In a July 13, 2011 exchange between Rep. Ron Paul and Fed Chairman Ben Bernake, Dr. Paul asks whether or not Bernanke believes gold is money. After a short pause, Bernanke answers "no," claiming that central banks only hold gold because of tradition.
Read »- Show Prep
- Listen to FTL
- FTL Info
- Community
- Support FTL
- Learn More


Bernanke is right and Paul is wrong
phonon 1 year 47 weeks 5 hours 33 min ago
I'm a Ron Paul fan. Supported him in 07-08, made signs etc. donated money and voted for him in the primary.
There are a few things he's dead wrong about, though. Immigration is one. Constitution worship is another. And the obsession with gold is another.
These days gold is not money. It's not used as such by 99.99% of people on the planet. It may have been used for "6000 years" as money, but that changed within the last hundred years or so.
Bernanke is right. Gold is just another commodity these days. It still doesn't explain why governments and banks hoard it.
Buying gold is a poor way to prepare for the trouble at best
maulotaur 1 year 47 weeks 21 hours 17 min ago
Gold is not money but our paper "money" is ?!
Claire Haus 1 year 47 weeks 4 days 19 hours ago