Democrat Leader On Sound Money: “In 1868 Gold Was $27 An Ounce… Today It Is $1,218… So You Can’t Say Gold Will Protect Us From Inflation”

by | Mar 20, 2017 | Headline News | 77 comments

Do you LOVE America?


    Proving once again that our elected representatives appear to have absolutely no clue, we turn to Democrat Idaho House Minority Leader Mat Erpelding.

    The Sound Money Defense League reports:

    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, 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).

    The quote itself is shockingly obtuse and ignorant:

    I do have an opinion of facts and facts are somewhat important… and 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 you can’t say 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.

    Yes, that actually happened and here’s the video to prove it:

    Visit the Sound Money Defense League for news and citizen action focused on restoring gold and silver to its historic role as America’s constitutional money.


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      1. Is this guy wacked or just another commie useful idiot? I’m bet’n that he can’t spell stupid

        • The only people dumber than these elected idiots are the people that elect them.

          • Black Moe,
            what is just as bad is his libturd followers won’t think anything is wrong with his statement!! that is as bad as what he says!! LOL

            • Apache54, can’t fix stupid. Can’t fix libturds.

              • Typical leftie. Dumber than a box of rocks.

            • Agreed. He’s pointing out that “facts are important” by making them up

          • That is a big percentage of the population.

        • After reading this story at another site last week, I e-mailed the guy. Afterwards, I felt bad because he was very gracious and responded with words and thoughts which made me think I had just bullied someone who really is just a little “mentally challenged”.
          I wrote:

          Mr. Erpelding,

          “I saw the video of what you said about gold in the Idaho House. Frankly, I’m stunned by that level of stupidity even from a Democrat. Does your family tree resemble a wreath?
          I hope someone with an IQ above room temperature has explained things to you since you made those remarks”

          He soon responded:

          “A wreath? Good one.
          My comments were off for sure. What I was trying to say is that now gold is a hedge just like every other investment. I choose my debate poorly but still have a slightly below average IQ. Thank you for pointing it out.I appreciate your civil and well-intended words, even if it came across as a bit impulsive.”

          • Thanks for posting this feedback.

            Now I feel kind of bad for labeling this “stupidity” because maybe he misspoke or didn’t quite understand the point of gold?

            Perhaps “ignorance” would have been a better choice of words on my part.

            • Nah. Stupidity fits nicely

              • dumbfuck? ….that might be a suitable word, in this guy’s case. and from 1868 to 2017?…. is CONSIDERABLY more than “the last hundred years”, no?

          • The way I make the argument is this:

            Let’s say in 1917, 100 years ago, your grandfather had the choice of putting a 20 dollar gold coin in a cookie jar, or a twenty dollar paper bill in that cookie jar….note at that time, the two were completely interchangable….you could walk into any bank and swap one for the other.

            You inherited the jar with whatever Grandpa put IN the jar.

            What do you hope Grandpa did, given it takes about 60-65 of the 20 dollar paper bills to buy that same 20 dollar gold coin…or the coin has 60 times the buying power of the paper ?

            I use this example all the time to illustrate that paper dollars are NOT money, they are currency….a means of exchange. One of the important properties of money that paper doesn’t have is a “store of value”… can’t hold it long term without losing your shirt.

          • No one should feel sorry for this fucking MORON, the response was probably made by an assistant because he can’t turn on a computer.

            Stupid is as stupid says, and his comments show he has been taking his marching orders from Pelosi, the ULTIMATE example of the Dunning-Kruger effect.

            If this man had any self respect he would resign his position and commit Hari Kari !!! 🙂








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              • “G”
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        • Yes, Paul, Silas (and hey! Where’s Barnabas?), so true. BUT, at least he is light years ago of Pelosi!

        • His mother gave him a credit card and he has never even had any money, paper or metal.

        • True….we haven’t been on a gold standard for years. Nixon dealt the last death blow.

        • HaHaHa ??? As Buggs Bunny used to say ” What a Maroon ”
          You have to love people that remove all doubt that they have no clue !

      2. No kidding and these dipshits have our life in there hands! Pelosi thinks Bush is in office Waters thinks Russia invaded Korea and the other dipshit that thinks islands flip over.
        If you can buy gold, It’s time for a violent change if need be, done with these money sucking Assholes.

      3. Wow, just wow. I won’t even explain it since most people here understand why this is so stupid.
        I guess if I buy an oil well and it goes up 600% during the same period inflation went up 600% then my oil well would not be a good hedge against inflation either……..these are our LEADERS..scary times/

        • Democrat Leader Shows His Stupidity: “In 1868 Gold Was $27 An Ounce… Today It Is $1,218… So You Can’t Say Gold Will Protect Us From Inflation”

          He should have followed up with an even more stupid comment, “Unlike the US Dollar which is still $1 Dollar from 1868 to 2017 Today. See Folks a dollar is still a dollar. So Hoard Dollars to protect you from inflation. bwhahahahahahahaha Stoopid is!!

        • Javelin

          This is SHTF let me ask you what are you going
          To give me for some meds, how about some food.
          Or some ammo sorry I don’t take worthless paper
          That might be more of what there saying I could be wrong. Something to think about?

      4. It should be illegal to be this stupid and be elected to public office and a minority “Leader” at that. Granted its not as bad as Congressman Hank Johnson D Georgia, in the epic “Island Capsizing” testimony in Congress but shockingly ignorant none the less. What do they have in common?

        h ttps://

        • Kevin2, I’ve seen that video several times. I have to wonder how that admiral kept a straight face when that affirmative action retard asked that question. Sometimes libturds are actually good for a laugh.

          • General and its counterpart rank doesn’t have George Patton’s in their ranks they have politicians. He is well versed dealing with the likes of this but I do agree this is so over the top it was an extreme exercise in self discipline.

      5. Democrat Leader Shows His Stupidity: “In 1868 Gold Was $27 An Ounce… Today It Is $1,218… So You Can’t Say Gold Will Protect Us From Inflation”

        There needs to be mandatory/random Drug Testing of our “so-called” Representative Government Officials.

        Failing to pass a drug test: Fired from position a.s.a.p, and any further Political aspirations will be revoked.

        Replace “delusional vermin” with a sane/drug free, moral, and responsible person.

        • FTW

          Its not drugs that have warped their mind but rather the delusional perspective that comes with the far left. They have children’s ideas like, “You make your own reality”, which is at the core of “seeing what they believe”, as opposed to the adult, tried and proven, “Believing what you see”. I have no doubt that this gentleman wants to provide everything to anyone. Fiscal responsibility stand in the way of that illusion.

          Drugs would actually help these people.

          • Kevin2, as I said earlier, there is no known cure for stupidity.

      6. Probably find that instead of rediculing the crap out of this idiot, the majority of the house was probably nodding in agreement at his “sound facts”

      7. He gets the moron village idiot award of the decade. Let me spell it out for you dumbass. You pay $27 and sell it at $1,200 that pays for the exact same custom made suit today as it would have in 1868. Therefore the same gold coin kept up and protected against inflation. You stupid roach.

        • idiot congressman, somewhere a village is missing its idiot and probably prefers it that way, LOL!

      8. “… Facts are important”.

        I can’t agree more. How could any thoughtful person disagree with this part of the statement. What he has so beautifully demonstrated is, that; what one “infers” from the facts, or how one “interprets” the facts, is equally as important as the facts themselves.

        I do not think this man is stupid. I think he is a lying, deceiving, typical political prostitute. I mean no offense to others who deliver a service and deserve more respect than one of these political mouthpieces.

      9. He has to married to Maxine “Cuba will sink” waters!

      10. Just when I thought people were waking up… this dummy reminds me… that our war against stupid has a long way to go. When his fiat is worthless… then he will wake up… or try to blame it on Trump.

        Stupid is… as Stupid does.

      11. B from CA

        “I do not think this man is stupid. I think he is a lying, deceiving, typical political prostitute.”

        Its highly probable that he is the latter but generally those traits are use behind closed doors. In this specific instance its sad to say that this guy has zero understanding of how inflation is created. The thought of how it occurs conflicts with the agenda of unlimited spending via unlimited funds. I’ll bet no one could reason with him either because anything interrupting the fairy tale is bad and therefore blocked from intellectual acceptance.

      12. I understand if you purchased several thousands ounces of gold in 1868, and took them to Guam, today, in 2017, the island would sink.

        Or was that another Democrat who said that?

        • Might have been Al Gore.

          • No he invented the internet. He said so.

          • Or it could have been Maxine Waters. she says all kinds of stupid things.

        • Not sink, just flip over. Not to worry. Your gold will still be there. It will just be upside down.

      13. No. One could argue that he knows EXACTLY what he is doing, or if not, has not fact checked it himself, because he is not interested in telling the American people the truth, only passing an agenda of deception and theft through fiat and insidious inflation. He knows that most people are stupid enough to accept his argument.

        Just like John Gruber reassured Obama that his Obamacare bill could pass because the American people are stupid enough to believe it.

      14. David Rockefeller dead at 101.

        • Thank you Satan.

      15. Wow! He MAY be more stupid than Nancy Pelosi!! What a moron.
        Those dems are geniuses aren’t they?

        • They are cut of the same cloth,

        • “Those dems are geniuses aren’t they?”


      16. Mac,

        The title is somewhat misleading. I believe a more accurate and concise title should read:


      17. Well, he was referring to how gold affects the general population who does not carry enough gold to hedge having gold is good for you, but that has zero effect on inflation as a whole.
        BUT, what he failed to mention was that his policies (and libs in general) are what are causing financial meltdown in the world in the first place. Of course gold is bad…how can they control people if they prepare them selves?

        • “his policies (and libs in general) are what are causing financial meltdown in the world in the first place.”

          The neo conservatives endless wars costing 6 trillion or so, all paid for with money from no where have a heavy hand in this. Their policy id Free Trade deindustrialization (Clinton just allied himself with them) was a catalyst for increased public assistance.

          This is not a Democrat verses Republican battle as their in cahoots. Its a Nationalist verses Globalist battle.

          You are 100% correct; the goal is control.

      18. Mat says, “I think therefore I am”.

      19. So four ounces of gold costs about five grand. A half pound for ten grand etc. Is that too much risk for the average person to trust that investment will never lose value?

        • The question is first you need to have the 5 or 10 grand. Once you have it its de-facto invested somewhere even if its cash. One has to look at history and say with increasingly greater amounts of cash being produced is it likely to retain its purchasing power? Historically that answer is no. Will a home retain its value? Ten grand doesn’t buy a home.

          If you have no money the point is moot. If you do your already in, just depends where.

        • diversity is the key in my belief. I look at it this way, if the stores are closed and I have a chicken that lays an egg a day, I would not trade it for an ounce of gold as I can’t eat the metal. someone may have a hundred chickens but needs gas or ammo not gold or silver. I would invest in food, water, fuel, defense and self preservation items along with some metals. cover as many bases as possible, but you must be able to defend your resources.

      20. Obviously, such stupid declarations are not meant for consumption by the wiser folks as whom post here.

        I think it’s tragic that 1) they think were that stupid, and 2) many of the general public is that stupid.

        I learned about savings and investing early on. Those savings carried me over during the ’08 crash when I didn’t have a decent job for nearly two years, we had plenty to eat and didn’t lose the house or our possessions.

        I’m just crawling out of the hole now, only to see them bring in the backhoes to dig even deeper ones.

        Somehow, I don’t think any monetary investment is going to be a ladder for this round, (as they have other nefarious reasons). Wealth preservation, maybe. So, if you have the means, do so and bury it somewhere.

        Each night I am thankful for yet another day of peace and quiet. One day that will change. The constant whine of sirens, shouts and gun shots are a possible reality, until they cease and then we’ll know what true tranquility is.

        Till then, I’ll happily put up with the “fear mongering”, “Dude. It’s bullshit politics” and “That’s another conspiracy theory.” comments from the Free Range Inmates as they chug down their fluoride and propylene glycol laced Beer.

      21. Remember that the Democrats are the same idiots that thing if you put too many planes, or tanks on and island it will sink or turn over in the ocean.

        And we wonder why the country is so screwed up!!!!!!


        • I don’t wonder why, I know why lol. It’s a mad, mad, mad, mad world out there!

      22. Just to bring this up to the twenty first century. Gold is not doing all the people in Venezuela that much good. They are selling their real gold like nobodies business, yet they starve. They have the best modern gold of all, oil, and more of it than anybody else, but they are still starving. All the riches of “Arabia” won’t save your butt if you don’t take care of the basics first. If you are rich enough to speculate, by all means go for it, but I spend my time(what little there is left) making sure I don’t starve to death.

        • Who is selling the gold? The govt. or the people???

      23. Since we’re talking Gold, would anyone want to share some trusted sources on where to get some in small denominations (commercial, or otherwise)?

      24. Proof that the godless are under satanic influance

      25. He’s speaking with forked tongue and penis breath!

      26. BUT $27 in 1868 bought $1200 worth of goods today – go figure –

        • The rep or the man in the included video?

      27. Noone is going to pay you more, for the gold, than the common rate of exchange, which, in some countries, is set very low.

        Starving people have still prospected, in desperation, hoping for rags to wear or a small morsel of food.

        Think of this, in terms of fair trade.

        In poor countries, people have grown chocolate and coffee, etc, for very cheap. They are not formally allowed, of which I am aware, to bring it to a global market.

        You’re assuming that you can scavenge for this mineral commodity, and sell it for a fair price, either following the collapse of the market, or in a country which regulates such trivialities as the rainwater, which drips from your roof.

        Either, in the market, according to the rules of that market.

        Or, without a market, to determine the worth.

      28. by this statement, this politician has shown us the value of the education he has received. They don’t teach “common sense” anymore….

      29. Another proud better than thou democrat. And they love our fed gov controlled dumb down, common core public school system. = more dummies like this democrat running our country and states in the future.

      30. Gold and Guns have several things in common.
        The two biggest commonalities are that 1):the government does not want you to have either so they can control you and 2): that sometimes the asking price for either is just too high.

        Another very important common feature is that, while guns are not as durable as gold, both will probably outlast the owner.

        However there are key differences, the most important of which may be that guns (and ammo) can be used to defend yourself and others that are trying to harm you whereas gold will give others an incentive to harm you so they can take it from you.

      31. I’m thinking “dumb-ass of the year”.

      32. Why is it I comment on 4-5 articles daily and return the next 2 days but have never seen my comments. Wondering if Sheffield is really just fake news with fake people making fake comments…….bet this comment disappears into the ether too……………………………………..

      33. I was wondering if “dumber than a box of rock” could ever sound like a dull qualifier.

        I now have the answer.

        Notice, he still isn’t wearing straight jacket, and he can go around, walk, and talk, and presumably he may be signing documents and stuff.

        Scared yet?

      34. The value of gold never changes.

        It is the value of the currency used to buy it that changes.

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