Something surprising about money is that it has different qualities depending on its quantity and medium or storage.
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Replying to @nouswaves
Non-intuitive for me, maybe obvious for those that are from finance, etc.
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Replying to @nouswaves
*Obviously* cash is "liquid" but try using it to pay for something very expensive that requires credit checks and paper trails.
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Replying to @nouswaves
And clearly cards are useful because they're widely accepted for small and large purchases. But the bank now has a liquidity on-off switch.
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Replying to @nouswaves
That high utility item can become a low utility item at somebody else's command.
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Replying to @nouswaves
@sebinsua ppl are drawn to things like gold bc they see this is how fiat currency works but don't yet get that this is how *money* works1 reply 0 retweets 0 likes -
Replying to @schakalsynthetc
@sebinsua & think there just has to be some kind of "sound" money out there that's immune to soverign & institutional risk. nope.1 reply 0 retweets 1 like -
Replying to @schakalsynthetc
@schakalsynthetc Yes. True. Funny how things that appear so simple on the surface can be complex, mutable and manipulatable underneath.1 reply 0 retweets 0 likes
@schakalsynthetc If I wanted to conspire against the world I would hide all of this from them...!
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