[Video] Ron Paul hosts CNBC's Squawk Box - Monday April 23, 2012

[coffeewithchess]

"Do you think Romney is a flawed candidate?"

Simple answer..."YES"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


FOR CRYING OUT LOUD! Destroy that man (Romney)!

RP's campaign is either being paid by Romney's, or blackmailed by Romney's...there is no other excuse.

 

[Bastiat's The Law]

Going back the gold standard in my opinion is a hard stance to take and likely gets laughed at in a lot of circles. It's impractical now. You can't take a flawed currency like we have and completley turn it on its head. You only get to do that if the currency imploads on itself (which its doing).

I'd love to see a asset based currency but that ship has sailed on the dollar. If we have to start over on a new currency (which we probably will have to do in the near future) then we can talk about asset based currency. Until then its only a pie in the sky type idea.

Not so fast my young padawan.

 

[socal]

Thought I'd give the option to watch on CNBC

http://video.cnbc.com/gallery/?video=3000085775&play=1
http://video.cnbc.com/gallery/?video=3000085167&play=1
http://video.cnbc.com/gallery/?video=3000085777&play=1
http://video.cnbc.com/gallery/?video=3000085487&play=1
http://video.cnbc.com/gallery/?vide...nUGFnZSI6IjEiLCJzeW0iOiIiLCJzZWFyY2giOiIifQ==

Thanks for the links, Ron did great.

In the conversation with Steven Roach, Mr Roach disputed Ron's 97% loss in value figure of the dollar. RP said if you compare today's gold price (1,637.70) vs $20/ounce in 1913, it would be close. The number is a 98.78% ((1,638 - 20)/1,638) loss in purchasing power, so Ron is right. Then Mr Roach objected to using gold as a metric since it's only used in teeth. I guess he's never heard of gold jewelery ?

 

[Danan]

I'd love a competing currency, but if you came out with an asset backed currency. Even if you called it a competing currency the reign of the dollar would be over. Arguing for a competing currency is a waste of time in my opinion. People don’t want to change (well unless they bought Obama). Our population is comfortable with dollars. They’re comfortable with shopping, banking, houses, all the things that make up a net worth of a voter. To change a monetary system is anything but comfortable.

Trust me, I know the pitfalls of the bad system we have now. In an idealistic world an asset backed currency would be great. So would several other things that Paul wants. But we also have to grip ourselves in reality.

I guess since I don’t see even a remote chance of getting a competing currency, I think I’d find better battles to pick like going after an audited and transparent FED.

He doesn't necessarily want to create a second compeding asset-backed government currency since he knows that it's highly unlikely that congress would approve of this. It would be enough to abolish legal tender laws (and a few others).

Then the states and private institutions could print their own money if they wanted to. This is already happening to some extend but there are many constraints and legal tender laws that make these currencies inferior to Federal Reserve Notes. Once these laws are gone people could trade and save in more stable and asset-backed currencies.

And even if they couldn't replace the FRNs they could at least put enough pressure on the FED to be more responsible since the people now would have other pretty decent options.

Essentially this could break the government monopoly over the money supply. If the FED wanted to stay a quasi-monopoly they could only do this by being superior to their (possible) competitors. Just like it should be in a free market.

 

[Danan]

Thanks for the links, Ron did great.

In the conversation with Steven Roach, Mr Roach disputed Ron's 97% loss in value figure of the dollar. RP said if you compare today's gold price (1,637.70) vs $20/ounce in 1913, it would be close. The number is a 98.78% ((1,638 - 20)/1,638) loss in purchasing power, so Ron is right. Then Mr Roach objected to using gold as a metric since it's only used in teeth. I guess he's never heard of gold jewelery ?

Well to some extend he has a point. There are seperate factors beside the value of the currency that have an impact on the gold price. Who knows if supply and demand are the same (or at least meet at the same point) nowadays as back in 1913?

But then again, there is really no better way to measure it since there is also no possibillity to know how supply and demand changed for every other good (though I'd say it's highly likely that supply grew much stronger than demand). But a defender of the fiat-dollar could always look at the (manipulated) CPI and say that the dollar didn't cause that much trouble. Or he could even argue that the currency in fact deflated but the reason we don't see this is because of rising demand or decreasing supply (relative to each other) of consumer goods.

The only way to be sure about how much value the dollar lost in this time period would be to look at a parallel universe exactly like ours expect that they didn't go off the gold standard. Since this will not likely be possible we have to rely on more approximative measurements. =)

 

[Working Poor]

bump

 

[presence]

Ron Paul Flix: Ron Paul as Guest Host on CNBC – Apr 23 2012

http://ronpaulflix.com/2012/04/ron-paul-as-guest-host-on-cnbc-apr-23-2012/

The media finally gave Ron a chance to speak.

Watch it!

presence

 

[socal]

Well to some extend he has a point. There are seperate factors beside the value of the currency that have an impact on the gold price. Who knows if supply and demand are the same (or at least meet at the same point) nowadays as back in 1913?

But then again, there is really no better way to measure it since there is also no possibillity to know how supply and demand changed for every other good (though I'd say it's highly likely that supply grew much stronger than demand). But a defender of the fiat-dollar could always look at the (manipulated) CPI and say that the dollar didn't cause that much trouble. Or he could even argue that the currency in fact deflated but the reason we don't see this is because of rising demand or decreasing supply (relative to each other) of consumer goods.

The only way to be sure about how much value the dollar lost in this time period would be to look at a parallel universe exactly like ours expect that they didn't go off the gold standard. Since this will not likely be possible we have to rely on more approximative measurements. =)

Postage has gone up from 0.02 to 0.45 for a 1 oz letter, or a 95.6% loss in purchasing power (PP). Wheat has "only" gone up from $100/bushel to $600/bushel (approx), or an 83% loss in value. The CPI calculator at the BLS website shows a 95.7% loss in PP.

So actually Ron's figure could be a little on the high side, using those 3 extra examples.

https://en.wikipedia.org/wiki/History_of_United_States_postage_rates
http://www.tradingeconomics.com/commodity/wheat
http://www.bls.gov/data/inflation_calculator.htm

 

[The Northbreather]

Yeah I have stocks, mining stocks! I thought he was going to fall out of his chair when she joked about Ron buying treasury. hahahahahahaha

 

[HOLLYWOOD]

Not so fast my young padawan.

Ah... Jim Grant. He stated a couple of weeks ago that the Chinese banking system is currently in worse shape than the US banks in 2008. Glad he brought up the 1920-21 depression (Woody Wilson and his League of Nations Warmongers/Debt transfers)

Jim, "The system(US) in it's complexity is doomed."

I wonder if that POS and former chairman of the house Financial Services committee Barney Frank, has been hit in the head with the FIAT tack hammer. Frank personally attacked Ron Paul in the opening statements @ Geithner Dog n Pony special. Frank as crass as he can be, his opening 5 minute salvo contained this gem, "There are some here(obviously Ron Paul) that want to change the monetary system and that is not going to happen. Live with the current financial system..."

 

[EBounding]

Then Mr Roach objected to using gold as a metric since it's only used in teeth. I guess he's never heard of gold jewelery ?

What I wish Ron said is "Well, maybe people would have more gold if they were allowed to use it as money."

 

[J_White]

I am sick of all the same old questions, that Dr.Paul has answered a thousand times before - why are you in the race ? implying he just wants a speaking spot or some platform change. and why don't you run third party !! He has answered those questions before, now lets ask some real questions !!
when Dr.Paul was mentioning about caucus delegate wins and Iowa committee wins, its like they were not even listening - they have assumed whole heartedly that he cannot win, so why pay attention to what really is happening - he would be considered 'unelectable' even if he managed to get ALL the delegates !!
But they won't because either they themselves dont understand the issues in depth or just have been told not to.
there is so much propaganda about Fed created money and most people treat the Fed as the savior !! some simple common sense facts just somehow go over people's head !

again it makes me think, whether this country really deserves this man ? or do they deserve to be on the streets protesting like the Greeks, or being put in indefinite detention like people living in third world countries under dictators !
what an irony, we are sending our troops to fight goalless wars in the name of spreading democracy and freedom elsewhere, while people fail to see whats happening here !
everytime i watch Dr.Paul speak with humility and keep telling the truth, my respect for him just keeps growing.

I would love to see him talk more about how he warned/predicted the housing and financial bubble in 2002-03.
He should have asked that Roach guy whether he saw that bubble and crisis coming !

 

[unknown]

A lot of things Ron speaks about are counter-intuitives, for example the government "doing nothing" when there's an economic downturn. This kind of stuff flies in the face of years of government school teachings these people have been brain-washed with since birth.

But the bigger mind f*ck IMO is that these clowns are supposed to be pro-free market.

 

[Karsten]

Ron SHOULD NOT concede that there would have been more short term PAIN if it were not for the bailouts (in exchange for a quick recovery). We don't know that there would have been more short term pain. The government/media propaganda and the push for massive bailouts SCARED people which caused the economy to tank further. Without this scare mongering, I don't think it would have been that bad even short term.

 

[Carson]

I caught a little of the show this morning.

I was right with Ron Paul when they ask the question out of the blue about the Walmart thing. I too had no idea what they were talking about.

By the time they explained that The United States Government was going to spend money to hold a trial for something that happened in Mexico I was blowing a gasket.

I had to cut watching short and have been wondering if Ron Paul had any more to say on the topic.

I can't wait to watch the video of the show. It is still going to have to be later.


P. S. Made some time to watch. Thanks Bastiat's The Law for your condensed version.

Ron Paul is such an educated gentleman. He seems to embrace everyone as an equal and really has a gift for listening. Quite a role model.



P.S. And a nice close at the end with Rick Santelli's smile of contentment. Great show!

 

[EBounding]

Ron SHOULD NOT concede that there would have been more short term PAIN if it were not for the bailouts (in exchange for a quick recovery). We don't know that there would have been more short term pain. The government/media propaganda and the push for massive bailouts SCARED people which caused the economy to tank further. Without this scare mongering, I don't think it would have been that bad even short term.

Yeah. I think there would have been panic for like a week. And then people would realize, "Oh wait, all the factories, tools, and good ideas are still there ready to generate wealth." But instead all we got is more uncertainty and more fear, even after the bailouts.

 

[Maximus]

This was absolute destruction by Dr. Paul. He was cool, calm, collected, and lobbing firebombs of freedom. I loved when he mentioned that when you price the stock market in gold and its value is down, the hosts kinda freaked and went to commercial lol.

 

[Vanilluxe]

Vodka is a dangerous drug, I don't think the commentators get that joke.

 

[alucard13mmfmj]

"Do you think Romney is a flawed candidate?"

Simple answer..."YES"!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!


FOR CRYING OUT LOUD! Destroy that man (Romney)!

RP's campaign is either being paid by Romney's, or blackmailed by Romney's...there is no other excuse.

yeah. it seemed like they were trying to get ron to coax ron into attacking romney. i wonder why ron didnt take the bait and do it =S. national TV to rail romney.

 

[coffeewithchess]

yeah. it seemed like they were trying to get ron to coax ron into attacking romney. i wonder why ron didnt take the bait and do it =S. national TV to rail romney.

Yea, he went off on the entire system being bad...again, if you're running against the system (he is) that's fine, but the "system" to the average American Republican voter is Mitt Romney right now...and the "system" to the average Democrat is President Obama.
Attack the targets in the race NOW, ja;klgjaklgakl;ghjhjakl;jgjkl;ajgkl;ajgklajgkl;jakl;gja.
Get elected President...then attack the SYSTEM.

I don't understand this...it's either blackmail, or someone is being paid. It makes no sense at all. NONE.
RP's campaign helped destroy Perry with an ad.
RP's campaign destroyed Newt with ads.
RP's campaign hit at Santorum with ads.
RP's campaign has not attacked only Romney....unless calling him a "flip flopper" and "moderate" count...along with mentioning the two other candidates in the race at the time the ads were released.

Hopefully when RP wins Delaware tomorrow, Newt will drop out and we will FINALLY see the truth ads roll out on Romney.