[13059] in Cypherpunks
Re: The Value of Money
daemon@ATHENA.MIT.EDU (Lefty)
Wed May 4 17:43:52 1994
Date: Wed, 4 May 1994 14:37:29 -0800
To: cypherpunks@toad.com
From: lefty@apple.com (Lefty)
>On Wed, 4 May 1994 f_griffith@ccsvax.sfasu.edu 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.
You'll have much better luck taking them to a numismatist than to Fort
Knox. Specie notes are, to the best of my knowledge, no longer redeemable
in specie.
--
Lefty (lefty@apple.com)
C:.M:.C:., D:.O:.D:.
