Gold Stupidity-Your Average American?

mrearlygold · September 27, 2011 1:39AM

Is the average American this stupid?

Gold Stupidity

mhammerman · September 27, 2011 1:47AM

The reporter: "Gold isnt backed by anything...as compared to something like the US dollar."

Yes, the public is that stupid as are the MSM twits, obviously. They deserve what they get. "Please hold the line, sir. I have a call from Mr. Darwin."

Barndog · September 27, 2011 1:52AM

it is nice to see that Canadian news channels are giving middle school students the chance to do "man on the street" reports. Those would be fun in the US too...maybe even better than the typical US MSM effort.

BigE · September 27, 2011 1:57AM

Sorry, could you repeat the question?--------------BigE

renman95 · September 27, 2011 2:03AM

The Dollar is backed by the taxpayer and gold is backed by...well, demand.

pf70collector · September 27, 2011 2:10AM

I doubt the average american knows the actual worth of one ounce of gold.

jmski52 · September 27, 2011 2:19AM

I have 50 ballistic rolls of US Gold Dollars and they are backed by the US Guvermint, so what is the problem?

CaptHenway · September 27, 2011 4:34AM

I am reminded of that classic Aflac commercial with Yogi Berra, where he says "And they pay you with cash, which is just like money!"

secondrepublic · September 27, 2011 4:40AM

The news report is from Calgary, Canada. However, I don't think Americans are any smarter about gold than our cousins up north. CLUELESS.

pf70collector · September 27, 2011 4:44AM

I remember I newscast about a reporter going up to people on the street and asking what do you think this one ounce gold coin costs? Most did not have a clue.

pf70collector · September 27, 2011 4:49AM

Price of Gold

Here is the link to "What does an ounce of gold costs?"

mrearlygold · September 27, 2011 5:06AM

Frank voted?

Pokermandude · September 27, 2011 5:08AM

<< Price of Gold

Here is the link to "What does an ounce of gold costs?" >>

This is the video I thought was going to be in the OP.

As for the OP video, I suppose it's *possible* (though unlikely) that the story just forgot to mention the lack of gold reserves in ETFs "gold" purchases. Still made me LOL though.

gecko109 · September 27, 2011 5:18AM

Heres another good one from Dice.

Taco

Coins101 · September 27, 2011 5:35AM

So I wonder if these two think diamonds are backed by anything? But I bet they think they are very valuable because they are backed by, uh, something???

Maybe they should go back in history and find out the US dollar use to be backed by gold. Now, it's backed by air.

MsMorrisine · September 27, 2011 6:11AM

I voted no.

It's hard to believe there are that many people out there that are as dumb as those comments are.

"the federal reserve will be around a year from now" (implying gold won't be??)

mrearlygold · September 27, 2011 6:37AM

US ?

People sign "I am a moron" petition without reading headline

roadrunner · September 27, 2011 7:13AM

I just realized that our rare coins aren't backed by anything either.

Gold is backed by Central Banks that keep 31,000 tonnnes of it on hand as well as by the people of the world that have the other 134,000 tonnes socked away.

roadrunner

derryb · September 27, 2011 7:23AM

fiat currencies are backed by nothing but the willingness of someone else to accept them in return for a good or service. Those that believe the dollar is backed by the full faith and credit of the United States are idiots. We exchange dollars instead of doughnuts because US law says we will. The only thing the government is required to give you for a dollar is a dollar's worth of credit on what you owe the government in taxes. And of course the catch is that they also tell you how much you owe them in taxes. The less value a dollar has because of their dollar destruction policy and spending is irrelevent to them because they will just tell you that you have to give them more dollars in taxes.

The only value that can be assigned to anything in this world is what someone else is willing to give in return for it. This includes love and it includes gold.

GrumpyEd · September 27, 2011 9:15AM

<< The only value that can be assigned to anything in this world is what someone else is willing to give you in return for it. This includes love and it includes gold. >>

This reminds me of a Twilight Zone episode about gold.

These 4 guys rob a train of gold bars.
Their plan is hide in a cave where they go into suspended animation for 100 years and wake up rich.
100 years pass and 3 wake up but the 4th guy died because a rock fell on him.
They plan to go to a city but one greedy guy kills one of the others.
The 2 remaining guys put bars in back packs and start walking towards a city.
Along the way one guy trades the other guy his gold for water then when his gold is almost gone he bashes the other guy on the head with his last bar and walks on alone.
As he's dying of thirst a car pulls up with a guy and a lady (looks like the Jetsons car because it's in the future).
With his last breath he waves a gold bar and says I'll give it for water and he dies.

The guy and lady look puzzled and say "in the past people thought gold was like money but that was before man learned to make it". They toss the bar on the ground next to the dead guy and say "we'll need to tell the police about this crazy guys body"

yellowkid · September 27, 2011 9:37AM

I feel that the average American is clueless about almost anything that is going on in the world.

Mission16 · September 28, 2011 12:17AM

I think that is the stupidest thing I have ever heard on a news show.

gsa1fan · September 28, 2011 12:57AM

She wasn't even blonde!

ricko · September 28, 2011 10:25PM

I would say there are those out there who would believe this report.... I would like to believe that the majority would not.. it truly is a stupid statement. Cheers, RickO

jmski52 · September 29, 2011 12:01AM

The problem with misinformation is that it is self-perpetuating. There's alot to be desired with the education system in many places.

mrearlygold · September 29, 2011 1:15AM

I knew it would happen before you did

mayor1 · September 29, 2011 2:08AM

Only because I told you it was going to happen!

AUandAG · September 29, 2011 7:10AM

<< I voted no.

It's hard to believe there are that many people out there that are as dumb as those comments are.

"the federal reserve will be around a year from now" (implying gold won't be??) >>

I ditto this!
bob

OnlyGoldIsMoney · September 29, 2011 8:26AM

<< Is the average American this stupid?

Gold Stupidity >>

NO. However the average Columbia School of Journalism graduate just might be.

piecesofme · September 29, 2011 9:41AM

I remember I newscast about a reporter going up to people on the street and asking what do you think this one ounce gold coin costs? Most did not have a clue.

I will preface this by saying that you all know me by now, I always consider the other side.

Maybe they don't know the value of an oz of Gold because they live paycheck to paycheck and their biggest concerns involve keeping their job (if they are fortunate enough to have one), supply food & clothing for their family, upkeep their home and vehicle(s), and maybe, just maybe still put 10% in the basket when it's passed around on Sunday morning.

To this person, Gold is a luxury of the rich that have no worries...this person is far more concerned about the neccessities of their day to day lives.

Don't be hatin', I'm just sayin there's always another side of the coin.

dpoole · September 29, 2011 10:12AM

I voted "No."

I have a desperate need to believe this.

jmski52 · September 29, 2011 12:29PM

But, but...I knew you knew it would happen before you did.

goingbroke · September 29, 2011 6:17PM

Americans have become too complacent with the way their society is being run

mrearlygold · September 29, 2011 10:45PM

But after you found out who did you tell?

jmski52 · September 30, 2011 1:22AM

But after you found out who did you tell?

The Voices, of course.

mrearlygold · October 1, 2011 5:49AM

Another example that came into the companies email box just a few minutes ago:

Message : I dont know if what I have is worth anything I just know that my gramps had this for years I just wanted to know if what I have is worth something other then memories I have a MASATHUSETS IN NEW ENGLAND : AN : DOM 1652 XII. The reason I dont think its real is because it has a copy stamp on it it you would help me I would very thankfull, oh and I would be happy to sent you pics....Thank You for your time... L.A. Hawkins

piecesofme · October 1, 2011 9:24AM

Somebody needs to take a class in Class

Bear · October 3, 2011 10:01AM

So everything is the world resembling a financial system is backed by faith & trust, demand for items

that non of us use. Of course, there is the ultimate sublime to the ridiculous, a paper treasury note, backed

by paper dollars, backed only by a large volume of heated gases in Washington. It just fills one with so much

confidence, that I have a warm and tingly feeling all over.

Did you know that diamonds are not as rare as DeBeer's would like to have you think. The DsBs vaults hold almost

a trillion dollars in raw diamonds as the supply is controlled to almost balance demand. Truly rare diamonds are the stones

over 2 carrots, perfect stoned or the deeply toned stones so rarely seen.

So much in life, that we place a monetary value in, is merely a myth. Wrapped in the fog of misinformation and wishful thinking.

Items of true value are clean drinking water, food, shelter and some king of clothing. A bissal schnapps ain't too bad neither.

Goldbully · October 3, 2011 10:05AM

<< Is the average American this stupid?

Gold Stupidity >>

I would vote, but video has gone bye bye!

Bear · October 3, 2011 10:12AM

It is not that Americans are so stupid, they just would rather expend

their attentions on the Jackson trial, Dancing With the Stars and football.

It is rather sad, a Great People and a Great Nation devoured by trivial pursuit

rather then effective Government,sound monetary system and sensible

foreign policies.

Gold Stupidity-Your Average American?

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