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Maybe for some, but not for the majority. I don't view my dollars as assets. I view my dollars as a way to get goods and services (mostly as a way to pay bills)
by tcmart14 5y ago
Maybe for some, but not for the majority. I don't view my dollars as assets. I view my dollars as a way to get goods and services (mostly as a way to pay bills). I don't hold on to dollars if I expect the value to rise (I don't really have a choice), like most people, I live paycheck to paycheck paying for a roof over the heads of my kids and food in their bellies.
The only people I know who "hold" fiat currency either are ridiculously rich, are single with no serious responsibilities or when I was in the Navy, there was scheme thing going around that to get rich quick enough to get out the Navy and fuck off for the rest of days, day trade foreign currency (didn't really work out for anyone).
- PikachuEXE 5y agoThat's due to you are valuing "goods and services" higher than your dollars. (Certain amount of it not all of it) Unless you spent every dollar or convert all remaining dollars into something else, you are holding those dollars. And some "convert all remaining dollars into something else" actions are sometimes called "investment".