Recent content by vimothy

  1. vimothy

    THE ECONOMY

    right thats the standard def. but can you think of an example thats not a financial liability?
  2. vimothy

    THE ECONOMY

    its a question of wether btc can be considered money if it does not constitute a liability for anyone
  3. vimothy

    THE ECONOMY

    its not a question of private vs otherwise
  4. vimothy

    THE ECONOMY

    bond is just a debt. money can be modelled as a bond with a zero coupon payment.
  5. vimothy

    THE ECONOMY

    this situ is totally diff to crypto
  6. vimothy

    THE ECONOMY

    the point is
  7. vimothy

    THE ECONOMY

    banks *create* money
  8. vimothy

    THE ECONOMY

    so if a bank wants to increase the money supply it must increase its liabilities
  9. vimothy

    THE ECONOMY

    so what right
  10. vimothy

    THE ECONOMY

    "money" is really just a v short term bond issued by a bank
  11. vimothy

    THE ECONOMY

    and the money which it issues is essentially the same, just v short term bonds
  12. vimothy

    THE ECONOMY

    so when a bank does it, no difference
  13. vimothy

    THE ECONOMY

    right but we agree that a bond issued by a company in general has some value
  14. vimothy

    THE ECONOMY

    whats the difference between a bond issued by a bank and for eg a deposit account issued by the same bank?
  15. vimothy

    THE ECONOMY

    is this bond a liability?
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