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Video: Dr. Paul vs. Bernanke at Financial Services Committee Hearing 7/13/11 - 'Is gold money?'

Video Update:


Ever keeping us in the loop, Minnesota Chris writes to inform us:

Just a heads-up that Dr. Paul plans to attend tomorrow's Financial Services Committee hearing featuring Ben Bernanke at 10:00am EDT: Full Details Here

Live webcast here

The hearing is also scheduled to be carried on C-SPAN3, which typically has better audio quality than the committee feed:

And it should be available here some time after it airs here.


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luv this vid

and luv the way Helicopter Ben adjusts from a posture of bored apathy in the early parts of questioning to the "deer in the headlights" as Dr. Paul (literally) closes the discussion. Too funny!

Gold is....

Gold is the money of Kings
Silver is the money of Gentleman
Barter is the money of Peasants
Debt is the money of Slaves...

~Someone on the Daily Paul~

For Freedom!
The World is my country, all mankind is my brethren, to do good is my religion.

My friend sent me this

In efforts to make Ron Paul sound foolish, my friend sent me this blog from the Economist.


Amusement aside, the disappointing thing about Ron Paul's goldbuggery is the weakness of the analysis behind it. His support seems almost mystic in nature: that gold is money is a law of economics that's held for 6,000 years! In his defence, this quasi-mystical belief in the sanctity of gold in a monetary system was shared by the world's financial leaders for much of the industrial period. That's not much of a defence, though. Gold worship repeatedly drove the economy into ditches and off cliffs, but for a few lucky years in which the pace of new gold discoveries fortuitously matched growth in the global economy.

A Retort !

Ask your friend if any country, in the history of the world has ever been so far in debt, under a Gold/Silver standard, as the USA or many of the European countries are right now?

And yes, debt is a form of slavery, and a national debt enslaves everyone in the country.


I agree

I wrote a long response back about this totally is crud. Gold is something is an asset that has been used as currency for thousands of years. This country at one time backed our currency by gold.

Gold is of something of substance and can not be printed. It is also not controlled by one private bank.

I also explained that Ron Paul would love to have multiple competing currencies. I also explained that Keynes model of economics is what has helped lead to this recession and how any economy that has to be manufactured by stimulation and printing presses will always leave somebody with an unwanted bill. We need a correction and liquidation of our bad assets before we will see any growth in this country. All this other stuff if magic.

Cricket Version..Ron Paul vs. Bernanke Is Gold Money? Long Pause

Check out this Cricket Version of Ron Paul vs. Bernanke - Is Gold Money? Short clip. Very funny!



The good docter

needs to ask while holding an older 20 dollar bill exacly what does this mean ? "pay to the bearer on demand in lawful money " follow up "what is lawful money"

A fool and his money are soon parted.

Front page material

This needs to stay up on the front page for a while. People need to see that the person that runs our monetary system doesn't know why we hold gold as reserves.

The American Revolution (1764 - 1781)


By the mid 1700's Britain was at its height of power, but was also heavily in debt.

Since the creation of the Bank of England, they had suffered four costly wars and the total debt now stood at £140,000,000, (which in those days was a lot of money).

In order to make their interest payments to the bank, the British government set about a programme to try to raise revenues from their American colonies, largely through an extensive programme of taxation.

There was a shortage of material for minting coins in the colonies, so they began to print their own paper money, which they called Colonial Script. This provided a very successful means of exchange and also gave the colonies a sense of identity. Colonial Script was money provided to help the exchange of goods. It was debt free paper money not backed by gold or silver.

During a visit to Britain in 1763, The Bank of England asked Benjamin Franklin how he would account for the new found prosperity in the colonies. Franklin replied.

"That is simple. In the colonies we issue our own money. It is called Colonial Script. We issue it in proper proportion to the demands of trade and industry to make the products pass easily from the producers to the consumers.

In this manner, creating for ourselves our own paper money, we control its purchasing power, and we have no interest to pay to no one."
Benjamin Franklin 1

America had learned that the people's confidence in the currency was all they needed, and they could be free of borrowing debts. That would mean being free of the Bank of England.

In Response the world's most powerful independent bank used its influence on the British parliament to press for the passing of the Currency Act of 1764.

This act made it illegal for the colonies to print their own money, and forced them to pay all future taxes to Britain in silver or gold.

Here is what Franklin said after that.

"In one year, the conditions were so reversed that the era of prosperity ended, and a depression set in, to such an extent that the streets of the Colonies were filled with unemployed."
Benjamin Franklin

"The colonies would gladly have borne the little tax on tea and other matters had it not been that England took away from the colonies their money, which created unemployment and dissatisfaction. The inability of the colonists to get power to issue their own money permanently out of the hands of George III and the international bankers was the PRIME reason for the Revolutionary War."
Benjamin Franklin's autobiography

By the time the war began on 19th April 1775 much of the gold and silver had been taken by British taxation. They were left with no other choice but to print money to finance the war.

What is interesting here is that Colonial Script was actually working so well, it became a threat to the established economic system of the time.

The idea of issuing money as Franklin put it "in proper proportion to the demands of trade and industry" and not charging any interest, was not causing any problems or inflation. This unfortunately was alien to the Bank of England which only issued money for the sake of making a profit for its shareholder's.

CNN link confirms New Ron

CNN link confirms New Ron Paul Ad will expand to cover Nevada as well. Must read article! Ron Paul did very well in Nevada during the 08' primaries. This is MONEY BOMB money well spent!



FED Chairman is in the middle

of a gargantuan experiment going badly. . . he himself seems at times to struggle with its norms.

It must be a very sticky situation for him psychologically.

And then you have Ron Paul coming up with the simple discussion towards the end about gold, and you get the impression that the FED is somehow walking up from a hypnotic dream. . .

urgent message to ron paul fans everywhere

In these final months of campaign we have to spread freedom more than ever and we have to work as one so please join me on Twitter justinr93 and if u have Google+ or would like to have it email me at justinr93@gmail.com
We need to spread a new virus...a virus for freedom!!! Repost this in as many comments as you can let's show them we're not just sheep!

“When one gets in bed with government, one must expect the diseases it spreads.”
― Ron Paul

Gold is not money?

- Currency in the bible -

Gen 23:14-16

14 And Ephron answered Abraham, saying to him, 15 "My lord, listen to me; the land is worth four hundred shekels of silver. What is that between you and me? So bury your dead." 16 And Abraham listened to Ephron; and Abraham weighed out the silver for Ephron which he had named in the hearing of the sons of Heth, four hundred shekels of silver, currency of the merchants.

Num 3:44-51

44 Then the LORD spoke to Moses, saying: 45 "Take the Levites instead of all the firstborn among the children of Israel, and the livestock of the Levites instead of their livestock. The Levites shall be Mine: I am the LORD. 46 And for the redemption of the two hundred and seventy-three of the firstborn of the children of Israel, who are more than the number of the Levites, 47 you shall take five shekels for each one individually; you shall take them in the currency of the shekel of the sanctuary, the shekel of twenty gerahs. 48 And you shall give the money, with which the excess number of them is redeemed, to Aaron and his sons."

49 So Moses took the redemption money from those who were over and above those who were redeemed by the Levites. 50 From the firstborn of the children of Israel he took the money, one thousand three hundred and sixty-five shekels, according to the shekel of the sanctuary. 51 And Moses gave their redemption money to Aaron and his sons, according to the word of the LORD, as the LORD commanded Moses.

- Gold in the bible -

Gen 13:2-3
2 Abram was very rich in livestock, in silver, and in gold.

Gen 44:7-9
8 Look, we brought back to you from the land of Canaan the money which we found in the mouth of our sacks. How then could we steal silver or gold from your lord's house?

Deut 8:11-17

11 "Beware that you do not forget the LORD your God by not keeping His commandments, His judgments, and His statutes which I command you today, 12 lest — when you have eaten and are full, and have built beautiful houses and dwell in them; 13 and when your herds and your flocks multiply, and your silver and your gold are multiplied, and all that you have is multiplied; 14 when your heart is lifted up, and you forget the LORD your God who brought you out of the land of Egypt, from the house of bondage; 15 who led you through that great and terrible wilderness, in which were fiery serpents and scorpions and thirsty land where there was no water; who brought water for you out of the flinty rock; 16 who fed you in the wilderness with manna, which your fathers did not know, that He might humble you and that He might test you, to do you good in the end — 17 then you say in your heart, 'My power and the might of my hand have gained me this wealth.

1 Kings 10:14-15

The weight of gold that came to Solomon yearly was six hundred and sixty-six talents of gold , 15 besides that from the traveling merchants, from the income of traders, from all the kings of Arabia, and from the governors of the country.

Prov 3:13-14

13 Happy is the man who finds wisdom,
And the man who gains understanding;
14 For her proceeds are better than the profits of silver,
And her gain than fine gold.

Prov 8:14-21

I am understanding, I have strength.
15 By me kings reign,
And rulers decree justice.
16 By me princes rule, and nobles,
All the judges of the earth.
17 I love those who love me,
And those who seek me diligently will find me.
18 Riches and honor are with me,
Enduring riches and righteousness.
19 My fruit is better than gold , yes, than fine gold ,
And my revenue than choice silver.
20 I traverse the way of righteousness,
In the midst of the paths of justice,
21 That I may cause those who love me to inherit wealth,
That I may fill their treasuries.

Hag 2:8
8'The silver is Mine, and the gold is Mine,' says the LORD of hosts.

- Money in the bible -

Matt 10:9-10
9 Provide neither gold nor silver nor copper in your money belts,

Gen 1:1 - Matt 17:27

Jesus said to him, "Then the sons are free. 27 Nevertheless, lest we offend them, go to the sea, cast in a hook, and take the fish that comes up first. And when you have opened its mouth, you will find a piece of money ; take that and give it to them for Me and you."

Matt 22:19

19 Show Me the tax money."

So they brought Him a denarius.

I think it is clear God sees gold and silver as money. Not one time is Federal reserve Note or Treasury Bills mentioned in the bible.

How did they get a Liberty Dollar conviction?

I am not an atorney, but how did they get a counterfiting conviction of the guy who develope the "Liberty Dollar" if gold is money.

One minute clip of the last part of the video

Chairman Bernanke: “No, Congressman Paul, gold is not money. You see, money grows on trees… err, I mean in trees. We turn the trees into paper and with our magic ink coupled with the proper talismanic incantation…SHAZAM!… it becomes money!”
Congressman Ron Paul: “So after being used as money for 6,000 years the laws of economics have given way to the whims of the Federal Reserve?”
Chairman Bernanke: “Absolutely. The mere fact that gold has always fulfilled the essential functions of money—it is medium of exchange, a unit of account, and a store of value—cannot withstand my all powerful control of our fiat money system. The laws of economics do not determine value, I do.”

Gold Eagles

What does a 1 oz. Gold Eagle say...5o dollar as in fifty dollar gold piece


Gold isn't money?

What planet is Bernanke from? Give me gold instead of paper any day.


Ron Paul- NO DEALS

Best line of the commercial.

I was so amazed to see that

I was so amazed to see that yesterday this video capped at 302 views on youtube with over 2000 'likes' or thumbs up and today it is capped at 83,293 so that being youtubes new cap on the video i can only imagine what the real number is the message is spreading more rapidly than they can stop

The Ron Paul campaign is out of sight come join the revolution it really is something other than else!

300 cap

Youtube temporarily caps its views when it reaches over 300 because after 300 it begins verifying that all the views are from unique computers versus one person refreshing their browser and viewing the video over and over again to inflate the view count.

NCMarc's picture


popular videos get put into a cache mechanism, all in RAM on youtube servers, during this time, views are not counted in real time, but in a cron job, every few hours. views are only ever a representation of unique visitors.

A great empire, like a great cake, is most easily diminished at the edges. - Ben Franklin

Oh i did not know that.

Oh i did not know that. thanks

The Ron Paul campaign is out of sight come join the revolution it really is something other than else!

the woman sitting behind

the woman sitting behind Bernanke wasn't nodding her approval anymore when he said Gold wasn't money...she was chewing her lip.

Gold = Money

“Gold is Money, Everything Else is Credit” JP Morgan, in a famous quote to the US Congress in 1912.

Previously posted by m72mc.

Grain backed currency

Since we have the great plains aka bread basket of the world why do we not issue a grain backed currency ? we could then trade with the opec nations oil backed currency. And of course there could be a gold and silver backed currency by those holding and or producing gold and or silver. This is the best solution to the debt backed currency problem.

A fool and his money are soon parted.

Grain doesn't make for good

Grain doesn't make for good money. It's hard to store. Can be corrupted and grown in excess.

Gold is incorruptible, easily made into coins and other manageable materials and there is a finite amount on this planet.

You can barter for stuff with grain, but would not be considered real money.

Free Luna!

The Bernack is in front of the senate today

and of course, they are all kissing his backside.

"Necessity is the plea for every infringement of human freedom. It is argument of tyrants. It is the creed of slaves." William Pitt in the House of Commons November 18, 1783
"I have one word for you...predator drones. Oh, you think I'm kidding?" Obombya

DR. Paul please ask this

Please ask, Mr. Bernanke, "Where did you get the money to buy treasuries?" Let him squirm.

These simple questions like "Is Gold Money?" are amazingly effective.

Please please ask this question!

Ask him the actual process of making money and make him answer. Make him explain how he punches in the zeros on a computer!!!!!!

Mr. Bernanke Unwittingly Helped Dr. Paul's Presidential,,,

Campaign yesterday.

After the televised exchange between Mr. Bernanke and Ron Paul yesterday, my wife and I went shopping and my wife wore her black End the Fed T-shirt, with the big Gold colored Gold is Money written on the back.

At least 5 strangers stopped her and agreed with the message.
She received countless nods of approval, and I handed out a Ron Paul yard sign and bumper sticker, in the parking lot.

Oh yes, I was wearing my old Ron Paul for President 2008 T-shirt.

Please become a walking bill board for Ron Paul, it really gets results !


The "Secret of Oz" Video (a history of money) can be seen here:


I agree with Bill Still (who also produced the longer video, "The Money Masters").

Worth considering before we work to institute a system that is just as controllable as the current system. Remember, the gold standard was in full force at the time of the Great Depression ... didn't stop that rape from happening!

That's because the people who controlled the system were corrupt. If we go on another gold standard, or any commodity based system, the greediest people will corner that commodity market and continue to control the system.

You ought to google: Von Mises, Rockefeller. Seems Rockefeller funded Von Mises. So, a closer look and better understanding of the gold standard is in order.

According to Still, the solution is simple, could be instituted quickly, and the pain mitigated.

My fear is that Ron Paul and all the other gold bugs, are so entrenched in their ideas that they won't be able to see this solution clearly.