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Then why is my employer paying me with it? Why do savings accounts exist at the bank? Are we supposed to go out and buy bonds and gamble on stocks when we recei
by cheeseomlit 7y ago
Then why is my employer paying me with it? Why do savings accounts exist at the bank? Are we supposed to go out and buy bonds and gamble on stocks when we receive a paycheck? Maybe the stuff we use for currency shouldn't be printed out of thin air and have no inherent value
- selectodude 7y agoNot all of it, but sitting on cash is not smart. Cash is for very short term spending. It’s not a long term store of wealth. It never has been. Currencies that become a store of wealth inevitably fail. Source: actual real life economist.
- ryacko 7y agoCash is for liquidity. I don’t know what you define as very short term, but emergency funds should be in cash, so should money set aside that is meant to be spent in a few months.