Nothing really has intrinsic value, not even gold, silver or diamonds. They have value because people desired them (initially for their beauty and /or utility). Now they have value because they have value. How is this critical mass of sentiment in favour of hard assets different to that for Dollar, Euro or Pound notes, or even just numbers in a banking system?They have value because a critical mass of people decided they have value. http://amplify.com/u/fmft