The last time Ben Bernanke gave his semi-annual Federal Reserve monetary policy report to the House Financial Services Committee, we were treated to The Bernank's testimony to Ron Paul that gold is not money, it is merely tradition. Ron Paul has somehow topped that today, resulting in Fed Chairman Ben Bernanke admitting that SILVER IS A CURRENCY!!!
Paul asks Bernanke if he does his own grocery shopping, and when The Bernank replied 'yes', Paul immediately cut him off, stating 'no one believes the 2% inflation rate,' and 'someone is stealing our wealth!'
Paul then pulled a silver eagle out of his pocket, and informed Bernanke that in 2006 the coin could purchase 4 gallons of gas, today, it can purchase 11, and stated 'That's preservation of value!!'
The Bernank's response? 'Anyone can hold whatever currency they want'
Watch the full exchange below:
I would not want to be on the phone call Ben receives from his bosses when they hear about him admitting on live TV before Congress that silver is a currency and anyone can hold it if they wish.
At the 3:55 mark, Paul pulls out his Silver Eagle:
