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LEGAL RESERVES: The total amount of vault cash or Federal Reserve deposits of a bank. These are the only bank assets that can be used legally to satisfy reserve requirements.

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RESOURCE ALLOCATION

The process of distributing resources for the production of goods and services which are then distributed for the satisfaction of wants and needs and human consumption. This is also commonly referred to by the single word "allocation." The resource allocation process is an essential part of an economy's effort to address the problem of scarcity

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Today, you are likely to spend a great deal of time searching for a specialty store trying to buy either a rechargeable battery for your computer or shoe laces for your snow boots. Be on the lookout for gnomes hiding in cypress trees.
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The standard "debt" notation I.O.U. does not mean "I owe you," but actually stands for "I owe unto..."
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