In this report, from London on Saturday, August 3rd, 2019 I recollect an exchange between congressman Ron Paul and former Fed chairman Ben Bernanke in 2011.
During the congressional testimony, Ron Paul asked Ben Bernanke if gold was money and the Fed chairman replied and said that it wasn't and that it was "tradition"!
So today I look at the Federal Reserve's balance sheet and show the viewer how the regional Federal Reserve banks actually transact in gold certificates amongst themselves and thus proving that these gold certificates on the Fed's balance sheet are actually money.
I also look at recent reports showing that Central Banks around the world continue to accumulate gold like there is no tomorrow as a way to diversify away from the dollar of the Federal Reserve Note. The FT reports that after last year's record purchase by Central Banks the pace for the first half of the year has set another record.
My conclusion is that "Helicopter Ben" knows very well that gold is money but is unwilling to admit it as it would go against the PhD economist paradigm that fiat paper or debt is money even though gold has been used as money for thousands of years.
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