tag:blogger.com,1999:blog-7982981413278241287.post4335987238413395724..comments2023-10-28T17:54:39.467-06:00Comments on The Golden Truth: Hyperinflation Nation: "by the time people start preparing for hyperinflation, it will be too late"Dave in Denverhttp://www.blogger.com/profile/03016238915167131989noreply@blogger.comBlogger2125tag:blogger.com,1999:blog-7982981413278241287.post-80375822767698364852009-09-16T06:34:52.252-06:002009-09-16T06:34:52.252-06:00Great comment Robert! Really reinforces my statem...Great comment Robert! Really reinforces my statement that Bernanke is inept, stupid and corrupt!Dave in Denverhttps://www.blogger.com/profile/03016238915167131989noreply@blogger.comtag:blogger.com,1999:blog-7982981413278241287.post-90967289081161848662009-09-16T06:19:07.407-06:002009-09-16T06:19:07.407-06:00Dave wrote, "Bernanke is either incredibly st...Dave wrote, "Bernanke is either incredibly stupid, inept or corrupt." Note that the press is fond of describing him as "an expert on the Great Depression." However, in this Administration's first appearance before the Senate Banking Committee, when he was asked, "How did FDR deal with the economic crisis?" he responded by saying, "Well, for one thing he took us off the gold standard."<br /> This was a monumental untruth, and is indicative of the man's character. FDR chose to expand the money supply while keeping the U.S. on the gold standard- by repegging it from $20.67/oz to $35/oz, he increased it about 70% (35:20.76), but he most certainly did NOT take the U.S. off the gold standard. He did, however, make it illegal for Americns to own gold bullion,a curious form of thievery, as foreigners were still allowed to exchange their dollars for gold.<br /> I say we take Chopper Ben off the fiat standard.Roberthttps://www.blogger.com/profile/09787602311255864373noreply@blogger.com