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To: LonePalm

Crude Oil would seem to work fairly well as money...


12 posted on 03/18/2017 2:34:14 PM PDT by Paladin2 (No spellcheck. It's too much work to undo the auto wrong word substitution on mobile devices.)
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To: Paladin2
It would if it were easy for people to store and spend.

How much crude oil would I need to give Walmart for my cart of groceries? Would they accept it? Would YOU accept it?

Test number 1 is where crude oil fails as a form of money. While, yes, it has value to some people, it can be used as a store of value and a means of accounting, it fails the general acceptability test.

"Ceterum censeo Islam esse delendam."

Garde la Foi, mes amis! Nous nous sommes les sauveurs de la République! Maintenant et Toujours!
(Keep the Faith, my friends! We are the saviors of the Republic! Now and Forever!)

LonePalm, le Républicain du verre cassé (The Broken Glass Republican)

21 posted on 03/18/2017 2:41:57 PM PDT by LonePalm (Commander and Chef)
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To: Paladin2

True but walking around with a drum in your pants isn’t comfortable. ;-)


47 posted on 03/19/2017 5:02:07 AM PDT by mad_as_he$$
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