Idaho House Democrat Leader just said the Dumbest thing about Gold and Inflation

[K466]

This was so hilariously stupid I had a little fun making a video out of it.

[timosman]

It would be quite concerning if the price of gold did not go up.

[oyarde]

Why are there democrats in Idaho ?

[Zippyjuan]

His example sucks (and is irrelevant to the bill they proposed) but gold does not prevent inflation from occurring.

[Free in CT]

In a shocking turn of events, Rep. Erpelding has admitted that he screwed up in a response to an email from a reader at Economicpolicyjournal.com

http://www.economicpolicyjournal.com...tative-on.html

[juleswin]

His example sucks (and is irrelevant to the bill they proposed) but gold does not prevent inflation from occurring.

Yes, but gold money would have less inflation because you cannot print gold willy nilly like you can do with the dollar. Nothing is a 100% safe guard against inflation.

But to the OP, I can see how he gets confused. Its sorta like a wish in water, you use the dollar so much that it becomes the default measure of value. To the point that if something increases in price, they cannot see the dollar as the culprit cos it is the dollar.

[K466]

In a shocking turn of events, Rep. Erpelding has admitted that he screwed up in a response to an email from a reader at Economicpolicyjournal.com

http://www.economicpolicyjournal.com...tative-on.html

Wow, of course that happens after I spend all day learning new tricks on Lightworks to make this video. He even replied to Wenzel and agreed to read his book. I almost feel bad now, but then I don't.

But to the OP, I can see how he gets confused. Its sorta like a wish in water, you use the dollar so much that it becomes the default measure of value. To the point that if something increases in price, they cannot see the dollar as the culprit cos it is the dollar.

Yep lol

[timosman]

Yep lol

It is not lol. These idiots rule over us.

[Tywysog Cymru]

Why are there democrats in Idaho ?

I think there's this guy, a handful of college students, and a really old man who remembers William Jennings Bryan. And that's it.

[oyarde]

I think there's this guy, a handful of college students, and a really old man who remembers William Jennings Bryan. And that's it.

They need to seek rehabilitation and forgiveness for the harm they have brought upon others.

[heavenlyboy34]

Yes, but gold money would have less inflation because you cannot print gold willy nilly like you can do with the dollar. Nothing is a 100% safe guard against inflation.

But to the OP, I can see how he gets confused. Its sorta like a wish in water, you use the dollar so much that it becomes the default measure of value. To the point that if something increases in price, they cannot see the dollar as the culprit cos it is the dollar.

A classical gold standard would be inflation-proof (monetary inflation, that is. Price inflation is another thing) by its nature. That's why bankers and politicians hate it.

[eleganz]

Jesus, you'd think one of his aides would've double checked this first before letting him state it as fact with such a big smile on his face.

[timosman]

Jesus, you'd think one of his aides would've double checked this first before letting him state it as fact with such a big smile on his face.

I am sure they discussed it and it felt right. No need to type anything in a search engine.