Is Gold Money? The Gold Standard Debate Is Back
Aug 16th, 2011 | By Andrew
Speaking to Congress recently, Fed Chairman Ben Bernanke was asked point blank by Representative Ron Paul if gold was money. He paused, then answered definitively, “No, it’s a precious metal.” However, that precious metal is now at the center of a growing storm of discussions about what to do with the world’s currencies as the global economy sinks into a lingering malaise. On one hand, you have those who dismiss gold as a relic. It’s nothing more than a traditional store of wealth, with no relationship to the modern economy. On the other hand, you
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