Sunday, April 20, 2008

Paul & Bernanke on the value of the dollar

If you're interested in getting a six minute tutorial in economics and why gas costs so much (or why the US Dollar is worth so little), check out this clip of Austrian-schooled economist Ron Paul and Fed-schooled economist Ben Bernanke (Feb 27, 2008).Whether or not Ron Paul is correct (and I think he is correct about gold being an island of stability in the middle of our current credit-driven hurricane), understanding monetary policy (as compared to the Congress' spend, spend, spend fiscal policy) is IMO essential to maintaining value in our increasingly devalued dollar.

Tim White

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