The point is that, unlike gold, dollar (or any fiat currency for that matter) has no intrinsic value, only the value we give it in our minds as average of our g

The point is that, unlike gold, dollar (or any fiat currency for that matter) has no intrinsic value, only the value we give it in our minds as average of our greed and fear. Exercise for the reader: take a look at this plot [1] and this plot [2] and guess which year US government stopped using gold standard for dollar. [1] http://stooq.pl/q/?s=xauusd&c=100y&t=l&a=lg&b=0 http://stooq.pl/q/?s=xauusd&c=100y&t=l&a=lg&b=0 [2] http://static4.businessinsider.com/image/50e77df8ecad049b56000004-1044-732/screen%20shot%202013-01-04%20at%208.09.14%20pm.png http://static4.businessinsider.com/image/50e77df8ecad049b560...