Quote from: jahabdank on July 03, 2011, 12:57:03 PM

I made a video where I explain what is the impact of the fractional reserve banking on the economy, and how bitcoins can fix that. Additionally I discuss how did we handle corrupt bankers in the Europe during the middle ages (small hint: burn baby, burn Wink

)

You say that it devalues gold way below its "real value", but it cannot. The real value of gold comes from its ornamental and industrial applications. Bankers can't touch that. All they do is help reduce the artificial additional currency value that distorts the market for actual, physical gold.

"How dare the financial system take away from the miners the extra value the use of gold as a financial instrument creates."

No, that extra value is harmful. It makes computers and jewelry more expensive than they should be. An ideal system *would* drop that extra value to zero to the extent it can.