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

To: Hawkmoon who wrote (10)	8/22/1999 4:51:00 PM
From: long-gone	Read Replies (1) \| Respond to 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-by money may Not be a SOV and a SOV may Not be money. The Baht is money, but has proven to be a less than great SOV. If taken in the longer term so follows the Pound Sterling, and even US$. My my, this is getting to be fun. Now, based on history, what has shown the best traits of both money and a SOV?

To: Hawkmoon who wrote (10)	8/22/1999 6:08:00 PM
From: goldsheet	Read Replies (1) \| Respond to 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?"

To: Hawkmoon who wrote (10)	8/22/1999 7:04:00 PM
From: goldsheet	Read Replies (1) \| Respond to of 29

I was looking for a definition of money at dismal.com and came across an essay "Commodities Fall Short" dismal.com This paragraph caught my attention: "To be an effective store of value and thus a good indicator of asset price inflation, a commodity market must be characterized by stable supply and demand conditions. Low volatility of demand over the short-term and moderate growth in supply productivity over the long-term is desirable. No significant commodity market has met these conditions over the past twenty years"