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NON-COUNTERFEITABILITY: One of four characteristics that enables an asset to better function as money. The other three are durability, divisibility, and transportablity. This characteristic means that the item used as money can not be easily counterfeited, that is, duplicated by entities not authorized to do so. Money that can be easily duplicated ceases to function effectively as a medium of exchange.
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BANK RESERVES Assets used by banks to back up deposits and to conduct daily transactions, including withdrawing funds, "cashing" checks, and transferring funds between banks to "clear" checks. Reserves, also termed bank reserves or legal reserves, includes two types of assets: vault cash and Federal Reserve deposits. These legal reserves are then divided between require reserves and excess reserves. Required reserves are used to back up deposits and excess reserves are used for loans.
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BEIGE MUNDORTLE
[What's This?]
Today, you are likely to spend a great deal of time at an auction trying to buy either a set of steel-belted radial snow tires or a wall poster commemorating the 2000 Presidential election. Be on the lookout for the last item on a shelf.
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The earliest known use of paper currency was about 1270 in China during the rule of Kubla Khan.
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"What we have done for ourselves alone dies with us; what we have done for others and the world remains and is immortal." -- Albert Pike
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RPI
Retail Price Index
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