Cash isn't as risky if you are getting first dibs fresh out of the printer.

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What do you mean cash is a liability that has been debasing at roughly ~7% for the past 3 years or so. I guess it’s not as much of a risk as it is a guaranteed loss

A 7% loss on money you got for 100% free works out to what % profit?

Cantillon effect, Buffet gets first dibs on money from the money printer.