ANSWERS: 2
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As in physically how? The keep the item secure and absorb shock that otherwise may be transferred to the item (and then breking the item) if they were not present.
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Well, you see, they are quite soft and squishy. Therefore, as the theory goes, you put them in a box around something that wouldn't take kindly to banging, bashing, bouncing, or any of the other injustices heaped upon mail, and the peanuts will provide a soft barrier of protection.
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