Comment: What is money?

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What is money?

"Ultimately I think what we'll have to do is talk about the nature of money, the definition of money, because it's pretty hard to manage something you can't even define."

- Dr. Paul, May 8, 2012

Here is the most important part: http://www.c-spanvideo.org/program/PanelTw/start/4310/stop/4790

The rest of the time was mostly wasted talking about something relatively insignificant; the Fed's dual mandate of maximum employment / stable prices and moderate long-term interest rates, and whether or not to reduce it to a single mandate of stable prices and moderate long-term interest rates.