Gold is accountable to whoever you want to swap it for somethng useful with. As far as I can see, jpeople on this thread still use the USD to value gold, so let's not get too carried away,
SP: where is QE3??????
SP:"We have a fiat monetary system where money is created from thin air backed by absolutely nothing." That statement is ridiculous: why spread such nonsense? I note your point, but you have simplified it to the point of being wrong.
"In a fiat monetary system there is absolutely no need for any nation or "too big to fail" financial institution to fail at ANY point in time as all the paper money needed will be provided imo."
Ever heard of Lehman Brothers????
Perhaps you need to reconsider such a simple view on the world. Just a suggestion.
