Although I should add: the Mises assertion is not entirely convincing to me.
I am convinced that any amount of divisible money could encode any amount of economic activity if it were properly distributed. I think that, in practice, the diffusion of money after a large enough deflationary jolt could prompt a wholesale replacement of that money in favor of another candidate money. I've mentioned this issue before from the perspective of the other direction (unequal distribution.)
My soul is not balmed on this point, but you can't have everything.
It sounds like you've received Mises' insight second or third-hand then. There are of course many caveats to it, but the argument was exactly along the lines of your statement.
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