As we discussed in last month Monetary Watch , the recent acceleration in uncovered money substitutes is no longer just about depositors liquidating time and other term deposits in favor of instantly redeemable demand and savings deposits (in Austrian speak, bank depositors liquidating credit claims, raising cash, then depositing and holding that cash in money substitute form with those same banks).

FORBES: Headline Monetary Aggregates for September

Communities facing this problem have traditionally resorted to "scrip, " a money substitute in the form of tokens, certificates, even clamshells or buckskin to trade for goods.

FORBES: Magazine Article

They are generally less sweet than sucrose (table sugar), so they are often mixed with very sweet artificial sweeteners like aspartame, sucralose and acesulfame potassium, to form a palatable substitute in low sugar, low carbohydrate, and diabetic or "diet" products.

CNN: Is no-sugar ice cream really a healthier alternative?

We want to hear that Facebook can substitute for the marriages we don't form, and that friends and pets provide more gratification than the children we don't have.

CNN: What we don't know about love and loneliness

But none of his esoteric knowledge could substitute for the multidimensional grasp of space and form and the strength and clarity with which the tensions and relationships of structure and style are expressed that are the architect's innate, creative genius.

WSJ: Philip Johnson: Short of Attention Span, Long on Aesthetics

But Byron Brauchli has turned the idea of elegance on its head, and used this fine form (albeit with palladium, a close platinum substitute) to depict illegal logging in Mexico in 1993, with billowing smoke and trees shown in sharp relief.

ECONOMIST: The daguerreotype is back

Unfortunately for Tom Johnson, after three years of trying to grow any form of facial hair, he has been resigned to use the dreaded marker pen as a substitute.

BBC: Clive Stuart-Smith column