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To: expatriot;all
Why not the dollar, the optic, the seashell, silver, diamonds, or dust bunnies?

"What medium of exchange will be acceptable to all participants in an economy is not determined arbitrarily. First, the medium of exchange should be durable. In a primitive society of meager wealth, wheat might be sufficiently durable to serve as a medium, since all exchanges would occur only during and immediately after the harvest, leaving no value-surplus to store. But where store-of-value considerations are important, as they are in richer, more civilized societies, the medium of exchange must be a durable commodity, usually a metal. A metal is generally chosen because it is homogeneous and divisible: every unit is the same as every other and it can be blended or formed in any quantity. Precious jewels, for example, are neither homogeneous nor divisible."

The Gold Standard, A Breakdown by Alan Greenspan

13 posted on 03/11/2002 4:41:24 PM PST by Orion78
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