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I think its a stretch to say that the US gov will decide USD is worthless. So the expected intrinsic value is as he stated, the power of the US government to le

I think its a stretch to say that the US gov will decide USD is worthless. So the expected intrinsic value is as he stated, the power of the US government to levy taxes. I would also include the domination of the USD in oil trade as another intrinsic value.

paulgb 9y ago
Intrinsic value is a term with specific meaning going back to the days of commodity money. I don't disagree with your point, but by definition the things you mention are not intrinsic value in the monetary theory sense.