| Most of the wealth has shifted into liquid assets, as uncertain investors stay out of the markets. |
| There are no liquid assets aside from money, unless there is a central bank. |
| At the same time, greatly heightened demand for safe and liquid assets encouraged shifts from equity markets into deposit assets. |
| All are short-term, highly liquid assets that can easily be converted into cash and used as currency. |
| The extent to which the assets of the monetary system consist of ultimate liquid assets is a qualitative characteristic of the money supply. |
| The remainder is invested in liquid assets such as cash and money market instruments. |
