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Thread: Ron Paul vs. Bernanke front and center on Drudge right now!

  1. #31

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    the writer of the forbes article got schooled in the comments section btw...some really good reading there.



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  3. #32

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    Just noticed that "gold" is trending on yahoo.

  4. #33

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    Money is what ain't money now!

    Money is what ain't money now!

    Money is what ain't money now!


    Money is what ain't money now!

    Money is what ain't money now!

    They have screwed me for a lifetime. All I have to show for a life time of labor is debt. On top of mine and on top of the governments I have these crooks new 5 billion to pay off!


    P.S. Actually the money we had before these scoundrels devalued our currency and financed their new world order on our backs still works very well in most markets. When I was younger gas ran about 17 to 25 cents a gallon. Still does with real money.

    Last edited by Carson; 07-13-2011 at 05:35 PM.

  5. #34
    Member Luciconsort's Avatar
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    this guy is an IDIOT!!! simple math makes no sense to this man.... you could hire a 4th grader and get better results than this guy. WAKE UP AMERICA!
    Lībertās Aut Mors

    Whenever, therefore, a lie has built unto itself a throne, let it be assailed without pity and without regret, for under the domination of a falsehood, no one can prosper.

  6. #35

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    Quote Originally Posted by Carson View Post
    OH MY GOD.

    That image is so full of win it's not even funny.
    "Resolve to serve no more, and you are at once freed. I do not ask that you place hands upon the tyrant to topple him over, but simply that you support him no longer; then you will behold him, like a great Colossus whose pedestal has been pulled away, fall of his own weight and break in pieces."-Étienne de La Boétie

  7. #36
    Member flightlesskiwi's Avatar
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    you could literally see his little light bulb go off... "yeah, that's it! tradition!!!"

    reminds me of my 6 year old when she is caught in a lie.

  8. #37

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    Quote Originally Posted by Carson View Post
    Money is what ain't money now!

    Money is what ain't money now!

    Money is what ain't money now!


    Money is what ain't money now!

    Money is what ain't money now!

    They have screwed me for a lifetime. All I have to show for a life time of labor is debt. On top of mine and on top of the governments I have these crooks new 5 billion to pay off!


    P.S. Actually the money we had before these scoundrels devalued our currency and financed their new world order on our backs still works very well in most markets. When I was younger gas ran about 17 to 25 cents a gallon. Still does with real money.


    Unbelievable image. Sent out to many people already. Thanks for posting.

  9. #38

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    Um...Forbes link is completely down.

  10. #39

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    Quote Originally Posted by truthspeaker View Post
    Um...Forbes link is completely down.
    just worked for me

  11. #40

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    This thread wreaks of total awesomeness
    "One of the great victories of the state, is that the word "Anarchy" terrifies people but, the word "State" does not" - Tom Woods

  12. #41

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    Can somebody here with a better econ background please refute this argument?

    Here is the gist of it:

    Advocates of the gold standard are not just economically illiterate, they are mathematical illiterate as well. There isn't enough gold in the entire world, much less in the US Gold Reserves, to even think of running the US Economy if we switched back to a gold standard. Here are the facts:

    US GDP: $ 15.02 Trillion
    World GDP: $ 74.54 Trillion
    US M2 money Supply: $ 9.01 Trillion

    US Gold Reserves at today's rates: $ 0.39 Trillion
    Value of ALL gold in the world, including jewelry, at today's rates: $ 8.45 Trillion

    The bottom line is that the gold standard is not possible even if the US government owned all of the gold in the entire world. As a matter of fact, for Ron Paul to have his way and force the US onto a Gold Standard, the US dollar would devalue by a factor of about 25 compared to all other present currencies. Think oil at $2500 per barrel, $100 per gallon gasoline, but your wages & bank account the same as it is today. Everything in Walmart made in China, that cost $1 today, overnight costing $25, but again, but your wages & bank account the same as it is today. This is in addition to the loss of control of the economy, as gold standards leave the control of the gold-based currency
    in the hands of the world gold markets.

    The gold standard is not just a stupid idea, it's advocates are poster children for those who flunked math in school.

  13. #42

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    The price of gold would be standardized to the money supply amount, so gold would be priced at money supply/oz of gold reserves. And the idea would be to keep that constant from here on out. There would be, or should I say should be, no new money created in such a transition. So his statement that everything would go up in price is not true. Also Dr. Paul is not dead set on a fixed exchange rate because he realizes the mistrust in such a system, so he is advocating competition in money to the Fed's monopoly, i.e. the Fed exists along with gold and silver as legal tender. Their ad hominem should immediately throw up red flags.

    There is a recent thread that discussed a lot of what this person thinks they are refuting about the gold standard. You should search for that.



    Quote Originally Posted by scottditzen View Post
    Can somebody here with a better econ background please refute this argument?

    Here is the gist of it:

    Advocates of the gold standard are not just economically illiterate, they are mathematical illiterate as well. There isn't enough gold in the entire world, much less in the US Gold Reserves, to even think of running the US Economy if we switched back to a gold standard. Here are the facts:

    US GDP: $ 15.02 Trillion
    World GDP: $ 74.54 Trillion
    US M2 money Supply: $ 9.01 Trillion

    US Gold Reserves at today's rates: $ 0.39 Trillion
    Value of ALL gold in the world, including jewelry, at today's rates: $ 8.45 Trillion

    The bottom line is that the gold standard is not possible even if the US government owned all of the gold in the entire world. As a matter of fact, for Ron Paul to have his way and force the US onto a Gold Standard, the US dollar would devalue by a factor of about 25 compared to all other present currencies. Think oil at $2500 per barrel, $100 per gallon gasoline, but your wages & bank account the same as it is today. Everything in Walmart made in China, that cost $1 today, overnight costing $25, but again, but your wages & bank account the same as it is today. This is in addition to the loss of control of the economy, as gold standards leave the control of the gold-based currency
    in the hands of the world gold markets.

    The gold standard is not just a stupid idea, it's advocates are poster children for those who flunked math in school.

  14. #43

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    They are also using language such as "running the US economy" and "loss of control of the economy." This is exactly what we need to get away from. The bureaucrats and politicians do not know what is best for us. This person from the looks of it doesn't really care or realize that their standard of living has decreased at the behest of the system they fight for.

  15. #44

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    @scott

    Also, while there is a strong argument to be made for a "Gold Standard" over FIAT Currency, I wouldn't make it my position to defend the Gold Standard as the best solution, because there are significant flaws with any government standard for currency, including gold. Instead I would advocate for "competing currencies" as the real goal, so the standards can emerge naturally based on what people prefer to use.
    Last edited by ClayTrainor; 07-13-2011 at 11:26 PM.
    "One of the great victories of the state, is that the word "Anarchy" terrifies people but, the word "State" does not" - Tom Woods

  16. #45
    Member Fermli's Avatar
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  17. #46

  18. #47

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    Quote Originally Posted by scottditzen View Post
    Can somebody here with a better econ background please refute this argument?

    Here is the gist of it:

    Advocates of the gold standard are not just economically illiterate, they are mathematical illiterate as well. There isn't enough gold in the entire world, much less in the US Gold Reserves, to even think of running the US Economy if we switched back to a gold standard. Here are the facts:

    US GDP: $ 15.02 Trillion
    World GDP: $ 74.54 Trillion
    US M2 money Supply: $ 9.01 Trillion

    US Gold Reserves at today's rates: $ 0.39 Trillion
    Value of ALL gold in the world, including jewelry, at today's rates: $ 8.45 Trillion

    The bottom line is that the gold standard is not possible even if the US government owned all of the gold in the entire world. As a matter of fact, for Ron Paul to have his way and force the US onto a Gold Standard, the US dollar would devalue by a factor of about 25 compared to all other present currencies. Think oil at $2500 per barrel, $100 per gallon gasoline, but your wages & bank account the same as it is today. Everything in Walmart made in China, that cost $1 today, overnight costing $25, but again, but your wages & bank account the same as it is today. This is in addition to the loss of control of the economy, as gold standards leave the control of the gold-based currency
    in the hands of the world gold markets.

    The gold standard is not just a stupid idea, it's advocates are poster children for those who flunked math in school.
    Sure, easily. This person doesn't even understand money and how it works. The amount of gold that we have doesn't matter at all, the monetary value of the gold holdings we have has very little meaning.

    Also, m2 would not be covered by gold, but rather M0 or the the actual notes in circulation (which is around 1.5T iirc). This comes out to around 5000 dollars / oz if you count all the gold we have in FT knox. All the treasury and fed would have to do is set this as the new price of gold and start buying it from people at this rate.

    This person doesn't know what he's talking about.

  19. #48

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    Thanks so much for the enlightened responses guys!

  20. #49

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    This video...Ron Paul vs Bernanke: Is Gold Money? - July 13, 2011 is number 15 on the most viewed charts.

    http://www.youtube.com/charts
    “I would rather be exposed to the inconveniences attending too much liberty than to those attending too small a degree of it.” - Thomas Jefferson

  21. #50

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    Quote Originally Posted by scottditzen View Post
    Can somebody here with a better econ background please refute this argument?

    Here is the gist of it:

    Advocates of the gold standard are not just economically illiterate, they are mathematical illiterate as well. There isn't enough gold in the entire world, much less in the US Gold Reserves, to even think of running the US Economy if we switched back to a gold standard. Here are the facts:

    US GDP: $ 15.02 Trillion
    World GDP: $ 74.54 Trillion
    US M2 money Supply: $ 9.01 Trillion

    US Gold Reserves at today's rates: $ 0.39 Trillion
    Value of ALL gold in the world, including jewelry, at today's rates: $ 8.45 Trillion

    The bottom line is that the gold standard is not possible even if the US government owned all of the gold in the entire world. As a matter of fact, for Ron Paul to have his way and force the US onto a Gold Standard, the US dollar would devalue by a factor of about 25 compared to all other present currencies. Think oil at $2500 per barrel, $100 per gallon gasoline, but your wages & bank account the same as it is today. Everything in Walmart made in China, that cost $1 today, overnight costing $25, but again, but your wages & bank account the same as it is today. This is in addition to the loss of control of the economy, as gold standards leave the control of the gold-based currency
    in the hands of the world gold markets.

    The gold standard is not just a stupid idea, it's advocates are poster children for those who flunked math in school.
    People who think the central bank system we have now is great always use the argument against anyone that finds fault in it as someone that wants a gold based dollar. That is the only other option than can see.

    I feel anything could be used for exchange to simplify a transaction. At one time or other anything probably was.

    The fiat system we have now could have functioned fine and still could if it was taken out of the hands of crooks and the greedy.

    Check out the line on this chart.



    Basically it is a chart that show the value of our currency based on the consumer price index. I've extended a line showing a stable line from when we went off of the gold standard.

    The way I figure it is that if you double the stuff you need currency to trade with and you double the money supply the line should remain stable.

    See the little bumps during earlier times of war. That is when the government introduced fiat money into the system. People didn't like using a currency that lost value as soon as it was put in their pocket. Many refused to accept it. The government eventually retired the bills and the currency returned to something you could bank on.

    So if we pulled enough of the fiat bills now out of the system we could save the dollar as a viable medium of exchange.

    What ever we use it has to be manipulated with care. Not greed.
    Last edited by Carson; 07-15-2011 at 05:58 PM.

  22. #51

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    Just to rant a little about something I managed to controlled myself on in my previous post.

    I mention how the little bumps in earlier times were when we printed up money we didn't have to finance the wars.

    Look at the mother of all humps we have going for us now in the chart above! Have you thought just what it was they were spending money on?

    I have lived it since seventy one or so when we went off of the gold and silver standard. Some of the things I noticed was the Zero Population Growth thing back in the early seventies. At the same time they were telling us there wouldn't be enough water and room on the roads and such for us to have children like everyone had in the past they opened up the floodgates to legal and illegal immigration.

    And then there were wars. Wars on Vietnam. Wars on drugs. Wars on toilets. Wars on light bulbs. War on wars and wars and wars upon wars.

    Ours isn't the only central bank either. It is just one on a string of pearls of central banks around the world. Combined I suspect they have finance the New World Order of things. Local governments are being co-oped and tricked into thinking they have a say in things like Agenda 21.

    It isn't only our country that has lost control of our military and borders but it is a plague world wide.

    I feel the new world order is sucking our currency's value like a mob of vampires. And then if you do manage to stand up against them they rise up again like a zombie or some dead guy in a science fiction movie. You know; the ones that keep getting up after they are suppose to be dead. They can afford to. They are using our money.

    No matter how much money "we the people" can come up with to build their countries the way they want there are others that can print up what ever it take to get their way.
    Last edited by Carson; 07-15-2011 at 07:42 PM.

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