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To: Amark$p who wrote (26923)	12/27/2007 9:54:45 PM
From: elmatador	Read Replies (1) \| Respond to of 218200

To ascribe value to something, say a material, that material must reflect the amount of value you ascribed to it. If you have a thousand acres of land, you can ascribe value to it by saying it can raise 400 cows that produce milk and meat. That means the value ascribed can be extracted back from that asset. What has happened is that people ascribed value just to use that material as a gauge or a thermometer to measure value. Per se the material is useless. It is only to be used as measure of value. Not as an intrinsic value. Gold is this thermometer to measure value. The USD today is just this thermometer too. I can be hired for a year and agree that my value is x in USD. Thus monetizing my work. But that USD is now parked in Brazil as I demonetized the USD and have a physical asset in Brazil. Therefore the USD was used just to move money across borders. Per se, I have no practical use for the USD.