When A Lawmaker was Starting to Doubt About Their Money

This video is in Youtube. It seem that this hearing season was take place on November 2008. This cut is about a question from member of US House of Representative, Ron Paul (pictured), to Chairman of US Federal Reserve, Ben Bernanke. This following points are summaries of Ron Paul question:

• It has been much fund and energy spent to save fiat currency, and it seem that these efforts and thing being saved do not work.

• There is a possibility that they fail to notice that their financial system is failing, US$ is dying. The root of the problem was in 1971 after dismissal of Bretton Wood System. Perhaps the world has noticed this thing and begin talk about new international reserve currency, although they has not determined the form, replacing US$ as international currency.

• Ron Paul ask Ben Bernanke, whether in meeting of central bankers, in which USA included in them, has considered gold as new international currency.

Perhaps (in my opinion) central banks across the world had been anticipating the failure of US$, if not, why are they still keeping gold in their reserves, including The Fed. Yes, all of central banks do keep gold. So if there is failures of US$, they have something to depend upon.

Of course Bernanke, deny Ron Paul opinion. Logically, even if he agreed with Paul, he would not express it publicly. In my eyes, in this session, his body language betray his words. There are many interest to defend US$. Logically, it is also foolish for us if in long term, we save a fixed value of money in any fiat currencies, even if they has “strong” values (strong is not the word, I guess). For me it is better save than sorry.