 1982.
If you want to know Dr. Paul's mind, this interview is great. The other interviews on Antiwar.com are awesome too. Charles Goyette and Scott Horton FTW.

[Energy]

http://www.youtube.com/watch?v=aNH5Xy8_0NM

You suckers need to subscribe to all the people who post RP videos. :D


Don Luskin (Trend Micro): "Bravo Bravissimo, GO RON PAUL!"

http://img249.imageshack.us/img249/9710/img277hl6.jpg

[Minlawc]

Done. You have a new subscriber.

Did Steve Forbes just basically endorse Ron Paul's monetary policy? Wow!

Rudy is gonna be maaaaad!!!

Didn't Forbes endorse Ron Paul back when he ran for Congress?

It's not surprising that he would agree with him on some issues.

[angelatc]

He says the Treasury should issue notes directly, backed by gold reserves. This currency would circulate simultaneously with the current fiat Federal Reserve Notes. Likely prices would be different depending upon which currency you use. Gold backed currency would be less prone to inflation, to say the least.

I don't hate the idea, but the thing tha worries me is how to protect people that have all their assets in fiat currency instruments.

[Blowback]

Is silver used more in industry than gold? I honestly don't know? I know silver is a better conductor...

Way more.

We all have limited resources including myself. I own a little gold but I place my big bet on silver.

[Mandrik]

Way more.

We all have limited resources including myself. I own a little gold but I place my big bet on silver.

Silver is where it is at. I love my dad, but I made sure he put me down in his will for his big silver collection (which includes bars). "Hey dad, check out this bridge over here. Careful, it's a bit wet."

:D

[0zzy]

Ha no way!! Jim LaCamp works in my office building. Guess I'll ask him about Ron Paul next time I see him :)

Ask him to stop being a dumbass and relating libertarianism to "OMG THEY LOVE TO SMOKE POT!"

[ChristopherJ]

Ask him to stop being a dumbass and relating libertarianism to "OMG THEY LOVE TO SMOKE POT!"

Lighten up - It was a joke.

[dmitchell]

This [ABC's Paul v. Bernanke article] is a hit piece.
Not at all.

[alaric]

Didn't Forbes endorse Ron Paul back when he ran for Congress?

It's not surprising that he would agree with him on some issues.

Actually, steve sent me a snail mail a few months ago pushing ghouliani. I replied that i was ashamed of him and to look at Ron Paul.
:p

[maxmerkel]

i don't understand the fuzz about forbes, he did not endorse ron paul and he did not agree on the competing currencies !
forbes wants to tie the value of the dollar to gold - and that i have to say is an tremendously stupid idea.

ron pauls idea of phasing out the fed through competing currencies, the biggest one of them for sure will be gold/silver, is the way to go.

[freedominnumbers]

What's would happed to the value of the dollar then?

The value of the current fiat dollar is and would remain linked to it's management.
Just as other fiat currencies throughout the world have a value so would the current fiat dollar.

Realistically though the dollar would likely go out of existence because only a fool would deal in fiat money when he could have real money instead.

The challenge from the gold backed dollar is how do you keep them from ending up in China's vault making the US cash poor. With fiat money you just print more, with a backed currency you don't get that privilege. I suppose you might need a law such as Iraq has, which says Iraqi Dinar can't be taken out of the country.

[murrayrothbard]

The challenge from the gold backed dollar is how do you keep them from ending up in China's vault making the US cash poor. With fiat money you just print more, with a backed currency you don't get that privilege. I suppose you might need a law such as Iraq has, which says Iraqi Dinar can't be taken out of the country.

Huh? What would it matter if I sent some guy in China a chunk of gold and he sent me a TV?

[Alawn]

That interview and the discussion afterwards was great. One of the guys actually said "Go Ron Paul!" I think today was huge and he probably won over a lot of voters.

[Arklatex]

I love freemeebgw.

Thank the efforts of this user, they go a long way. Please continue to make youtubes of dr. pauls appearances. this is one is espeically important to me because I respect Larry Kudlow and his show more than any other show of the 'mass media'. :D:D

[Benaiah]

bump

[AceNZ]

What's would happed to the value of the dollar then?

With competing currencies, the value of the dollar would fluctuate in the same way it does today again foreign currencies like the Euro or the Yen.

It's likely that over time, people would sell dollars and buy the hard money, since the value of dollars declines over time as the result of inflation, whereas hard money can't be inflated. Eventually a feedback loop would develop -- as the paper dollar declines, more and more people would sell their dollars and buy hard money, which pushes the dollar down further, and the cycle repeats.

BTW, in the 1800's it was possible for the public to bring a pile of gold or silver to the mint, and exchange it directly for gold or silver coins. Bringing back that system could be a great place to start.