European Tribune - Comments - So should we all be scared of Turkey's energy weapon, now?

So should we all be scared of Turkey's energy weapon, now? | 73 comments (73 topical, 0 editorial, 0 hidden)

Re: we're talking about different things (none / 0)

Yup.

A banknote is undated, too: it's just that it is redeemable for....errrr....another banknote.

"Any economic unit can emit money. The serious problem is to get it accepted" Hyman Minsky

by ChrisCook (cojockathotmaildotcom) on Mon Oct 5th, 2009 at 06:41:40 AM EST
[ Parent ]

Re: we're talking about different things (4.00 / 2)

Unless it's used by someone to pay a debt to the Central Bank, at which point it could be taken out of circulation.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Mon Oct 5th, 2009 at 06:57:34 AM EST
[ Parent ]

Re: we're talking about different things (none / 1)

Technically - or not so technically, in reality - it's redeemable as a promise, and the faith that someone else will honour the promise.

Money is just a ritualised IOU.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Oct 5th, 2009 at 07:57:16 AM EST
[ Parent ]

Re: we're talking about different things (4.00 / 2)

ThatBritGuy:

Money is just a ritualised IOU.

Money is whatever the government will accept/demand in payment of taxes. You could make cow dung valuable if you decreed you would collect taxes by weight of manure.

En un viejo país ineficiente, algo así como España entre dos guerras civiles, poseer una casa y poca hacienda y memoria ninguna. -- Gil de Biedma

by Migeru (migeru at eurotrib dot com) on Mon Oct 5th, 2009 at 08:51:43 AM EST
[ Parent ]

Re: we're talking about different things (none / 1)

Migeru:

collect taxes by weight of manure.

Best description of a market economy ever.

by ThatBritGuy (thatbritguy (at) googlemail.com) on Mon Oct 5th, 2009 at 11:29:48 AM EST
[ Parent ]

So should we all be scared of Turkey's energy weapon, now? | 73 comments (73 topical, 0 editorial, 0 hidden)

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