There is a bit of storage in there somewhere - but the original variable binding isn't.
I agree, it's not the original¹ That's why I said in my original reply to broquaint, "It makes sense, however, to think of it as a closure that is created on the first entry into the bare block via the goto" (original emphasis).
That's what I was trying to say.
You're kidding me! You mean we've been saying the same thing this whole time? ;-)
Actually, PadWalker suggests it is the original storage space but that it gets reinitialized to undef.
"My two cents aren't worth a dime.";