Thursday, September 29, 2011

The Media And Gold

Best interview of the year in terms of comedic value comes from the lovely Bridget who tries to explain the current gold sell off.



"Gold is backed by nothing, while the dollar is backed by our government and the Federal Reserve."

Oh, no Bridget. Is this really the information the public is receiving when they go home at night? 

For those newer to this site (and Bridget), the US dollar is backed by nothing.  It is a piece of paper that has no intrinsic value.  Gold is backed by 5,000 years of history as money, and it has intrinsic value in that it is scarce and cannot be digitally printed using a computer at the Federal Reserve.

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