Post
Topic
Board Economics
Re: Bernanke explains why gold is not money.
by
jtimon
on 20/07/2011, 13:38:12 UTC
Offload it for what?  Cash?  If you have to take your money to a special store to exchange it for cash, it's hardly money.

Many people use it for direct exchange.

Gadaffi proposed it for international trades between African countries. Maybe Libya would sell its oil only for gold later. International and central bankers don't like that. Saddam announced that that Irak was going to accept euros instead of dollars before the war.