Quote:
Originally Posted by Houdini
What's funny is Bernanke is right. Gold, at least in the U.S. and most places around the world, is NOT money, it's an asset. Of course it has been used as money in the past, but it's not right now. If you don't believe me, go to the grocery store and pay with gold coins and see what happens.
Bernanke paused because the question was loaded. If he had said "yes," then Paul would have grilled him on why it's not backed, yada, yada, yada.
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The government here in the states made it illegal to own gold, stole it all, and then it had huge huge gains against the dollar. They're looking at possibly doing it again, I think.
Don't they also want to make it illegal to use gold as currency in the states? Has that happened? I can't remember
Gold is money I don't care what our past 100 years may or may not say. Istorically, gold, it is money because it's universally accepted as valuable. Period.