Comments on: Bernanke channeled Keynes to deflect Paul Shining a light on the dismal science Wed, 16 Nov 2016 01:39:19 +0000 hourly 1 By: coyotle Sun, 04 Sep 2011 16:02:50 +0000 Gold Standard, Schmold Standard. At this point it is all meaningless. The U.S. produces nothing so a gold standard would bleed Fort Knox in Fort Night because of foreign balance of trade settlements leaving us broke. Fiat currency will render us the same through inflation as the Federal government runs up debt with the Federal Reserve Board enabling.

The real issue is the Congress legislating away Constitutional Powers to others. Such acts of Congress violate Constitutional Law and have only centralized power in the hands of a few (Federal Reserve board Act, War Powers Acts, Patriot Act, Homeland Security Act and now the “Super Congress of Ten” with the President casting the final vote in a tie.

Only the People have the right to change the distribution of powers to the three branches of government and (or) create more branches(the FED)). This vehicle of change is called Constitutional Amendment. Such usurpation of power by a few in our government is called Despotism. Those who enabled it (our Congress) are called sycophants.

By: dkey1983 Sat, 03 Sep 2011 01:40:12 +0000 Ron Paul doesn’t necessarily want us back on the gold standard. What he wants is for the federal reserve to not have sole monopoly over money. He believes in at least legalizing gold and silver as legal tender. Let there be competition. If gold and silver start being used in place of the dollar, then what’s wrong with that?

I am absolutely disgusted by this idea that the most powerful bankers in the world get together and decide what our monetary policy is going to be. How could anyone think this is a good idea? No, let there be multiple currencies competing at all times. If people start noticing their savings dwindling by holding dollars, they shouldn’t have to stick it in the risk stock market just to keep it from losing its value. They should be able to get rid of it and use a different currency that isn’t losing its value. This is common sense stuff.

Also, if gold is so terrible, answer me this: Would you rather stick $1,900 worth of u.s. dollars in a shoe box for 20 years, or 1 oz of gold in a shoe box for 20 years? It’s not a hard choice, guys.

By: NewBrother Fri, 02 Sep 2011 23:18:26 +0000 Try walking into an African village and paying for meal with a piece of paper with dead white guy on it. See how far that will get you. Offer a gold coin though and you’ll eat like a king. You probably would in Des Moines or New York City just as easily. Those who think gold isn’t money have simply never tried.

By: smacebr Fri, 02 Sep 2011 22:41:48 +0000 There’s an essay from Alan Greenspan, former FED chairman about “Gold and Economic Freedom” that is a must reading. Check: n_gold.htm

By: igoodnessi Fri, 02 Sep 2011 18:47:23 +0000 Is this supposed to be a gotcha article on Dr. Paul? The Fed prints money with absolutely NO wealth to back up the stated value on the bills and distributes them to foreign banks and corporations in the form of ‘loans’ and ‘stimulus’ and in doing so robs every American who holds treasury notes. Nice try but, the masses can read and they’ve found out about the Central Bank of Oz and they’re not happy about it… stop trying to bail-out the titanic, it’s sinking, let it go…

By: thomaspaine Fri, 02 Sep 2011 17:44:42 +0000 what was the point to this article?

It doesnt shock anyone that bernanke supports keynes or keynesian economics.

It also shouldnt shock anyone that keynesian economics is sending Americas economy into recession mode again.

There are some principles that cannot be ignored.
1 – the printing of fiat money at a rapid rate will eventually lead to hyperinflation.
2 – Every empire tries to overexpand, be it through warfare or through bureaucracy will eventually cause economic or militarial disaster –

What you should titled this article: Paul channeled Common Sense and Freedom to Bernanke

I’m not a fan of simply the gold standard on its own – but it is money, regardless of what Bernanke says and one should be able to trade it or use it as legal tender. Either that or theres millions of insane people paying 1900 dollars for an ounce of metal.

Not that I fault Keynes. He wrote during the depression and during that time they needed a different philosophy – and I’m sure economists, politicians, the media, and corporations have all slandered his original intent and theories. Paul Krugman is a new Keynesian, some other egotist is an old.

Whatever the case – its failing. time for a new philosophy.

By: whatever5678 Fri, 02 Sep 2011 17:13:57 +0000 That’s why the price of gold has skyrocketed, right… What about having dollars bills actually BACKED by gold, then you could pay for stuff with technically with gold.

Why DO central banks hold gold? They should sell it and put the earnings towards the debt. What good does it do them to have it, for supposedly no purpose. “Tradition”, doesn’t really make a lot of sense to me.

By: hjmaiere Fri, 02 Sep 2011 14:34:53 +0000 if gold’s use as a medium of exchange was merely a matter of tradition, why is it illegal to use gold as money even now?

The truth is of course that fiat currency is imposed upon us by government force. And it is imposed upon us for one and only one reason: The bankers and the government can print up more of their magic tokens any time they want.