"Forget the official debt," he tells Aaron in this clip. The "real" deficit - including non-budgetary items like unfunded liabilities of Medicare, Medicaid, Social Security and the defense budget - is actually $202 trillion, the professor and author calculates; or 15 times the "official" numbers. "Congress has engaged in Enron accounting," says Kotlikoff, who recently penned an op-ed for Bloomberg entitled: The U.S. Is Bankrupt and We Don't Even Know It.

And despite the popular myth, the American colonial revolt against England occurred more over concern for its own currency than a small tax on tea. Benjamin Franklin wrote, "...the inability of the colonists to get the power to issue their own money permanently out of the hands of George III and the international bankers was the prime reason for the Revolutionary War." As previously discussed, wealth equals power. And the American revolutionists knew that to gain true freedom, they had to break the power of the Rothschild-dominated Bank of England, which had outlawed their money-colonial script.

In a paper money world the existence of money rests on a single convention – faith. This faith is no fragile concept. Even under the greatest provocation of the medium’s validity, the value of having a common money is so great that individuals will stick to that faith. But now people are beginning to lose faith in our watered-down money and have turned to real geld - as the Germans would say - real money: gold. What should you make of the recent stampede to own gold? A detached observer might be puzzled by the obsession to own the yellow, shiny stuff. Warren Buffett once wryly observed, “It gets dug out of the ground in Africa, or someplace. Then we melt it down, dig another hole, bury it again and pay people to stand around guarding it. It has no utility. Anyone watching from Mars would be scratching their head”. Buffett's response is too smart by half. A Martian would be equally puzzled to see humans cut down a $100 tree in order to pulp it, turn it into paper, print numbers on the paper, and pass it off as dollar bills worth $1 billion. Gold antagonists claim that gold is a Ponzi scheme. Its value continuing to rise, they say, depends on people willing to buy it at higher prices from previous buyers. This is to misunderstand the nature of gold. It is not just another commodity. Gold was once money, and no doubt will be again. The last four decades are the blip in time when money has not been backed by gold.