(06-19-2017, 02:38 PM)Byron LeftTown Wrote: Fiat currency may have a current political or legal value, but that is separate from its inherent value.  The inherent value is what you are left with when the political or legal system goes away.

The rock has value because it is rare and has certain properties humans find valuable - shiny, conductive, malleable, ductile, etc.  It also holds these properties through time, which makes it useful as a storage of wealth.  If all governments went away tomorrow, the rock would still have value.

Not as much as food, water, or dare I say even bullets. Gold has many industrial and cosmetic uses, but in a more primitive society I will take food, water, land and arms, i.e. what the Constitution tried to protect for everyone. I think they had it right.

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(06-19-2017, 02:02 PM)flsprtsgod Wrote:

(06-19-2017, 01:43 PM)HandsomeRob86 Wrote: Correct, but even hard currency like gold is just metal that has a pretty color and physical properties that we like. Commodities are the real value, control the food and water and everything else will come to you.

Very similar to religion, ie my sacred text is the Word of God while yours is just a fairy tale. My tangible embodiment of value is acceptable while yours is just a piece of paper.

I agree. There are things at the very bottom of the hierarchy of needs, and gold or paper aren't among them.

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