Prof says gold is a bubble

nice.. guy secretly recorded prof's and TA's responses to his question. The TA claimed that gold is in a bubble (the wrong part), but yet said that there is not enough gold to go around because the price is too low (the correct part).

It's

 not that there is insufficient gold for world trade. It's that the price is too low for trade. The same is true back then towards the end of the gold standard, when ppl claimed that there isn't enough gold. Unknown to them, it's because the central banks refused to allow their currencies to depreciate vs gold (and hence let gold prices go up) as a result of money-printing, so that there will be 'enough' gold for world trade.