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Re: The Value of Money

>I understand this much:  there is some gold and other actual metal 
>located in a vault, sitting there as a symbolic standard of wealth, 
>worth, value.  Everyone stakes a claim to it, and they exchange that 
>claim to others in substitution for something else (dog, rifle, gas in 
>the car, baby-sitting).  


Actually, there is no connection between the gold and our money.  I.e.
you cannot take US $ to Fort Knox (or any other government location) and
get gold for it.

This is why some posters have referred to "fiat money" - the $ is money
because the government says it is.