That's not true at all.  It seems too many people who post on these lists, do so under the pretense of understanding economic theories.


Gold has an "inherent" value, not because other people value it as a medium of exchange or a store of value, (a currency) but because it has real utility outside of this context.  Gold is used in many products that *require* it, and would be used in many more if not for the monetary premium that the desires of all of the people who desire it for it's currency uses.  Gold is, in fact, less abundant in our modern world in an "above ground" refined state than silver.  Silver, however, is not prized (by enough people) for it's properties as a currency.  So it's value is much closer to it's value for it's industrial uses, for which there are many. 

And are you are seriously going to claim that a can of soup or a can of soda doesn't have an 'inherent' value?