Ron Paul vs. Ben Bernanke -- 2/29/12
Video Statistics and Information
Channel: CongressmanRonPaul
Views: 64,907
Rating: 4.9615102 out of 5
Keywords: fed, ron, paul, monetary, policy, competing, currencies, silver, inflation, CPI
Id: G7K9YASQ3do
Channel Id: undefined
Length: 9min 11sec (551 seconds)
Published: Wed Feb 29 2012
Please note that this website is currently a work in progress! Lots of interesting data and statistics to come.
"This whole idea"...
I love Paul's speaking, he sounds more like a teacher than a politician.
Loved this analogy. Very easy to grasp even if you don't understand economics.
Can anyone provide some information as to what Ron Paul is referring to when he talks about the inevitable collapse of paper money? He talks as though it's self evident, but I didn't hear (or understand) the part where he explains why that is. Just genuinely curious.
Edit: Thanks.
Interesting comments he made about the Silver Eagle. People have been using them to pay debts and because it has a face value of $1 and the silver value is about $30 they can save money on taxes.
Here is a video of someone explaining the process, at the time of it's recording, silver was about $20 and ounce.
The two values, $1 face and $30 silver works this way. Someone can pay you $30 an hour and at 40 hours a week you would make $1200. You get taxed on that $1200. But if you get paid in Silver Eagles with a face value of $1 then you are paid $40 and you only pay tax on the $40. Once you cash in your Eagles you now have $1200, but you only paid taxes on $40.
It's completely legal but the government doesn't like you hacking the system. I think the real reason is because it would end the fed if the idea caught on.
Of course they like it when it goes the other way, having to pay taxes on a dollar with a face value of $1 and and intrinsic value of worthless paper.
Saw this after MJ 23 vs. MJ 29 and was disappointed.
I wish he were somehow 40 years old :/. Sad to think we won't have him fighting the good fight in these hearings.
My active research while this was going on. Ron Paul mentioned the price of silver per oz in 2006 compared to today vs the price of gas.
I don't think his numbers are 100% accurate, but his overall point is correct, 1oz of silver will buy more gas today. Just not as much as he said.
Using this I tracked silver in 06 and 11-12, and found that in 06 it peaked around 14.50 USD, and lows was in the 7 USD range.
According to this the price of gas, on average, in 2006 was $2.48 per gallon.
Here is the price of gas nationally at this time. I can confirm my location is pretty much correct. ~$3.50 USD per gal.
I don't have time to math this out, as I must leave for work. I might work the details of this out later if someone doesn't for me.
Please note, I am not trying to say Ron Paul was mathematically wrong, I agree with most of what that man says, I am just trying to get a more accurate picture.
why dont people who are concerned with inflation of the dollar simply buy silver and invest in gold?