Move over "barbaric relic" and "no interest".
"Gold is backed by nothing". We have a new winner for the all-time most idiotic thing that The Doc has EVER heard uttered about gold.
You seriously can't make this crap up folks.
Check out this local MSM news report on gold that aired yesterday.
"Some investors aren't confident with what gold is backed by- or if its backed by anything at all, as compared to something like the US dollar.
Investors are comfortable that the US dollar is backed by the American government, so that no matter what is happening to the US economy, something like the US dollar is backed by the Federal Reserve, that's going to be around a year from now. That's a much more comfortable investment for them."
Watch the entire interview below
