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Your neighbour's money 14104
Support? Your neighbour's money 13 and 19 March 2016, translated from Dutch by the author Introd ... uture saver first had banknotes. Those represent a claim on the issuing central bank. The saver deposits th ... e banknotes in a savings bank, and in return has a claim on that bank. For the money supply, this makes no ... notes in the hands of the future saver. That was a claim of a member of the public on a bank (on this case: ... bank, the banknotes are no longer money – still a claim on the central bank, but the non-central bank is n ... - [detail] - [similar]
If banks can, why can't we? 12060
Support? If banks can, why can't we? 2 July 2013 Because of the definition People often wonder: ... ds, but the total didn't change. There's also your claim on the friend, because he promised to repay you in ... a few days. Such a claim by a non-bank person on another non-bank person is ... ey. Therefore there was no money creation when the claim arose. If the definition were different and that c ... as there before: afterwards there is the repayment claim of the lender and the borrower has the money avail ... - [detail] - [similar]
Money as debt? Money as claims! 10566
Support? Money as debt? Money as claims! Idea 27 September, text 21 October 2012 Inspiration The ... an asset in somebody else's. So any debt is also a claim, albeit for a different party. For that reason alo ... ying ‘money is debt', you could also say ‘money is claims'. What is money? And this in fact nicely correspo ... e can see that the essential point about money is ‘claim'. By having money, you can claim some other form o ... and services, in other words, money enables you to claim obtaining these. Money can be: coins: a claim on t ... - [detail] - [similar]
Seigniorage (1) 9937
Support? Seigniorage (1) 27 June and 1, 2 and 4 July 2016, translated from Dutch by the author T ... racting costs, a sizeable profit remains! Money as claim But is the above really correct? Historically, coi ... nowledgement of debt of the issuing entity means a claim, by the holder of the banknote, on that entity. In ... ways my definition of money: money (M1/M2 etc.) is claims of the public on banks. In other words: money is ... t was a liability to the holder. So then that is a claim of the holder (the central bank) on itself. Hardly ... - [detail] - [similar]
Give up commensurable consideration 9811
Support? Give up commensurable consideration 19 June 2013 Introduction In my previous article , ... ey (in the monetary sense!) consists of coins, and claims on banks, held by the public (meaning: households ... ey when held by the public, because they represent claims on the central bank that issued them. However, ce ... . Question 1 “ 1) What lawful consideration do you claim the BoE gives up when it creates money ? ” (Note: ... that the borrower owes the bank, in other words, a claim of the bank on the borrower, in yet other words: a ... - [detail] - [similar]
Full reserve banking? 8758
Support? Full reserve banking? 19 and 23 July 2012 Khan Academy The opposite of fractional reser ... rn for depositing his 3 dollars of cash, now has a claim on the bank amounting to a total of 3 dollars. The ... my example, with fractional reserve banking, this claim is on demand: Villager A may claim the full amount ... 3 months or the maturity is less than 2 years. The claim on the bank is M2 money. So in this example, contr ... the owner doesn's need the money but instead has a claim; the borrower has the money and can spend it. The ... - [detail] - [similar]
Do banks relend interest? 8758
Support? Do banks relend interest? Idea 7 August 2013, elaboration 27 October 2013 and 6–8 Febru ... happen? Quotes First, some quotes from people who claim that it can and does: Quote 1 Anthony Migchels of ... e authors' wrong ideas of what is money . Money is claim They see money as something held by its owners, th ... valuable, is that it is recognised as a financial claim . In this case: a claim on the central bank that i ... and out of a bank. It is always in a bank, being a claim on the bank administered by that bank. Money is al ... - [detail] - [similar]
What is money? 8695
Support? What is money? Text 1–5 and 9–11 October 2012. Ideas 25 and 27 September and 5/6 Octobe ... If you take out a bank loan, that loan itself (the claim of the bank on the borrower) is not money . The am ... r is still the owner – meaning the depositor has a claim on the bank in the amount of the deposit. Under EC ... ever, in return for that deposit, you get a higher claim on the bank, because the bank credits the amount t ... o your transaction account. That claim is money , so in addition to the money destruction ... - [detail] - [similar]
Representing all value? 8632
Support? Representing all value? 8–11 and 14 June 2013 Introduction The discussion on What Do Th ... which all economists agree on: Money is coins, and claims of households and companies on banks. That's the ... eir value from what they symbolically represent: a claim to an issuing central bank. One step further in th ... s bank accounts: just like a banknote represents a claim on a central bank, a bank account balance (of a ch ... ecking account or a savings account) constitutes a claim on a non-central bank. I wrote about this earlier ... - [detail] - [similar]
Different definition, same system 8569
Support? Different definition, same system 1 and 2 February 2018, my own translation of my Augus ... le, because after all, what is money? Money is : a claim by the public on the government (coins); a claim b ... y the public on the central bank (banknotes); a claim by the public on a non-central bank (money of acco ... currency, so in a sense they are money. The bank's claim on the borrower to whom that bank has provided a l ... oan, is then also money. Conversely, the claim of the borrower, who has the borrowed money in a c ... - [detail] - [similar]
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