Alberto Veronese | The String Theory of Money @fistfullproduction | Uploaded February 2016 | Updated October 2024, 3 hours ago.
Savings are only the debit side of money...
"The String Theory of Money"
by Alberto Veronese, January, 2016
fistfullfeed.wordpress.com/2016/02/13/the-string-theory-of-money
Almost all money (coins, bills, tokens) have a debit on one side and a credit on the other side: the debit side is represented with a number, the facial value, the price. On the obverse there is a portrait with an inscription, representing the authority, the credit side, the issuer.
The currency which is used for any financial transaction does not transfer solely the “debit side” of its double entry, it also transmits the “credit side”, the debt due to the issuer. That being the case, strictly, there is no transaction of money.
The day-to-day currency of a country is always stringed to a monetary authority, as an exclusive liability to that authority – within the country's jurisdiction and within reach of its political and economic enforcement system.
....
Savings are only the debit side of money...
"The String Theory of Money"
by Alberto Veronese, January, 2016
fistfullfeed.wordpress.com/2016/02/13/the-string-theory-of-money
Almost all money (coins, bills, tokens) have a debit on one side and a credit on the other side: the debit side is represented with a number, the facial value, the price. On the obverse there is a portrait with an inscription, representing the authority, the credit side, the issuer.
The currency which is used for any financial transaction does not transfer solely the “debit side” of its double entry, it also transmits the “credit side”, the debt due to the issuer. That being the case, strictly, there is no transaction of money.
The day-to-day currency of a country is always stringed to a monetary authority, as an exclusive liability to that authority – within the country's jurisdiction and within reach of its political and economic enforcement system.
....
