Unlike Bernanke, Alan Greenspan Thinks Gold IS Money
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While current Federal Reserve Chairman Ben Bernanke doesn't think gold is money, one former Chairman does.
"Gold, unlike all other commodities, is a currency," Greenspan said according to a report from Bloomberg. "And the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating."
Bernanke's predecessor also said that even with gold at the $1900 level he doesn't think it's a bubble.
"Gold, unlike all other commodities, is a currency," Greenspan said according to a report from Bloomberg. "And the major thrust in the demand for gold is not for jewelry. It's not for anything other than an escape from what is perceived to be a fiat money system, paper money, that seems to be deteriorating."
Bernanke's predecessor also said that even with gold at the $1900 level he doesn't think it's a bubble.
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