Gold vs. Bitcoin - Which is better in a financial crisis?Submitted by sdczen on Thu, 11/07/2013 - 14:50
What do you guys think?
Gold has been considered money for centuries; although, FED chairman Ben Bernanke would disagree. In his now infamous answer to former Congressman Ron Paul's question: "Do you think gold is money?" Bernanke had a very puzzled look on his face when posed with such a straight forward question. His answer was an emphatic "No". If you understood the position of the Federal Reserve Bank, you'd understand why such a question is a double-edged sword. The lifeblood of the Federal Reserve Bank is DEBT, and to them, anything other than debt is one more nail in their monopoly coffin.
Ron Paul followed up with the question: "Why do central banks hold it (gold)?". Bernanke's response: "It's a form of reserves, its tradition". The dirty little secret is that "reserves" are money, and these gold reserves were confiscated from the people in 1933 by the United States Government. This is important, the US confiscated every ounce of gold from the citizens of the US, and transferred it to the private banking cartel known as the Federal Reserve Bank. The FED was formed in 1913, and it took them merely 20 years before they consolidated what Bernanke would classify as "Non-money" (Gold) into their "reserves".
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