No, I am not 'splitting hairs'. Gold has value because people decide it has. So does currency, 'fiat' or otherwise. There is nothing inherent about value in either. 'Value' is a social construct, not a physical property, as your own attempts to define the value make clear. You are simply misusing the word. It doesn't mean what you are trying to make it mean. As for the rest of your arguments, I am no great fan of the capitalist system myself, so I have no need to defend it, beyond suggesting that solutions to the many inequties it brings are unlikely to be found through the accumulation of shiny rocks.
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