Trying to explain to family and friends that “dollars in bank account” ≠ “dollars you have.” And that’s very hard to do.
Dollars in a bank’s possession is a promise for dollars. Not actual dollars you actually have. And even those are a promise on money backed by credit and faith, not actual money.
Dollars in a bank’s possession is a promise for dollars. Not actual dollars you actually have. And even those are a promise on money backed by credit and faith, not actual money.
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