Front Page of Yahoo -

[trey4sports]

news.yahoo.com/paul-builds-campaign-doomsday-scenarios-161301486.html


pretty decent article. They do try to make his positions look kooky but overall they do get his positions out there fairly well.

 

[Dorfsmith]

Yep. Like I said in another thread, Paul is saying what Americans feel. This article is attacking the American people. I noticed that the comments are largely in support of Ron Paul.

 

[lyncas]

I detest the word choice

Overall reasonable article, but I get really riled up when they use the word "isolationist"

 

[GunnyFreedom]

I love how the media and the status quo establishment is being backed into a corner where their only remaining recourse is to attack the voters. NOTHING will accelerate us faster than the neoscum attacking the voters.

 

[phill4paul]

I love how the media and the status quo establishment is being backed into a corner where their only remaining recourse is to attack the voters. NOTHING will accelerate us faster than the neoscum attacking the voters.

Spot on! People feel powerless and pissed on. The worst thing anyone can do is add fuel to the fire. Bring it I say.

 

[HOLLYWOOD]

By Andy Sullivan | Reuters – USUAL SUSPECTS

 

[WD-NY]

What's the rebuttal to the point/argument made by JP Morgans chief economist?

"This monetary crisis is well known by the international bankers. They want the U.N. to come in and solve this problem," he said. "The dollar will probably eventually disintegrate and be taken over. But I don't want the U.N. issuing that currency."

Economists note that Paul's long-standing proposal to return the dollar to a gold standard would force the United States to relinquish control of its currency.

"We would still have monetary policy - it would be set by gold miners in South Africa and Uzbekistan, rather than bureaucrats in Washington," said Michael Feroli, chief U.S. economist with JPMorgan Chase.

"If you like what OPEC means for oil prices, you'd love what the gold standard would do to financial markets."

 

[braane]

What's the rebuttal to the point/argument made by JP Morgans chief economist?

I will take a crack at it. Not really my thing... but here goes:

Gold has a pretty steady value when the economy is stable. Gold's value increases in the case of an economic downturn (gold has extrinsic value). So the idea behind a commodity backed currency is that it self corrects in the event of a downturn. As the climate gets worse your dollars value may increase, and if push comes to shove you can trade it in for the commodity. The problem with a non-commodity backed currency is that it doesn't level restrictions on the governments ability to print it and has no extrinsic value. So the government can print as much as they like and in the event of a down turn the value plummets due to inflation. Since the non-commodity backed currency has no extrinsic value, you can only use it for what other people think it's worth. Look at it like this -- would you rather everyone have a million dollars(and you $1,001,000) or would you rather have a thousand dollars and everyone else have none? You would rather have the thousand dollars, of course. If everyone had a million dollars, it would be like everyone had none. That's the idea behind inflation. If the government continues to print at the rate they are, there is more money in the system... and so everyone has more... but that more is actually worth less than you had before (because a large % goes to the richest). JP Morgan/Chase wants non-commodity backed currencies, it allows the government to print at will. We saw back in 2008 with tarp what that can do for the banks (they all got bailed out). Why? Because the government could just print the money and give it to them. With a commodity to back the money, in order to print that money the government would have been required to invest their commodity behind it. Would they have been so quick to give out the money then? NO.

So in summary... you can allow the government to moderate the flow of cash or you can allow the free market to do it. If it's in the governments hands it will more than likely only lead to corruption.

I more or less just tried to make a case for the gold standard, when you asked to make a case against the manipulation of commodities. A true rebuttal might be..."Oil prices are manipulated by the government, if they get their hands out of it then the market will correct it. The same would go for gold".

 

[Lafayette]

What's the rebuttal to the point/argument made by JP Morgans chief economist?

If JP Morgans chief economist is an expert on the the economy, why didn't he see the housing collapse coming? Ron Paul and the Austrian economists did.
In fact Michael Feroli and his fellow economist on wall street, in Washington and at the FED got it so wrong they spent and gave away 15 trillion plus in tax payer money threw TARP, Freddie & Fannie bailouts, car company take overs and bailouts to every major commercial and central bank on the planet.

Its understandable why those such as Mr. Feroli fear a Paul policy of returning to a commodity based standard or at the very least legalizing competing currencies. It would end their monopoly on the creation of money and thus their ability to bail themselves out at the expense of the American tax payer.

Are guys like Michael Feroli and his friends from JP Morgan/Goldman Sachs and their lackeys that make up the FED and US Treasury Department really the ones we should be taking advise from?

 

[SpiritOf1776_J4]

This is partly because a lot of the people being called neocons are actually foreigners. The more they attack America, the more obvious this is going to get.

 

[speciallyblend]

left my comment, bottom line, It is a 2 way race now Ron Paul vs Status Quo(biggovgop). If the gop does not nominate Ron Paul 2012. The gop will elect obama/romney 2012 bendover for status quo biggovgop obama republicans no thank you. Ron Paul 2012 Win Iowa and NH and shut the lying media up! Ron Paul 2012 Common Sense and the only one left with credibility

 

[Fetou]

I thought Ron Paul didn't want to return to the gold standard, but rather legalize competing currencies? I know he's said that the authority to end the fed lies with the congress, not the president. Somebody please correct me on this if I'm wrong. Potential straw man argument by Feroli?

 

[phill4paul]

What's the rebuttal to the point/argument made by JP Morgans chief economist?

A commodity based currency cannot deteriorate past a certain point even if inflated above the commodities worth. A fiat-currency can. And will. History has proved this. Read the history of the Byzant.

 

[LibertyEagle]

Paul advocates competing currencies.

 

[South Park Fan]

What's the rebuttal to the point/argument made by JP Morgans chief economist?

The whole point of having a gold standard is that gold has a limited supply and thus a gold standard would for the most part prevent currency from losing value due to inflation. If South African and Uzbek gold miners will restrict the supply of gold in order to make more money, that only encourages deflation which encourages saving. With more money in the bank, banks have more money to loan out for projects.

 

[sailingaway]

I thought Ron Paul didn't want to return to the gold standard, but rather legalize competing currencies? I know he's said that the authority to end the fed lies with the congress, not the president. Somebody please correct me on this if I'm wrong. Potential straw man argument by Feroli?

Ron's policy change is to go to competing currencies. The gold standard is his leverage, because the Constitution requires it. What he would really EVENTUALLY WANT is a basket of commodities pegged currency. He votes to make things better, but his 'goal' is always perfection.

 

[Ekrub]

What's the rebuttal to the point/argument made by JP Morgans chief economist?

Pointing out what is in bold should be enough. But competing currencies is Ron's position.

 

[helmuth_hubener]

What he would really EVENTUALLY WANT is a basket of commodities pegged currency.

I don't know about that. I've read enough of his writings to say with some confidence that he does think gold would be a good currency, along with silver (and other metals for change). So do I. They are what the market seems to have always selected, when they were an option.

If you have a free market in money, people can select an e-CommoditiesBasket currency, sure, but there's good reason to believe that they'd select physical gold and silver coins, along with gold- and silver-backed e-currencies. There's good reason to think they'd be superior to a commodities basket or any other idea. But, to each his own! Competition in currencies will give everyone freedom, to do whatever they think is best, and that's what's important.

 

[hewinflorida]

I love the fact that the media has tried to ignore Dr. Paul. Now that they see how much backing he has, they have no choice but to put him in the news... albeit, they are trying to smear him... but it just makes them look more ignorant.

 

[WD-NY]

A commodity based currency cannot deteriorate past a certain point even if inflated above the commodities worth. A fiat-currency can. And will. History has proved this. Read the history of the Byzant.

Roger that... but what about his point about the value of the dollar being subject to metal miners in some foreign country?

(I ask because the gold standard + end the fed positions come up with my friends a lot and I want to rock solid rebuttal to points like the one made by the JP Morgan economist)