### Comment:
Actually it started with Nixon, he unconstitutionally severed the last tie the American dollar had with gold reserves. Our money is completely fiat and based on market speculation. If the big players around the world (Warren buffet types, central banks around the world, regular big banks around the world) think America is going to hell in a hand basket, economically speaking, then the value of our money will go into hyper inflation

### REPLY:
Gold doesn't have any real value beyond some science applications though. It's not particularly rare/intrinsically valuable compared to other elements. It's just shiny and people give it a lot of fluffy stupid fake value. People could stop being dumb and its value would drop like a rock. Going back to gold wouldn't help the situation any more so than switching to cans of food or rare earth minerals, etc.

### END.