Hoenig Says Gold Is Money

In a stark contrast from what Federal Reserve chairmen Ben Bernanke said earlier this month, Kansas City Federal Reserve President Thomas Hoenig said gold is money.

In comments that are crossing the wire, Hoenig said, "The dollar fulfills the three functions of money. So does gold."

That's a sharp cry from when Ron Paul asked Bernanke whether gold was money, and Bernanke stuttered, paused and ultimately said "No."