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Everyone's Buzzing About Bernanke's Controversial Comments About Gold

A line from Bernanke's testimony this morning is getting some folks all atwitter. First he was asked by Ron Paul whether he thinks gold is money: He said "no." Then he Ron Paul asked him why Central Banks hold so much: He answered "tradition." Now this is the classic gold bug argument: Because gold has been used as a store of wealth for eons, it still should have value.

2 Comments in Response to

Comment by Lola Flores
Entered on:

All those who don't know that The Bernak is a thief, a stooge and a clown, please raise your hands.

Comment by Ken Valentine
Entered on:

 Constitutionally, money is gold and silver. The reason the fed went off of the gold standard in 1933 was because they were printing up more gold "certificates" than they could actually redeem with gold.

You can't print gold, that's why the fed likes paper instead -- paper currency can be inflated.

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