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
When people normally think about this they normally think about sacrificing liquidity for (hopefully) high-yield investments, etc.
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Replying to @nouswaves
@sebinsua interesting - sacrificing liquidity for security!1 reply 0 retweets 0 likes -
Replying to @sarahdoingthing
@sebinsua (but in a different sense of security)1 reply 0 retweets 0 likes -
Replying to @sarahdoingthing
@sarahdoingthing I've been having this crisis (played out on twitter yesterday) with "having money but without necessary access rights."1 reply 0 retweets 0 likes -
Replying to @nouswaves
@sarahdoingthing And it made me think about how different forms of money are sometimes locked-down in important ways.1 reply 0 retweets 1 like
@sebinsua Indeed, I remember - glad your misfortune translated into interesting insights!
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