When former Federal Reserve Chairman Ben Bernanke was questioned by Ron Paul during a 2011 monetary policy report, he famously told the Congressman that gold is not money and the only reason central banks hold it is because of ‘long-term tradition. ‘
Bernanke’s comments have since been cited by financial pundits as expert advice on why precious metals investments should be considered no different than other traditional investments like equities or bonds. Suggesting they may be a safe haven asset or that there are thousands of years of evidence supporting the claim that gold and silver are money are often laughed at and marginalized.
This post was published at shtfplan on September 2nd, 2016.