VIDEO: Fed Chairman Ben Bernanke says gold is no money. More explanations why gold is has been - and is - money for 4,000 years can be found here:To Puzzled Ben Bernanke: Gold Now Again Serves As M-O-N-E-YClick here to go to the The Prudent Investor homepage for more interesting posts.
Bernanke's Biggest Error: Gold is No Money
Wednesday, July 13, 2011
Watch this historic exchange between Congressman Ron Paul and Federal Reserve Chairman Ben Bernanke. Fast forward to 4:25 minutes to see and hear Bernanke claiming gold is not money and the Fed only holds it out of tradition.
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4 comments
Thanks for spreading the word about this.
14 July, 2011 10:19Ron Paul is right . Gold is no money. This is only a mean of storing a value in times of public distrust in government or just industrial material (metal) like the others.
25 September, 2011 21:37Well, read some recent articles of Martin Armstrong, an economic genius and historian, who explains logically why gold can not be money (one of the reasons - there is no enough quantity of gold existing to serve as means of exchange in the world). Martin will hold a seminar soon (2500 $ per 1 day) but its worth to listen to him and learn. He is a hero fought by FEDS and divine Goldman Sachs because of his genius in predicting economical and political events). I used to follow Martin long before he was unlawfully thrown to jail for 11 years and he was a genius , you can trust me, as he still is 11 years ordeal.
I love almost all of your articles but you are not right re gold.
Lili
In my first sentence of the previous comment I said Ron Paul. Well, I meant Bernanke. In this only one point Bernanke is right.
25 September, 2011 22:31Sorry for mistake.
If Bernanke is aware of the proper use of gold and the distribution of the dollar, I wonder why they still messed up the economy by not preventing the housing bubble bursting.
18 April, 2012 18:50Post a Comment