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Re: The Value of Money
On Wed, 4 May 1994 [email protected] wrote:
> 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.
Unless of course you have a $ bill that is a specie note. I have a few ten
dollar bills that state that they are redeemable for specie.