Subject:
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Re: All The Money In The World
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Newsgroups:
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lugnet.off-topic.fun
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Date:
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Thu, 21 Dec 2000 17:17:49 GMT
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Viewed:
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196 times
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In lugnet.off-topic.fun, Dave Schuler writes:
> Does that include the time between the purchase of the money order and its
> cashing? During that time it seems that there is $10 more in
> circulation--not actual, minted coinage, but legal tender nonetheless.
Yes it includes the time, but that money order you've got in your hand is
simply "valued at" property. The money order itself is not actual money. One
might say, however that you've increased the amount of VALUE in the town
temporarily, but not the amount of MONEY.
Here's another way you might look at it. Let's say I go to the town dump. I
pick out some old trash and put in some long hours, turning into something
now valuable (some new-fangled gadget or maybe modern art or something). Now
I can sell it for lots of money that it wasn't worth before. It's more
obvious in this case (I think) that the amount of money hasn't increased,
but VALUE has.
In our little example with the money order, the post office took your $10.50
and turned one of their previously blank little slips (VALUED at nothing)
into a little slip VALUED at $10. But it's just value. If for some reason
you kept it until the post office went bankrupt or something, it's no longer
worth the $10 because you can't cash it. It's now worthless-- it's not real
money. However, because it was a money order, it's easy to place an exact
value on (unlike the modern art sculpture from trash), so it SEEMS more like
money. I'd say no, however. You've increased the in-reality non-tangible
value in the town temporarily.
DaveE
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Message is in Reply To:
 | | Re: All The Money In The World
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| (...) Does that include the time between the purchase of the money order and its cashing? During that time it seems that there is $10 more in circulation--not actual, minted coinage, but legal tender nonetheless. Dave! Still talking to himself. (24 years ago, 21-Dec-00, to lugnet.off-topic.fun)
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