27% of Americans view Bernanke favorably (down from 34% a year ago). Ron Paul's rating: 38% tinyurl.com
Tuesday, March 20, 2012
Oh Yeah, Sudeep Reddy Speaks Truth to Bernanke
After WSJ economics reporter Sudeep Reddy suggested that George Washington University invite Ron Paul to lecture on gold, he smacks Bernanke real hard with this tweet:
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Bernanke - "the gold standard requires us to waste resources by mining gold in Africa and shipping it here" - I estimate the total cost of gold mining in 2010 at well-under $200 billion (2750 metric tons of gold @ $1800/ounce - http://goo.gl/swVR9) - probably more like $100 billion in reality.Contrast that with the multi-trillion cost of the 2008, caused mainly by the loose money policies of the Fed - estimates run from $17 trillion http://goo.gl/0xtIY to $25 trillion http://goo.gl/M6Dqd for the US government/Fed alone. I'd say $100 billion a year distributed worldwide is a small price to for a stable backing to our monetary system.
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http://blogs.wsj.com/economics/2010/11/08/sarah-palins-qe2-criticism-includes-inflation-hyperbole/
ReplyDeleteSudeep was thrashing Ron Paul type critique of QE2 by Sarah Palin 2 years......His comment section shitted on him, maybe he learned something :)
Keep it up, internet-austrians :P
As a student at GWU, I can safely tell you that the administration would never have the balls to invite Ron Paul to speak.
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