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Re: (OPE-L) On the mango theory of money

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Gerald A. Levy wrote:

1) Put some "mango-money" in your back pack.

2) A month later, open your back pack and
  remove the "mango money".

Oops.  Where is the "mango-money"?  Is it
that squishy stuff  (without value) at the bottom of
the back pack or is it that stain?

Now, had one put a 'silver' dollar or a Federal Reserve
Note in one's back pack then -- in the ordinary
course of events -- one could open the back pack
after a month and still find the money that one put in
it and be able to then use it as money.

Money must serve as a store of value.  Unless it
can store value it can not be held for future purchases.
Nor can it serve as an instrument of hoarding.

In solidarity, Jerry




The mystery is solved when one realises that money is not a substance
but a technology of record.

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