this post was submitted on 06 Aug 2023
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Today I Learned (TIL)
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You see, the problem with your argument is that stock isn’t money, it’s an asset. While you can call the asset itself bogus, the money backing it is ‘real’; that’s why entire life savings can be wiped out if the market suddenly goes ‘kaput’.
So you are also saying that stocks are not real dollars. Glad we agree.
Stocks aren’t money to begin with, they’re an asset class. The money invested in stocks is as real as any other dollar though.