Ron Paul VS Ben Bernanke VOL. da HEAD of da fed doesnt think gold is "money" RIP USA

[ninjahood]

Originally Posted by nestasprotege

Ben Bernanke is an extremely intelligent man. This doesn't change the fact that he has made some horrible decisions that have hamstrung America. The idea of injecting money into the economy at will and printing dollars out of thin air is a TRAGEDY.

you know one of da weapons Hitler used in Europe in WWII besides bombings? he dropped off TONS and TONS of counterfieit money into enemy countries

to inflate and derail their currency....something that our country is self inflicting on itself....people dont even understand da debt limit issue...we're BORROWING

money we DONT have to pay for things, guess who holds most of our debt? china...guess who's running and buying a RECORD number of gold from around da world?

you guessed, it...china...if we default and this country's credit card finally declines..will see how much more valuable da dollar is once other countries stop holding it as a

reserve.

 

[wr]

the founding of this country was set up by people running away from the banking elite and it happened anyway. kinda ironic when you say we needs banks to function when that was the anti-thesis of the birth of this nation..

 

[Sir San Diego]

@isiahil

I'm not unemployed. I actually have two jobs, but that's beside the point.

What Bernanke did was, instead of allowing the system to weed out those using poor practices and failing due to poor decision making, he propped them up.

Which do your prefer? A sudden collapse with people learning and fixing the system or this long drawn out collapse? It's not going to be repaired, we might as well face facts.

 

[ninjahood]

Originally Posted by Wr

They don't care about profits. They create the money. It's about controlling the economy. You can't control an economy if you have gold valued as currency and everyday people have the potential to find more. With fiat currency, the only place you will find it is at the printer it came out of.  it's totally artificial and that's why the world is dealing with such rampant corruption, inflation, and political leverage over monopoly money. They make profit by selling debt to entities buying it for more than it's worth and hoping that debt appreciates.

/thread

ya gonna be in for a rude awaking in a couple of years...this country makes nothing anymore, da sooner we change that and da sooner we start holding more gold

is da sooner we'll start to get better as a nation.

 

[jimmybeanz]

Originally Posted by whiterails

Originally Posted by Brolic Scholar

Originally Posted by whiterails

I'm pretty sure it's safe to say that Ben Benanke is more intelligent and better versed in economics then you, OP.
You're hardly in da position to criticize him.    Any fault that you see in his statement is due to your ignorance, not his.

Really now? What makes Bernanke beyond reproach? Do you feel that way about all politicians and "officials"? Are we commoners too dumb to participate in these discussions about our decision makers? What sense does our political system make if that is the case then?

Posting a couple of emoticons is hardly "participating in the discussion".
If you're going to rebuke something, it's generally more effective if you post statements that support your argument instead of "

" and "

".

sheep. you that is. 

 

[getthismoney]

Gold is not money. The rising values of gold and people buying it are just pourin money into a resource they believe is gmore stable than a US dollar. China is buying gold because their currency was built on the US dollar. Gold can't buy you anything, and it can be replaced by any other finite resource or precious metal.

 

[hankmoody]

It will take a cataclysmic event for the dollar standard to end. Even then, government could and probably would intervene so I don't think the gold standard is even a serious option. People in China are investing in gold because they have so few investment opportunities. Look at real rates in China. They are negative.

 

[isiahil]

Originally Posted by Brolic Scholar

@isiahil

I'm not unemployed. I actually have two jobs, but that's beside the point.

What Bernanke did was, instead of allowing the system to weed out those using poor practices and failing due to poor decision making, he propped them up.

Which do your prefer? A sudden collapse with people learning and fixing the system or this long drawn out collapse? It's not going to be repaired, we might as well face facts.

First off,who said because the fed propped us up from this collapse that a "long drawn out collapse" is going to happen? I completely understand the whole let the economy take its course mindset that is taught in economics 101. But if we look at the Great Depression, where nature took its course (everything collapsed). It took about 10 years for that depression to end. On top of that it only ended when the government started spending money it didn't have for WWII. The moral of this story is if the fed would have let banks collapse we could have been worse off in the long term then we are now and just because we avoided a collapse doesnt not mean one still has to happen. The real world is not as black and white as economics 101.

 

[ninjahood]

Originally Posted by HankMoody

It will take a cataclysmic event for the dollar standard to end. Even then, government could and probably would intervene so I don't think the gold standard is even a serious option. People in China are investing in gold because they have so few investment opportunities. Look at real rates in China. They are negative.

China does that on purpose because it artificially lowers da valuse of ita currency.Not to mention it hold da most us debt outta anyone...what do u think, that da USIs actually payin em back? We'd rather devalue our currency & confiscate gold again beforeThat happens.

 

[isiahil]

Originally Posted by ninjahood

Originally Posted by nestasprotege

Ben Bernanke is an extremely intelligent man. This doesn't change the fact that he has made some horrible decisions that have hamstrung America. The idea of injecting money into the economy at will and printing dollars out of thin air is a TRAGEDY.

you know one of da weapons Hitler used in Europe in WWII besides bombings? he dropped off TONS and TONS of counterfieit money into enemy countries

to inflate and derail their currency....something that our country is self inflicting on itself....people dont even understand da debt limit issue...we're BORROWING

money we DONT have to pay for things, guess who holds most of our debt? china...guess who's running and buying a RECORD number of gold from around da world?

you guessed, it...china...if we default and this country's credit card finally declines..will see how much more valuable da dollar is once other countries stop holding it as a

reserve.

China holds nowhere near most of the US debt. If the average person really understood how the global financial markets everyone wouldn't think the US is in terrible shape.

 

[ninjahood]

Originally Posted by GetThisMoney

Gold is not money. The rising values of gold and people buying it are just pourin money into a resource they believe is gmore stable than a US dollar. China is buying gold because their currency was built on the US dollar. Gold can't buy you anything, and it can be replaced by any other finite resource or precious metal.

Gold has been currency for 5000 years & counting b.

 

[isiahil]

Originally Posted by ninjahood

Originally Posted by GetThisMoney

Gold is not money. The rising values of gold and people buying it are just pourin money into a resource they believe is gmore stable than a US dollar. China is buying gold because their currency was built on the US dollar. Gold can't buy you anything, and it can be replaced by any other finite resource or precious metal.

Gold has been currency for 5000 years & counting b.

How is gold a currency if you cant buy anything with it?

 

[thehealthinspector]

Originally Posted by ninjahood

Originally Posted by GetThisMoney

Gold is not money. The rising values of gold and people buying it are just pourin money into a resource they believe is gmore stable than a US dollar. China is buying gold because their currency was built on the US dollar. Gold can't buy you anything, and it can be replaced by any other finite resource or precious metal.

Gold has been currency for 5000 years & counting b.

define your use of "currency" as opposed to "commodity", and which countries actually accept gold as "currency", especially 1st and 2nd world countries

 

[moneymike88]

you dudes are really having an argument on finance with ninjahood? really?

 

[getthismoney]

Originally Posted by ninjahood

Originally Posted by GetThisMoney

Gold is not money. The rising values of gold and people buying it are just pourin money into a resource they believe is gmore stable than a US dollar. China is buying gold because their currency was built on the US dollar. Gold can't buy you anything, and it can be replaced by any other finite resource or precious metal.

Gold has been currency for 5000 years & counting b.

Last time I checked, we don't get paid in gold. Also many countries such as China were backed primarily with silver in past when precious metals were used as main reserves. If gold is the currency, then Germany is the second richest country in the world (USA has the most).

 

[wr]

Originally Posted by isiahil

Originally Posted by ninjahood

Originally Posted by GetThisMoney

Gold is not money. The rising values of gold and people buying it are just pourin money into a resource they believe is gmore stable than a US dollar. China is buying gold because their currency was built on the US dollar. Gold can't buy you anything, and it can be replaced by any other finite resource or precious metal.

Gold has been currency for 5000 years & counting b.

How is gold a currency if you cant buy anything with it?

You just can't buy anything with it now.
because it is how nations backed up their wealth for thousands of years until us legislation made the u.s. dollar the top dog over night. 
the u.s. dollar became the reserve currency for the world. It replaced gold. So if you're a country needing to participate in the IMF, instead of purchasing raw material like oil with gold converted from your state currency, you had to convert your state/country currency to us dollar in order to participate. Now which is more homogeneous to all countries of the world. The U.S. dollar, or gold? If it's the dollar, please tell me which mountain side deposit i have to dig into to extract raw dollar bills from the earth. 

the only reason the bankers like this system is because when depressions cycle comes back around, and non party entity can inject hurt players of the game with life support and adreniline to stay inn competition. With out this system, these companies would have failed a long time ago and been replaced with new innovation and something that actually works. 

The saying goes " If it ain't broke, don't fix it."

We have a system that works based on being broken from the jump. The system works for some which is why they won't fix it.

 

[ninjahood]

Originally Posted by moneymike88

you dudes are really having an argument on finance with ninjahood? really?

Meanwhile ur idea of financial intelligence is stuffin da ballot box @ niketown tryin to resellStash air force I's

 

[oo master chief oo]

I think ninjahood should be head of da fed

 

[moneymike88]

Originally Posted by ninjahood

Originally Posted by moneymike88

you dudes are really having an argument on finance with ninjahood? really?

Meanwhile ur idea of financial intelligence is stuffin da ballot box @ niketown tryin to resellStash air force I's

...3 years ago

 

[rashi]

Originally Posted by nestasprotege

Ben Bernanke is an extremely intelligent man. This doesn't change the fact that he has made some horrible decisions that have hamstrung America. The idea of injecting money into the economy at will and printing dollars out of thin air is a TRAGEDY.

The inflationist in your Avy believed that the Great Depression happened because the Fed didn't print enough money.

 

[adiosburritos]

Originally Posted by ninjahood

Originally Posted by moneymike88

you dudes are really having an argument on finance with ninjahood? really?

Meanwhile ur idea of financial intelligence is stuffin da ballot box @ niketown tryin to resellStash air force I's

what a lame

 

[witnesskb24]

Originally Posted by isiahil

Originally Posted by ninjahood

Originally Posted by nestasprotege

Ben Bernanke is an extremely intelligent man. This doesn't change the fact that he has made some horrible decisions that have hamstrung America. The idea of injecting money into the economy at will and printing dollars out of thin air is a TRAGEDY.

you know one of da weapons Hitler used in Europe in WWII besides bombings? he dropped off TONS and TONS of counterfieit money into enemy countries

to inflate and derail their currency....something that our country is self inflicting on itself....people dont even understand da debt limit issue...we're BORROWING

money we DONT have to pay for things, guess who holds most of our debt? china...guess who's running and buying a RECORD number of gold from around da world?

you guessed, it...china...if we default and this country's credit card finally declines..will see how much more valuable da dollar is once other countries stop holding it as a

reserve.

China holds nowhere near most of the US debt. If the average person really understood how the global financial markets everyone wouldn't think the US is in terrible shape.

He's going to skip over this because he can't accept being wrong, or he will find some roundabout way to make it seem like you proved his point.
**Waits for devildog to come in here and school some cats**

 

[wr]

they just say that about china and japan being highest debt holders to drop the seeds of hate in media for the next us enemy

 

[essential1]

The answer is it is and it isn't.....

It is money in that it has monetary value...... It is not money in that none of us can go to Wal-Mart, the Home Depot and buy things with gold.. The practice of buying an item with gold is a practice that hasn't been done in a good amount of time...

But gold is not our currency... So Bernanke is technically correct..

 

[Sir San Diego]

Made my man log off quickly with the ballot box flashback.