Lamestream Media: Gold is Backed by Nothing, Unlike the US Dollar, Which is Backed by Government

I have no words to express the sheer lunacy of the following report:

There's something else happening here. Some investors are not confident with what gold is backed by, or if it's backed by anything at all, as compared to something like the US dollar. Investors are comfortable that the U.S. dollar is backed by the America government, so no matter what is happening to the American economy, something like the U.S. dollar is backed by the Federal Reserve that's going to be around a year from now. That's a much more comfortable investment for them.