Regulatory Capital Interim Final Rule

Do you still believe gold isn't money, especially since our dearly beloved Fed Chairman Bernanke denies it is money?

Then watch this video published by the FDIC, which insures deposit accounts.  Specifically, fast-forward to the 20-minute and 31-minute marks and see what the FDIC considers "financial collateral".

- Cash on deposit
- Gold bullion
- US Government securities
- Publicly traded equities and convertible bonds
- Money market fund shares (if quoted daily)

http://youtu.be/yrE-seNyXvI

So yes, gold is a "financial asset", but it's more than that.  It's good money.  And it's certainly not the "barbarous relic" the neo-Keynesians would have you believe it is.

Don't believe this blogger--healthy skepticism is encouraged.  But don't always believe government and banking officials either.  Because sometimes they talk out of both sides of their mouths.