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PAPER ECONOMY: Markets, exchanges, and assorted economic activity that deal with legal or paper claims on physical assets rather than the physical assets. The vast majority of activities for the paper economy take place through financial markets. The paper (or financial) economy is based legal claims on these physical goods and resources. The term paper economy is used because these legal claims historically have been pieces of paper--paper that you can't eat, wear, or live in to satisfy wants and needs. However, as technology progresses, much of the paper is giving way to electronic data storage.
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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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BLACK DISMALAPOD
[What's This?]
Today, you are likely to spend a great deal of time flipping through the yellow pages hoping to buy either a pleather CD case or a how-to book on fine dining. Be on the lookout for spoiled cheese hiding under your bed hatching conspiracies against humanity.
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A half gallon milk jug holds about $50 in pennies.
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"I not only use all the brains that I have, but all that I can borrow. " -- Woodrow Wilson, 28th US president
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