 It will be useful to introduce vocabulary to mark the point which is being made here. We could, for instance, distinguish between the properties which are encoded in an idea or concept, and the properties which are attributed in positive atomic beliefs which have that idea or concept as an ingredient. The idea “really existent Santa Claus” encodes the property of real existence; but it is perfectly possible to entertain this idea without attributing real existence to Santa Claus, i.e., without believing that Santa Claus really exists.