Better Money™

Base Money and Broad Money

Base Money means Monetary Liabilities of an Issuer serving as the medium in which like-denominated Broad Money is payable. Read more →

Legal Tender (vs. specific performance)

Legal Tender declarations are typically enacted when the State has taken actions to degrade its money to the detriment of creditors. Read more →

Currency

The word "currency" has at least three conventional meanings. This often leads to confusion and imprecision. 31 CFR § 1010.100(m) explicitly limits the definition to refer to "coin and paper money". As I will use the term, a Currency means a brand of money. Read more →

Real Money (and play money)

Issuers of Real Money, by virtue of the assets they hold against their Monetary Liabilities, are able to buy back any or all money they have issued, thereby shrinking the money supply if needed. This is an important channel of adjustment in the event of decreased demand for a particular brand of Real Money. With Play Money, in contrast, no such mechanism exists or can exist. Read more →