Bernanke Concurs With Ron Paul That Fed Monetizes Debt
If you think the problems of debt in Europe are of importance, you had better pay attention to what Bernanke admits to in this video.
The Federal Reserve Bank admits to creating money out of thin air in order to monetize the debt of the USA. The same Federal Reserve Bank who is charged by Congress with managment of our currency has essentially devalued every single dollar in circulation, and more importantly in savings. The Fed is stealing your wealth by diluting dollars. Inflation signals have already started cropping up.
Last month inflation across the board was around 2%. Wholesale food prices are up last quarter by 49%, the largest single quarter rise in prices in 30+ years. This is nothing compared to what will happen when people start catching on to what the Fed has been doing.
With sound money, there is little to no inflation of prices, ever. When every single dollar in circulation was backed by gold, as is required by the Coinage Act of 1792, prices remained very stable in America. Since the creation of the Federal Reserve Banking System, the US dollar has lost 97% of it's value against the value of real goods.
I would suggest everyone read "What has the government done to our money: The case for a 100% gold dollar" by Murray Rothbard
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