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ETpro's avatar

Simplistic and misleading. Get stranded on a desert is island. A ton of paper money would carry FAR more survival value than a ton of gold. I do worry about our Fed being a quasi-private institution, but that is what you get in a country with a bunch of conservatives who distrust government more than the likes of Enron and Bernie Madoff. Every developed nation on Earth now uses a fiat currency backed by its GDP. There is VERY good reason for this and not gold. The population and the GDP are growing far more rapidly than the world’s gold supply. Eventually you would end up with parking meters needing a few molecules of gold for a half hour. How would we manage that?

It’s too bad they went down the Ron Paul rabbit hole with the video, because they do touch on many of the ills that brought our financial system to the verge of collapse under George W. Bush, and it would be good to have such an accessible film that really concentrates on reality;

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