Booms, Busts, and Recoveries Message Board

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Strategies & Market Trends : Booms, Busts, and Recoveries

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To: smolejv@gmx.net who wrote (21091)	7/13/2002 12:15:48 AM
From: Maurice Winn	Read Replies (2) of 74559

<<I'd have had to keep cash on the side, which is of course borrowing - cash is just a debt...<< <Huh?! If you could not borrow, you would need to have cash... - whose cash? - If it's your own cash, it's called savings.> By that I mean money is an IOU, by the community to the person holding the cash. A greenback from Greenspan is just as much a debt as any other. People forget that money is just a debt and a debt is a promise to do something for somebody else and promises get broken, which is why there should NOT be a premium on shares instead of cash. Shares are a promise of community stability and continued value of assets and ownership of those assets, which is easier for a government to promise than continued value of a paper promise called money. Mq

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