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July 2011 Miscellaneous Economic Fundamentals

Ally

Research Assistant
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Mar 24, 2009
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This is the best answer we've seen to the question: Is gold money?





On Wednesday, when Bernanke was doing his Humphrey-Hawkins testimony, Ron Paul asked him if gold was money. The Fed chairman said "no."




We wrote about it here.




The best response, though, comes from a trader (who will remain anonymous), who sent the following out:


One thing that riled me a bit this week was Ron Paul`s questioning of Ben Bernanke on whether gold is money. After questioning, the established tin-foil haberdashery contingent went wild about how `silly` Ben was made to look. Even people you`d think might know a thing or two about money like JP Morgan`s FX strategist Ken Landon decided it was time again to pile on and mock with the hyperinflationistas.






Read the full article here.
 
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