The Value Of Money Has An Objective Regulator Only When It Is Linked To
A Real Commodity, Like Gold, Itself Requiring The Cost Of Human Labor To
Be Produced.
The value of money has an objective regulator only when it is linked to
a real commodity, like gold, itself requiring the cost of human labor to
be produced. By comparison, the value of inconvertible paper money has
no objective regulator, its marginal cost of production being nearly
zero.
-- Lewis E. Lehrman
