This Is The Best Proof We've Ever Seen That Gold Is In A Bubble

Felix Salmon at Reuters has a super-clever video out where he attempts to answer the question: Is gold a currency?

And of course there’s no better way to answer that than to just try to go around and buy stuff with a gram of gold.

It sounds silly, but if gold is a currency, then it should be usable as a medium of exchange.

Anyway, eventually he does make a purchase with gold after several people rejected his offer.

But the crazy part is right in the beginning. Felix goes up to a guy loading wholesale beer, and the guy knows instantly (!) what a gram of gold is worth: right around $50!

When the guy loading wholesale beer knows the price of a gram of gold instantly, you’ve just got your famous example of the taxi driver giving you stock tips. DANGER!

(Hat tip to The Armo Trader and Kid Dynamite, who was the first one to be astounded in Felix’s comment section)

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