Sputnik International Nearly 1/3 Americans Believe US Dollar is Still Backed by Gold - Study

29.3 percent of Americans still believe that the US dollar is backed by gold, a new study published by Hong Kong-based cryptocurrency company Genesis Mining has found, cryptocurrency news website CryptoCoinsNews has reported.…

The survey also found that Americans have other misconceptions about banking and finance, discovering, for example, that only 52 percent of respondents know that banks do not hold 100 percent of their customers’ deposits in their vaults, with the other 48 percent answering that they thought they did or “I don’t know.”

The study also asked respondents who decides when more dollars are printed, with 58.8 percent answering the Federal Reserve, 18.4 percent saying they didn’t know, and between 1 percent to 8.8 percent offering answers ranging from “US citizens,” to banks, the White House, Congress, and “the US Mint.”

Based on a survey by a crypto company, but pretty mind-boggling if it is has any relevance to reality. MMT proponents have their work cut out for them.

Sputnik International
Nearly 1/3 Americans Believe US Dollar is Still Backed by Gold - Study

Emily Swanson and Ryan Grim — New Poll Shows Political Futility Of Deficit Reduction

The budget deficit is the lowest it has been since President Barack Obama took office, according to a Congressional Budget Office report this week. But don't expect that to matter to the American people.

In fact, the deficit has been falling steadily since 2009. Yet a new HuffPost/YouGov poll shows that Americans still think the deficit is going up and disapprove of Washington politicians accordingly....

According to the new poll, 54 percent of Americans think the budget deficit has increased since Obama took office in 2009, while only 19 percent know it has decreased. Fourteen percent think it has stayed the same since Obama became president.

The Huffington Post
New Poll Shows Political Futility Of Deficit Reduction
Emily Swanson and Ryan Grim

Walter Hickey — POLL: Americans Think Inflation Is Way Higher Than It Really Is

A new Business Insider-SurveyMonkey Audience poll has found that Americans know shockingly little about the budget, federal deficits and other major economic indicators....31% of respondents on our survey got the inflation rate within a point of the correct answer.

 But more often, respondents drastically overestimated inflation. 39% said the inflation rate was at least 5%.

22% thought inflation was in double digits.

On average, respondents said inflation is 32%. That number is skewed by a handful of respondents who gave answers in the three and four figures, contending that we are already experiencing Weimar-style hyperinflation....

The Cleveland Fed surveyed 20,000 people between 1998 and 2001 and learned that on average Americans thought inflation was 6%. Over that period, the actual average inflation rate was 2.7%.

Business Insider
POLL: Americans Think Inflation Is Way Higher Than It Really Is
Walter Hickey

Entirely understandable since the most volatile prices that are factored out of CPI are the one that people notice most. But still, pretty ignorant. And some people are clearly bonkers.