1994-05-04 - Re: The Value of Money

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From: Llywelyn <samman@CS.YALE.EDU>
To: cypherpunks@toad.com
Message Hash: 24c3dc8a54e4297b0690b576088dd3ba4de3f7ba9aa07ab1f5edf3c995ff1791
Message ID: <Pine.3.07.9405041713.U24376-a100000@jaguar.zoo.cs.yale.edu>
Reply To: <9405042050.AA03767@toad.com>
UTC Datetime: 1994-05-04 21:25:53 UTC
Raw Date: Wed, 4 May 94 14:25:53 PDT

Raw message

From: Llywelyn <samman@CS.YALE.EDU>
Date: Wed, 4 May 94 14:25:53 PDT
To: cypherpunks@toad.com
Subject: Re: The Value of Money
In-Reply-To: <9405042050.AA03767@toad.com>
Message-ID: <Pine.3.07.9405041713.U24376-a100000@jaguar.zoo.cs.yale.edu>
MIME-Version: 1.0
Content-Type: text/plain

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.
>                               Reynolds

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.