[esbio]

> You mean other than in jewelry and electronics?

Again, it's perceived and agreed value. Gold is valuable because we decided it is. Jewels are as valuable as the fashion agrees them to be. In fact, you can find jewels worth thousands of dollars that are made of steel. Their intrinsic value for the material is a few cents.

> Even money has no value whatsoever. Money is a promise from a government to grant some goods or services. I think you are using a strange definition of "no value".

What I mean is that the value is just what the system agrees on. If the system decides that the US are insolvent, or can't back their currency (which is a _promise_ to deliver) its value goes down, potentially to the value of the paper it's printed on.

In the end, the value of something depends on what people agree it's backing in terms of goods and services. It's an agreement, a child's game among adults, and can change in a whim.