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I'm specifically asking about a text link that points back to your home page, not a footer full of spammy links.

Hey Mozers,

My first post here, I look forward to contributing what I learn and collecting knowledge branches (github joke) from you all.

How valuable is a text link in the footer template to your home page (root)?

My guess would be that it sends the on page link juice back to the home page. I don't believe this link should use keywords though (post penguin world).

I realize we should have a pyramid architecture (http://www.seomoz.org/blog/internal-linking-strategies-for-2012-and-beyond) but should every page link back to the homage page? What variables does this effect?