Bernanke is either exceptionally clever and a phenomenal liar or he is the most irresponsible unintelligent man of significant power in our country.
In this question session between Bernanke and Ron Paul a couple of days ago, Bernanke admits his belief that gold is not money and that the only reason people buy gold is because of their fear of “really bad things happening.”
In his own words, the central banks of nations only stockpile gold as “tradition.”
Liar or moron. Either way, this man is a puppet for this administration in its destruction of the dollar, exacerbating the recession and his quantitive easing actions are dragging us back down into recession.
Gold IS money. Gold is rare, easily divisible, does not erode or corrode, and is understood by every person in every nation to have a value unto itself. That is why gold has been money for over 6,000 years for hundreds of civilizations. Utah is accepting gold from its citizens to pay taxes, Switzerland is considering a return to the gold standard to back their currency with. For 200 years our money was directly backed by gold and every civilization that has decoupled its currency from gold, has tailspinned into a monetary policy driven recession and ultimately economic collapse.
And yet despite all of this evidence, proof and history, Bernanke has the nerve to stand in front of all of us and tell us that gold is not money. That means he is ready to take us to the bottom of economic collapse, just….like….all the nations who have done what he has done before us.
We will just be another statistic of failed nations that decided gold is not money.