fiat money even really is: It is a fungible pan-bank liability.

What we call “money” isn’t a “thing” at all; it’s a way of comparing things mathematically, as proportions: of saying one of X is equivalent to six of Y.

Essentially, we have two money systems that we as normal citizens take part in. The state physical (cash) and the bank digital (numbers on a digital ledger) money systems. The writer Brett Scott, in his book Cloudmoney, has presented extensive evidence of how private banks have been influencing consumers and businesses to be more “cashless”, hurtin

Money is a story. It is a story of what work has been done on credit that is yet to be redeemed. It is the Schelling point for universal credit. It is an IOU that everybody is willing to redeem (primarily because everybody is willing to redeem it) and hence that, at every instance of its transfer, it is re-ordained with the ascription of economic v