Umberto Eco on Paper vs. Electronic Memory
joabj writes "Paper was itself a technology at one point, this essay
from Umberto Eco, author of "In The Name of the Rose," reminds us. Eco holds forth on the differences between paper and electronic memory. He doesn't come out in favor of either, rather he talks about the advantages each has, in technical terms. Some fascinating ideas here...."
Money (Dollars, Euro, Yen) has as much value as gold, arguably more.
As long as this abstract item can get you sometihng you want, it has value.
The reason I think a standard currency is more valuable is I can get more stuff with it.
If you try to get something electricity, a tv, a car, a hooker, they will likely require money, not a lump of metal.
Money itself has no real value, but as long as enough people accept it, it will work.
BTW, you can't "redeem" dollars for gold, the gold standard is gone, why do you think the price of it fluctuates so much?