First published by Money Metals here: https://www.moneymetals.com/news/2020/10/29/when-fiats-fail-precious-metals-prevail-002153

There are two theories of money. The first is that it should have intrinsic value, something people can hold, knowing that it has value in and of itself. The second is that it is lawful; that usually a government or King, mandates that their creation can be used to pay for all goods and services.