Ron Paul schools Fed Chairman Ben Bernanke once again.

[Vatican_Assassin]

Always fun watching these videos....

 

[ufojoe]

I like RP but where did he "school" him?

[kevabuc]

I got to agree with Joe on this. in order for a proper schooling to take place the "Scoolie" must have a lack of understanding to the principles that he is being schooled in. Bernanke understands that everything Paul said is correct but that is not his job. His job is to print a ton of Monopoly money and then magically portrey it as real, much like turning lead into gold.

Bernanke is not an economist, he is an alchemist.

[Morgan]

Ron Paul schools Fed Chairman Ben Bernanke once again.

You've got it backwards.

[Biggs3535]

Here is the exchange:

    Rep. Paul: Do you think Gold is Money?

    Bernanke: No….

    Rep. Paul: It’s not money? Even if it was a precious metal for 6000 years somebody reversed that, eliminated that economic law?

    Beranke: Well…it’s an asset. Would you say treasury bills are money? I don‘t think they’re money either.

    Rep. Paul: Why do Central Banks hold it?

    Bernanke: It’s a form of reserves.

    Rep. Paul: Why do central banks hold it? Why don’t they hold diamonds?

    Bernanke: Tradition, long term tradition…

    Rep. Paul: Some People Still think it’s money


Some other stats Paul mentioned under the current regime:

* the National Debt went up $5 trillion
* average unemployment used to be 17 weeks — now it’s 40 weeks
* prices have gone up 9% every year.
* Paul also pointed out that if consumer spending were truly important to the economy,  the federal government could have given a check for $17,000 to every man, woman, and child in America for the cost of the $5 trillion debt increase.

[Skull and Bones]

Paul also pointed out that if consumer spending were truly important to the economy,  the federal government could have given a check for $17,000 to every man, woman, and child in America for the cost of the $5 trillion debt increase.


that just boggles my mind.

[Morgan]

Why would he tell Bernanke that? Maybe Paul ought to be invited to the meetings w/ Speaker of the House Cantor Boehner. Political grandstanding by a a presidential candidate. 

[Durango 95]

I agree, if Obama had done this it would be political grandstanding on his part.

But since it is coming from a man that has been talking about these specific issues for decades, It's considered serious inquiry from an informed point of view.

[Biggs3535]

an informed point of view.

Ah, now there's something 'ole Morgan wouldn't recognize if it smacked him in the face.

[dbucfan]

Why would he tell Bernanke that?

Maybe because it is accurate?  Maybe because it demonstrates the impact in terms just about anyone can understand.  Please note, everyone will not see this clearly

[Morgan]

Wrong gov't agency to try to lecture.

[dbucfan]

I no longer believe there is a government agency that shouldn't be lectured. 

[Morgan]

Since Paul has been part of the Washington D.C. Beltway establishment for nearly  30 yrs, I'm sure he's got the expertise to lecture - but should save it for his fellow members of congress.

[Durango 95]

Paul's priority is to connect with the American people.  That is his strength. Congress takes a back seat  for the moment.

[dbucfan]

and then there is the likelihood Bernanke has made errors...