Yesterday, at a Financial Services Hearing, Ron Paul had his opportunity to pose some serious questions to Federal Reserve Ben Bernanke. Among the questions, Paul asked 'Helicopter Ben' if in his secret meetings with central bankers, if the topic of a gold standard has arose.

In Paul's YouTube channel he summarizes this, the significance of gold, and where the global economy may go from here. Click the play button below to be automatically fast forward to Paul's remarks on gold.

Ron Paul brings up the fact that while everyone else in the world is buying gold, the central banks seem to be the only ones selling it. Just recently Iran purchased $75 billion worth of gold bullion. And countries in Asia are buying gold. So why do the central banks gold continue to sell gold? And if there is so much demand, why is the spot price of gold still so low - even amidst the most unprecedented demand for gold bullion in world history?

Paul explains, "anytime a financial system breaks down... they've always had to resort to some sort of commodity (gold) to restore confidence."

"The purpose of selling the gold (to Western central bankers), is to pretend that the dollar is much stronger than it really it is. If they didn't sell gold over this last decade, the price of gold would be very much higher and would indicate the dollar is so much weaker."

Although it is unlikely that a new, gold backed currency will be created - it is interesting to consider the implications. The price of gold would undoubtedly skyrocket. Nations like Iran who have been investing into gold would certainly reap the benefits. And America, the world's largest owner of gold (more than double the next best country Germany has) would also certainly be sitting in a good position.