Ben Bernanke: Gold Is Not Money

Posted July 20th, 2011 by losingfeeling

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.

Bernanke is right and Paul is wrong

phonon 4 years 5 weeks 5 days 13 hours 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 4 years 5 weeks 6 days 5 hours ago

If you think gold equals money, try to go buy something with it and see how far you get. Sure you can trade it out for money later, more or less, but that can be a long and involved process. Now I realize that all these radio shows have jumped on the "buy gold" train so they can get their hands into your fear of the world collapsing. They get your money and you get a piece of metal that you have to protect but serves no function - you cannot eat gold. Putting your hard-earned money into their gold promotions now for some sort of protection later is pointless as gold will not save you from the world as you can see. It would be far better to devise plans toward the real needs and necessities of life than the delusion of a metal brick.

Gold is not money but our paper "money" is ?!

Claire Haus 4 years 6 weeks 3 days 3 hours ago

Can it get any more delusional??? So is tradition more valuable then real money? LOL!

Air Times & Contact

LIVE 7 Days a Week!
Mon-Sun: 7pm-10pm Eastern

Call toll-free:

You can also Skype us.

Join our Email List

Stay up to date with the latest about Free Talk Live, and receive our Weekly Digest email - the most popular stories for the week from our front page and also the week's audio highlights!

See our past emails.

Free Talk Live 2.5

Welcome Free Talk Live 2.5! Now, with Reddit!
You'll need a Reddit account before you can vote on and submit show prep. (That is different from your FTL/AMP account.)

The content here is the same as you will see on the FTL Subreddit. Please submit bug reports on the appropriate BBS subforum.

Enjoy the new site and thanks for submitting your content!


New forum topics

Who's online

There are currently 0 users and 0 guests online.
Free Talk Live Image
Free Talk Live Image
Free Talk Live Image
Free Talk Live Image
Liberty Stickers
Watch the Ridley Report
Mark Warden - New Hampshire Realtor
Free Talk Live Image
Free Talk Live Image
Free Talk Live Image
Free Talk Live Image
shiny badges
Midas Resources
Advertise Market Promote with AMP
Free Keene - NH Liberty Activism
Free State Project
Join the Shire Society
Free Talk Live Image
Freedom's Phoenix
stitcher smartradio