3) Gold was valuable but not ‘money’. But did not require refinement. And too expensive for use as money. So it was just a commodity. Silver required refinement. The first money was electrum. But any metal will do.
Source date (UTC): 2020-12-06 17:27:35 UTC
Original post: https://twitter.com/i/web/status/1335637021763776516
Replying to: https://twitter.com/i/web/status/1335637020710940677
IN REPLY TO:
Unknown author
2) … re-trade-markable (melt, re-stamp), standard of weight and measure -THEREFORE STATES CAN PAY SOLDIERS.
And states can construct, defend, tax, and regulate MARKETS.
And POLITIES can increase economic velocity (reduce friction) by converting agricultural goods to money.
Original post: https://x.com/i/web/status/1335637020710940677
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