  In this paper, we reveal the depreciation mechanism of representative money
(banknotes) from the perspective of logistics warehousing costs. Although it
has long been the dream of economists to stabilize the buying power of the
monetary units, the goal we have honest money always broken since the central
bank depreciate the currency without limit. From the point of view of modern
logistics, the key functions of money are the store of value and low logistics
(circulation and warehouse) cost. Although commodity money (such as gold and
silver) has the advantages of a wealth store, its disadvantage is the high
logistics cost. In comparison to commodity money, credit currency and digital
currency cannot protect wealth from loss over a long period while their
logistics costs are negligible. We proved that there is not such honest money
from the perspective of logistics costs, which is both the store of value like
precious metal and without logistics costs in circulation like digital
currency. The reason hidden in the back of the depreciation of banknotes is the
black hole of storage charge of the anchor overtime after digitizing commodity
money. Accordingly, it is not difficult to infer the inevitable collapse of the
Bretton woods system. Therefore, we introduce a brand-new currency named honest
devalued stable-coin and built a attenuation model of intrinsic value of the
honest money based on the change mechanism of storage cost of anchor assets,
like gold, which will lay the theoretical foundation for a stable monetary
system.
