Money is an IOU backed by credit: worth something if payable, waste paper if not. CategoryMoney Notes First published 2025-03-08 07:04 Home › Money Notes › Money is an IOU backed by credit: worth something if payable, waste paper if not. Money is essentially an IOU. The IOU is backed by credit—only when the borrower can repay it does it hold value; otherwise, it’s worthless. 🎯 加入「进步分子」知识星球搞钱情报 · 工具测评 · 副业实战立即加入扫码或点击加入,一起进步Get the Creator Daily by emailHand-picked opportunities, tools & insights for indie makers — free.中文读者?订阅中文频道 → Category: Money Notes MoreMoney Notes The goal is not wealth, but a niche. The Time Cost of Capital Labor returns are hard to beat capital returns globally. What You See May Not Reflect Reality (It Could Be Incomplete) Value and Price: No Immediate Match, but Inevitable Convergence #ReadingNotes People pay us to invest, transferring uncertainty’s pain to us and receiving certain hope in return RMB replacing USD is a trend Why Buy Core-Asset Brand Properties for Investment? ← Previous The expected product’s key feature is that its price is determined by supply and demand rather than value. Next → For 2022 Media Graduates