Is gold money? Ron Paul makes Ben Bernanke squirm.

[Feuer Frei!]

A Deer caught in the headlights, when Ron Paul asks Bernanke about this:



Congressman Ron Paul questions Fed Chair Ben Bernanke in the U.S. House Financial Services Committee meeting.

Dated 13 July.

[Anthony W.]

Gold is money. Cash and coin are not. Cash and coin are only representations of gold.

[Sailor Steve]

Actually money is whatever we choose to use as a trade medium. Some societies use beads as money. Bernanke may be an idiot, but in this case he has a point. Gold is a precious metal against which we measure value. When gold was removed as our standard it was selling for $35 per ounce. What did he say it is now? $1500?

An old boss of mine once told me that things don't get more expensive, money is just worth less. People used to complain that "In 1900 you could buy a steak dinner for a quarter". Then I found out that in 1900 $30 per month was considered a good wage. Then my old boss pointed out that if you had a 1900 quarter it would still buy you a steak dinner.

But Ron Paul is the best. Too bad he's seventy-six years old.

[Anthony W.]

Originally Posted by Sailor Steve

Actually money is whatever we choose to use as a trade medium. Some societies use beads as money. Bernanke may be an idiot, but in this case he has a point. Gold is a precious metal against which we measure value. When gold was removed as our standard it was selling for $35 per ounce. What did he say it is now? $1500?

An old boss of mine once told me that things don't get more expensive, money is just worth less. People used to complain that "In 1900 you could buy a steak dinner for a quarter". Then I found out that in 1900 $30 per month was considered a good wage. Then my old boss pointed out that if you had a 1900 quarter it would still buy you a steak dinner.

But Ron Paul is the best. Too bad he's seventy-six years old.

Why is age such an issue with people? 76 is nothing. My grandfather was sharp as a tack and went to work every day till he was 94.

And - my grandmother does that to me. I always remind her that back then, a quarter was almost 4 dollars (inflation calculated), and 30 dollars was almost 500.

[Sailor Steve]

Originally Posted by Anthony W.

Why is age such an issue with people? 76 is nothing. My grandfather was sharp as a tack and went to work every day till he was 94.

Age an issue with me? I'm 61 and I still play in a fairly hardcore band. That said, if he's elected he'll be 81 at the end of his first term, which means he has a fair chance of not making it that long, which I'd hate to see happen, but there it is. It's not the mental skills I'm worried about, it's the staying power.

[Feuer Frei!]

Originally Posted by Sailor Steve

It's not the mental skills I'm worried about, it's the staying power.

And let's not forget from a marketing point of view.
From a selling view point, voters would never go for it.

[August]

Originally Posted by Sailor Steve

Age an issue with me? I'm 61 and I still play in a fairly hardcore band. That said, if he's elected he'll be 81 at the end of his first term, which means he has a fair chance of not making it that long, which I'd hate to see happen, but there it is. It's not the mental skills I'm worried about, it's the staying power.

Exactly, and the Presidency in particular is a job that seriously ages people. Obama has only been in office three years and you can already see a major difference.

[TLAM Strike]

Originally Posted by Anthony W.

Cash and coin are only representations of gold.

Actually its not, US Dollars are "Fiat Money", it only has value because the US Treasury says it does- it is not backed by gold or silver anymore.

[Anthony W.]

Originally Posted by TLAM Strike

Actually its not, US Dollars are "Fiat Money", it only has value because the US Treasury says it does- it is not backed by gold or silver anymore.

Yeah, forgot about that.

Damn feds.

Originally Posted by Anthony W.

Yeah, forgot about that.

Damn feds.

And, damn "Federal" Reserve.