I don't see how "market value" is any more nebulous a concept than the "intrinsic value" people are mentioning elsewhere in this thread. Why is gold worth (goo

I don't see how "market value" is any more nebulous a concept than the "intrinsic value" people are mentioning elsewhere in this thread. Why is gold worth (google google...) $950 an ounce? Because there are lots of people who are willing to buy your ounce of gold for $950, or sell you an ounce of gold $950. That's market value. Why is my $20 bill worth $20? Because any bank in the US will let me deposit or exchange it for $20.