Money: gold or fiat.

Balkinization has an enlightening article on money.

Gold standard is, conceptually, no different than fiat.  Both are based on perceived value.  Neither have intrinsic value.  If anything, fiat is more utilitarian because it is backed by all of the nation’s goods and services, rather than just one commodity.  Still, the debate is a valid one, and one that we SHOULD be having.

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