Why does FED hold gold? Tradition

If you are watching or listening to Bernanke you heard Ron Paul ask Bernanke why the Fed holds gold.  After a long pause Bernanke answered “tradition”.

I am reminded of the scene from Charlie Wilson’s War where Julia Roberts asks Tom Hanks
“why is Congress saying one thing and doing nothing”  Tom Hanks responds “Well, tradition mostly”

That scene is not available on youtube but this is another one of my favorite.

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