(OPE-L) Re: recent references on 'problem' of money commodity?

From: Gerald_A_Levy@MSN.COM
Date: Fri Nov 19 2004 - 11:16:32 EST

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> I don't see how gold can function today as the measure of value.
> In order to function as the measure of value, gold has to be the GENERAL
> EQUIVALENT, i.e. has to be DIRECTLY EXCHANGEABLE into all other
> commodities.

Fred,

I made basically the same point in a satirical post I wrote on June 9
called "Shopping with Claus":
http://ricardo.ecn.wfu.edu/~cottrell/ope/archive/0406/0176.html
You should look at Claus's reply:
http://ricardo.ecn.wfu.edu/~cottrell/ope/archive/0406/0200.html

I'm afraid that Claus replied as I was leaving for the summer so I
don't think I replied to him yet. Sorry, Claus.

In solidarity, Jerry

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