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I understand currency and shares are not the same thing, I don't understand this addresses OP. > A share, meanwhile, is a direct claim on things themselves. Wh
by smokeyj 15y ago
I understand currency and shares are not the same thing, I don't understand this addresses OP.
> A share, meanwhile, is a direct claim on things themselves.
What if you buy a share of an ETF?
- tg3 15y agoA share of an ETF is a claim on a financial asset that is backed by claims in other financial assets, usually stocks. So while it is one level higher than directly owning securities, it is still a claim on productive economic assets.
- smokeyj 15y agoFor the sake of preventing a tautological melt-down could you define "securities"?