5 ms·
Whose exactly is "their" assets? Assets belong to people, and they're also not broadly stored at banks.
by arcticbull 5y ago
Whose exactly is "their" assets? Assets belong to people, and they're also not broadly stored at banks.
- r00fus 5y agoFinancial instruments are assets as well. Banks handle those all the time.
- arcticbull 5y agoCurrencies aren't assets. [1] [1] https://www.commonfund.org/blog/is-currency-an-asset-class#:~:text=Currencies%20are%20not%20an%20asset,trade%20compared%20to%20another%20currency https://www.commonfund.org/blog/is-currency-an-asset-class#:....
- Kranar 5y agoOne random person's blog post is not sufficient to disqualify centuries of economic and accounting literature that has classically defined cash to be a canonical asset class. Currencies are universally listed at the top of any balance sheet, small or large company alike. https://en.wikipedia.org/wiki/Asset https://en.wikipedia.org/wiki/Asset https://en.wikipedia.org/wiki/Cash_and_cash_equivalents https://en.wikipedia.org/wiki/Cash_and_cash_equivalents
- arcticbull 5y agoThat's fair, I was off base. Withdrawn, but I'll leave it up so folks understand what you're replying to. Thanks for the correction!