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« Ron Paul Asks Fed Governor Thomas Hoenig: "What Is The Definition Of A Dollar?" (Congressional Video) | Main | Germany Votes Yes On EFSF - NOT The Geithner Plan »

Ron Paul Asks Bernanke: "When You Wake Up In The Morning Do You Care About The Price Of Gold? -- Why Doesn't The Fed Just Hold Diamonds Instead?"

Do you care about the price of gold?

Flashback - Ron Paul Vs. Bernanke - July 13, 2011

This clip is the introduction to the hearing and Dr. Paul's complete exchange with Bernanke. It is notable for the the jovial nature of the first 2 minutes as Barney Frank thanks Dr. Paul for his three decades of service in the House.   Also, Dr. Paul cracks a joke about the smile on Bernanke's face (and that of his staff) at the mention of Paul's retirement.  Funny stuff and then the action begins.

Paul discusses the how the CPI has changed, that the current real rate of inflation is slightly above 10% when it's calculated in the same manner as was done in the 80s under Volcker, then switches gears to discuss the wars, money-printing, the national debt, the Wall Street bailout at the expense of main street, and finally asks Bernanke whether gold is money in the eyes of the Fed.


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BEIJING — China on Thursday urged Washington to protect the interests of investors after ratings agency Moody's placed the United States' triple-A debt rating on a downgrade watch.

China is by far the top holder of US debt, with holdings at $1.153 trillion in April according to US data, and has raised concerns about its investment in the past.

"We hope the US government adopts responsible policy and measures to ensure the interests of investors," foreign ministry spokesman Hong Lei told reporters at a briefing.

Jul 14, 2011 at 1:27 PM | Registered CommenterDailyBail
Researchers from the University of Bonn and the University of Mainz have found a way to protect the brain from degeneration.

Professor Dr. Andreas Zimmer, team leader at the Institut für Molekulare Psychiatrie at the University of Bonn, along with Dr. Andras Bilkei-Gorzo, study leader on Zimmer's team, Önder Albayram, principal author on Zimmer's team, and a group of researchers, have discovered that a certain receptor can play a large role in preventing degeneration of the brain.

A receptor is a protein that is capable of binding to other substances which leads to a chain of signals. One receptor in particular, called the cannabinoid-1 (CB1) receptor, allow cannabinoids like THC bind to it, which causes a person to feel the effect of marijuana for example. Now, researchers have found that this receptor plays a role in brain degeneration.

Scientists have found that the CB1 receptor has a signal system that protects nerve cells. When the receptor is switched off, the brain ages much faster.

Jul 14, 2011 at 1:28 PM | Registered CommenterDailyBail
Ron Paul - Chairman Bernanke "Was Very Blunt & Said Gold Is NOT Money"

Jul 14, 2011 at 1:29 PM | Registered CommenterDailyBail
Jul 14, 2011 at 1:39 PM | Registered CommenterDailyBail
WASHINGTON (MarketWatch) — Now isn’t the time to launch a new round of economic stimulus, Federal Reserve Chairman Ben Bernanke said Thursday, just a day after telling lawmakers that such an option could be available.

“We are not prepared at this point to take further action,” Bernanke told the Senate Banking Committee, in the second of two days of testimony to Congress on monetary policy.

Jul 14, 2011 at 1:40 PM | Registered CommenterDailyBail
it is curious that Che Guevara is behind Bernanke. Is this some sort of attempt at subliminal something or other?
Jul 14, 2011 at 5:03 PM | Unregistered CommenterCheyenne
hadn't noticed that...nice pick-up cheyenne...
Jul 15, 2011 at 12:53 AM | Registered CommenterDailyBail
Diamonds are the most manipulated market on earth, that is why. Many stones are cheaper and more precious (rare). Diamonds have their value because people are fools...
Jul 15, 2011 at 1:50 AM | Unregistered CommenterS. Gompers
agreed...and i think that was ron paul's point...bernanke was claiming that gold isn't money...just an asset...so paul was mentioning another so-called asset...they are not the same category though...bernanke claimed it was tradition...
Jul 15, 2011 at 2:11 AM | Registered CommenterDailyBail
Really informative stuff thanks. Liked the CB1 article though there are so many issues on the brain function and it takes time to see true effects of any medicine that effects the brain. My wife unfortunately had brain surgery last year and certainly has changed our life's. I'll take a closer, hopeful look.

As far as Bernanke's statement I found it more profound that he seemed stumped and began to back peddle after Dr. Paul questioned him about diamonds. Cleaver on the Dr.'s part to because had he not mentioned it, Bernanke's statement could have been explained as misunderstood at first. Differentiating printed money as to gold regarding the definition of currency.

Truly it was a lesson for me and I think I am not alone on the topic. Though I understand that many other people do. However it's why I think it is another great point by Dr. Paul. He is a great teacher and that is what we really need in office.

I'll be sharing this one for sure. Thanks guy's!
Jul 16, 2011 at 9:05 PM | Unregistered CommenterDave
Perhaps this will be catchy? Dedicated to Mr. Bernanke.

Jul 16, 2011 at 9:29 PM | Unregistered CommenterDave
Happy to overload everyone with links dave...it's what i do...;)...
Jul 17, 2011 at 11:51 PM | Registered CommenterDailyBail

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