Jeff Nielson: Bitgold, Peter Schiff, and Helicopter Money

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Boing_Snap

Unfortunately Jeff doesn’t understand the basic concept of two individuals that have bitGold accounts, transfers are gold from one account to another, thereby paying someone with gold. He goes on and on about the credit card payment being a misrepresentation, which is a completely separate type of payment, that is a conversion of gold to fiat, paying someone in fiat.

A number of things he presented made sense, but in the end he seemed to be bringing more of the idiotic reasoning gold bashers use, like measuring gold from 2011 peaks.