Ron Paul to Ben Bernanke: Is Gold Money? -- 7/13/11

Congressman Ron Paul gives an opening statement and questions Federal Reserve Chairman Ben Bernanke at the semi-annual Humphrey-Hawkins hearing before the House Financial Services Committee. Chairman Bernanke tells Congressman Paul that gold is not money and that banks only hold gold because of "tradition."

The hearing was held on Wednesday, July 13, 2011, at 10 a.m. in Room 2128 of the Rayburn House Office Building and was titled, "Monetary Policy and the State of the Economy."