Ron Paul Discusses Why the Federal Reserve is Destroying the US Economy

The relationship between Gold and dollar also known as gold standard was demolished by Nixon in 1971, so you are only 36 years behind time.

You are so stupid that interestingly enough your lack of knowledge and stupidity doesn't even surprise me anymore.

 

I took you off of ban just to see what you wrote, since you replied so quickly to my post....and just to prove you wrong...it was 1975 that the US dollar went to using foreign markets, not 1971. Also, from wiki:

http://en.wikipedia.org/wiki/United_States_dollar

If you will follow the link, what you will see is that major countries such as the US, the UK, and Switzerland, France, and other European countries still "indirectly" use Gold as their backing. If this was not the case, then the US could sell all its gold to pay off national debt. However, considering that GLOBAL MARKETS still use Gold, the US $ is still directly tied to the amount of Gold that the US has...so therefore, the US cannot just "print" all the money that it needs. Not only are you showing your ignorant amount of knowledge of the US and its economic parts, but you are showing the ignorant amount of stupidity that you really have....now that I have proved you wrong, once again, it is time for you to go back on my ban list...

some reads for you, since you didn't learn anything good in collAge:

http://en.wikipedia.org/wiki/Foreign_exchange_market
http://www.google.com/search?hl=en&q=is+gold+used+as+a+measure+in+foreign+markets&btnG=Google+Search

 

Do you really believe with all your nonsense about global market and blah, blah you are fooling anyone, so they can't see that your post was absolute nonsense and you as usual talking out of your ass?

 

d16, the dollar is no longer backed by gold and hasn´t been backed by gold since 1933.

In fact the more the dollar weakens the more prices of gold and silver go up.

The central bank does not like the currency being affected by commodities it cannot control, such as gold, so in reality gold and the dollar are like oil and water.

 

Ron Paul has the right idea, the Austrian school of economics. As long as we have a paper currency that is not backed by hard assets, the citizens of that country will pay higher prices and many will be pushed into poverty.

The banks are actually afraid of precious metals, especially silver. The reason for this is because these metals can free the common man from the clutches of the banks. How? Simple. If you are using a currency that is backed by Gold or Silver, inflation is kept to a minimum, because the government is limited in how much paper money it can print.

This means that prices for goods and services will be affordable, which means the citizens will be able to save more money, and over time, their savings won't be eaten up by inflation. In this type of economy, the typical citizen has little incentive to borrow.

 

I have been reading this forum only a day so far and it looks like i found the weakest link already GTECH! Hey gtech...ya ya ya whatever you want to do or think but isn't it great being a 36%er?

 

LOL mate. He's insane and he has many many groupies in his "crazy gang."

I expect to see you with a red blob next to your name soon because his followers will do that to you because you are against their mentor.

People to watch out for are Mia, lorien, DevilHelz, d16man, Will Spencer, ly2 amongst others.

Welcome to P&R.

 

You have some basic questions I had when I first started educating myself on the monetary system in march of 2005.

This chart helps answer many of your questions.

Remember, the federal bank of the united states is a private bank. Congress itself has not audited this bank and through legislation has made it self a slave of this bank.

President Jackson fought to keep the banks out of this country. He said we don't need them and that America can print is own money and control its own debt. That was the case before congress was eager to please its masters by allowing the Federal reserve to take over American Currency in 1913.

A loaf of bread remained/cost (value of sale) five cents for over 100 years. After the private bank took over, bread started to inflate in value, not due to greater expenses, but the inflationary tax. Now bread is very expensive.

Imagine that? Adding a Bank that is accountable to no one. Can print money that itself has no hard backing. Can charge interest and can control the American economy by extorting - through loan, withholding of loans, interest and calling of loans back - even at the detriment of those who trusted the banks longterm backing.

Its Fiat at its best.


D

 

All people who think d16boy is a moron who always talks out of his A*s raise your hand.