Valuations are subjective. Gold has not had a historic
Posted on: January 29, 2018 at 16:20:59 CT
ummmm MU
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record of money because of any intrinsic value in gold, but rather because a great many people have subjectively valued gold as money due to various important attributes.
As for your anecdote, I wonder what the indigenous people would have thought about federal reserve notes at that time?