Post
Topic
Board Economics
Re: Bernanke explains why gold is not money.
by
KenJackson
on 19/07/2011, 04:14:36 UTC
Can someone explain to me what Ron Paul's point was? 

I just looked up some definitions of money, and "generally accepted medium of financial exchange" seems to be a key part of the definitions.

All sides agree that gold has value, and stable value at that.  But is it money? 
Will the grocery store or car dealer generally accept a chunk of gold as payment for goods?