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Thread: Comprehension

  1. #1
    jiang is offline Key Member
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    Default Comprehension

    Dear teachers,

    Please read the following paragraph ( to make it easier for you to find my relative sentences I number each sentence):
    (1) But the attitude toward money has, of course, changed. (2) Excepting pocket money, cash of any kind is now rarely used; money as a tangible commodity has largely been replaced by credit. (3) A deficit economy, accompanied by huge expansion, has led us to think of money as product of the creative imagination. (4) The banker no longer offers us a safe: he offers us a service in which the most valuable element is the creativity for the invention of large numbers.

    I don't understand (3) and the second part of (4). Could you please kindly explain them to me?

    I am looking forward to hearing from you.

    Thank you in advance.

    Jiang

  2. #2
    Tdol is offline Editor, UsingEnglish.com
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    Number 3 is beyond me. 4 suggests that the role of banker has changed from a custodian of valuables to someone who is involved in generating money for their clients.

  3. #3
    MikeNewYork's Avatar
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    Default Re: Comprehension

    Quote Originally Posted by jiang
    Dear teachers,

    Please read the following paragraph ( to make it easier for you to find my relative sentences I number each sentence):
    (1) But the attitude toward money has, of course, changed. (2) Excepting pocket money, cash of any kind is now rarely used; money as a tangible commodity has largely been replaced by credit. (3) A deficit economy, accompanied by huge expansion, has led us to think of money as product of the creative imagination. (4) The banker no longer offers us a safe: he offers us a service in which the most valuable element is the creativity for the invention of large numbers.

    I don't understand (3) and the second part of (4). Could you please kindly explain them to me?

    I am looking forward to hearing from you.

    Thank you in advance.

    Jiang
    My sense of #3 is that there really is no rational basis for money. In a deficit economy, the government borrows money from its citizens to pay for things that it does for citizens. As an economy expands, a government prints more money, beacuse the money is backed by the entire size of the economy (GDP). So you have a government borrowing money to buy goods and services (which expands the economy); then it prints money because the economy has grown. It seems to work, but it doesn't seem terribly grounded in reality.

  4. #4
    jiang is offline Key Member
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    Thank you very much for your explanation. Now I see what No.4 means.
    If Number 3 is beyond you, then it is of course beyond me. This makes me feel a little better.

    Jiang


    Quote Originally Posted by tdol
    Number 3 is beyond me. 4 suggests that the role of banker has changed from a custodian of valuables to someone who is involved in generating money for their clients.

  5. #5
    jiang is offline Key Member
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    Default Re: Comprehension

    Thank you very much for your explanation. So 'large numbers' means 'large sum of money'. Is that right?

    I am looking forward to hearing from you.

    Thank you in advance.

    Jiang
    Quote Originally Posted by MikeNewYork
    Quote Originally Posted by jiang
    Dear teachers,

    Please read the following paragraph ( to make it easier for you to find my relative sentences I number each sentence):
    (1) But the attitude toward money has, of course, changed. (2) Excepting pocket money, cash of any kind is now rarely used; money as a tangible commodity has largely been replaced by credit. (3) A deficit economy, accompanied by huge expansion, has led us to think of money as product of the creative imagination. (4) The banker no longer offers us a safe: he offers us a service in which the most valuable element is the creativity for the invention of large numbers.

    I don't understand (3) and the second part of (4). Could you please kindly explain them to me?

    I am looking forward to hearing from you.

    Thank you in advance.

    Jiang
    My sense of #3 is that there really is no rational basis for money. In a deficit economy, the government borrows money from its citizens to pay for things that it does for citizens. As an economy expands, a government prints more money, beacuse the money is backed by the entire size of the economy (GDP). So you have a government borrowing money to buy goods and services (which expands the economy); then it prints money because the economy has grown. It seems to work, but it doesn't seem terribly grounded in reality.

  6. #6
    Tdol is offline Editor, UsingEnglish.com
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    Large numbers refers to the amounts of money, imo.

  7. #7
    MikeNewYork's Avatar
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    Default Re: Comprehension

    Quote Originally Posted by jiang
    Thank you very much for your explanation. So 'large numbers' means 'large sum of money'. Is that right?

    I am looking forward to hearing from you.

    Thank you in advance.

    Jiang
    You're welcome.

    Yes, as TDOL said -- money. :wink:

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