“Gold is NOT Money.”

http://youtu.be/auaTdFOj5c8
Ron Paul “Do you think – Do you think gold is money?”

Ben Bernanke “No, it’s not money, it’s a precious metal.”

Ron Paul “Even if its been money for 6000 years?”

Ben Bernanke “Well, its an asset. You say treasury-bills are money i don’t think they’re money either, but they are a financial asset.”

Ron Paul “Why do central banks hold it?”

Ben Bernanke “… Well, Its a form of reserves.”

Ron Paul “why don’t they hold diamonds?”

Ben Bernanke “…” “Well… It’s tradition.”

Me : *puzzled*

2 comments to “Gold is NOT Money.”

  • Country Codger

    What can anyone say except that the man is an idiot. Hello, is this news? What was it he said when asked about falling home prices, “I don’t understand the question because what you are describing has never happened before.” Well Ben do you F^&*ing get it now?

  • crisscross

    Bernanke has said and done some stupid things, but I don’t believe for a minute he’s saying anything but what he’s supposed to say in order to serve his deceitful internationalist masters.

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