OMG!! Gingrich is Ron Pauling the Gold Standard!!

[Mini-Me]

This would be the worst thing ever: He would never, EVER suggest competing currencies or truly using gold as money. Rather, he would simply peg the value of a dollar to a weight of gold, while continuing to print as many as he liked. In other words, I guarantee he would merely place a price control on the value of gold, and when it failed, people would be led to believe that the gold standard failed.

 

[CaptainAmerica]

hes one dirty SOB

 

[alucard13mmfmj]

i wonder if obama will do something similar... seems hes trying to emulate ron paul and preparing for debates in the event ron gets the nomination.

 

[nasaal]

I think you underestimate the trust factor. In a world where trust is being steadily annihilated, a man like Ron Paul stands out like a diamond in a coal pit.

Trust factor? Gingrich is doing well in SC and FL as a guy who left his wife on her death bed. He has held every version of every view I can think of, and he backed Freddie before, during, and after the housing crash. Trust factor means nothing when considering politicians in this environment.

 

[GHoeberX]

Gingrich is the most dishonest candidate in the race. I have higher esteem of ANY candidate over Gingrich from the Green Party to Mitt Romney and from Rick Santorum to Barack Obama. I am just unable to believe any word he says and now it looks like he's going to finish ahead of several other candidates in the South Carolina GOP-race... *YUCK*

 

[hazek]

Pandering and lip service, that's all that is.

 

[tsetsefly]

The same thing happened in 08, all of a sudden Hackebby and other where talking about the fed etc. ... Ridiculous...

 

[Ilhaguru]

Gold standard alone still won't solve fractional reserve banking, manipulation of interest rates, and the moral hazards of the Federal Reserve and FDIC.

Nice to see him saying this, though. We can use this on those who still think going back to gold is a crazy idea.

 

[Okie RP fan]

In case everyone hasn't noticed, there is a huge media surge for Gingrich right now.

I have seen nothing but positive stories, and people seem to have enjoyed his debate performance.

So, we have a couple days to counter this. It is time we make "Serial Hypocrisy" viral again. Also, someone needs to make a video of Gingrich copying Paul on the Fed and other monetary policies.

 

[The Goat]

Jim DeMint asked for Republicans to move toward Ron Pauls ideas on monetary policy.

this is Newt pandering to the people of SC that don't realize he is paying lip service. Its all about lying to the SC voters.

 

[Liberty4life]

These morons are walking right into a trap, by emulating Ron Paul.
Now we just consider every time their lips move they are lying, then its good publicity for us.
They can hear the people outside chanting Ron Paul, Ron Paul.

 

[Liberty4life]

Here is how dumb they are, but its not really dumb and in not knowing better its stupid as in knowing better but not doing the right thing.
They are like surrounded by the people with Ron Paul signs and they are in the middle trying not to look at them, they say "who can we get to beat Obama, hmm"
In reality they want Obama, they want the weakest candidate to run against him, it worked in 08, rinse, repeat.

 

[Barrex]

It is not just gold standard.....
Other candidates are taking Ron Pauls message and shaping it so it appeals to more people. Cut spending, monetary policy, audit the fed, mentioning liberty and freedom in their speeches etc. All things that Ron Paul spoke about they are now using to help them. Ron should say I am glad that all my oponents are changing their opinions and agreeing with me....

 

[WD-NY]

He doesn't understand it, and he is a whore. Not very confidence inspiring, I would think.

Agreed... but at this point, after he floats "hard/sound money" during tomorrow night's debate before Ron gets asked a question, he'll probably convince a few undecideds simply because the way he frames his argument/case for why 'gold standard = good' is better than how Ron frames it.

In his comments Tuesday, Gingrich also spoke sharply against the Fed, saying it should focus on keeping prices in check, dropping the dual mandate of job growth and fighting inflation.

"We need to say to the Federal Reserve: Your only job is to maintain the stability of the dollar because we want a dollar to be worth thirty years from now what it is worth now," he said. "Hard money is a discipline. It means you can't inflate away your difficulties."​

The fact that Gingrich has ZERO intention of reinstating sound money and that Ron has been championing this issue for 20+ years unfortunately matters not.

Those 2 sentences = clearer than pretty much anything I've heard out of Ron during the debates. I don't have the transcripts, but doesn't Ron usually just says "we need sound money" without ever explaining how having sound money forces the federal govn't to maintain budget discipline.

Case in point: this clip of Ron vs NYTimes economist (Colbert Report, Jan 2011): http://www.colbertnation.com/the-co...11/gold-faithful---ron-paul---david-leonhardt

Does anyone here think Ron's answer to Colbert's 1st question was good or even decent (re: "Explain to the good people here what I already stand, why do we need Gold currency?")?? If you were a professor, what grade would you give it??

If Ron doesn't have the discipline/fortitude to improve/clarify the way he presents several of his core ideas, then I'm sorry, but we're going to get spanked on Thursday night and come in 3rd/4th on Saturday. =/

 

[osan]

Gold standard alone still won't solve fractional reserve banking,

If a REAL gold standard were adopted, yes it would. There could be no phony baloney fractional reserve rule because it would mean that a bank did not actually have SOMEBODY'S money on hand or in the form of liquid assets. Banks take your cash, savings in particular, and invest them through loans and other instruments. If Bank A has $100 in total customer assets, it might have $50 invested in various instruments. If customers begin withdrawing their assets and the bank runs short on actual cash, it has to sell or otherwise convert its other holdings into cash to satisfy the demands.

In this respect banking law can be very simple - if a customer demands his holdings you must produce them immediately. If you fail to, you are subject to criminal and civil action. There is no excuse for ever failing to produce a customer's holdings immediately on demand, at least at his "home" branch.

Some will say that this will cause problems for banks who loan those assets to businesses and through the purchase of other investments. These complaints are easily addressed by offering deals with customers such as CDs and so forth where you agree not to withdraw your holdings for some period in exchange for an agreeable interest and a strong guarantee that those assets will in fact be available when the bank says it will. Case closed. If seriously huge sums are in question, customers can always purchase extra insurance to bring risk down to virtually zero. This costs money and reduces the effective earnings of the assets. That is the way risk/reward works and should come as no surprise to anyone with an IQ above single digits.

manipulation of interest rates

Agreed. So long as government or any central banking institution holds market power to raise or lower rates effectively at will, problems will exist. The USA and indeed the world should return to the small community banks such that there would be hundreds of thousands or even a million or more across the face of the globe to better prevent the rise of collusive, oligopolistic blocs operating to distort the markets away from their natural balance points.

 

[The_Ruffneck]

the globalists WANT a gold standard now they have loaded countries with insane debt levels
gold standard will turn the paper debt into gold backed debt
i only support a gold standard in the case of the debt being wiped out first , otherwise it's a ball and chain around the economies neck.