Re: Money As Debt
Capital, money, cash, liquidity.
These are different and ordered descending in terms of value.
The value of fiat money depends on the credit given in its future value.
The value of cash depends on the availability of cash.
Liquidity is a derivative of money.
Only capital is not debt.
Banks don't lack liquidity and don't lack cash, they lack capital.
So when we are about deleveraging, we are about draining liquidity and hoarding cash thus cash eventually becomes capital - when main street is
A brilliant idea: US treasury defaults on treasuries.