What do gold and money have to do with each other?

What do gold and money have to do with each other? Here are some quick facts about gold: It is quite scarce; it has a high value for small amounts and is enough to go around; all the gold EVER mined weighs approximately 171 thousand tons; and at today’s current price, gold is worth approximately $1,346.60 per ounce in USD. Here is a cool picture that explains gold and currency even more, and why currency is worth something.

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