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To: LLCF who wrote (4508)	6/8/2001 9:48:53 AM
From: Ilaine	Respond to of 74559

Man, are you dense. The example I gave was similar to Jay's, only not as well written. He described using coconuts as commodity money, and according to him, as the number of coconuts increased, the monkeys started using paper coconuts to keep track rather than trading actual coconuts. I said that as the population increased, and the number of houses increased, people started using IOUs, which circulated as if they were money. Jay and I were describing the same process, DAK. I realize he did a much better job of explaining it, but I think the fact that I tick you off has something to do with your not getting what I said, and getting nasty about it. Is there a real world example of a system where the units of exchange, whatever they are, were not allowed to increase? No, because that's not what people do. They use IOUs, paper coconuts, credits, cigarettes, cowrie shells, checks, whatever, and treat it as if it were money, and so it is, IMO.