Perception is reality is perception.

Example: You are walking down a dark alley when a large menacing man suddenly steps out from behind a dumpster. He has one hand buried in his pocket; he demands your valuables and threatens to shoot you if you don't comply.

Result: You give him your money because you believe that he has a gun in his pocket. The existence of the gun is not as important as your belief in the gun.

Perception is reality is perception.