The Value of Money

[Llywelyn]

On Wed, 4 May 1994 f_griffith at 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.

Ben.