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"Everyone knows what a horse is"
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A collection of some classic Lemmy memes for your enjoyment
https://youtu.be/lADTLozKm0I?si=pKQ8Dwt7wriapdni
Seems pretty convincing and matches gold bracelets made in the era.
I've actually seen an old lady knit gloves with one as well.
This is, by far, the most compelling theory I've seen.
Given that those things were so common, I wouldn't be surprised if some of the other uses people have theorized could have happened too.