From: lefty@apple.com (Lefty)
Date: Wed, 4 May 94 14:38:46 PDT
To: cypherpunks@toad.com
Subject: Re: The Value of Money
Message-ID: <9405042137.AA18064@internal.apple.com>
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.
>
>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:.