One of the most alarming parts about teaching is when my students ask really good, insightful questions that make me realize I don't understand anything about what I'm trying to teach
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*ahem* Until relatively recently, American Greenbacks represented promissory notes for the gold in Fort Knox and elsewhere, i.e. "This bill entitles the bearer to one U.S. dollar's worth of gold." However, this is not the case anymore-- I know since the 1930s in most of Europe, and I want to say the 1970s here? The value of money has been decoupled from the value of gold, and is now mainly worth what it is because the government says it's worth what it is. The government promises to pay you a dollar for your piece of paper that says 'one dollar' on it, whatever that may be worth
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I knew there had to be something I'm not getting and, although that explination does not make me feel CONFIDENT, at least I sort of get it now.
Well...did you know that the Lydia coins had lions on them? Apparently, this is true. Also, somebody used to make coins shaped like dolphins! And someone else made coins that were 12 feet wide! That does not seem convenient to me!
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I knew there had to be something I'm not getting and, although that explination does not make me feel CONFIDENT, at least I sort of get it now.
Well...did you know that the Lydia coins had lions on them? Apparently, this is true. Also, somebody used to make coins shaped like dolphins! And someone else made coins that were 12 feet wide! That does not seem convenient to me!
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