Monday, October 30, 2017

Money is not a THING.

Not a "THING"
Most people think that if they are holding cash money or coins they have real money. They do not. There is no such thing as real money.  By that I mean that you cannot see, smell, taste, hear or feel money.  It does not objectively exist as a "Thing"

The next thing people do when I say this is show me a Dollar Bill and show me "This note is legal tender for all debts public and private". That means it is Money. It isn't.  It is a Federal Reserve "NOTE" That would be a  promissory note .  

It is a promise that the Federal Reserve Bank is holding electronic [virtual] money in an Asset account to cover the printed value . When the holder deposits it into a Bank account the money is transferred to that account as electronic numbers. A Federal Reserved Note[and coins] has the same function as a check or debit card or an on-line-transfer has.  It moves money. It is not Money itself. All Fiat money in existence, exist only as digital numbers on bank computers.  It can be found no where else.    


Funding Government without interest

No interest funding Taxes should only be used by States and local Governing units to raise money to fund spending. They are not Sove...