Friends Kingdom: Re: [iPad] How Apple's Trojan horse will eat the credit card industry

In NZ, Money Supply is M1, M2, M3, simplistically cash and credit. Money Supply has to be controlled, so the banks can only lend to a certain percent of their deposits. We can't just create cash from nothing (although credit does exactly that, once, if it rolls over ad infintium )

Main thing is money is managed, it can't really fail if its managed. Its just a replacement for barter. Adam Smith, guns and butter etc. As long as the money is backed up by a real value thats the main thing

From: "David Smith david.smith.14916@gmail.com [iPad]" <iPad@yahoogroups.com>
To: iPad@yahoogroups.com
Sent: Tuesday, 29 December 2015 10:29 AM
Subject: Re: [iPad] How Apple's Trojan horse will eat the credit card industry

I confess that money is a mystery to me.

I understand the concepts, more or less, but I've not become comfortable with them. It's like the difference between knowing that this iPhone is just an assemblage of atoms and being comfortable with the notion. Tge phone feels solid, and that's where my comfort lies. I understand that credit and dollar bills are not money - sort of - but they feel real to me.

On Dec 28, 2015, at 4:20 PM, Tony tdale@xtra.co.nz [iPad] <iPad@yahoogroups.com> wrote:

In my country, cash is legal tender, which means the Govt of the day promises to honour it. So it has value, that others can rely on. Its also backed up by real reserves, gold, etc. Notes are one part of the money supply, credit is another part. Banks have limits on credit. A bitcoin type of operation operates outside the official money supply, which is a concern.

From: "ofwah@yahoo.com [iPad]" <iPad@yahoogroups.com>
To: iPad@yahoogroups.com
Sent: Tuesday, 29 December 2015 7:15 AM
Subject: Re: [iPad] How Apple's Trojan horse will eat the credit card industry

As an aside to the conversation I would just like to point out that is all the greenbacks in your wallet are. They are Federal Reserve NOTES, not actual money.

---In iPad@yahoogroups.com, <tdale@...> wrote :

, it is money that has no real value, just the hope that others give it of they accept it.