Ron Paul Liberty Report - When The Paper/Digital Money Shuffling Stops -- Those Who Own The Gold, Will Make The Rules
Aired: 2022-10-28
Duration: 01:31


=== Central Banks and Gold Holdings (01:28) ===

[00:00:03]  Central banks have added over 300 tons of gold to their holdings so far in 2022.
[00:00:12]  Now, when I read this, what do you think the first thing that came to mind was?
[00:00:18]  Do you think gold is money?
[00:00:22]  No.
[00:00:23]  It's not money.
[00:00:24]  Even if it has been money for 6,000 years, somebody reversed that and eliminated that economic law.
[00:00:32]  Well, it's an asset.
[00:00:34]  I mean, it's the same, would you say treasury bills are money?
[00:00:36]  I don't think they're money either, but they're financial assets.
[00:00:38]  Why do central banks hold it?
[00:00:40]  Well, it's the former reserves.
[00:00:42]  So why don't they hold diamonds?
[00:00:45]  Well, it's tradition, long-term tradition.
[00:00:48]  Some people still think it's money.
[00:00:50]  That is one of Dr. Paul's greatest moments.
[00:00:53]  Thank goodness it was on public display for everyone to see.
[00:00:59]  And even all these years later, we still talk about it.
[00:01:03]  Do central banks, do governments, Russia, China, are they just holding gold for tradition?
[00:01:11]  Absolutely not.
[00:01:12]  Absolutely not.
[00:01:14]  Everyone knows in those echelons that gold is money and that we're just shuffling around paper.
[00:01:21]  And like with musical chairs, you want to make sure you end up with a chair.
[00:01:26]  So people, the central banks and the governments, they're accumulating gold.