Friday, September 21, 2012

Horror story

This is from Sara Hoyt - novelist, libertarian, patriot, and blogger
Years ago, at a panel at world fantasy, I found myself the only writer with three editors at the table. I don’t know if I mentioned that economics is my hobby? Well, in any case, it clearly wasn’t these editors hobby and they were all older than I. Which shouldn’t matter, as they weren’t old enough to explain this: when currency came up, to a man (well, there were two women and one man, the man is the one who was vocal about it, though) they insisted that US currency represented a certain amount of gold. To guffaws from about a third the audience (yes, a third) the male editor continued to argue that our currency was gold based.

As I disabused him of this notion, his eyes grew wide and panicky and he said,

“You mean there’s nothing behind that paper but that the government says so?” His expression of almost comic-book terror said it all.

“We’re depending on the word of politicians to make our life-savings worth something?”

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