Yeah, that statement suffers from an unquestioned assumption that dollars are the definitive, correct measure of value. It takes two to make a currency pair and

Yeah, that statement suffers from an unquestioned assumption that dollars are the definitive, correct measure of value. It takes two to make a currency pair and if you were to look through the lens the other way it would seem like the dollar that is wildly swinging about in value, not gold. I like the word 'value' as a signifier of what a person or people desire and ascribe worth to; both gold and fiat currencies attempt to measure this, and neither is perfect. I wish people would be more dilligent at keeping these concepts seperate, but y'know, rhetoric. (See also the idea that GDP - which of course exists completely in fiat currency terms as a gross numerical figure - has its flaws as a measure of what humans actually value: http://www.globalexchange.org/resources/econ101/gdp http://www.globalexchange.org/resources/econ101/gdp )