Been warning you about these paper promises, for a minute.
The write-ups are different, but the video is the same.
City To Firefighter and Police Retirees: Give Up 50% Of Your Pension Or Risk Losing It All
So, there we have it, gold isn't money (at least according to Ben Shyster Bernanke*) and soon your retirement fund won't be money, either.
*BTW, didn't Shyster Bernanke say the subprime problem wouldn't spread into the rest of the housing market?