AZJoe
Member

Not sure this belongs here, so move it if you see fit. I ran across this today: BIG error made at about 3:57 where he asserts that gold could not even keep up with inflation, the larger assertion being that gold has failed as money. To that I call foul. The error lays in his ignoring the fact that gold is no longer either currency or money, but whose market value is stated in terms of, say, FRNs. This in NO WAY speaks to gold's efficacy as either currency or money. So sorry, but an error this wild begs my extreme doubt as to the soundness of the argument in general. This cannot be ignored as it is fundamental to the nature of things.

CLIP from SYSTEM UPDATE #333: New York Times' Pro-War Think Tank Ties EXPOSED: Interview with Journalist Lee Fang https://rumble.com/v5exvs5-new-york-times-pro-war-think-tank-ties-exposed-interview-with-journalist-le.html {Glenn Greenwald | 14 September 2024} v5cmr99 New York Times’ Previous Reporting Undermines Its War Escalation Journalism