Advertise | Bookmark | Contact Us | E-Mail List |  | Update Page | UraniumSeek.com 

Commentary : Gold Review : Markets : News Wire : Quotes : Silver : Stocks - Main Page 

 GoldSeek.com >> News >> Story  Disclaimer 
 
Latest Headlines

GoldSeek Radio Nugget: Harry S. Dent Jr. and Chris Waltzek
By: radio.GoldSeek.com

Calm Before The Storm
By: Peter Schiff

Anecdotes and Reminiscences
By: Hugo Salinas Price

How High Can The Metals Continue To Push?
By: Avi Gilburt

Gold Seeker Closing Report: Gold and Silver Gain Roughly 1%
By: Chris Mullen, Gold Seeker Report

Gold/Silver vs. Bitcoin Comparisons: A No-Brainer... or Brainless?
By: David Smith

Ira Epstein's Metals Video 10 19 2017
By: Ira Epstein

Warning: The Stock Market Rally is on VERY Thin Ice
By: Graham Summers

GoldSeek Radio Nugget: Peter Grandich and Chris Waltzek
By: radio.GoldSeek.com

Getting Your Feet Wet In Cryptos
By: Avi Gilburt with Ryan Wilday

 
Search

GoldSeek Web

 
Idaho Democrat Leader Brain Malfunction: “We Can’t Say Gold Is Going to Protect Us from Inflation When [It has Risen from] $27 an Ounce to $1,218 an Ounce”


 -- Published: Thursday, 16 March 2017 | Print  | Disqus 

By: Jp Cortez, Sound Money Defense League

 

The Dunning-Kruger effect is the idea that low-ability people tend to suffer from illusory superiority. The phenomenon, first studied by David Dunning and Justin Kruger, says that people who know the least tend to overvalue their own competence, and tend to believe that they are experiencing some sort of upper-echelon level of thinking.

 

While the original study was conducted in 1999, we witnessed what appeared to be the Dunning-Kruger effect in action this past Tuesday on the floor of the Idaho House of Representatives.

 

And while it’s only March, but we also have identified the front-runner for our “Aurophobe of the Year” award.  (Aurophobia is the irrational fear of gold.)

 

During the March 14th floor debate on Idaho’s House Bill 206, a measure that promotes sound money by removing Idaho income taxation from precious metals, Democrat Representative Mat Erpelding -- the House Minority Leader -- couldn’t help himself and had to share his two cents, even after asserting that he had no opinion on the bill (but then voted against it).

 

“Thank you, Mr. Speaker. I don’t have an opinion on this bill. However, I do have an opinion on facts. Facts are somewhat important,” Representative Erpelding said with an air of superiority.  “If we say that gold is going to protect us from inflation, I want to point out that in 1868, gold was $27 an ounce, and today gold is $1,218 an ounce. So, we can’t say that gold is going to protect us from inflation when you have that type of a price range over the last hundred years. So, I just want to point out that facts are important.”

 

Huh? The purchasing power of the dollar versus gold has fallen nearly 98% and gold therefore offers no protection against inflation?

 

Despite Minority Leader Erpelding’s objection, House Bill 206 overwhelmingly passed in the House 56-13. Next, sound money supporters hope to receive a hearing and a vote in the Idaho Senate.

 

Watch the video here.

 


| Digg This Article
 -- Published: Thursday, 16 March 2017 | E-Mail  | Print  | Source: GoldSeek.com

comments powered by Disqus



 



Increase Text SizeDecrease Text SizeE-mail Link of Current PagePrinter Friendly PageReturn to GoldSeek.com

 news.goldseek.com >> Story

E-mail Page  | Print  | Disclaimer 


© 1995 - 2017



GoldSeek.com Supports Kiva.org

© GoldSeek.com, Gold Seek LLC

The content on this site is protected by U.S. and international copyright laws and is the property of GoldSeek.com and/or the providers of the content under license. By "content" we mean any information, mode of expression, or other materials and services found on GoldSeek.com. This includes editorials, news, our writings, graphics, and any and all other features found on the site. Please contact us for any further information.

Live GoldSeek Visitor Map | Disclaimer

The views contained here may not represent the views of GoldSeek.com, its affiliates or advertisers. GoldSeek.com makes no representation, warranty or guarantee as to the accuracy or completeness of the information (including news, editorials, prices, statistics, analyses and the like) provided through its service. Any copying, reproduction and/or redistribution of any of the documents, data, content or materials contained on or within this website, without the express written consent of GoldSeek.com, is strictly prohibited. In no event shall GoldSeek.com or its affiliates be liable to any person for any decision made or action taken in reliance upon the information provided herein.