[yungchin]

I'm not sure I get that "currency is just a good". If people hoard gold, then the price of gold spikes, and it will be hard to come by gold, but you can probably still buy other things. But if people hoard a currency, to the point where there's not enough freely flowing to pay for stuff, it will affect all kinds of transactions. Doesn't that make it different?

(So I mean, the point of the securities you mention is exactly to hold/hoard them, whereas the point of a currency is not to hold it, but to pass it around, or?)