Ron Paul spars with NYT reporter on Colbert Report
Texas U.S. Rep. Ron Paul (R-Tex.) appeared via video feed on Comedy Central’s The Colbert Report on Tuesday to talk about his favorite topic: monetary policy and why the government should return to the gold standard.
Host Stephen Colbert brought New York Times reporter David Leonhardt to serve as a debate partner for Paul. Leonhardt attempted to counter Paul’s concerns by noting that inflation is not a concern at the moment due to the economic downturn. Colbert continually interjected with jokes, trying to force both Paul and Leonhardt into absurd statements, but the Texas congressman stuck largely to his message throughout the exchange.
Watch the video below:
|The Colbert Report||Mon – Thurs 11:30pm / 10:30c|
|Gold Faithful – Ron Paul & David Leonhardt<a>|
David Leonhardt mentioned that “you can’t eat gold”, but you can’t eat paper dollars either. It has all to do with the purchasing power. Over thousands of years, paper values have been eroded because paper can be manipulated by central banks. Gold can’t be manipulated, because on average, the gold supply only grows 2% every year. It’s still very rare. Paper printing has been expanding greatly in the past, and has been tried by other central banks, and they always destroy the value of our currency.
What makes gold and silver money is that it is rare, can be melted to specific weights and measures, and can easily be identifiable from reputable mints. Those are just some reasons why gold has been money for 5,000+ years and will continue to be money.
For those who want to learn more about what happened to the “American Dream”, and get entertained in the process, check out a short film called “The American Dream”.
Why bother arguing with David?
He’s a shill for the govt. of course. Just another Keynesian crackhead. Common sense alone dictates that paper is worthless. Even the audience can get that. If they can’t then they are doomed to be manipulated by their “betters”.
Jefferson was wrong: eternal vigilance can never be maintained, and the people are better off with honest dictators than unscrupulously ruthless liars (democracy being a competition in which the best liar wins).