Ben Bernanke hated by everyone now?

Ron Paul receives cheers from the trading floor and Ben Bernanke... well he is just a puppet on a string for the dumbest president ever, gotta stay on the president's level when answering some intelligent questions of course. This is amazing (economy problems explained below this post):

Gold +$800 // Oil +$95 // Euro Dollar 5 year chart(from 1:1 to 0.68) // 1.47 in euro terms

This was the "interview", Bernanke is lying and you can see it at the end.


Some extra information to understand the crisis:

The FED doesn't show the M3 anymore which is a measure of the money supply. They just stopped showing number to the public. No one knows how much money has been printed, oops, I mean created. When money is created inflation rises. Prices become more expensive and people loose purchasing power. The same amount of income buys you less goods or services, even though you earn the same amount as last year you are getting poorer in REAL terms.

To check inflation you have the consumer price index (CPI). Inflation is the rise in prices of day to day goods. A low inflation is good for the economy +/-2%, a high or negative in/de flation is bad for the economy. The problem is that the government takes all goods and services that rise, out of the CPI which means the CPI doesn't represent the real inflation. The CPI is manipulated by the government to le the people think that inflation is under control (about 2%)

The debt that the US government has, is owned by foreign countries. If they stop buying that debt (and that won't take too long before they cease to do that), the US government will have to devaluate the dollar. All foreign/imported goods are going to get more expensive. Think Mercedes, BMW, French Wine/cheese, ... Combine that with the price rise of all other American goods due to inflation and the collapse of the Us dollar.

Americans have a incorrect view that a lowering dollar is good for the ecnomy and for the US consumer: Products made in the US and sold in dollars will be very cheap to foreigners when the US dollar further declines/collapses. US companies will want to sell their products outside the USA because they will be able to get more money(in $) for their products. This will lift inflation in the US even more .... Us consumers will have to compete against foreigners for US made products.