Originally,
The first “medium of exchange” was trust between humans.
The “double coincidence of wants” was solved because you lived and worked together to acquire the things you both wanted.
The “unit of account” was your gratitude and feeling of indebtedness you felt to your close relationships.
The “store of value”, was your culture and knowledge.
The “inflation” was the rate of decomposition
100%, very well said.
That is also the central thesis of Graeber's "Debt: the first 5000 years", which some Nostriches may not have read:
https://annas-archive.org/slow_download/53d5b8c03c02793750fc36fe983143dd/0/2
Thanks for pointing out the book, I haven’t read it but recently came to the evidence of this as a fact, no doubt a derivative of his book. While previous to that I just knew from of philosophical sense that the feeling you owe someone for a gift, being ingrained to the human condition, must have occurred before anything else. The concept that formal debt systems appear to have predated formal money systems is icing on the cake.
🫡
they won't read it because they are Saifedean disciples
