Chief Ben Bernanke faced - off with fed hating Representative Ron Paul during his monetary policy report to Congress on Wednesday. The head of the Fed was forced, to respond to the allegations while failed to help main while he was pushed on his views on Gold Street, enrich already rich corporations. The question of whether Gold is money, responded bluntly "no," Bernanke. (See video below).
Serve as the most Bernanke's call for of non sustainability Medicaid and Republic Frank (D mass.) reports to the Congress politician, to pursue their own agenda, is the Chairman of their issues with Republican Republic Bacchus talk focusing on the need to raise debt without issues, it was a stand-off between Bernanke and Ron Paul, who took all the attention. (Read apocalyptic Bernanke: the debt increase ceiling or otherwise).
Republic of Ron Paul, Republican for Texas, asked why a capital injection of more than $5 trillion "did not much" to help the consumer, in which about two-thirds of GDP in the United States, and which support economy, while it helped boost profits Bernanke. "You $17,000 every citizen may have been," said Ron Paul.
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Bernanke, no single dollar spent on the defensive, told Republic of Ron Paul, that his institution had the Fed was the Chairman, again gains to the Government rather "Profit centre" according to. When Bernanke Republic Paul about the history of the Fed began preaching ("We are here to liquidity [in abnormal situations]," said the Chairman), it was interrupted.
Republic Paul asked "When you wake in the morning up, do you think about the price of gold". After stopping the for a second, Bernanke responded, clearly uncomfortable. that much on the price of gold attention, only to be interrupted again.
"Gold's at about $1,580 [an ounce] this morning, what you think of the price of gold?" asked Paul Republic. A stern-faced Bernanke replied people bought it for protection and was once again cut off with Ron Paul again on the offensive.
"Gold is money?" he asked. Clearly disturbed, Bernanke said representatives of the "No." "It is a precious metal."
After Paul, interrupted to note the long history of gold as money, Bernanke drove him continued: "It is an asset." Would you say bills are money? I don't think that they are either money, but they are a financial asset. "
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