Ron Paul : Why do central banks hold Gold? Bernanke : Tradition

Federal Reserve Chair Ben Bernanke presented to the committee the Federal Reserve Board's semiannual report on monetary policy. July 13 2011
Ron Paul to Bernanke : "Gold is Money?"
-"No it's a precious metal"
Ron Paul to Bernanke : "Why do central banks hold it?"
- "Tradition."

NO COMMENT!

• Category

  News & Politics

[Archangel0804]

They didn't stop minting...they removed the Gold and Silver from the coins. THEN they minted more coins thinking it would fool the people and their trade partners that it was the same Want another example when the exact same thing happened. Do your homework on the Weimar Republic. It didn't work that way then, and it isn't going to work now. You can't print yourself out of debt, and you can't spend your way to prosperity. Just like you can't multiply wealth by dividiing it. ECON 101

[NewWesternMonarch]

Why is money green? Because Jews pick it too early.

[quietman1k]

Establishment troll.

[alsamuef]

Bring the torch!!!! call the mob!!! they stole our gold!!!! In Jews don't trust!!!

Crackpot....

[quietman1k]

What are you an imbecile, you do realize that the United States gold reserve was looted covertly right under our noses, stolen by the bankers who privately own the Federal Reserve. Usury is a felony and this small group of banking oligarchs should be hung for theft!

[alsamuef]

And?

[quietman1k]

watch?v=Pl305N56CGY

The Federal Reserve has NO gold, two board members of the Federal Reserve admit they have not stored gold since 1934.

[alsamuef]

Why is that nutcase a congressman ?

[rifiG]

What the hell are you saying? Are you BB's kid?

[MrBoDiggety]

So, why is it that this person who spent most of their life studying economics "never saw" the economic crisis of 2008 coming while the doctor of medicine predicted it in 2003?

[MrBoDiggety]

HOLY SHIT! SOMEBODY JUST GOT PIIIIIIIIMP SMAAAAACKED!!!

[Ken Smith]

Tradition is the right answer. It would make more sense to hold aluminum even though it takes a lot more of it. Aluminum is almost a perfect way to match to the average energy cost. These days, if you have energy, you and produce just about anything. Example: We are running out of fresh water. Salt can be removed from seawater if you have energy.