One of the mysteries of the English language finally explained.
Money held in a form such as bank deposits which is an asset to the holder but also represents a liability for someone else.
- ‘In their original contribution, Gurley and Shaw had emphasized the distinction between ‘outside money’ and ‘inside money,’ currency and bank deposits being the standard examples.’
- ‘The market can only generate ‘private’ or ‘inside money.’’
- ‘Then the authorities must manage, somehow, to preserve public confidence in the inside money stock if economic and financial collapse is to be averted.’
- ‘Because Treasury securities are effectively ‘outside money,’ they lessen the contagion that occurs when ‘inside money’ becomes suspect.’
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