> metals and other materials that possess intrinsic value. What role do you believe intrinsic value plays? Intrinsic value is useful if you're trying to "peg"

> metals and other materials that possess intrinsic value. What role do you believe intrinsic value plays? Intrinsic value is useful if you're trying to "peg" a currency to some other measure of wealth. But that only works for relatively small markets. Currencies are a representation of wealth in a society. The wealth in a society is necessarily greater than that of any single asset. As such, the value of a currency based on an asset must be surplus to any supposed intrinsic value that asset has. This means intrinsic value serves no direct useful purpose for a currency - at best, it's a secondary consequence of some more important property, such as scarcity.