Gold isn't money because it was not issued by Mr. Benanke

The debt is backed by collateral -- the citizens and their property supposedly.

folks buy it and sell it, so i guess so.

[quote author=smoothie link=topic=28629.msg360227#msg360227
What Mr. Benanke doesn't realize is that money is also an asset. Gold is an asset and gold is money therefore gold is money. He is plainly stupid.
[/quote]

Your logic does not follow. (A penny is a coin and a nickel is a coin, therefore, a penny is a nickel?)

Money is defined as the most marketable thing - the easiest thing there is to trade. Gold is not the easiest thing to trade. Just try bringing it to a business.

It can be money, a very good form of money. But it is not in our society.

So....what's wrong with saying gold isn't money?  Gold isn't money.  People don't exchange it for goods and services, people buy it (with actual money) and hold onto it.  Just like other assets, e.g. silver, oil, buildings, paintings, etc.

I know goldbugs love bashing the Fed, but this is just silly.

I heard he doesn't want candy to be money either!  Why does he hate candy?  What's his angle???

Another question is why you are claiming that Bernanke doesn't want gold to be money, when he never said that. All he said is that gold is not money. Neither is salt. It has been and it could be, but it currently isn't. Your assumption is probably right though, I don't think he wants gold to be money either. The reason is that it has been tried, and found to create a lot of problems that fiat doesn't have. Some would prefer those problems over those fiat creates, either because they think they are smaller, or because they pretend they aren't actually problems. They are apparently a minority in practically every part of the world, though.

Bernanke has no right to issue money.
The only institute that has the constitutional right (and duty) to issue money, is congress.

WOW 

He's got such a poker face. Bernanke is a good liar.