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Strategies & Market Trends : ahhaha's ahs -- Ignore unavailable to you. Want to Upgrade?

To: grusum who wrote (22854)	4/8/2013 8:44:50 AM
From: ahhaha	Read Replies (1) \| Respond to of 24758

but i don't think reserves have value until they're lent out. lending them out at some interest rate Correct. imbues the paper with money. Don't use the term "paper". in other words, money gives the currency value. Don't use the term "currency". Currency is merely a form of money whose value domestically is identical with all other non time forms of domestic money. That isn't true on the international front. that's what i think ahhaha meant when he said they don't have value until they get in someone's hands. True. There's a categorical difference between commerce and the parallel abstract world of its representation in the forms of money. I can't eat bank reserves, and I have to reify money by transacting it with goods which I can eat. A great deal of error is made when an a priori assumption is tacitly made that money = worth.