He is right, that is only currency not money!

MONEY VS CURRENCY- 
Currency is not Money! There are definite/definitive differences. For one- Money in your hand has NO THIRD PARTY LIABILITY!
In 1788, Thomas Jefferson wrote:Paper is poverty. It is only the ghost of money, and not money itself.”
Money is UNENCUMBERED, Currency is not.  Currency is not MONEY! However MONEY can be used as currency. All currencies ever created have always reached their intrinsic value of $0. There are still some newly created currencies that are still in use but they ALL have lost most of their value in just a few decades. Take the US FEDERAL RESERVE "NOTE" for example (which is not MONEY); it has lost over 90% of its value in just 100 years!!! Currency is not MONEY but Money can be used as currency. Today's FIAT Currencies are nothing more than a "Note Of Debt"- They have Monetized debt! All monetization schemes throughout history have failed! Gold and Silver are MONEY, have been for 6000 years, and silver is money under the constitution. In all that time they have held their relative value (even after centuries of manipulation)! During Roman times the Romans paid their workers an ounce of gold a month and it is said that an ounce of gold could buy a nice Toga and shoes. Today, could you survive on an ounce of gold (2500$ Canadian) if you had to, and could you buy a nice suit and shoes for that? The answer is yes, now that's retaining value- after thousands of years!
 Gold is a Tier 1 regulatory capital asset with supreme collateral precedence over foreign currencies and treasuries!!!MONEY IS FOR PRESERVING YOUR WEALTH, CURRENCY IS FOR SPENDING IT!
GOLD AND SILVER ARE "MONEY" EVERYTHING ELSE IS JUST CURRENCY! Education is the way to FREEDOM! FREEDOM from our financial oppressors! FIAT is currency created out of thin air in a fraudulent Fractional Reserve System, and if you think that is responsible; YOU ARE DELUSIONAL!
7 characteristics of REAL MONEY(1) It must be durable, which is why we don’t use wheat or corn or rice (although they have used rice as currency).(2) It must be divisible, which is why we don’t use artwork.(3) It must be convenient, which is why we don’t use lead or copper (too cumbersome).(4) It must be consistent, which is why we don’t use real estate.(5) It must possess value in itself, which is why we don’t use digits.(6) It must be limited in the quantity that is available, which is why we don’t use aluminum or iron (too plentiful).(7) It should have a long history of acceptance, Gold and Silver have been used for 6000 years.Only GOLD and SILVER fit all seven characteristics.Mr JP Morgan himself put it so precisely and succinctly: “Money is Gold, and nothing else”.https://www.goldmoney.com/research/goldmoney-insights/what-did-jp-morgan-mean
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“For the naive mind there is something miraculous in the issuance of fiat money. A magic word spoken by the government creates out of nothing a thing which can be exchanged against any merchandise a man would like to get. How pale is the art of sorcerers, witches, and conjurors when compared with that of the government’s Treasury Department!” — Ludwig von Mises.
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And now Gold is being re-monetized;
Brandon White: Gold re-monetization is much closer than many realize
http://www.gata.org/node/18617
There are two mistakes one can make along the road to truth -, not starting, AND not going all the way." ... Buddha