This is pretty comical because Bernanke already understands everything Ron Paul is saying. Bernanke also understands that Paul knows what's going on, that this hearing means nothing, and that Bernanke is doing what's expected of him and what other Chairmen before him have done. If you look at the hearings from '11 and '10 and '09, the responses Bernanke gives are almost exactly the same. I don't blame Ben, I bet he's actually a pretty cool guy and I wouldn't mind cracking open a few beers with him and talking REAL economics. I'm sure he knows how much shit we are in...
How is he a scumbag? You can't say that about someone in an appointed position because if he doesn't do what's expected of him, Obama will just replace him with someone else and you'll call that person a scumbag. Why don't you find one of your Senators and call him/her a scumbag for approving the President's nomination?
RP made many points that hopefully got the layman thinking.. It was pretty obvious RP has specific goals in that exchange and he nailed them. Most specifically RP attempted to conceptualize the loss in value of fiat dollars by defining silver in # of gas tanks that fill you car. I also thought his comment on using the old CPI to more accurately address real inflation (9%) was intriguing.. 2% inflation, how ridiculous is that bullshit.. I also enjoyed hearing Bernanke's voice crack while he explained that the inflation numbers were calculated by independent agency and that he believed they were "thoughtful estimates".
A fucking men! Thats like saying the SS guy is fine because if he complained he would be fired. Give me a break! Bernanke doesn't need to be Fed Chairman if he was a good guy he would resign in protest at all the shit going on and travel the country with Ron Paul telling people how it is. Now thats what a stand up guy would do. Not go a long with it for fucksakes!
It's not as if Fed Chaimen have always been this horrible either. Volcker put the brake on inflation hard. He stopped the heavy inflation of the 70's by raising interest rates sharply. The federal funds rate was raised all the way to 20%! Compare that to the current rate of 0.00%, lol. Volcker did this knowing the political backlash that would await him. He was later fired by the Reagan administration. That's what a Fed chairman is supposed to do. The right god damn thing, regardless of what the President or anyone else wants. That's the whole premise of the Fed's so called independence of the branches of government. They say it's done in order to free the Fed from political pressure and influence. So much for that idea huh? Bernanke is a complete piece of shit and deserves no respect at all. An utter failure.
QFT! This also applies to those in power that literally enable this manipulation of money to increase the intake of it to those in power(IOW the 1%), while at the same time decreasing from the rest of us... It's just sickening to see the State as the EXACT thing that our forefathers intended to prevent when they gave us the Constitution. So who's taking bets on whether Dr. Paul actually wins a state or two next Tuesday? 10 freaking states, it's pretty fucked how obvious the whole election has been rigged from the beginning is. Sorry if this is a little confusing, all I can say is, my little Afghan Kush Ryder is FRIGGIN' SWEET!
While that is true I still think hes scum for going along with everything but I did enjoy every moment of it. Paul knows he needs to take these opportunities to explain it so anyone who's listening and unaware may start to get it. Problem is most people who give a shit enough to watch something like this usually is smart enough to already understand how much shit we are really in while others enjoy blissful ignorance. I also think it's hilarious the attempt at silver suppression thats going on when silver makes a $4 dollar move in the market in 30 min as soon as this back and forth was over.
I'd run for Congress but then some Santorumish candidate would distract people from liberty and economic issues by pointing out I smoke pot and am not a Christian and then some Obamaish candidate would promise everybody free shit. So yeah waste of time.
Let's not forget that you have to backstab your way to the top, maybe this is why so many politicians are corrupt.
Gold went from $280 an oz a decade ago to $1700ish an oz as of today. I think the man is doing just fine
Would you shut up about hyperinflation already. There's almost no one that is saying it will definitely happen. I've only heard one analyst ever predict that, and I don't remember his name.