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Non-Tech : Monetary Policy and Standards -- Ignore unavailable to you. Want to Upgrade?

To: Hawkmoon who wrote (7)	8/22/1999 2:17:00 PM
From: goldsheet	Read Replies (1) \| Respond to of 29

"Money is anything that is widely used for making payments and accounting for debts and credits." That's the economic textbook "medium of exchange" definition, which helps us avoid carrying around live chickens, grain, and other thing required for barter transactions. In addition, I mentioned: fungible adj : (law) of goods or commodities; freely exchangeable for or replaceable by another of like nature or kind in the satisfaction of an obligation divisible \Divis"ible\, a. [L. divisibilis, fr. dividere: cf. F. divisible. See Divide.] Capable of being divided or separated. Store of value (don't have dictionary definition) - ability to retain value over time. Perishable goods (food, grain, livestock, etc..) would not be good as money.

To: Hawkmoon who wrote (7)	8/22/1999 2:19:00 PM
From: goldsheet	Respond to of 29

Here's another excellent site; Monetary History of the World - Martin Armstrong peicommerce.com "It is almost impossible to define money in terms of its physical form or properties due to the fact that money has evolved from a variety of items in different parts of the globe. Money is anything that can be widely used for the purpose of making payments and permitting the accounting for debts and credits. Money itself has been a by-product of necessity that emerged from the interaction of human beings. Thus the need to interact between individuals or communities, (be it to pay tributes, engage in trade, dowry resulting from a marriage contract, ceremonial, religious rites or commerce, etc.) has been the very mother of necessity for the birth of money as a medium of exchange. In essence, money is the physical language within a transaction in much the same manner as speech facilitates the emotional and intellectual communications within society." Bob Johnson goldsheet.simplenet.com