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Non-Tech : Monetary Policy and Standards
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To: Hawkmoon who wrote (10)8/22/1999 6:08:00 PM
From: goldsheet  Read Replies (1) of 29
 
> This is why I personally draw a distinction between SOVs and money.
> A true SOV is anything which will see continued and constant
> demand and remain in limited supply.

There is a indeed a distinction. Something that is a "store of value" doesn't make it money, but to be money "store of value" is one of the required characteristics.

Also, I am using a strict economic textbook definition of "store of value" It doesn't mean that it keeps its value relative to inflation, but keeps its integrity. Bury 100 ounces of gold, you will find 100 ounces of gold a thousands years from now. Bury 100 ounces of cheese and you don't want to dig it up a thousand years from now ;)

How about this mathematical Boolean definition ?

MONEY = "scarce" AND "store of value" AND "divisible" AND "fungible"

Those four characteristics eliminate thousands of items, but does it lead it to "things that can be used as money" OR "things that are money" The semantics of the language used become as debatable as the original question - "what is money?"
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