The Only Thing Backing the Dollar Now Is Force | William Watkins

The U.S. national debt has reached nearly $40 trillion, and the interest alone now rivals the entire military budget. Constitutional scholar William Watkins argues the dollar today is backed by little more than the coercive power of the government, and that the drift from the founders' hard-money design is why the debt keeps compounding. Kitco's Jeremy Szafron talks with William J. Watkins, Jr. of the Independent Institute about how the spending guardrails came off (from the founders' "few a...