Joint Economic Committee Hearing on 4/14/10 "The Economic Outlook" with witness Ben Bernanke, Chairman, Board of Governors of the Federal Reserve System.
Yeah, commodity money is terrible. See: human history and the truly ridiculous number of crises it caused because of monetary policy inflexiblity with respect to shocks Ron Paul doesn't get monetary economics and libertarians really need to go read economics books published in the last 100 years...
He confuses how MMT works. MMT explains how and where the government gets an endless amount of cash to do whatever it wants to do whenever it wants to do it. It's what makes our country #1 in the world because the dollar is #1. Since we control the dollar, the government is given aa much as it wants. This does NOT affect the normal economy of the working man and Paul does not understand that. For example, individual banks and corporations get bail outs - not everyday people.
