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Ron Paul:
– M3 Money Supply Up by 42% Over Past Two Years (measured by private sources)
– Inflation is soaring
– Fed purposefully debasing the dollar
– History is on the side of hard money
– Fiat money always end
– Gold is the only thing that can bring stable prices
– In the last few years, the price of oil has tripled in dollars, but is flat in terms of gold
– The middle class is being wiped out, due to price inflation and deliberate depreciation of the currency

Bernanke:
– Blah, blah, blah, Federal Reserve Act and price stability
– I understand you would like to see a gold standard, but that is really something for Congress
– All this inflation stuff is the fault of the price of oil rising. Blame OPEC.

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