underlying logic of financial asset prices is not solely mimetic else bubbles would never pop
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Replying to @_Vimothy_
1. Non-government controlled money is purely mimetic. 2. Bonds and stocks are not solely mimetic. 3. Mimetic theory accounts for bubble pops. Saying that it doesn't is like saying mimetic desires never lead to mimetic conflicts or the crisis event.
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Replying to @MimeticValue
1, money is just another liability with a non-pecuniary yield related to its liquidity. it's value can therefore be determined in the same way that any other asset can, after adjusting for this premium. 2, no financial asset is solely mimetic 3, how?
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Replying to @_Vimothy_ @MimeticValue
liquidity is a yield which is non-pecuniary, ie not a cash-flow. the idea basically is that for a monetary asset you forgo some return in exchange for liquidity
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Replying to @_Vimothy_
Liquidity is an attribute of money, it's what makes it possible to be a medium of exchange. Still not getting your point here.
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Replying to @MimeticValue
point is that except for this premium money is a fin asset like any other. a bank deposit for eg has an interest rate and an associated cash-flow that can easily be valued. it finances a portfolio of assets on the banks balance sheet that can also be valued. so not purely memetic
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Replying to @_Vimothy_
I don't see how it negates what I've said. Yes, banks use deposits for investments. So what?
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Replying to @MimeticValue
the value of a banks liabilities can be related to the value of its assets, so not purely memetic
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Replying to @_Vimothy_
I'm trying to understand... This is accounting. I don't see how this says anything about how the behavior of money on the market is not mimetic. How a bank manages the money internally doesn't have anything to do with money as a medium of exchange.
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Replying to @MimeticValue @_Vimothy_
Are you saying that the store of value property of money makes it not purely mimetic?
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not exactly, Im saying that financial assets/liabilities have certain properties that make them not purely mimetic and that money is a member of this group
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