Ron Paul – The Gold Standard – Fox Business 01-30-09
Dr. Ron Paul discussing the gold standard and competing currency on Fox News 01-20-09… Join the rEVOLution!! Join the Campaign for Liberty NOW!!!!!!!!!! www.campiagnforliberty.com Your friend in liberty and oppression, robpatozz www.educationalrevolution.wordpress.com
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the US stopped issuing silver certifiactes after the Fed Reserve gagnsters shot JFK
Dude should totaly be president.
Yea thats why they want to keep it that way.
Wish I could afford to buy some fucking gold before the price skyrockets.Unfortunatly,only the rich will get richer because they can afford a thousand ounces,except those that are stuck with thousands of ounces when the price collapses.
I wish I could ask Dr. Paul why the old economic rule that good money is forced out by bad would not operate if parrallel currency were introduced.
dead – you bring up something interesting I was looking at last night!
download the World Investment Report 2008
Actually the USA has very few percent of Foreign Conglomerates compared to other nations!
It is listed under TNCs (transnational corporations)
Maybe we should just do the capitalist libertarian pig fucker thing and sell everything to various Asian conglomerates.
Higest Gold price in 1980 $650 an ounce, higest inflation rate 14.76%
Higest gold price in 2008 $1002 an ounce, Higest inflation rate in 2008 5.60%
Exactly how is that not “unstable”
This is great stuff! Thanks for uploading! By the way, I always go to financialtruth0.blogspot . com because they post all the latest videos there of JIM ROGERS, PETER SCHIFF, MARC FABER and RON PAUL!
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Fed debt per person: $58K
Un-funded Medicare/Medicaid per person: $332K
Fed’s plundered trusts per person: $30K
Un-funded SS: $166K
Every American owes: $586K for FED debt
Gov grows 4 Xs faster than economy
Fed spending grows 16 times faster than economy, (16 fold expansion in control & gov dependence)
The US gov now holds 57% share of entire National Income = Government makes more than all the money made in private sector!
How long does the USA honestly think it will last?
I’ll have to look for that. Thanks.
Thanks, that makes things clearer.
I believe the change in gold price to the dollar is due more to instability in the dollar, rather than the instability of gold. In my opinion, one of the biggest points of the gold standard is that it is stable without being artificially controlled. Of course, this isn’t like the pseudo gold standard we had until 1971. Fractional reserve banking would need to be eliminated. A good free short book that everyone needs to read is “What Has Government Done to Our Money?” by Murray Rothbard.
There wouldn’t be ‘dollars’ to price gold in if the dollar WAS gold. You’d still have exchange rates for non-gold currencies which the market would set, likely very high.
Being of a relatively fixed quantity and in demand as money is what makes it stable.
It’s fiat money which is unstable.
“Controlled” referred to the monopoly money system, not gold – though many think CBs keep gold’s price down artificially to help their currencies.
I just can’t believe the fact that “we don’t even obey the constitution”.
yeow…. you are right…. unfortunately.
Its not fixed on international mkts.. gold is the standard by which all other currencies would be rated. if you print too much money then more of your currency would be needed to buy an ounce of gold.. if your economy is strong less currency would be needed to buy gold. example: in 1920 $20 and an ounce of gold would buy a nice suit… today an ounce of gold would buy a nice suit… $20 woulnt buy a belt… and soon wont buy a button…
I understand the premise of returning to the gold standard. It is the technical aspect I would like to understand. For example, gold was about $820/oz mid Jan, it closed at $927 yesterday. What will be the mechanism of stability? Gold is traded internationally so how is that market “controlled”?
If gold is the standard, then you fix a definition of “one dollar” to a certain weight of gold – like they did in the old days.
But what Ron Paul and others have said is that it is not the goal to have the gov’t use gold as another gimmick. The money monopoly must be broken and fractional reserve banking (creating money and credit out of nothing) must be done away with. Otherwise, you still end up with a top-down controlled system for looting.
In Ron Paul’s book “The Case for Gold” from the 1980s, he explains how there have been serious problems with bimetallism in the past as long as you have a fixed ratio. Basically, the real value of silver/gold will go above the ratio and drive the overvalued metal out of circulation as it appreciates. No one wants to use the metal that is worth more than what you get for it in monetary exchange.
How could gold’s value be fixed on the international market for this to be possible? Or would the dollar be pegged to gold and free floating? I guess I must start doing some research on this.
WE BELIEVE IT NOW!!!!!
good clip
You could still a bi metal standard. All you have to do is assign a fixed ratio of gold to silver. Historically, it’s been 16:1.
So in effect, you could say that 16 ounces of silver equals 1 ounce of gold. All money could be printed and basedon this concept.