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Pastimes : Book Nook -- Ignore unavailable to you. Want to Upgrade?

To: Don Lloyd who wrote (65)	3/25/2001 9:00:59 PM
From: Ilaine	Read Replies (1) \| Respond to of 443

OK, forget value, and concentrate on day to day reality. Money can't be gold. Here are some of the things you need to be able to do with money: 1) Carry it in your wallet. 2) Get it out of an ATM. 3) Mail it or in some other way physically transfer it to someone else via unknown third parties who may or may not be trustworthy. 4) Transfer it instantaneously from one point in the globe to another by electronic means. Cash satisfies 1 and 2. Checks satisfy 3. Electronic credits and debits satisfy 4. Money used to be gold but it was kept in bank vaults because you can't carry it around all the time and it's not safe to leave your entire net worth lying around on your dresser. Bankers gave you a receipt and the receipts became money. That's leaving out the history of cowrie shells and salt. -g- Seriously, money has always been a medium of exchange. Gold backed money was always only a part of the entire world of money. Time for the Sopranos, gotta run.